Mobease Electronics Soars Fourfold This Year on MobED Partnership

Soaring from 1,395 Won to 5,720 Won Since Last Year-End
Retail Investors Rush In on News of Supplying Key MobED Components
Concerns Rise Over Increased Volatility Following Sharp Stock Surge

This year, Mobaes Electronics has emerged as the stock with the steepest rise in the domestic stock market. The company's share price has been driven up by expectations of its inclusion in the robotics value chain, following its agreement to supply core components for Hyundai Motor Group's next-generation mobile robot platform, MobED.

According to the financial investment industry on January 20, Mobaes Electronics has risen by 310% so far this year. This is the largest increase across both the KOSPI and KOSDAQ markets. The share price soared vertically from 1,395 won at the end of last year to 5,720 won. Its market capitalization has surpassed 400 billion won. Individual investors, who have recorded a cumulative net purchase of 7 billion won this year, have achieved a return of 63%.

Mobaes Electronics recently announced that it will supply the mainboard and wiring, among the core components for MobED, the mobile robot platform unveiled by Hyundai Motor Group. MobED is a platform that integrates autonomous driving, sensor fusion, and artificial intelligence (AI) control technologies, and is characterized by its flexible design that can meet various demands in industrial settings. Hyundai Motor plans to begin mass production of MobED in the first quarter of this year and sequentially deploy it in logistics, manufacturing, and service sectors.

In line with the full-scale mass production of MobED in the first quarter, Mobaes Electronics will begin supplying mainboards and wiring from February. The mainboard is one of the key components in a robot system, responsible for power management, control, and distribution of communication signals. The mainboard for MobED requires integrated implementation based on large, high-density printed circuit boards (PCBs). Mobaes Electronics has leveraged its accumulated mass production experience and manufacturing know-how in automotive electronic components to solve technical challenges.

The wiring harness, due to its structural characteristics of simultaneously transmitting power and control/communication signals, plays a role in reducing assembly deviations and contact failure risks. It ensures the stable delivery of power and signals managed by the mainboard to the robot's drive elements.

With this supply contract, Mobaes Electronics has put forward a strategy to expand beyond its existing automotive parts-focused business and accelerate its transformation into a 'core AI mobility component company.' The company expects that its control systems and mainboards will expand their application not only to automobiles but also to autonomous vehicles and robots.

A representative from Mobaes Electronics stated, "We will continue active research and development to reliably supply key components needed for the robotics and AI industries, aiming to establish ourselves as a trusted partner in the global robotics market."

However, the market is also paying attention to the possibility of increased volatility going forward, given the sharp rise in the share price over a short period. With expectations for the growth of the robotics industry already reflected in the share price, the pace of supply expansion or the visibility of actual results may fall short of expectations.

As of the third quarter of last year, Mobaes Electronics recorded consolidated sales of 764.2 billion won and operating profit of 27 billion won. Compared to the same period the previous year, sales increased by 10.2%, but operating profit decreased by 3.1%.