On July 29, according to Korean media reports, SKCKolonPI announced that it has started mass production facilities for liquid polyimide slurry (PI Varnish). The company said that the new PI film production line will also start this month, and the company expects sales growth in the second half of the year.
It is understood that on March 13 this year, SKCKolonPI stated that the company invested about 10 billion won (equivalent to RMB 58.32 million) in the construction of the PI Varnish factory to complete trial production, and will officially supply mass production products from the second quarter.
PI Varnish refers to liquid polyimide. Its uses are diverse, such as semiconductor insulating materials, substrate materials for display panels instead of substrate glass, insulating rubber materials for electric vehicle motors, etc. A person in the company said that "PI Varnish for semiconductors has the function of forming a protective film on the surface of the semiconductor to maintain the semiconductor function from the external environment. It is the field with the highest technical level."
However, at that time, the company failed to ensure a sufficient number of customers, so the start-up time of the production line originally scheduled for the second quarter was delayed. Now as the company's PI slurry enters mass production, the company's PI slurry production capacity reaches 600 tons / year.
SKCKolonPI achieved mass production with this liquid polyimide slurry PI Varnish, and officially entered the liquid PI business.
In addition, SKCKolonPI also started operating a PI film production line with an annual output of 600 tons from this month. After the operation of this production line, the company's PI film production capacity increased from 3,300 tons per year to 3,900 tons per year. The company expects that the new PI film production line is expected to achieve additional sales of 40 billion to 50 billion won (equivalent to RMB 233 million to 291 million) per year.
It is understood that SKCKolonPI's sales in the second quarter of 2019 were 62.4 billion won (equivalent to RMB 360 million), and operating profit was 9.9 billion won (equivalent to 577.4 million). Sales and operating profit decreased by 7.8 compared to the same period last year. % And 40.9%. Compared with the previous quarter, the company's sales and operating profit increased by 55.2% and 215.0%, respectively.
Relevant person in charge of SKCKolonPI said that starting from the second quarter, the company's smartphone industry and domestic and foreign operating environment problems have been resolved to a certain extent, market demand has rebounded significantly, and the second half will exceed last year's revenue performance.
He also said that the current demand for PI from the rise of foldable phones, 5G and other mobile industries has not been fully reflected in the market. However, with the rapid development of the mobile industry, the demand for PI materials in industrial fields such as electric vehicles, lithium batteries, multilayer ceramic capacitors (MLCC), and semiconductors will gradually expand.
Relevant information shows that SKCKolonPI is a company jointly established by SKC and Kolon in the polyimide film business in June 2008. The two sides set up a joint venture company at a ratio of 5 to 5, forming a cooperative and competitive relationship.
SKCKolonPI's PI film is a cutting-edge, high-performance material that is resistant to high and low temperatures. It can be made into FPCB, heat dissipation film, and applied to various fields such as smart phones, semiconductors, automobiles, and aviation. It is not only the material of Samsung Electronics' foldable mobile phone substrate, but also the material of electric vehicle battery insulation paste, and it is one of the main materials of the future industry. Currently, the company has a global market share of 30%.
On July 11, this year, according to a Korean economic report, SKC and Kolon will transfer their partner company, polyimide (PI) film maker SKCKolonPI, and received a letter of intent to acquire large-scale private equity funds (PEF) at home and abroad. .
It is understood that the object of the transfer is 54% of the shares, including the operating rights of SKCKolonPI. SKC and Kolon each hold 27% of the shares. The industry estimates that the transaction value will exceed 700 billion won (approximately RMB 4.078 billion).
However, on July 12, SKCKolonPI stated that the company ’s largest shareholders SKC and Kolon have not made any specific decisions so far, and specific issues will be re-announced within the next month.