Nuclear Power, Semiconductor Equipment, Robots: Leading Stocks for the Second Half of the Year

Recently, nuclear power related stocks showed strength in the domestic market due to reports that the U.S. government might restrict the acquisition of a stake in Westinghouse. Although the government denied these reports, securities firms released reports suggesting such a possibility, fueling the rise of related stocks.

In this atmosphere, the stock prices of major nuclear power related companies, including KEPCO E&C, BHI, Doosan Enerbility, and Hyundai E&C, rose simultaneously.

CEO Kim Tae-yoon predicted that Samsung Electronics and SK Hynix stock prices would gradually trend upwards, but it would be difficult for them to show the same steep upward curve as in the first half of the year. Instead, he anticipated that semiconductor materials, parts, and equipment (SoBuJang) related companies would bring higher expected returns in the second half of the year.

This is based on the analysis that the recent strength of semiconductor equipment stocks supports their potential as leading stocks in the second half, and market interest will shift from large-cap stocks to small and mid-cap SoBuJang companies. Investors should pay attention to SoBuJang companies with high growth potential rather than large semiconductor companies.

Amid changes in the semiconductor market, SoBuJang companies are expected to directly benefit from technological advancement and increased investment.

Despite recent issues related to Tesla's robotaxi, CEO Kim Tae-yoon assessed that the robot sector is more suitable for the current market's leading stock trend than the autonomous driving theme. While autonomous driving also has high long-term growth potential, the current market is focusing on the robot industry, which is closer to actual commercialization and mass production.

Considering the link between autonomous driving and robots, companies like SOS Lab could be alternatives, and these companies are expected to act as key growth drivers for future advanced industries.

SBB Tech, widely known as the first company to localize harmonic reducers in Korea, has been securing new growth engines by expanding its business into the actuator sector since the second half of last year.

This business expansion holds momentum from the growth of the humanoid robot market and the possibility of cooperation with Hyundai Motor, attracting investors' attention.

CEO Kim Tae-yoon advised that the appropriate time to buy stocks is when U.S. Treasury yields, after peaking, become rigid rather than rising further, due to the U.S. Treasury's expanded buyback and intervention using the Treasury General Account (TGA). He emphasized the importance of accurately distinguishing which sectors are favorable based on market sentiment and the macroeconomic environment, rather than solely relying on news articles.

No matter how strong an issue is, if it doesn't align with the market environment, stock prices may only show an upper wick and decline, so macroeconomic environment analysis must be conducted when making investment decisions.

Accurately understanding the current trend of the interest rate market and predicting the direction of the stock market accordingly will be a key strategy for successful investing.

Investors should closely monitor the trend of U.S. Treasury yields and dedicate time to understanding the overall market flow and the characteristics of each sector.

As the U.S. Treasury is expected to continue its policy efforts to suppress rising bond yields, high PER (price-to-earnings ratio) sectors, i.e., growth stocks, are anticipated to emerge as promising investment opportunities if bond yields stabilize near their peak.

This is because growth stocks tend to be valued more highly in a low interest rate environment, and investors should pay attention to companies with high growth potential.

SBB Tech recently signed a contract worth 2 billion won with a domestic robot manufacturer to supply precision reducers for humanoid robots. This is the second contract this year, already achieving over 60% of last year's sales.

This expansion of supply contracts demonstrates SBB Tech's technological prowess and market competitiveness, and is expected to be a significant milestone in line with the growth of the humanoid robot market.

In particular, the possibility of being included in Hyundai Motor's MobED (Mobility Exoskeleton for the Disabled) supply chain further increases expectations for SBB Tech's growth momentum.

SOS Lab is being reevaluated for its value as a robot component, especially LiDAR, supplier beyond its traditional autonomous driving theme. LiDAR sales are already being generated for Hyundai Motor Robotics Lab's MobED, demonstrating that SOS Lab's technology is leading to actual commercialization.

Furthermore, with expectations for LiDAR supply for the humanoid robot Atlas, SOS Lab is attracting attention as a key player in the growth of the robot industry.

CEO Kim Tae-yoon analyzed that the rally in the first half led by large-cap stocks like Samsung Electronics and SK Hynix is concluding, and there's a high possibility of capital shifting to highly elastic small and mid-cap stocks in the second half. Unlike before, small and mid-cap stocks, rather than large-caps, are expected to lead the stock market in the second half.

This is because investors are anticipated to pursue higher returns in relatively lighter small and mid-cap stocks, also suggesting a potential diversification of market interest.

Therefore, when formulating investment strategies, considering a portfolio focused on small and mid-cap stocks may be advantageous.

HPSP continues robust growth as new leading-edge process investments, centered in the U.S., resume in its existing foundry segment, its primary revenue source. In addition, it is securing new growth drivers by expanding its sales channels into the memory semiconductor market, particularly high-spec memory such as 300-layer or more NAND flash.

This is driven by increased investments from North American customers, including Micron, and rising demand for post-process equipment, further enhancing HPSP's growth potential.

Recently, both front-end and back-end equipment stocks in the semiconductor sector showed a trend of co-growth. Among front-end equipment companies, HPSP demonstrated the strongest elasticity, attracting market attention.

Deposition equipment related companies such as Wonik IPS, Jusung Engineering, Eugene Technology, and TES also rose by 2% to 7%, while in back-end, small and mid-cap stocks related to test equipment and reflow equipment surged, continuing their strong performance.

CEO Kim Tae-yoon pointed out that directly comparing the PER (Price-to-Earnings Ratio) of semiconductor material companies and equipment companies is an incorrect approach when evaluating semiconductor companies. He explained that material companies naturally tend to have lower PERs, making it more reasonable to compare them with other material companies.

In the capital expenditure (Capex) investment cycle, front-end equipment companies tend to achieve higher returns, and evaluations that do not consider these characteristics can distort investment judgments, he emphasized.

Therefore, investors need to fully understand each company's business model and industry characteristics and set appropriate comparison groups for evaluation.

An analysis suggests that Hanall Biopharma is undervalued as its market capitalization proportion relative to Immunovant's market cap has fallen to around 40%. The logic that the gap between Immunovant's and Hanall Biopharma's market capitalization can be reduced highlights its upside potential.

CEO Kim Tae-yoon conservatively estimated that even if Hanall Biopharma's value is recognized as only 40% of Immunovant's market cap, there is still room for additional upside from the current market capitalization of 3 trillion won to around 5 trillion won.

CEO Kim Tae-yoon emphasized the need to pay attention to Hyundai Engineering & Construction as a trading swing stock among nuclear power related companies. Hyundai E&C not only benefits from the nuclear power theme but also from data center construction.

In particular, the Saemangeum Data Center project and its connection with Hyundai Motor Group companies are cited as factors enhancing Hyundai E&C's growth potential.

Furthermore, it possesses scalability with issues related to inter-Korean economic cooperation and Middle East reconstruction projects, thus exhibiting investment appeal across various themes.

As Hyundai E&C encompasses several key growth themes simultaneously, it is evaluated as a stock that can flexibly respond to market changes.

CEO Kim Tae-yoon highlighted IT-Cen Global as a digital asset law related stock, proposing a strategy of betting on rising Bitcoin and gold prices and a weakening dollar. This connects to an analysis of the background behind President Trump's continuous call for the passage of the Clarity Act.

It is interpreted that the Trump administration's intention is reflected, where if the Clarity Act passes, the stablecoin market will be activated, thereby creating demand for U.S. Treasury bonds.

Hanmi Pharm's stock recently experienced a short-term adjustment due to the prominent issue of technology transfer for its 'yurukritin analogue' pipeline, but CEO Kim Tae-yoon judged that there is no reason to sell at present. This is because despite a significant adjustment, it quickly rebounded.

This suggests that the technology transfer issue could act as a positive momentum, and the focus should be on long-term corporate value rather than short-term stock price fluctuations.