The Elec 探访报道：三星SDI北美ESS扩张带动Shinheung SEC（243840.KQ）方形电池顶盖(cap assembly)出货放量，北美子公司收入预计2027年首破1000亿韩元

Samsung SDI’s expansion in the North American energy storage system (ESS) market is benefiting its suppliers. Shinheung SEC, which suspended operations after completing a new factory, is among the beneficiaries. With increasing shipments of ESS battery components, revenue at its North American subsidiary is expected to exceed 100 billion won in 2027 for the first time.
Shinheung SEC began construction of its Ulsan plant in September 2023 and completed it in August 2024. Despite investing 80 billion won, operations faced difficulties. The production line was suspended about four months after mass production of electric vehicle battery components began in January 2025 due to declining local demand. The plant resumed operations in January 2026, initially producing components for nickel-cobalt-aluminum (NCA) ESS batteries before shifting its focus to lithium iron phosphate (LFP) ESS components.
During a recent visit to Shinheung SEC’s Ulsan plant, production of cap assemblies used to seal the tops of prismatic batteries was in full swing. The production lines consist of presses that process aluminum sheets and automated equipment for component assembly and inspection. Each line manufactures products tailored to the battery specifications of individual customers.
Cap assemblies serve as lids for medium- and large-sized prismatic batteries. They transmit electrical current from inside the battery to the outside and release gas when internal pressure rises, reducing the risk of explosion. All output from the Ulsan plant is exported to the United States. About 80% of each product is completed in Ulsan, with the remaining components assembled at the company’s US plant. The two factories operate in a one-to-one arrangement aligned with customers’ US battery production lines. As the local ESS market expands, revenue at the North American subsidiary is expected to nearly quadruple from 25.4 billion won in 2025 to more than 100 billion won in 2027.
“Revenue remained in the 20 billion won range in 2025 because the Ulsan and US plants operated only during the first half, but it is expected to exceed 70 billion won in 2026,” a Shinheung SEC official said. The North American subsidiary generated 32 billion won in revenue in the first half of 2026, already surpassing its full-year revenue in 2025.
The two production lines currently operating each have a monthly capacity of 1 million to 1.3 million units, equivalent to a combined annual capacity of 24 million to more than 30 million units. Shinheung SEC is using automated equipment to improve productivity while placing emphasis on quality control.
Cap assembly manufacturing at the Ulsan plant begins with the pressing process on the first floor. Aluminum sheets supplied in rolls are pressed into basic frames. Shinheung SEC produces customized dies in-house according to battery specifications. The processed components then undergo six stages of cleaning and drying to remove oil and foreign substances deposited on their surfaces during pressing.
Shinheung SEC uses a water-based cleaning process involving high-pressure water, which helps reduce discoloration of aluminum surfaces caused by chemicals. The cleaned components are transferred to an automated assembly line in a second-floor cleanroom. Vents, positive and negative terminals, and current collectors are sequentially attached to the aluminum sheets. After assembly, the components undergo inspections for appearance, dimensions, airtightness and electrical short circuits.
“The defect rate at the Ulsan plant is about 0.3%,” a Shinheung SEC official said. “Although inspections are conducted using automated equipment, cameras cannot detect every defect, so dedicated personnel also perform visual inspections.”
Shinheung SEC is also preparing to expand its Ulsan plant to accommodate growing North American orders. The company has secured space for four additional automated lines beyond its four existing production lines. It plans to expand capacity to as many as eight lines depending on future order volumes. With the two currently operating lines capable of generating 50 billion to 70 billion won in annual revenue, a simple calculation suggests that operating eight lines could generate annual revenue of 200 billion to 280 billion won.
Shinheung SEC’s consolidated revenue for the first half of 2026 rose 23.8% from a year earlier to 255.2 billion won. Operating profit reached 6.8 billion won, reversing an operating loss of 2.2 billion won in the same period of 2025. The cap assembly business for medium- and large-sized prismatic batteries accounted for 176.8 billion won, or 69.3% of total revenue.