[E-Daily Reporter Shin Ha-yeon ] ESSEN TECH CO., LTD.(043340), a company specializing in refrigeration and air conditioning components, announced on the 15th that its exports of refrigerant ball valves totaled 583,174 units from January through August of this year. This represents a 15.8% increase compared to the 503,440 units exported during the same period last year.

On a monthly basis, while export volumes in January and February declined compared to the same months last year, they exceeded the previous year’s figures for six consecutive months from March through August. In particular, April saw the highest monthly export volume so far this year, and July’s export volume increased by 21.2% compared to the same month last year.

On a quarterly basis, export volume in the first quarter rose 14.4% year-over-year, and in the second quarter, it increased by 19.4%. Combined export volume for July and August also rose 13.3% compared to the same period last year.

Along with the rise in exports, first-half performance also improved. ESSEN TECH CO., LTD.’s first-half revenue on a standalone basis rose 18.1% year-over-year, while operating profit surged 111.7%. The company explained that the expansion of exports of refrigerant ball valves contributed to the improved performance.

Refrigerant ball valves are components used to shut off or control the flow of refrigerant in refrigeration and air conditioning systems. In response to stricter environmental regulations and the shift toward low-carbon solutions in the global refrigeration and air conditioning market, ESSEN TECH CO., LTD. is expanding its product lineup to include eco-friendly refrigerants, such as those with low GWP (Global Warming Potential). The company plans to expand its customer base and application areas while building on its existing supply relationships with overseas clients.

ESSEN TECH CO., LTD. official stated, “Exports of refrigerant ball valves this year have exceeded the levels of the same month last year for six consecutive months since March, continuing a stable growth trend,” adding, “We place particular significance on the fact that the increase in export volume is leading to sales growth and improved profitability.”

The official continued, “We view the global refrigeration and HVAC market’s shift toward eco-friendly refrigerants as a new growth opportunity for ESSEN TECH CO., LTD.” adding, “Based on stable supplies to our existing overseas customers, we will actively expand our product lineup for eco-friendly refrigerants and secure new customers to strengthen our business structure, ensuring sustained export growth and improved profitability.”

Meanwhile, on the 25th of last month, ESSEN TECH CO., LTD. held a board meeting and decided on a stock consolidation to merge the par value per share from 1,000 won to 5,000 won, with the aim of stabilizing the stock price and enhancing corporate value by maintaining an appropriate number of shares in circulation. As a result, the number of issued shares is expected to decrease from 47.5 million to 9.5 million. The stock consolidation proposal will be presented at an extraordinary general meeting of shareholders on October 1, and the new shares are scheduled to be listed on November 3. This consolidation does not constitute a capital reduction.