1. What Happened in H1 2025?
SEMCO recorded consolidated revenue of KRW 5.5233 trillion in H1 2025, a 6.5% increase year-over-year. This growth was primarily driven by a 17.3% increase in camera module ASP and a 0.3% increase in MLCC ASP. Increased demand for high-performance camera modules for smartphones and automotive applications, along with expanding demand for MLCCs in the automotive and AI server markets, were key growth factors.
2. Key Strengths and Risk Factors
- Strengths:
- Revenue growth and strong sales of key products
- Increased ASP for camera modules and MLCCs
- Expansion of R&D investment
- Strengthened financial soundness
- Risk Factors:
- Rising raw material prices
- Intensified competition in the package solution sector
- Macroeconomic volatility (exchange rates, interest rates, logistics costs)
3. Impact on Fundamentals and Investment Strategies
These results are expected to positively impact SEMCO’s fundamentals, with improvements in profitability, securing future growth engines, and enhancing financial stability. However, investors should also consider risk factors such as rising raw material prices and intensifying competition. A comprehensive assessment of these factors is crucial for developing investment strategies. Building a balanced portfolio and maintaining a long-term perspective are essential.
4. Action Plan for Investors
It’s important to maintain a long-term investment strategy without being swayed by short-term market fluctuations. Continuously monitor the company’s fundamentals and growth potential, while diligently managing risks. Diversification is also a prudent strategy to mitigate risk.