PIE Co., Ltd. (CEO Choi Jeong-il), a company specializing in vision inspection and smart factory solutions, is expected to continue its solid performance through continued investment in upstream industries and strengthened domestic and international sales capabilities.

PIE announced in a press release on the 28th that it aims to achieve 85 billion won in sales this year.

PIE has accumulated a lineup of AI-based vision inspection solutions applicable to all form factors and processes of secondary batteries, as well as field experience.

Thanks to such technological capabilities and experience, PIE's order backlog stood at 65 billion won as of the end of last year.

Based on this, PIE plans to strengthen its domestic and international sales capabilities and expand additional orders.

Choi Jeong-il, CEO of PIE, stated, “Global battery cell manufacturers are increasingly adopting vision inspection solutions from the early stages of facility investment to improve production yield and stabilize manufacturing lines.” "In addition, investment in new form factors is continuously expanding," they stated. "With large-scale orders driven by this within sight, PIE is expected to achieve significant growth this year."

CEO Choi added, “PIE has completed the development of inspection technology for new form factors, such as 46mm cylindrical and lithium iron phosphate (LFP) batteries, and expects additional orders to follow.”

Most of PIE's current order backlog is expected to be recognized as revenue this year.

In addition, it is projected that the company will easily achieve its target sales of 48.5 billion won in the first half and 85 billion won annually by continuing its order acquisition activities through increased customer investment and strengthened sales capabilities.

We plan to accelerate profitability-oriented management to further elevate our operating profit margin, which is currently at a respectable level compared to the industry average.

PIE plans to accelerate its expansion into the global market by combining the advancement of its AI vision inspection technology with new data-based smart factory businesses.

Meanwhile, PIE is preparing for an extraordinary general meeting of shareholders to be held on the 12th of next month, together with Hana Financial 25th SPAC. Discussions regarding the approval of the merger are scheduled to take place based on the recently adjusted corporate valuation, which is more market-friendly. If the merger is approved, trading of the new shares will begin on the KOSDAQ market in June, following the merger date on May 17.