Hana Technology aims for over 100 billion won sales in 2021

Battery equipment manufacturer Hana Technology is targeting over 100 billion won in sales in 2021.

Company CEO Oh Tae-bong told TheElec on Wednesday at its shareholders’ meeting that it was winning overseas customers and its technology for used battery equipment and future displays were yielding results.

Sales will increase substantially compared to 2020 and profitability will also improve, Oh said.

Last year, the company recorded 88 billion won in sales, an increase of 48.5% despite the COVID-19 pandemic. However, it was short of its sales target of 100 billion won. The firm also posted an operating loss due to increase cost of shipping products to overseas.

Hana Technology is aiming to actively win orders for equipment used in cylinder battery production. 

Its electrolyte injector is expected to be its mainstay this year. There is currently a global shortage in cylinder batteries due to rising demand for power tools and popularity of Tesla’s electric cars.

Samsung SDI is planning spend more on expanding its cylinder battery production. LG Energy Solution is also planning to do likewise in the second half of 2021.

Hana Technology is also wrapping up development of a new electrode coater, which is expected to be done within the first half of the year. This will allow it to offer various assembly kits in turn-key that can be used in cylinder, prismatic and pouch-type battery production. PNT has been the only company that can offer electrode and assembly kits in turn-key so far. Hana will likely compete fiercely with PNT going forward.

Hana Technology is also developing an in-line assembly equipment for cylinder batteries.

The company is expecting Samsung SDI to account 35% of its sales, while LG will take up 25% and SK Innovation 20%. The remaining 20% will be taken up by overseas customers.

Electrode kits will account for 5% of its sales; assembly equipment 50%; formation equipment 30%; and packaging 10%.