{"slug":"ecopro-hn","name":"에코프로에이치엔","name_en":"Ecopro HN","ticker":"383310.KQ","updated_at":"2026-07-12T03:56:29.332+00:00","canonical":"https://valuechain.wiki/ecopro-hn","citable":"밸류체인 그래프 기준 에코프로에이치엔의 직접 연결 기업은 2곳(관계 기준 공급 0·매출 1·투자 1)이고, 사슬을 2차까지 넓히면 6곳에 닿는다. 링크의 근거 출처는 6건이며 그중 1차공시가 0건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, Ecopro HN is directly linked to 2 companies (0 supply, 1 revenue, 1 investment relationships) and reaches 6 companies within two hops; the links are backed by 6 dated sources, 0 of them primary filings (as of 2026-07-12).","kicker":"코스닥 · 환경 소재 · 반도체 케미컬 필터·온실가스 저감","kicker_en":"KOSDAQ · Environmental materials · Semi chemical filters & GHG abatement","lead":"에코프로에이치엔은 에코프로그룹의 환경 계열사(지주사 에코프로가 지분 31.1% 보유)로, 반도체·디스플레이 클린룸용 케미컬 필터와 반도체 팹 온실가스 저감설비를 만든다. 본업인 케미컬 필터(매출 약 40%)는 클린룸 공기 중 분자오염물질(AMC)을 제거해 수율을 지키는 소모품이고, 온실가스 저감(RCS·PFCs 처리)은 삼성전자 테일러 파운드리 팹에 226억원(2024)을 공급하는 등 반도체 증설과 함께 큰다. 2026년 3월 대만 퉁샤오 LNG 발전소 SCR 239억원(전년 매출의 약 17%)을 수주하며 대형 환경설비로 사업을 넓히고 있다.","lead_en":"Ecopro HN is the environmental affiliate of the Ecopro Group (holding company Ecopro owns 31.1%), making chemical filters for semiconductor and display cleanrooms and greenhouse-gas abatement systems for chip fabs. Its core chemical-filter business (~40% of revenue) is a consumable that removes airborne molecular contaminants (AMC) from cleanrooms to protect yield, while greenhouse-gas abatement (RCS, PFCs treatment) grows with chip expansion — including KRW 22.6bn supplied to Samsung's Taylor foundry fab (2024). In March 2026 it won a KRW 23.9bn SCR order for Taiwan's Tongxiao LNG power plant (about 17% of prior-year revenue), broadening into large-scale environmental equipment.","segments":{"fy":2025,"parts":[{"desc":"반도체·디스플레이 클린룸 AMC 제거 소모품 — 본업, 매출 약 40%.","name":"대기환경(케미컬 필터)"},{"desc":"반도체 팹 온실가스 저감설비(RCS·PFCs). 삼성 테일러 팹 226억(2024) 등 팹 증설 연동.","name":"온실가스 저감"},{"desc":"미세먼지 저감 기능성 소재.","name":"미세먼지 소재"}],"total":"약 1,410억원 (2025, 역산)","concentration":"2026년 매출 1,914억(+36%)·영업이익 323억 전망. 2026.3 대만 LNG SCR 239억 수주(매출 대비 17%)."},"segments_en":{"fy":2025,"parts":[{"desc":"AMC-removal consumables for semiconductor/display cleanrooms — the core business, ~40% of revenue.","name":"Air environment (chemical filters)"},{"desc":"GHG abatement (RCS, PFCs) for chip fabs; tied to fab expansion, e.g. KRW 22.6bn Samsung Taylor (2024).","name":"Greenhouse gas reduction"},{"desc":"Functional materials for particulate-matter reduction.","name":"Particulate matter materials"}],"total":"~KRW 141bn (2025, implied)","concentration":"2026 outlook: KRW 191bn revenue (+36%), KRW 32bn OP; KRW 23.9bn Taiwan LNG SCR order (Mar 2026, 17% of revenue)."},"returns_yearly":{"2022":4.6,"2023":17,"2024":-47.7,"2025":38,"2026":-32},"return_asof":"2026-07-10","value_chain":{"leading":[{"slug":"marvell","name":"Marvell","name_en":"Marvell","tier":3,"returns_yearly":{"2021":84.6,"2022":-57.5,"2023":63.7,"2024":83.8,"2025":-22.8,"2026":177.8}},{"slug":"amd","name":"AMD","name_en":"AMD","tier":3,"returns_yearly":{"2021":56.9,"2022":-55,"2023":127.6,"2024":-18.1,"2025":77.3,"2026":160.5}},{"slug":"apple","name":"Apple","name_en":"Apple","tier":3,"returns_yearly":{"2021":34.6,"2022":-26.4,"2023":49,"2024":30.7,"2025":9.1,"2026":16.2}},{"slug":"broadcom","name":"Broadcom","name_en":"Broadcom","tier":3,"returns_yearly":{"2021":56.5,"2022":-13.3,"2023":104.2,"2024":110.5,"2025":50.6,"2026":16}},{"slug":"alphabet","name":"알파벳 (구글)","name_en":"Alphabet (Google)","tier":3,"returns_yearly":{"2021":65.3,"2022":-39.1,"2023":58.3,"2024":36,"2025":66,"2026":14.3}},{"slug":"nvidia","name":"NVIDIA","name_en":"NVIDIA","tier":3,"returns_yearly":{"2021":125.5,"2022":-50.3,"2023":239,"2024":171.2,"2025":38.9,"2026":13.3}},{"slug":"qualcomm","name":"Qualcomm","name_en":"Qualcomm","tier":3,"returns_yearly":{"2021":22.3,"2022":-38.6,"2023":35.1,"2024":8.3,"2025":13.8,"2026":11.7}},{"slug":"ibm","name":"IBM","name_en":"IBM","tier":3,"returns_yearly":{"2021":16.7,"2022":10.6,"2023":21.8,"2024":39.3,"2025":38.2,"2026":-1.6}},{"slug":"hyundai-motor-company","name":"현대차","name_en":"Hyundai Motor Company","tier":3,"returns_yearly":{"2021":-16.7,"2022":-4.7,"2023":16.2,"2024":12.3,"2025":158.8,"2026":-7.8}},{"slug":"tesla","name":"Tesla","name_en":"Tesla","tier":3,"returns_yearly":{"2021":49.8,"2022":-65,"2023":101.7,"2024":62.5,"2025":11.4,"2026":-9.3}},{"slug":"ligachem-biosciences","name":"리가켐바이오","name_en":"LigaChem Biosciences","tier":3,"returns_yearly":{"2021":-26.2,"2022":-18.1,"2023":37.1,"2024":151,"2025":60.5,"2026":-40.7}},{"slug":"samsung-electronics","name":"삼성전자","name_en":"Samsung Electronics","tier":2,"returns_yearly":{"2021":-9,"2022":-14.2,"2023":20.9,"2024":-26.4,"2025":212.9,"2026":77.9}},{"slug":"samsung-biologics","name":"삼성바이오로직스","name_en":"Samsung Biologics","tier":2,"returns_yearly":{"2021":-6.8,"2022":8.6,"2023":5.8,"2024":28.7,"2025":5,"2026":-20.1}},{"slug":"samsung-e-a","name":"삼성E&A","name_en":"Samsung E&A","tier":1,"returns_yearly":{"2021":74.5,"2022":20,"2023":-13.7,"2024":-15.9,"2025":76.7,"2026":43.2}}],"benefiting":[{"slug":"ecopro","name":"에코프로","name_en":"Ecopro","tier":1,"returns_yearly":{"2021":-5.1,"2022":94.5,"2023":309.5,"2024":-39.2,"2025":172.1,"2026":-47.1}},{"slug":"ecopro-materials","name":"에코프로머티리얼즈","name_en":"EcoPro Materials","tier":2,"returns_yearly":{"2024":-52.5,"2025":-4.9,"2026":-43.6}},{"slug":"ecopro-bm","name":"에코프로비엠","name_en":"EcoPro BM","tier":2,"returns_yearly":{"2021":79.2,"2022":23.9,"2023":113.5,"2024":-38.6,"2025":77.1,"2026":-47.6}}],"analysis":"투자 논점은 반도체 팹 증설에 올라탄 환경설비·소모품 회사라는 점이다. 본업 케미컬 필터(매출 ~40%)는 클린룸 AMC를 제거하는 반복 소모품이라 팹 가동에 연동되고, 온실가스 저감(RCS·PFCs)은 삼성전자 테일러 팹처럼 신규 팹 착공·증설에 맞춰 대형 단건이 잡힌다 — 2024년 테일러 팹 RCS 226억, 2022년 PFCs 319억이 그 예다. 여기에 2026년 대만 LNG SCR 239억(매출 17%) 수주로 반도체 밖 대형 환경설비까지 매출원을 넓히며, 지주사 에코프로(31.1%)의 배터리 소재 사이클과는 독립된 환경 성장축이다. 위험은 온실가스 저감 매출이 팹 착공 타이밍에 몰려 분기 변동성이 크고, 케미컬 필터 고객 실명이 공시되지 않아 매출 가시성이 제한된다는 점이다.","analysis_en":"The thesis is an environmental-equipment and consumables company riding chip-fab expansion. Its core chemical filters (~40% of revenue) are recurring consumables that remove cleanroom AMC, tied to fab utilization, while GHG abatement (RCS, PFCs) lands in large single orders timed to new fab construction and expansion — e.g. KRW 22.6bn for Samsung's Taylor fab (2024) and KRW 31.9bn for PFCs (2022). A KRW 23.9bn Taiwan LNG SCR order in 2026 (17% of revenue) broadens revenue into large environmental equipment beyond semiconductors, an environmental growth axis independent of parent Ecopro's (31.1%) battery-materials cycle. Risks are that abatement revenue clusters around fab-construction timing with high quarterly volatility, and that chemical-filter customers are undisclosed, limiting revenue visibility.","analysis_asof":"2026-07-10"},"edges":[{"direction":"revenue","counterparty":"삼성E&A (삼성전자 테일러 팹)","counterparty_slug":"samsung-e-a","confidence":"high","metric":{"type":"contract","unit":"원","as_of":"2024-06","basis":"테일러 팹 RCS","value":22600000000,"period":"2024 계약","basis_en":"Taylor fab RCS"},"note":"삼성전자 테일러 파운드리 팹용 온실가스 저감설비(RCS) 226억원 공급(삼성E&A 미국 법인 경유, 2024). 2022년에도 PFCs 처리설비 319억원 계약.","note_en":"KRW 22.6bn of greenhouse-gas abatement (RCS) equipment for Samsung's Taylor fab via Samsung E&A's US arm (2024), after a KRW 31.9bn PFCs deal in 2022.","sources":[{"stance":"confirms","publisher":"이투뉴스","publisher_en":"E2 News","kind":"news","lang":"ko","published_at":"2024-06-01","url":"https://www.e2news.com/news/articleView.html?idxno=243436","title":"에코프로에이치엔, 삼성ENG와 226억 온실가스 저감설비 계약","title_en":"Ecopro HN signs KRW 22.6bn GHG-abatement deal with Samsung E&A","excerpt":"삼성엔지니어링 미국 법인과 226억원 규모 온실가스 저감 설비(RCS) 공급 계약 — 텍사스 테일러 파운드리 공장 대상.","excerpt_en":"KRW 22.6bn RCS supply deal with Samsung E&A's US arm for the Taylor foundry fab."},{"stance":"confirms","publisher":"서울경제TV","publisher_en":"Seoul Economic TV","kind":"news","lang":"ko","published_at":"2022-11-07","url":"https://www.sentv.co.kr/article/view/sentv202211070114","title":"에코프로에이치엔, 삼성ENG와 319억 PFCs 설비 계약","title_en":"Ecopro HN: KRW 31.9bn PFCs treatment deal with Samsung E&A","excerpt":"삼성엔지니어링과 PFCs 처리 설비 공급계약 319억원.","excerpt_en":"KRW 31.9bn PFCs treatment equipment deal with Samsung E&A."}]},{"direction":"investor","counterparty":"에코프로","counterparty_slug":"ecopro","confidence":"mid","metric":{"type":"share","unit":"%","as_of":"2026-01","value":31.09,"period":"지분율"},"note":"지주회사 에코프로가 지분 31.1% 보유.","note_en":"Holding company Ecopro owns a 31.1% stake.","sources":[{"stance":"mentions","publisher":"FnGuide","publisher_en":"FnGuide","kind":"research","lang":"ko","published_at":"2026-01-01","url":"https://comp.fnguide.com/SVO2/asp/SVD_Corp.asp?pGB=1&gicode=A086520&MenuYn=Y&NewMenuID=102&stkGb=701","title":"에코프로 관계사 현황 (FnGuide)","title_en":"Ecopro affiliates (FnGuide)","excerpt":"FnGuide 관계사 현황: 에코프로에이치엔 31.09%.","excerpt_en":"FnGuide affiliate table: 에코프로에이치엔 at 31.09%."},{"stance":"confirms","publisher":"에코프로","publisher_en":"EcoPro","kind":"ir","lang":"ko","published_at":"2024-06-01","url":"https://www.ecopro.co.kr/sub010303","title":"에코프로 클로즈드 루프 에코 시스템","title_en":"Ecopro closed-loop eco system","excerpt":"리사이클링(씨엔지)→전구체(머티리얼즈)→수산화리튬(이노베이션)→양극재(비엠·이엠)로 이어지는 계열사들이 포항캠퍼스에 집적.","excerpt_en":"Recycling, precursor, lithium hydroxide and cathode affiliates are clustered in the Pohang closed loop."}]},{"direction":"revenue","counterparty":"반도체·디스플레이 클린룸 (케미컬 필터)","counterparty_slug":null,"confidence":"mid","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"본업 케미컬 필터(매출 약 40%) — 반도체·디스플레이 클린룸의 분자오염물질(AMC) 제거 소모품. 개별 고객 실명은 미공시.","note_en":"Core chemical-filter business (~40% of revenue): AMC-removal consumables for semiconductor and display cleanrooms; individual customers undisclosed.","sources":[{"stance":"mentions","publisher":"한국경제","publisher_en":"Korea Economic Daily","kind":"news","lang":"ko","published_at":"2026-06-19","url":"https://www.hankyung.com/amp/202606196645G","title":"에코프로에이치엔: 반도체·배터리 환경기술 성장 전망","title_en":"Ecopro HN: growth outlook on semiconductor and battery environmental tech","excerpt":"클린룸 케미컬 필터는 반도체·디스플레이 초정밀 공정에서 공기 중 분자 오염물을 제거해 수율을 유지하는 핵심 소모품.","excerpt_en":"Cleanroom chemical filters remove airborne molecular contamination to protect yields."},{"stance":"confirms","publisher":"전자신문","publisher_en":"ETNews","kind":"news","lang":"ko","published_at":"2026-03-31","url":"https://www.etnews.com/20260331000332","title":"에코프로에이치엔, 대만 LNG 발전 SCR 239억 수주","title_en":"Ecopro HN wins KRW 23.9bn Taiwan LNG SCR order","excerpt":"대만 퉁샤오 LNG 발전소 SCR 239억원 — 지난해 매출액 대비 약 17%.","excerpt_en":"KRW 23.9bn Taiwan LNG SCR order, ~17% of last year's revenue."}]}]}