"Target Price Up 149%" Samhwa Capacitor Hits MLCC Supply Jackpot... Samsung SDI Secures US ESS Funding Through Stake Sale [Stocktopia]

The photo shows Samsung SDI's headquarters in Giheung, Yongin, Gyeonggi Province / Photo = Newsis [Financial News] Here is a summary of reports from major securities firms for the morning of August 24.
Samsung SDI is evaluated as having concretized the funding for its North American Energy Storage System (ESS) battery expansion through the sale of its stake in Samsung Display.
Kakao's investment rating was downgraded from Buy to Neutral, citing significant uncertainty regarding the discount rate to be applied following the spin-off.
Samhwa Capacitor's target price has more than doubled, with expectations of a trickle-down effect from price hikes in Multilayer Ceramic Capacitors (MLCCs) by major manufacturers.
The photo shows Samsung SDI's headquarters in Giheung, Yongin, Gyeonggi Province / Photo = Newsis [Financial News] Here is a summary of reports from major securities firms for the morning of August 24.The photo shows Samsung SDI's headquarters in Giheung, Yongin, Gyeonggi Province / Photo = Newsis [Financial News] Here is a summary of reports from major securities firms for the morning of August 24.2% stake in Samsung Display on the 27th.Most of these funds are expected to be invested in the expansion of the U.
S.
joint venture 'SDI-GM Synergy Cells,' which recently decided to convert into a wholly owned entity after acquiring GM's stake.
Researcher Park Jin-soo predicted, "After converting to a wholly owned entity, the company is expected to introduce a lithium iron phosphate (LFP) prismatic ESS battery line in parallel, with mass production estimated to begin in the second half of 2028," adding, "The scale of the ESS battery line among the total lines will exceed 20 gigawatt-hours (GWh).
" Accordingly, Samsung SDI's North American ESS production capacity is expected to increase from approximately 30 GWh at the end of this year to over 50 GWh by the end of 2028.
Regarding the reduction in equity method income (profit from affiliates recognized proportionally to the shareholding) received from Samsung Display due to the sale, Analyst Park analyzed, "Although equity method income from affiliates will decrease to about two-thirds of the previous level following the sale of shares, the potential for revenue and profit growth from the new lines, which will begin in earnest after 2028, will outweigh this.
" He added, "It is also positive that, as the company transitions to a wholly-owned entity structure, 100% of the profits from produced batteries can be recognized as net profit attributable to controlling shareholders." ※ Energy Storage System (ESS) It is a large-scale battery facility that stores electricity and releases it when needed.It plays a key role in storing electricity with fluctuating generation, such as solar and wind power, or in stabilizing the power supply for AI data centers that consume large amounts of electricity.
The photo shows Samsung SDI's headquarters in Giheung, Yongin, Gyeonggi Province / Photo = Newsis [Financial News] Here is a summary of reports from major securities firms for the morning of August 24.The photo shows Samsung SDI's headquarters in Giheung, Yongin, Gyeonggi Province / Photo = Newsis [Financial News] Here is a summary of reports from major securities firms for the morning of August 24.Kakao is dividing into a newly established entity, Kakao AI, which will handle AI, advertising, and commerce centered around KakaoTalk, and a surviving entity, Kakao X, which will hold stakes in affiliates and investment assets.A spin-off is underway.
While the spin-off itself was evaluated positively as it involves shareholders receiving shares in both companies, it has been pointed out that Kakao X, which will become an investment holding company, may be subject to a significantly larger "holding company discount" than before—where the stock price is valued lower than the value of the shares held—and it remains unclear whether Kakao AI will receive a growth stock premium sufficient to offset this.
"The combined enterprise value after the spin-off is expected to become a battle between the re-rating range of Kakao AI and the de-rating range of Kakao X," said Researcher Oh.
"At this point, a more conservative approach is needed regarding the uncertainty of the discount rate to be applied after the spin-off, rather than expecting a value increase due to the spin-off.
" The judgment is that it is better to wait and see for now, as it is difficult to be certain which way the value of the two companies will tilt.
※ Spin-off (人的分割) This is a method in which, when a company is divided into two, existing shareholders receive shares in the new company in proportion to their existing shareholding.
Unlike a spin-off where the parent company holds 100% of the new company's shares, from a shareholder's perspective, equity in the core business is not diluted.0%, from 51,000 KRW) | Previous Day's Closing Price: 90,600 KRW iM Securities has significantly raised its target price for Samhwa Capacitor, forecasting that the company will enjoy a strong trickle-down effect due to increased price hikes by leading manufacturers in the AI ​​server MLCC market.Analyst Lee Sang-heon stated, "Recently, companies such as Samsung Electro-Mechanics and Japan's Murata are reducing the production of low-profit general-purpose MLCCs and increasing the production of high-profit MLCCs for AI servers and automotive electronics," adding, "As a reaction to this, the general-purpose MLCC inventory held by distributors is significantly "It is shrinking, and supply gaps are occurring," the analyst pointed out.
The photo shows Samsung SDI's headquarters in Giheung, Yongin, Gyeonggi Province / Photo = Newsis [Financial News] Here is a summary of reports from major securities firms for the morning of August 24.The photo shows Samsung SDI's headquarters in Giheung, Yongin, Gyeonggi Province / Photo = Newsis [Financial News] Here is a summary of reports from major securities firms for the morning of August 24.The analyst continued, "The company has been selected as a supplier of DC-link capacitors for electric vehicle drive inverters to be used in Hyundai Motor Group's next-generation dedicated EV platform, eM, in 2024," adding, "We expect the expansion of orders from clients such as Hyundai Motor Group to begin in earnest in the future." The outlook is that mid-to-long-term earnings growth will accelerate, driven by rising operating profit margins due to price hikes and the addition of significant orders for automotive electronic components.
※ Multi-Layer Ceramic Capacitor (MLCC) It is an ultra-small electronic component that stores electricity and releases it stably as needed.
joint venture 'SDI-GM Synergy Cells,' which recently decided to convert into a wholly owned entity after acquiring GM's stake.
Thousands are used in a single smartphone, and tens of thousands in an AI server, ensuring a constant flow of current in circuits.
It is called the 'rice of the electronics industry' because it is smaller than a grain of rice.
※ DC-Link Capacitor It is a component installed inside the inverter of an electric vehicle that converts battery electricity for motor drive, stabilizing fluctuating voltage.Directly linked to EV performance, it is considered a core component of eco-friendly vehicles.[Zootopia] [Zootopia] is an AI-based stock report briefing content that compiles and delivers reports from major domestic securities firms.
The photo shows Samsung SDI's headquarters in Giheung, Yongin, Gyeonggi Province / Photo = Newsis [Financial News] Here is a summary of reports from major securities firms for the morning of August 24.The photo shows Samsung SDI's headquarters in Giheung, Yongin, Gyeonggi Province / Photo = Newsis [Financial News] Here is a summary of reports from major securities firms for the morning of August 24.
[email protected] Seong Min-seo Reporter