Top Material, a KOSDAQ-listed company, was strong early on the 7th on news it signed a contract worth 7.9 billion won with a corporations in Türkiye.
As of 9:56 a.m. that day, Top Material was trading at 18,200 won, up 810 won (4.66%) from the previous session.
Top Material, a secondary battery total solution specialist corporations, said the previous day it signed a systems engineering contract with the Turkish energy corporations "Asfilsan" to build a lithium iron phosphate battery production line. The contract is worth 7.9 billion won, equivalent to 34% of Top Material's sales last year.
Under the contract, the counterparty must pay a 40% advance within 30 days of signing, followed by a 45% interim payment and a 15% balance. The contract runs from on the 3rd of this month to Nov. 3, 2027.
A Top Material official said, "This contract is an achievement secured based on our technology for building secondary battery production lines and our global business competitiveness," and added, "We plan to continue expanding our overseas business centered on Türkiye through an ongoing partnership with Asfilsan."