1. Hanwool’s H1 2025 Performance: What Happened?
Hanwool Materials Science recorded KRW 4.62 billion in revenue and KRW 12.15 billion in operating losses in H1 2025. Compared to the same period last year, sales decreased by 71.6%, and operating losses significantly increased. The decline in sales in the telecommunications segment and increased investment costs in new businesses were the primary factors.
2. Reasons for the Decline: Why These Results?
A combination of factors contributed to the poor performance, including sluggishness in the existing telecommunications business and increased expenses related to new business investments. In particular, the GFRP rebar business is struggling due to the downturn in the construction market, and the semiconductor materials business is still in its early stages, incurring investment costs.
3. Future Outlook and Investment Strategies: What Now?
Hanwool is pinning its hopes on the semiconductor materials business, but short-term financial burdens are unavoidable. Investors should exercise caution and closely monitor the progress of the semiconductor materials business and the recovery of existing businesses.
4. Action Plan for Investors
- Short-term Investors: Given the current poor performance and financial uncertainty, it is recommended to wait and see.
- Long-term Investors: It’s advisable to consider investing after confirming tangible results from the semiconductor materials business and the recovery of profitability in existing businesses.
Frequently Asked Questions
What are Hanwool Materials Science’s main businesses?
Their core businesses are related to telecommunications, including optical transport equipment, AI/IoT solutions, and 5G-PON. They are currently focusing on securing new growth engines by investing in the semiconductor materials business.
What is the investment size in the semiconductor materials business?
A total investment of KRW 50 billion has been made through the issuance of KRW 42 billion in convertible bonds and KRW 8 billion in facility investment.
What are the key points to consider when investing?
Investors should consider the financial burden and commercialization risks associated with new business investments, the poor performance of existing businesses, and changes in the macroeconomic environment.