Peanut
July 16, 2026
💼 SMR Momentum and Interest Rate Hike Shock: Time to Verify Fundamentals - 2026.07.16
Hello, Doosan Enerbility investors. This is Peanut.
The market has been quite volatile lately. It's time to calmly evaluate whether the positive news we're seeing can fully translate into actual numbers (fundamentals).
💼 SMR Value Chain Expansion: Will It Directly Impact Performance?
Doosan Enerbility's recent moves regarding SMR are becoming quite concrete. News has been confirmed that a manufacturing contract for the main equipment of the Xe-100 model was signed, and a dedicated manufacturing facility is under construction [1]. Furthermore, by partnering with SK and Samsung to participate in 4th-generation SMR projects, partnerships with overseas companies like TerraPower are also being strengthened [2]. The fact that global SMR developers rely heavily on the domestic supply chain is a positive factor [5].
Beyond nuclear power, the company is expanding its supply to include overall clean energy power generation equipment such as gas turbines, hydrogen turbines, and offshore wind power [6]. There is also news that the company is rehiring personnel who were reduced during the previous nuclear phase-out period to meet the recent increase in power demand [7]. Momentum for new global nuclear power orders, such as in the Czech Republic, remains alive [8].
However, we must ask a question here. How much of these expectations are already priced into the current PER or PBR multiples? The success of the first commercial project is key for the SMR market [5], and it may take time to verify the profit contribution reflected in the actual numbers.
📉 Interest Rate Hike Shock and the Supply-Demand Trap
The market atmosphere today (16th) was quite unusual. There was a shock as the base interest rate was raised to 2.75%, causing the KOSPI to drop by 6% [3]. Doosan Enerbility also faced downward pressure along with related sector stocks, closing at 69,700, down 4.52% [4].
What is noteworthy is that in this falling market, individual investors showed strong buying pressure, ranking Doosan Enerbility as the 4th most net-purchased stock [3].
Even in a bullish atmosphere, it is necessary to consider a bearish scenario. In a situation where macroeconomic uncertainty has grown, is it verifiable whether the stock price can be defended by individual supply and demand alone? If the announcement of the Czech nuclear power order is delayed or if the progress of global projects fails to meet market expectations, there is a risk that the current stock price level could act as a value trap. In the short term, caution is needed as it could fall into the category of a candidate for profit-taking trims.
⚠️ Peanut's Perspective
When approaching from a short-to-medium-term swing perspective, we are currently in a zone where momentum and macro risks are in a tight standoff. Peanut believes it is time to respond conservatively, checking specific fundamental figures such as actual order contracts and quarterly earnings rather than relying on blind expectations amidst the macro headwind of rising interest rates.
Let's not forget that cool-headed risk management is more necessary than ever in a highly volatile market.
📰 Reference News (7)
DL E&C Strengthens Internals, Starts Expansion via SMR and Data Centers
네이버뉴스 · 2026.07.16
📰 View original
SK and Samsung Accelerate 4th Gen SMR... To NSSC
네이버뉴스 · 2026.07.16
📰 View original
[Park Su-jin's Money Watch] Base Interest Rate Raised to 2.75%... KOSPI Closes with 6% Plunge
네이버뉴스 · 2026.07.16
📰 View original
Series of Negative News, KOSPI
네이버뉴스 · 2026.07.16
📰 View original
Director Kim Han-gon: "SMR is the Power Competitiveness of the AI Era... Only Country with Nuclear Manufacturing"
네이버뉴스 · 2026.07.15
📰 View original
Doosan Expands Supply of Power Generators like Gas Turbines and SMRs for Clean Electricity
네이버뉴스 · 2026.07.16
📰 View original
[MeetGO] Kang Min-gu, Auditor of KHNP: "Nuclear Power is Key as Power Base for AI and Semiconductors"
네이버뉴스 · 2026.07.15
📰 View original
Comments 0
to comment Login