[Market Highlight] AJ Networks Rises Over 4% on Full-Scale Launch of Robot Rental Business

With expectations for performance growth due to the full-scale launch of the robot rental business, the stock price of AJ Networks is on the rise.

As of 10:23 a.m. on November 19, AJ Networks was trading at 4,655 won, up 195 won (4.37%) from the previous trading day.

Eugene Investment & Securities maintained its buy rating and target price of 6,000 won for AJ Networks on this day, stating, "We anticipate performance growth driven by the full-scale launch of the robot rental business and the resumption of investment in Samsung Electronics' Pyeongtaek Plant 4 (P4)."

In the third quarter, AJ Networks recorded sales of 283.5 billion won and operating profit of 13.2 billion won. Compared to the same period last year, sales increased by 13.5%, while operating profit decreased by 32.9%. Growth was led by a 23.6% increase in sales from the rental segment and a 19.9% increase in the warehouse and distribution segment.

Park Jongsun, a researcher at Eugene Investment & Securities, commented, "The positive aspect of the third-quarter results is that sales showed double-digit growth compared to the same period last year," and added, "Despite a decrease in sales due to the sale of AJ Maintenance Partners in August last year and AJ Daewon in July this year, the company still demonstrated growth."

He further explained, "The company has secured approximately 5,000 serving robots and is fully launching its robot rental business. With the resumption of Samsung Electronics' P4 investment and the expected promotion of future P5 investment, the recovery of the high-altitude equipment rental business is also anticipated to improve profitability."