BH Co., Ltd.(090460.KOSPI), a South Korean PCB listed company, has announced a new facility investment of KRW 60 billion (10.4% of equity) in Vietnam, as disclosed on October 10th. This new facility investment aims to diversify the portfolio and drive additional growth by supplying new PCBs to customers in North America. 

The decision is viewed as positive due to the company's efforts to reduce the revenue dependence on mobile phones and gradually diversify sales towards other markets. Although the additional revenue in 2024 is expected to be minimal, the acquisition of HDI technology and production capabilities through this investment is anticipated to provide new growth opportunities from 2025 onwards. 

The new facility investment by BHI is estimated to be in the field of high-density interconnect (HDI) PCBs, expanding the portfolio beyond flexible PCBs to include rigid PCBs (HDI) for new growth. The investment also includes expansion into other market segments, with positive evaluations. After the new investment, it is expected that the supply of HDI PCBs for Apple iPad will lead to an expansion from mobile phones to the tablet PC sector. Additionally, with the anticipated expansion of OLED application to laptops (MacBooks) after 2025, further supply and reflective benefits are expected. The acquisition of HDI technology and production capabilities is expected to enhance the company's competitive edge in existing market segments (such as wireless chargers for automobiles) and contribute to revenue growth.

About BH Co., Ltd.

Established in 1999, BH is headquartered in Incheon Metropolitan City, South Korea. The company went public on the KOSDAQ in 2007 and transferred to the KOSPI on June 20, 2023. BH specializes in the production of fine pattern flexible printed circuits (FPC) for display screens and high-value rigid-flex PCB products. It supplies major domestic enterprises and exports to leading IT companies and smartphone industry giants in the United States, Japan, and China, including renowned brands like Apple and Samsung.

BH operates production subsidiaries and offices in South Korea, China, Vietnam, and Japan.

Notably, BH supplies 65% of the FPCs (used for displays) in the Apple iPhone 14 Pro series. Furthermore, the company is actively fostering new market areas such as automotive electronic drives, automation machinery (robots), and semiconductor ceramics to gain momentum for future growth.

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