{"id":1698,"date":"2021-05-15T05:34:32","date_gmt":"2021-05-15T05:34:32","guid":{"rendered":"https:\/\/inocycle.com\/?p=1698"},"modified":"2021-05-20T04:03:05","modified_gmt":"2021-05-20T04:03:05","slug":"shinhan-research-innovate-to-sustain-the-growth","status":"publish","type":"post","link":"https:\/\/inocycle.com\/en\/shinhan-research-innovate-to-sustain-the-growth\/","title":{"rendered":"Shinhan Research - Innovate to sustain the growth"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"1698\" class=\"elementor elementor-1698\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ca54910 elementor-section-boxed elementor-section-height-default elementor-section-height-default parallax_section_no qode_elementor_container_no\" data-id=\"ca54910\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-968f2a6\" data-id=\"968f2a6\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6317547 elementor-widget elementor-widget-text-editor\" data-id=\"6317547\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"text-align: justify\">INOV booked revenue of IDR 380bn (+ 27.8% YoY) in 9M19, in line with our estimates by achieving 72.5% run-rate against the full-year projection. Solid top-line growth was mainly supported by the double-digit growth in the sales of fiber by 36.4% YoY, with a contribution to total net sales reached 79%, up from 74% recorded in 9M18. We believe the increase was due to growing demand from export, representing around ~ 30% of total revenue, as the company manages to capture the opportunity from China&#039;s waste import tires and the country&#039;s ongoing trade conflict with the US. The sales from homeware segment decreased by -22.5% YoY, we suggest that it was caused by the shifting in sales mix as 68.1% are sold directly to its customer, while 31.9% are sold to affiliated parties in 9M19, lower compared to 34.8% in 9M18. Sales of non-woven products grew by 12.0% YoY and become the second-largest contributor to total net sales with 16%, relatively stable from 18% in 9M18 along with its versatility to be used in various industries such as geotextile and automotive.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f4824a0 elementor-widget elementor-widget-bridge_button\" data-id=\"f4824a0\" data-element_type=\"widget\" data-widget_type=\"bridge_button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<a  itemprop=\"url\" href=\"https:\/\/inocycle.com\/download\/SSI-INOV-Nov-26-2019_compressed.pdf\" target=\"_blank\"  class=\"qbutton  default\" style=\"\">Download<\/a>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>INOV booked revenue of IDR 380bn (+27.8% YoY) in 9M19, in line with our estimates by achieving 72.5% run-rate against the full-year projection. Solid top-line growth was mainly supported by the double-digit growth in the sales of fiber by 36.4% YoY, with a contribution to&#8230;<\/p>","protected":false},"author":3,"featured_media":1699,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Shinhan Research \u2013 Innovate to sustain the growth - Inocycle Technology Group Tbk<\/title>\n<meta name=\"description\" content=\"Inocycle Technology Group Tbk PT Inocycle Technology Group Tbk \u201cINOV\u201d adalah perusahaan teknologi bersih Indonesia yang berfokus pada pengelolaan daur ulang PET (Recycle) dan limbah plastik lainnya.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/inocycle.com\/en\/shinhan-research-innovate-to-sustain-the-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shinhan Research \u2013 Innovate to sustain the growth - Inocycle Technology Group Tbk\" \/>\n<meta property=\"og:description\" content=\"Inocycle Technology Group Tbk PT Inocycle Technology Group Tbk \u201cINOV\u201d adalah perusahaan teknologi bersih Indonesia yang berfokus pada pengelolaan daur ulang PET (Recycle) dan limbah plastik lainnya.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/inocycle.com\/en\/shinhan-research-innovate-to-sustain-the-growth\/\" \/>\n<meta property=\"og:site_name\" content=\"Inocycle Technology Group Tbk\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/inocycle\/?_rdc=2&amp;amp%3bamp%3bamp%3bamp%3bamp%3bamp%3bamp%3bamp%3bamp%3b_rdr\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-15T05:34:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-20T04:03:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/inocycle.com\/wp-content\/uploads\/2021\/05\/shinhan-securitas-large.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"322\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"author inov\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"author inov\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/inocycle.com\/shinhan-research-innovate-to-sustain-the-growth\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/inocycle.com\/shinhan-research-innovate-to-sustain-the-growth\/\"},\"author\":{\"name\":\"author inov\",\"@id\":\"https:\/\/inocycle.com\/#\/schema\/person\/a71eff2c1545553bb6f6b800b79bc3e6\"},\"headline\":\"Shinhan Research \u2013 Innovate to sustain the growth\",\"datePublished\":\"2021-05-15T05:34:32+00:00\",\"dateModified\":\"2021-05-20T04:03:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/inocycle.com\/shinhan-research-innovate-to-sustain-the-growth\/\"},\"wordCount\":177,\"publisher\":{\"@id\":\"https:\/\/inocycle.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/inocycle.com\/shinhan-research-innovate-to-sustain-the-growth\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/inocycle.com\/wp-content\/uploads\/2021\/05\/shinhan-securitas-large.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/inocycle.com\/shinhan-research-innovate-to-sustain-the-growth\/\",\"url\":\"https:\/\/inocycle.com\/shinhan-research-innovate-to-sustain-the-growth\/\",\"name\":\"Shinhan Research \u2013 Innovate to sustain the growth - 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