1. About Justem

Justem is a leader in N₂ Purge Systems, specializing in humidity control technology for semiconductor manufacturing environments. They are driving growth through continuous innovation, including the development of AIP-JFS with AI deep learning technology and expansion into the HBM market. Diversification into display, secondary batteries, and solar energy further enhances their growth potential.

2. Key Highlights of Q2 2025 Earnings

Justem achieved a turnaround in H1 2025, recording revenue of KRW 219 billion and operating profit of KRW 37 billion. This significant growth compared to the same period last year is primarily attributed to the robust performance of the semiconductor business. Improved debt-to-equity ratio further strengthens their financial health.

3. Positive Factors and Investment Opportunities

  • • Surprise Earnings: The impressive performance exceeding market forecasts is expected to boost investor sentiment.
  • • Turnaround Story: Consecutive quarters of profit demonstrate a clear trend of improvement, raising expectations for future growth.
  • • Growth Drivers: Entry into the HBM market and integration of AI technology secure future growth drivers.
  • • Strengthened Financials: The improved debt-to-equity ratio enhances investment appeal.

4. Investment Considerations

  • • Customer Concentration: Efforts to reduce reliance on specific clients are necessary.
  • • Increased Competition: Preparing for intensified competition in the semiconductor equipment market is crucial.
  • • Macroeconomic Factors: Global economic uncertainties can impact performance.

5. Action Plan for Investors

Justem presents a promising investment opportunity with its solid fundamentals and future growth potential. While a positive short-term stock performance is anticipated, investors should approach cautiously, considering the potential risks.