SM Vexcell's shares surged over 20% following the company's first successful battery export.
According to the Korea Exchange, as of 1:48 PM on September 8, SM Vexcell's stock was trading at 2,105 won, up 22.94% from the previous trading day.
The surge was driven by news that the battery division exported its flagship alkaline batteries to CP Group, Thailand's largest conglomerate.
This marks Vexcell's first overseas export. Thailand is one of the largest battery consumer markets in Southeast Asia, making this a significant step in the company's global expansion.
The batteries are set to begin shipping in mid-September and are expected to be available across Thailand through CP Extra, a distribution subsidiary of CP Group, as early as next month.
* This article has been translated by AI.
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