L&F(066970) is soaring more than 13% early in the session after turning to an operating profit in the second quarter. The securities industry is also offering positive outlooks for anode material shipments to increase.
At 9:44 a.m. on the 7th, L&F was trading at 91,600 won on the main board, up 11,800 won (14.79%) from the previous session.
L&F said in a filing the previous day that its consolidated operating profit for the second quarter was tentatively tallied at 20.8 billion won. It swung to a profit from an operating loss of 121.2 billion won in the same period a year earlier.
Revenue was 885 billion won, up 70.2% from a year earlier, and net profit also turned to a profit at 52.9 billion won.
Helped by increased sales of high-nickel anode materials, second-quarter shipments hit a record high on a quarterly basis. Shipments of lithium iron phosphate (LFP) anode materials are also expected to exceed the plan set at the start of the year, and shipments next year are projected to top 50,000 tons (t).
The securities industry expects the increase in shipments to continue as products and customers diversify.
Lee Hyun-uk, an analyst at IBK Securities, said, "With diversification of applications such as North American 46-pi batteries, single-crystal anode materials, and lithium iron phosphate (LFP) energy storage system (ESS) anode materials, shipments of anode materials are expected to increase gradually."