The stock price of Kumyang is strong at over 16% on the morning of the 13th. This appears to be influenced by the signing of its first overseas supply contract for 4,695 cylindrical batteries.
According to the Korea Exchange, as of 9:41 a.m. on this day, Kumyang was trading at 28,100 won, up 4,000 won (16.60%) from the previous session in the KOSDAQ market.
The previous day, Kumyang noted that it had signed a supply and maintenance contract for 4,695 battery modules with the Saudi Arabian corporation GCC (Gulf Cooperation Council). The contract period is six years, from 2025 to 2030, with a guaranteed amount of 137.6 billion won.
GCC Lab is a subsidiary of Aramco, the world's largest oil company. It is a research institution established with investments from the Saudi Public Investment Fund (PIF) and the Saudi Electric Company. It is known as a key partner in Saudi Arabia's Vision 2030 and the NEOM project.
Earlier, Kumyang signed a supply contract for 21,700 cylindrical batteries with the South Korean electric bus company Philan Motors on the 6th.