Glass-Substrate Material Supply Begins

Soulbrain reported second-quarter revenue of 312 billion won and operating profit of 46 billion won on August 14. Revenue rose 36.3% from a year earlier, while operating profit jumped 128.2%. From the previous quarter, revenue increased 18.3% and operating profit gained 3.0%.

The increase in semiconductor-material sales came as higher utilization rates at customers followed a recovery in the chip industry. Semiconductor-material revenue rose 19.2% from the previous quarter to 267.3 billion won, accounting for 86% of total revenue. Supplies to new overseas production lines operated by major customers also increased. The sales are believed to include shipments to Samsung Electronics Co.’s Taylor fab in Texas.

Display-material revenue rose 15.4% from the previous quarter to 23.2 billion won as sales of quantum-dot (QD) materials for IT monitors gradually increased. Soulbrain also began supplying samples for technology validation of glass substrates. The company is pursuing development of materials for small- and medium-sized organic light-emitting diode (OLED) displays as well as supplies of materials for non-display applications.

Battery-material revenue increased 18.9% from the previous quarter to 21.5 billion won, supported by solid sales of overseas electrolyte materials. Demand temporarily declined, however, because of production-line conversion at a customer. In the second half, Soulbrain expects lead-tab sales to increase as North American energy storage system (ESS) and electric vehicle (EV) markets recover, along with higher ESS-related demand.

Soulbrain has also begun preparations in earnest to establish a plant in Texas. The company established local sales unit Soulbrain TX LLC in 2022 and production unit Soulbrain RASA TX LLC in 2024, and is now pursuing a local manufacturing base. The City of Taylor has identified Soulbrain TX LLC as the applicant for a tax-abatement agreement covering a phosphoric-acid plant and a hydrofluoric-acid plant.

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