‘Loss of 29 billion won’ Battery man company… The reason why the ransom increased 20 times [김익환의 컴퍼니워치]

input2023.04.01 07:00
correction2023.04.01 07:29

Director Park Soon-hyeok of ‘Battery Man’
Ant mania… Park Director, Geumyang
22 times the ransom in 2 years… Breach through 4.5 trillion

Unit profit overtakes GS ransom and Doosan Bobcat
Geumyang, net loss 30 billion last year
News about battery and lithium mine development surges

A view inside the Geumyang secondary battery material plant. / source: Geumyang

“I trust only the battery man.”

Public Relations Director Park Soon-hyeok of Keumyang, a chemical company, is known as the ‘battery man’ among individual investors. Director Park, who is known as the evangelist of the battery industry, gained fame through YouTube broadcasting. When 8 secondary battery items recommended by YouTube (Ecopro, Ecopro BM, LG Energy Solution, LG Chem, POSCO Chemical, Nano New Materials, etc.) took off, they received significant support from ants. The price of Geumyang, a chemical company he worked for, also rose 25 times. Geumyang, in red, drew attention as it overtook the ‘ransom price’ Doosan Bobcat GS, which recorded a trillion unit profit.

On the 31st, Kumyang is trading at 78,400 won in the stock market, down 600 won (0.76%). It fell that day, but the company’s stock price has soared in the past two years. The company, which remained at 4300 on March 31, 2021, gained 18 times to 79,000 gained the previous day. During the same period, the market capitalization increased from 205.6 billion won to 4.5859 trillion won. In terms of market cap, it jumped about 22 times.

What pushed the company’s share price up were expectations for the secondary battery business. Geumyang, which produces a foaming agent, a chemical used in the manufacture of sponge products, was a company with sales of 150 to 180 billion won. However, in June last year, after Samsung SDI and LG Energy Solution, it announced that it had succeeded in developing the ‘cylindrical secondary battery 2170 (diameter 21mm·70mm)’ for the third time, and the stock price increased. Along with the development, a plan to build a production line in Busan by spending 800 billion won is also being discussed. The company’s cash assets at the end of last year were approximately 26.3 billion won.

In November last year, he acquired a 20% stake in CHARLIZE RESOURCES SAS, a mining corporation in the Congo, for $950,000, and at the same time signed a contract to explore the company’s lithium mine. It takes a long time to dig in the exploration stage, and it is difficult to guarantee success.

Stock prices overheated in a situation where secondary battery factories were not established and lithium was not mined. The company’s market cap rank is 75th in the stock market. The ‘ransom price’ is higher than GS (5.51 trillion won), Doosan Bobcat (1.716 trillion won), POSCO International (902.5 billion won), Mirae Asset Securities (835.6 billion won) and Coway (677.4 billion won), and it recorded an operating profit amount of 600 billion to 5 trillion won last year.

In Geumyang’s case, it made an operating profit of 13.2 billion won last year. The company’s net profit was -29.3 billion won, and is in the red. As the stock price increased, the publication of stock market reports relating to the company ceased after September last year.

Correspondent Kim Ik-hwan


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