Shin Heung Energy & Electronics Co

What Shin Heung Energy & Electronics Co does

Shinheung SEC Co., Ltd. (신흥에스이씨(주)) is a South Korea-based, KOSDAQ-listed manufacturer of secondary-battery components founded in 1979 and headquartered in Osan-si, Gyeonggi-do. The company designs and produces can assemblies, cylindrical battery parts, prismatic battery parts, and battery pack/module assemblies for the global battery supply chain. Its primary customer is Samsung SDI, for whom it serves as a qualified Tier-1 parts supplier supporting EV, energy storage system (ESS), and consumer-electronics battery programs; the company explicitly flags single-customer dependency in its shareholder communications and is in exploratory discussions with LG Energy Solution to broaden its customer base.

The company's product portfolio is organized into four lines: small-format battery parts, large-format battery parts (including ESS applications), a battery pack/module integration business, and a new-growth segment focused on LFP prismatic battery components. Manufacturing is distributed across Korea (Osan, Ulsan), Hungary, and a greenfield facility under construction near Indianapolis, Indiana, following the establishment of its US subsidiary in 2023. This geographic footprint is engineered to co-locate with Samsung SDI's global gigafactory network and to mitigate tariff and logistics exposure. The 2023 net income of 30,936 million KRW and a BB+ Stable credit rating from NICE Assessment Information characterize the company as a profitable, mid-tier component supplier with disciplined capital structure but modest absolute scale relative to the broader battery value chain.

Revenue is generated through a direct B2B hardware-sales model with quote-based pricing to cell manufacturers; no public pricing or contract terms are disclosed. The go-to-market motion is enterprise field sales targeting major cell makers, supported by domestic and overseas IR conferences and NDR sessions with institutional investors. With 1,001-5,000 employees, an active patent portfolio, and ongoing R&D into LFP chemistries and pack/module integration, the company is positioned as a niche specialist executing a follow-the-customer geographic expansion strategy rather than a broad-line battery platform.

Name

Shin Heung Energy & Electronics Co

Legal name

Shinheung SEC Co., Ltd. (신흥에스이씨(주))

Website

https://shsec.co.kr

Company type

Public

Founded year

1979

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Shinheung SEC Co., Ltd. is a South Korea-based, KOSDAQ-listed manufacturer of secondary-battery components (can assemblies, cylindrical and prismatic parts, and pack/module assemblies) supplying primarily Samsung SDI for EV, ESS, and consumer-electronics battery programs, with manufacturing operations in Korea, Hungary, and a new US facility.

Ownership category

akta.pro rank

Product category

Battery Components Manufacturing

NAICS

Battery Manufacturing (33591), Other Electrical Equipment and Component Manufacturing (3359), Electrical Equipment Manufacturing (33531)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600), Electrical Industrial Apparatus (3620), Miscellaneous Electrical Machinery, Equipment & Supplies (3690)

akta.pro primary industry

Battery Modules & Packs (Industrial/Commercial pack assembly) (IMAGAHAB)

akta.pro secondary industries

Battery Pack Manufacturing & Module Assembly (EUAFABAI), Battery Management Systems (BMS) & Battery Electronics (IMAGAHAC)

Keywords

• Battery components manufacturing
• Lithium-ion battery parts
• Cylindrical battery components
• Prismatic battery parts
• Battery pack modules

Headquarters

HQ city

Osan

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Battery Components Sales: Manufacturing and sales of battery components including can assemblies, cylindrical battery parts, and prismatic battery parts to major battery manufacturers such as Samsung SDI

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Shinheung SEC manufactures battery components for secondary (rechargeable) batteries, including can assemblies, cylindrical battery parts, prismatic battery parts, and battery pack/module assemblies. The company supplies these parts to major battery cell manufacturers, principally Samsung SDI, for use in consumer electronics, electric vehicles, and energy storage systems. It is also developing LFP prismatic battery components for ESS and mid-to-low price market applications as a new growth area.

Product overview

Shin Heung Energy & Electronics Co (신흥에스이씨) is a battery component manufacturer operating as a single unified business focused on the green energy sector. The company operates four interconnected product/service areas: Small Battery Parts (components for small-format batteries), Large Battery Parts (components for large-format batteries including ESS), Battery Pack Module Business (pack and module assembly), and New Growth Business (LFP battery development and overseas expansion). The primary customer is Samsung SDI, with components supplied including cans and cap assemblies.

Differentiator

Problem solved

Functional benefit

Products and services

• Small Battery Parts Components and parts for small-format rechargeable batteries, supporting the battery manufacturing supply chain for consumer electronics and portable devices. Serves battery cell producers including Samsung SDI.
• Large Battery Parts Components and parts for large-format rechargeable batteries used in energy storage systems (ESS) and electric vehicles, covering cylindrical and prismatic cell form factors. Serves major battery cell producers including Samsung SDI.
• Battery Pack Module Assembly Battery pack and module assembly business combining Shinheung SEC's battery components into complete battery pack and module systems for downstream applications including EVs and ESS.
• LFP Prismatic Battery Components (New Growth Business) LFP prismatic battery components under development, targeting energy storage systems (ESS) and the mid-to-low price EV battery market, as part of the company's new growth strategic initiative including overseas (US, Europe) expansion.

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Samsung SDIcoreStrategic or Co-development Partner · 1 January 2024Primary customer and strategic partner for battery components. Company supplies can assembly, cylindrical battery parts, and prismatic battery parts. Single major customer dependency noted in shareholder communications. Discussions ongoing for LFP prismatic battery components for ESS applications.
• LG Energy SolutionminorStrategic or Co-development PartnerPotential new customer being explored. According to shareholder Q&A, LG Energy Solution may be in discussions for prismatic battery component supply, which would provide customer diversification beyond Samsung SDI.

Scale indicators3 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• Manz AG: German battery production equipment and contract manufacturer serving European cell makers and OEMs with module/pack assembly lines. Comparable in module assembly scope and Western-market positioning to Shinheung's planned European expansion via Hungary.
• Wuxi Lead Intelligent Equipment: Chinese provider of battery manufacturing equipment and integrated production lines, including pack/module assembly solutions. Comparable as a battery production-enablement peer that competes with Shinheung's module business for cell-maker capex in China and increasingly in Western markets.
• Zhejiang Hangke Technology: Chinese battery pack and module assembly specialist serving both EV and ESS applications, including LFP-based systems. Closest emerging-market parallel to Shinheung's module business, with comparable product scope but meaningfully lower cost base and access to Chinese cell-maker customers.

Broad incumbents

• Dürr AG: German industrial engineering firm with a significant battery production equipment and module assembly business serving European and US gigafactory projects. Overlaps with Shinheung in module assembly scope but operates at a much larger scale and across a broader product portfolio.
• POSCO Future M: Korean-listed battery materials and components supplier (anode materials, cathode precursors, battery parts) serving the same Samsung SDI / LG Energy Solution customer base. A larger, more diversified upstream supplier that overlaps with Shinheung in prismatic and cylindrical component supply to the Korean LIB ecosystem.
• EcoPro BM: Major Korean high-nickel cathode materials supplier with growing exposure to battery components and pack materials. While primarily upstream in cathode chemistry, it competes for capital, talent, and customer share within the same Korean battery supply chain that Shinheung serves.

Regional players

• Hansol Chemical: Korean specialty chemicals and battery materials supplier with growing exposure to battery components and pack materials for Korean LIB makers. Comparable as a Korean-headquartered, KOSDAQ/KRX-listed battery supply-chain player serving the same Samsung SDI / LG Energy Solution ecosystem.
• LS Mtron: Korean industrial conglomerate subsidiary active in battery pack and module assembly as well as electric vehicle charging. Highly comparable to Shinheung's pack module business, targeting the same Korean cell makers and end-OEM customers with adjacent capabilities.

Direct peers

• Sangsin EDP: Korean battery component manufacturer supplying electrode parts, battery cans, and cap assemblies to Korean cell makers including Samsung SDI and LG Energy Solution. Closest direct comparable - same product categories, same customer set, same Korean manufacturing base, and overlapping expertise in cell-pack structural components.
• Senior Technology: Chinese manufacturer of battery cans, caps, structural components, and pack parts for cylindrical and prismatic cells. Directly competitive with Shinheung's small and large battery parts product lines, particularly for global cell makers pursuing dual-sourcing strategies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/shin-heung-energy-electronics-co-ltd

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shin Heung Energy & Electronics Co