ActRO (KOSDAQ: 290740), a South Korean manufacturer of electronic components, began mass production of parts destined for North American autonomous vehicles at its Vietnamese facility in July, Eugene Investment & Securities announced on the 7th.
The brokerage published a research note following a site visit to ActRO's two Vietnamese subsidiaries — ActRO VINA and ARP VINA — conducted between 2nd and 4th July.
According to the report, a single automated production line has been installed at ARP VINA's second factory. The line has a monthly capacity of 400,000 units, with full-capacity production expected to be achievable from October. The facility is currently approved to supply parts for three North American autonomous vehicle models, and the company is evaluating the addition of further lines depending on customer demand. The product in question is a "TOP (Heater) Housing Assembly," an automotive electronics component.
ActRO's separate business supplying actuators for humanoid robots remains at the sample-testing stage. Eugene Investment & Securities expects mass production to commence as early as the fourth quarter of this year, or the first quarter of next year at the latest.
Within the company's existing mobile-device actuator business, revenues from folded-zoom camera modules are expected to decline; however, rising demand for optical image stabilisation (OIS) actuators should offset the shortfall, keeping overall revenue broadly flat year on year.
Eugene Investment & Securities forecasts ActRO's 2026 revenue at 24.65 billion won, with operating profit of 10.1 billion won. At the current share price of 8,700 won, the stock trades on a forward price-to-earnings ratio of 7.5 times for 2026 — a substantial discount to the domestic sector average of 40.2 times.