This Stock Is Up Tenfold in a Year, but Has More Room to Run... The Company Powering Explosive Growth [Weekend Money]

Operating profit soars 26-fold... Margin reaches 40%
Flagship "THINK" expected to triple in size this year

Leveraging the explosive growth of its inpatient monitoring solution "Thync," Ssiers Technology is capturing the full attention of the market. Although its share price has risen more than tenfold over the past year, securities firms continue to raise their target prices.

Full-process explanatory video of Ssieoseu Tekunolloji's inpatient monitoring solution "Thync". Ssieoseu Tekunolloji YouTube.

On a consolidated basis, Ssiers Technology posted sales of 20.4 billion won in the fourth quarter of last year, up 272.1% year-on-year, while operating profit surged 2,510.2% to 8.6 billion won. Its operating profit margin (OPM) came in at 42.0%, in line with consensus. For the full year, the company achieved a turnaround with sales of 48.2 billion won and operating profit of 16.3 billion won, and its OPM was 33.9%, slightly exceeding consensus.

Jung Yukyung, an analyst at Shin Young Securities, said, "Thync alone achieved implementation for 6,000 beds in the fourth quarter, far exceeding the cumulative figure through the third quarter, and it also grew 29.7% quarter-on-quarter," adding, "On an annual basis, Thync was introduced for 11,014 beds, growing more than tenfold year-on-year."

The electrocardiogram (ECG) analysis solution "Mobicare" also continued its stable high growth. Last year, Mobicare was prescribed a total of 356,032 times, including 237,750 cases at hospitals and 118,282 cases at health screening centers, up 44.6% from a year earlier. Jung evaluated, "Not only Thync but also Mobicare recorded high growth, confirming the strength of the overall portfolio."

This year is expected to mark the first year in which Ssiers Technology both further solidifies its position in the domestic market and begins its full-fledged overseas expansion. Shin Young Securities presented an expected implementation scale of 30,000 beds for Thync this year, which is close to a threefold increase from the previous year. Jung stressed, "Although competitors such as Medju, Huino, and Mediana (ATsens) are starting to enter the market in earnest, Thync offers high stability of integration with hospital EMR systems based on its fixed gateway."

Jung continued, "This structure can serve as a strategic asset that supplies high-quality clinical medical data to AI projects for medical data being promoted by tertiary general hospitals," and predicted, "If orders expand, centering on tertiary general hospitals in the Seoul metropolitan area, the company will be able to firmly secure an overwhelmingly dominant No. 1 position in the domestic inpatient monitoring market."

Growth expectations remain valid for Mobicare as well. The number of prescriptions this year is expected to reach 680,000, representing twofold growth year-on-year. In addition, in overseas markets, entry into the Middle East is becoming visible. Through its partnership with PureHealth, the No. 1 healthcare operator in the United Arab Emirates (UAE), Ssiers Technology plans to launch both Thync and Mobicare in the UAE within this year. Jung projected, "From 2027, overseas sales could be fully reflected in earnings."

Reflecting this analysis, Shin Young Securities raised its target price for Ssiers Technology to 250,000 won from the previous level. Jung summarized the investment points as "overwhelming growth in domestic earnings in 2026, full-scale overseas revenue contribution in 2027, and visibility on Thync contract renewals in 2028."