CIS, a secondary battery equipment company, achieved its largest performance since its establishment despite the temporary demand slowdown in the electric vehicle market. Given the characteristics of equipment, which typically requires about 2 years from order to delivery, the orders received from 2022 to 2023 are interpreted as having shielded the company from the economic downturn.
CIS is a company that manufactures electrode process equipment, which is the first process in manufacturing the basic components of batteries, the battery anode and cathode.
On the 13th, CIS publicly announced that it recorded revenues of 508.5 billion won and an operating profit of 59.3 billion won last year. Compared to the previous year, revenues increased by 64% and operating profit by 52%.
CIS explained that it has maintained a solid growth trend amidst challenges in the global battery market by leveraging differentiated competitiveness through the development of new concept electrode process equipment and securing next-generation battery material technology.
The corporation is quickly moving to sign non-disclosure agreements regarding solid-state battery materials and equipment with famous automotive manufacturers in Japan and Europe, as well as energy companies in North America, despite the anticipated prolonged impact of the downturn expected to last until next year. It has established a pilot production line for mass production of solid electrolytes and is enhancing its business capabilities to secure a foothold in the next-generation battery market by introducing a continuous production system.
In December of last year, it completed a merger with SNU Precision, a company specializing in inspection and measurement equipment for display and semiconductor industries, thus diversifying its business.
CEO Kim Dong-jin said, "CIS leads the global battery equipment market, but we will not be satisfied with this. We will secure a differentiated competitive edge through the development of innovative equipment and the acquisition of next-generation battery technologies," adding, "We will diversify our business portfolio through mergers and acquisitions and promote sustainable growth through diversified business strategies and stable financial management to prepare for global management risks."