Secondary battery equipment company Mplus said on Aug. 14 it posted first-half net profit of 15.4 billion won this year, up 51.9 percent from a year earlier. Revenue was 83.0 billion won and operating profit was 14.2 billion won, keeping an operating margin of 17.1 percent.

Gross margin was 28.2 percent, improving by 3.7 percentage points from 24.5 percent a year earlier. The company focused on securing profitability rather than expanding sales through a selective order strategy. It explained this was the result of prioritising high-margin orders in its secondary battery assembly equipment business.

Mplus issued 20.0 billion won of unsecured private corporate bonds in the first half to secure growth drivers. DB Securities was the underwriter. The bonds carry an annual interest rate of 5.8 percent and will be repaid in a lump sum at maturity in June 2028. The company said the rate is lower than the general 8 to 10 percent range for mid- to long-term funding for midsize firms, calling it a result that demonstrates solid financial strength.

In the second half, it plans to raise an additional 20.0 billion won through a P-CBO (primary collateralised bond obligation) via the Korea Credit Guarantee Fund. It aims to secure a total of 40.0 billion won in mid- to long-term investment funds while maintaining a shareholder-friendly approach that does not dilute existing shareholders' stakes without a rights offering.

The fundraising aims to expand related businesses such as development and operation of autonomous mobile robots (AIMR). The company plans to pursue new businesses, including AIMR and all-solid-state battery equipment, by leveraging the profitability and technology base of its existing secondary battery assembly equipment business to respond to the spread of the Physical AI era.

A company official said, "As fundraising hurdles for listed companies rise, we will proactively secure liquidity capacity. We will also respond to demand shifts from existing pouch-type EVs to prismatic ESS and defence batteries, and further solidify new growth foundations such as autonomous control systems, AIMR and UV."