Hi Investment & Securities raised its investment opinion "buy" and target stock price from 94,000 won to 156,000 won, saying that Hyosung's growth will become visible due to the expansion of the value chain of its hydrogen business.
According to Hi Investment & Securities on the 30th, Hyosung plans to participate in various areas in the hydrogen business value chain, including construction of liquefied hydrogen plants, supply of hydrogen charging stations and charging systems, and production of carbon fiber for hydrogen storage tanks.
Hi Investment & Securities said, "Hyosung has a portfolio centered on traditional-based industries such as textile, chemical and heavy industries, but it is expected to enter the eco-friendly energy market in earnest through hydrogen business in the future.".
Hyosung Heavy Industries signed a contract to invest in a joint venture (JV) with Germany's Linde Group in December last year to promote the liquefied hydrogen business, and this year, it established Linde Hydrogen Energy, a liquefied hydrogen production company, and Hyosung Hydrogen, a sales company.
"Hyosung Advanced Materials is the only carbon fiber manufacturer in Korea and plans to invest a total of 1 trillion won to increase the size of Jeonju's carbon fiber plant by 2028," said Hi Investment & Securities "We will produce up to 24,000 tons of carbon fiber per year.".
Reporter Lee Dong-hoon firstname.lastname@example.org