1. Ecopro BM IR Key Takeaways (September 16, 2025)

This IR will primarily cover Ecopro BM’s first-half 2025 business performance and future growth strategies. Investors are particularly keen to hear concrete answers regarding plans for profitability improvement and securing financial soundness. The sharing of information on the development status and market outlook for next-generation battery materials is another key point to watch.

2. Fundamental Analysis: Coexistence of Growth and Risk

Growth Drivers: The steady growth of the electric vehicle market is supporting Ecopro BM’s sales growth. Next-generation material development and CAPA expansion are also positive factors.

  • Risk Factors: Volatility in raw material prices, intensifying competition, and increasing debt are putting pressure on profitability and financial soundness.

Key Indicator Analysis: While sales increased year-on-year in the first half of 2025, the operating profit margin remains low at 3.63%. The deteriorating operating cash flow and increasing debt trend also require attention.

3. Market Environment Analysis: Opportunities and Threats

Opportunities: Growth in the global electric vehicle market suggests continued demand growth.

  • Threats: The possibility of slower growth in the European and North American markets, raw material price volatility, increasing exchange rate and interest rate volatility, and intensifying competition are increasing uncertainty.

4. Post-IR Investment Strategy: Careful Approach After Information Verification

It is crucial to thoroughly analyze the information presented in this IR to confirm whether profitability and financial soundness are improving. Pay close attention to management’s strategies for improving profitability, securing financial soundness, and the roadmap for the growth of next-generation materials businesses. While mid- to long-term growth potential remains valid, short-term stock price volatility should be noted. The investment recommendation is ‘Hold’, and it is advisable to make investment decisions considering the IR results and future market conditions comprehensively.