[Click e-Stock] "T-Robotics: Focus on Structural Growth in AMR and Development of Glass Substrate Transfer Robots"

On November 25, KB Securities analyzed that T-Robotics is expected to secure new growth drivers based on the development of AMR (Autonomous Mobile Robots) and glass substrate transfer robots.

T-Robotics, established in 2004, is a robot manufacturing company that produces vacuum robots and transfer modules for semiconductor and display processes, as well as AMRs for secondary batteries and smart factories. The company is the only domestic developer of OLED vacuum robots and holds the leading position in the domestic AMR specialized robotics market, demonstrating technological differentiation.

However, the company's cumulative performance for the third quarter this year showed revenue of 36.76 billion won, a 27.8% decrease year-on-year, and an operating loss of 860 million won, continuing its deficit. Nevertheless, analysts noted that the AMR segment has significant growth potential, based on the company's core businesses of vacuum robots and vacuum transfer modules.

Im Sanguk, a researcher at KB Securities, stated, "Amid favorable conditions such as the structural growth of the AMR industry, global AMR orders are increasing, including the supply of AMR solutions to the largest electric vehicle battery plant in the United States," adding, "The expansion of global customers is now in full swing."

He also forecast that, leveraging T-Robotics' robot control technology and drive unit design capabilities, the application of AMRs will expand into various industries such as automotive, defense, and logistics. In particular, after signing an MOU with Rainbow Robotics in March, the company is targeting the large-scale logistics automation market, and attention is focused on whether it can become a key player in S company's AMR value chain in the future.

The company also maintains a strong competitive edge in the display sector. Im emphasized, "It is the first and only domestic developer of OLED vacuum robots," and analyzed, "Its technology for minimizing particles in vacuum environments and ultra-precision manufacturing capabilities have been proven through 12 years of collaboration with Applied Materials. Accordingly, the company is expected to benefit as domestic and overseas display companies expand their investments in 6th and 8th generation OLEDs."

Looking ahead, glass substrate transfer robots are emerging as a new growth area. While AI semiconductor performance is rapidly improving, packaging substrate technology has stagnated, making glass substrates an emerging next-generation material.

Im projected, "The commercialization of glass substrates could bring significant changes to the AI semiconductor packaging process," and added, "T-Robotics is developing and testing glass substrate transfer robots using its 8.6-generation OLED vacuum robot technology. If glass substrates are fully introduced to the market, this could become a new growth engine for T-Robotics."