BH's supply of substrates for foldable phones with high unit prices has increased (Shinhan Financial Investment)
BH's supply of substrates for foldable phones with high unit prices has increased (Shinhan Financial Investment)
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  • 승인 2021.11.22 08:18
  • 최종수정 2021.11.21 23:28
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비에이치 CI.
비에이치 CI.

The target price of BH has increased.

It is predicted that it will record its biggest operating profit in 2022 as supply of soft printed circuit boards (FPCB) for foldable smartphones with high unit prices increases.

Shinhan Financial Investment raised its target price of BH from 25,000 won to 26,600 won on the 19th. The investment opinion maintained a 'buy'.

BH is a company that manufactures, sells, and exports soft printed circuit boards (FPCB) used in OLED. Apple, Samsung Electronics, and LG Electronics are the main customers.

"The unit price of soft printed circuit boards supplied to foldable smartphones by BH is higher than existing products," Shinhan Investment said. "It is expected to use its maximum operating profit on the back of increased shipments of foldable smartphones by major customers next year.".

BH is expected to generate 100.5 billion won in operating profit on a consolidated basis in 2022. It is a 52% increase from this year's operating profit forecast, which is the highest operating profit ever. Soft printed circuit boards for foldable smartphones are found to have a supply unit price of at least twice to up to 14 times higher than soft printed circuit boards for general smartphones.

Operating profit is expected to increase steeply in the fourth quarter of this year. Shinhan Financial Investment said, "BH is expected to perform well in the fourth quarter due to increased shipments of foldable FPCBs and solid demand from North American customers.".

BH is expected to generate sales of 937.5 billion won and operating profit of 65.8 billion won on a consolidated basis this year. Sales and operating profit are up 30% and 93% from last year.

Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com


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