A-Pro turns to the black in Q1
Thanks to the profitability from battery equipment
A-Pro said on Monday that it recorded 60.1 billion won in revenue and 8.2 billion won in operating profit.
Revenue jumped 195.6% from a year ago while operating profit turned to the black from a year ago.
A-Pro currently has over 140 billion won of remaining orders for battery equipment; the company won a large deal in November last year from Ultium Cells, the joint venture between LG Energy Solution and General Motors.
A-Pro talked up its expansion into the US when it was listed on the South Korean exchange in July 2020.
Its main customer LG Energy Solution is expanding its spending in the US, which is propelling A-Pro’s growth.
Ulitum Cells is building new factories in Ohio, Tennessee and Michigan, which will give more orders to A-Pro.
A-Pro is also developing gallium nitride semiconductors through its subsidiary, A-Pro Semicon.
The chip firm is testing device production with a foundry company based in Singapore; it is also developing an 8-inch GaN process with DB Hitek.