[Market Focus] HL Mando Surges Over 10% on Earnings and Robotics Expectations

On December 1, HL Mando, an automotive parts company, saw its stock price surge by double digits on the domestic stock market, reaching a record high. This was driven by robust earnings growth despite the impact of U.S. tariffs, along with heightened expectations surrounding its next-generation growth engine, the robotic actuator business.

As of 9:23 a.m. on this day, HL Mando was trading at 52,200 won per share, up 12.02% from the previous session. Opening with a strong gain of over 6%, HL Mando further expanded its upward momentum and hit a new all-time high. The stock has now risen for four consecutive trading sessions.

This rally is attributed to a wave of positive analyst reports based on earnings growth and the upcoming release of the company's robotics roadmap later this month, which has fueled buying interest. Samsung Securities raised its target price for HL Mando by 9% to 60,000 won on the same day.

Eunyoung Lim, Team Leader at Samsung Securities, stated in a report titled "2026, The Beginning of a New Vision," that "with the growth in electronic steering and IDB sales, and the decision to offset U.S. tariff costs through completed vehicle manufacturers, there is high visibility for earnings improvement in 2026." She also noted, "The launch of the robotic actuator business, which has a market size 100 times larger than automotive control systems, and HL Mando's stable position in securing rare earth materials, are drawing increased attention from the stock market." Lim selected HL Mando as a top pick in next year's value chain.

BNK Investment & Securities also raised its target price for HL Mando to 56,000 won last week. Sanghyun Lee, a researcher at BNK Investment & Securities, commented, "At the CEO Investor Day scheduled for December, HL Mando plans to share investment plans for R&D and overall business related to its future growth engine, the humanoid (bipedal robot) business." He added, "It is understood that actuators for quadruped robots are already generating some revenue."

Jiwoong Yoo, a researcher at Daol Investment & Securities, also stated, "With the dawn of the robotics industry in Korea, a revaluation of companies specializing in motors and actuators has begun." Yoo maintained a "Buy" rating for HL Mando and raised the target price to 63,000 won.

Meanwhile, HL Mando reported third-quarter sales of 2.3213 trillion won and operating profit of 94.1 billion won, up 7% and 14%, respectively, from the same period last year. Excluding the impact of tariffs, the third-quarter operating margin was 4.9%, or about 115 billion won, marking the highest quarterly operating profit in the company's history.