EVE Advanced Materials Makes Strategic Investment in 'Dwelling,' a Smart City Development Specialist
EV Advanced Materials announced on the 7th that it held a board meeting the previous day and resolved to invest in Dwelling's convertible bonds (CB).
According to the company, this investment will be made in the 2nd series of bearer, interest-bearing, unsecured private placement convertible bonds (CB) issued by Dwelling. EV Advanced Materials' investment amount is 5 billion KRW, and the purpose of the investment is to expand synergy with the transparent display business sector and to generate investment returns.
Before the investment, EV Advanced Materials conducted an analysis of future business collaboration models and a corporate valuation through an accounting firm.
Dwelling's sales last year were approximately 17 billion KRW, showing a high growth rate along with an excellent operating profit margin. The average annual sales growth rate over the past three years was 104.6%, and based on the company's free cash flow (FCF), the discounted cash flow (DCF) analysis indicates that solid growth is expected in the future, according to the company.
Founded in 2015, Dwelling manufactures smart shelters, air measuring devices, purification sterilizers, and bidirectional electrostatic precipitators based on air purification technology utilizing the Internet of Things and artificial intelligence big data.
In relation to the government's smart city development, Dwelling has conducted numerous public institution R&D projects and tests, receiving awards such as the Minister of Environment Award and the Minister of Land, Infrastructure and Transport Award. It is certified as a 'Hi Seoul Global Small Giant Company' and was selected last year as a Green Smart Zone operator in Gangnam-gu, Seoul.
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An EV Advanced Materials official stated, "We are currently striving to expand sales and improve profitability based on new orders for electric vehicle FPCB (flexible printed circuit boards) and transparent LED films," adding, "We will endeavor to sustain growth through efficient business diversification, strategic pre-investment, and business collaboration."
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