The author is an analyst of KB Securities. She can be reached at shinay.park@kbfg.com. -- Ed. Maintain BUY and raise target price 17% to KRW175,000; Share-price rally to continue We maintain BUY on Cosmax and raise our TP by 17% to KRW175,000 to reflect upward revisions to 2021E/22E/23E OP of 17%/13
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. We expect Cosmax to post 2Q21 OP growth of 24% y-y. Despite experiencing its highest base effect for the year, the firm should deliver expectation-beating results thanks to strong growth in key region
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Maintain BUY and target price of KRW37,000; all OLED divisions to generate profit in 2H21 We maintain BUY on LGD and our TP of KRW37,000, as we expect all three OLED divisions (large, small-/mid-sized and autom
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Guangzhou OLED line to expand to accommodate new clients and supply shortageAccording to the news provider The Elec (May 11), LGD will be increasing its OLED glass sheet capacity at its Guangzhou plant by 50% b
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. Cosmax’s OP upped 45% y-y in 1Q21, beating consensus. The company is to be a major beneficiary of increased cosmetics consumption in China. Moreover, domestic demand is set to recover significantly fr
LG Display's sales grew 46 percent on year to 6,882.8 billion won in the first quarter of 2021, according to the Financial Supervisory Service’s electronic disclosure system. Its operating profit stood at 523 billion won, a turnaround from an operating deficit in the first quarter of 2020.Althou
The authors are analysts of NH Investment & Securities. They can be reached at j.ko@nhqv.com and jonathan.jang@nhqv.com, respectively. -- Ed. At the Shanghai Motor Show in China (Media Day), automakers’ new model introductions focused upon EVs, with several new Chinese EV makers joining the market.
The authors are analysts of Shinhan Investment Corp. They can be reached at jwsung79@shinhan.com and hanny.lee@shinhan.com, respectively. -- Ed. Top picks: LG Household & Health Care, Amorepacific, Cosmax1) LG H&H: 1Q21F consolidated OP of KRW362.1bn (+8.5% YoY)LG Household & Health Care is expected
The author is an analyst of KB Securities. She can be reached at shinay.park@kbfg.com. -- Ed. Raise TP by 15% to KRW150,000; new TP reflects upward revisions to earnings estimates for China subsidiaries We maintain BUY on Cosmax and raise our TP by 15% to KRW150,000, as we revise up 2021E-2027E OP C
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. We view the robust sales growth at Cosmax’s core Chinese subsidiaries as encouraging. Despite high-base effect (strong hand sanitizer sales recorded in 1Q20), we believe that the related concerns have
The authors are analysts of Shinhan Investment Corp. They can be reached at johnsoh@shinhan.com and chank@shinhan.com, respectively. -- Ed. Rising LCD TV panel prices and solid iPhone salesLCD TV panel prices continue to rise on growth of LCD TV sales at TV manufacturers and supply shortages for LCD
The author is an analyst of KB Securities. She can be reached at shinay.park@kbfg.com. -- Ed. Recovery to continue despite high earnings volatility We maintain BUY on Cosmax and our TP of KRW130,000. A higher market risk premium has pushed up WACC from 4.25% to 5.13%, but we have revised up 2020E-20
Hyundai Motor Group announced on March 2 that it held a virtual groundbreaking ceremony for HTWO Guangzhou, the group’s first fuel cell system facility outside of Korea. The facility is intended to support the group's push into China’s rapidly developing hydrogen industry.Participating in the vi
Hyundai Motor Group is moving to establish a new hydrogen fuel cell plant for Hyundai Mobis. The group is reviewing the candidate sites for the plant.Hyundai Motor Group announced a revised business strategy for 2025 in December 2020. The hydrogen solution business based on hydrogen fuel cells was a
SK Global Chemical announced on Jan. 28 that it has signed a memorandum of understanding (MOU) with Brightmark of the United States to set up a plant in Korea for production and commercialization of pyrolysis oil from waste plastics.The plant will decompose waste plastics with heat, extract raw mate
Hyundai Motor Group chairman Chung Eui-sun will draw up a more detailed plan to promote the hydrogen business in China. A hydrogen mobility cluster linking the EU and China, the United States, Australia and Korea are taking shape under Chung’s leadership.Hyundai Motor decided to build a hydrogen fue
Market research firm Omdia said on Dec. 21 that this quarter's 55-inch 4K OLED panel price is US$510 and the Q4 price of the LCD panel of the same size and resolution is US$178. The difference, 2.86 times, has been reduced from close to five times in three quarters. In Q1, the respective prices
The authors are analysts of Shinhan Investment Corp. They can be reached at johnsoh@shinhan.com and chank@shinhan.com, respectively. -- Ed. Set to benefit from China’s 10.5G LCD capacity expansion in 2021Silicon Works stands to see strong momentum in sales of LCD TV-use non-memory semiconductors to
A Chinese company posted an OLED engineer job offer via a South Korean headhunter on Dec. 5. It is assumed that the company is BOE, which rose to the top of the global LCD market by beating Samsung Display and LG Display.At present, Chinese companies are growing very fast in the global display indus
An OLED TV under US$1,000 has appeared in the TV market. Vizio, a U.S. TV manufacturer, recently started a promotion for a 55-inch 4K OLED TV that is sold at US$900 at Best Buy, the largest retailer in the United States. The model was sold for US$1,300, but consumers can buy it at a 31 percent disco