1. What Happened? HHI Mipo’s Q2 Earnings Analysis

HHI Mipo reported sales of KRW 1.2114 trillion (-4% YoY), operating profit of KRW 77.9 billion (-1% YoY), and net profit of KRW 16.1 billion (-77% YoY) for Q2 2025. The sharp decline in net profit, in particular, shocked the market.

2. Why Did This Happen? Analysis of the Earnings Decline

Several factors are attributed to this disappointing performance:

  • Rising Raw Material Prices: Increased international crude oil and gold prices led to higher shipbuilding costs.
  • Exchange Rate Fluctuations: Changes in the KRW/USD and KRW/EUR exchange rates negatively impacted profitability.
  • Intensified Competition: Increased competition in the shipping market may have led to more low-margin contracts.
  • Unexpected Expenses: The possibility of unforeseen expenses not yet disclosed cannot be ruled out.

While the revised disclosure of the 2024 business report is positive for investor confidence, it is unlikely to offset the negative impact of the poor Q2 results.

3. What’s Next? Stock Price Outlook and Investment Strategy

HHI Mipo’s stock price is expected to face downward pressure following the Q2 earnings announcement. The sharp decline in net profit is likely to trigger a negative market reaction. Investors should carefully review further information and analysis of the causes when they are released. It is crucial to pay attention to changes in external factors such as raw material prices, exchange rate fluctuations, and the shipping market outlook.

4. What Should Investors Do? Action Plan

Investors should avoid being swayed by short-term stock price fluctuations and calmly analyze the company’s fundamentals and future prospects. Waiting for further information disclosure and making prudent decisions from a long-term investment perspective is crucial.