The expansion has just begun KLIN expanded its business by opening a new factory in 2022, covering an area of 4,000m2. The factory was relocated from Sidoarjo to Gresik, resulting in an increased production capacity of up to 125,000 units per month. Furthermore, after being listed on the IDX, KLIN allocated its IPO funds as follows: IDR 7.69 billion for office and factory construction, IDR 7.59 billion for capital expenditure, and IDR 4.52 billion for working capital. This allocation means that KLIN has fully utilized the entire net IPO fund of IDR19.8 billion. We see the expansion reflected in the company’s sales volume, which grew by +51% YoY in 2022, signaling the company’s path towards unleashing growth.
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