KRX:006400

Nomura Adjusts Samsung SDI's Price Target to KRW900,000 From KRW540,000, Keeps at Buy

Samsung SDI Narrows Loss in Q1; Shares Jump 6%

Samsung SDI (KRX:006400) posted a first-quarter net loss attributable to shareholders of 28.1 billion won, narrowing from 220.5 billion won a year earlier, according to a Tuesday filing with the Korea Exchange.Sales of the battery and electronic materials manufacturer were up 13% year over year to 3.576 trillion won from 3.177 trillion won.Shares of Samsung SDI jumped over 6% in recent trade.

Samsung SDI, Mercedes-Benz Sign First EV Battery Supply Contract

Samsung SDI (KRX:006400) and German automaker Mercedes-Benz signed a multi-year agreement under which the former will supply batteries for next-generation electric vehicles to the latter, the battery and electronic materials manufacturer said in a Monday release.The batteries will feature high-nickel, cobalt, and manganese, which would offer high energy density, more driving range, long lifespan, and high power, the release said.The two firms will also collaborate on future mobility and develop next-generation battery technology, it said.Shares of Samsung SDI jumped nearly 5% at market close.