The Independent Research ValueFinder noted on the 19th that ITEK, a KOSDAQ-listed company, is the only artificial intelligence (AI) semiconductor chip testing house in the country, predicting that it will benefit from testing equipment in the system semiconductor and vehicle semiconductor industries, which are expected to grow significantly in the future. ITEK's previous trading day closing price was 6,100 won.
ITEK, established in 2005 and listed on KOSDAQ in 2010, specializes in producing semiconductor testing. Semiconductor testing is typically performed at the final stage of the manufacturing process to determine the quality of semiconductor chips and identify which process has issues.
Lee Chung-heon, a Research Institute member, said, "ITEK has secured major clients such as fabless companies Telechips, Dongwoon Anatech, Nextchip, ANAPASS, LG Electronics, and design houses ASICLAND, ADTechnology, and Gaochips." He noted that the company is currently collaborating with two U.S. companies, three Chinese companies, and one Japanese company.
ITEK recorded a consolidated revenue of 61.3 billion won, an operating loss of 4.8 billion won, and a net profit of 20 billion won last year. The Research Institute analyzed, "While ITEK recorded a consolidated operating loss, its individual performance, which is related to its core semiconductor business, showed a 12.1% year-on-year increase in revenue to 38.9 billion won, an operating profit of 1.9 billion won (returning to profit), and a net profit of 12.7 billion won (returning to profit)."
He further explained that "currently, ITEK is securing cash flow while reorganizing its major subsidiaries, with the cash held by the company amounting to approximately 110 billion won, accounting for about 84% of its market capitalization."
It was also noted that ITEK has introduced the only equipment of its kind among domestic testing houses and is expected to benefit from it. The Research Institute said, "ITEK is the only testing house equipped with the 'V93K-PS5000' capable of testing 5-nano under and AI semiconductors." He further explained, "ITEK operated two 'V93K-PS5000' units in 2022, the first among domestic testing houses, and plans to add three more by 2026."
In the future, the system semiconductor industry and the vehicle and autonomous driving semiconductor industries are expected to experience significant growth, and amid this situation, the importance of semiconductor testing for performance improvement is expected to become prominent. The Research Institute said, "Ultimately, the importance of testing for performance improvement will be highlighted."