Spear is experiencing strong gains in early trading following news of expanded contracts with U.S. space launch companies.
As of 9:30 a.m. on June 11, Spear's stock was trading at 31,050 won, up 1,400 won (4.72%) from the previous trading day. At one point, the stock surged to 33,450 won, a 12.81% increase.
The company announced that it signed a supply contract for special alloys worth 201.6382 million won with a global U.S. aerospace launch firm. This amount represents 21.08% of its consolidated revenue from the previous year. The contract is set to last until February 15, 2027.
The contract is conditional, and the name of the partner company has not been disclosed due to a request for confidentiality. Spear noted that it has a track record of similar contracts with the partner over the past three years.
Additionally, Spear reported that its cumulative purchase orders from the U.S. global space launch company have exceeded $228 million (approximately 330 billion won) for the first time in over a year.
Spear stated, "This exceeds the initial minimum confirmed amount of the 10-year long-term supply contract between the two companies," adding, "As the customer accelerates the production schedule for next-generation launch vehicles, the demand for key materials has increased, leading to a larger order volume."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.