HInvestment Corporation analyzed that Sanil Electric is growing at a pace that surpasses the market as of the 19th. Consequently, the investment opinion remains "buy", but the target price has been raised to 92,000 won. In the previous transaction, Sanil Electric closed at 72,500 won.

On Jul. 29, officials are taking a commemorative photo at the KOSPI listing ceremony of Sanil Electric held at the promotional hall of the Korea Exchange in Yeongdeungpo-gu, Seoul. From left are Jeong Seok-ho, Chairman of the Korea IR Association; Yang Tae-young, Head of the KOSDAQ Market Division of the Korea Exchange; Park Dong-seok, CEO of Sanil Electric; Kim Mi-seob, CEO of Mirae Asset Securities; and Jeong Woo-yong, Vice Chairman of the Listed Companies Association. /Courtesy of Korea Exchange.

According to HInvestment Corporation, Sanil Electric's revenue for the fourth quarter is estimated to be 98.2 billion won, reflecting an increase of 87.9% compared to the same period last year, and operating profit is estimated to be 31.6 billion won, up 559.3%. It has been assessed that the effects of expanding the second factory will quickly manifest through the utilization of existing leased factory personnel.

Park Hee-chul, a researcher at HInvestment Corporation, noted, "Since the second half of this year, the revenue share of ground transformers has increased compared to that of sectional transformers, contributing to revenue growth," and added, "The expanded scale is expected to offset the impact of one-time expenses in the fourth quarter." He further stated, "From December, when the second factory starts operating in earnest, a faster growth rate is expected."

Researcher Park stated, "Considering the tariffs imposed on Mexico and Canada, which previously accounted for most of the low to medium voltage transformer quantity in the U.S., a supply shortage environment is likely to persist," adding, "In fact, Sanil Electric has recently been in contact with most of the top utility companies in the U.S. to confirm additional demand."

Park noted, "The trend in export amounts up to November is also positive, and if we consider the published preliminary figures for December, the revenue growth rate is faster than expected," emphasizing, "The previously suggested revenue increase of about 100 billion won each year is considered conservative."

Researcher Park raised the revenue estimate for 2025 to 480 billion won and operating profit to 175.4 billion won. He noted, "With the immediate deployment of skilled existing leased factory personnel to the second factory, a rapid revenue improvement is being realized compared to expectations," stating, "The renewable special transformer sector, which was expected to be adversely affected following the election of Trump, also announced orders of about 50 billion won in November, limiting concerns about sluggishness."