
AI-generated summary
Last month, Hanwha re-listed after its spin-off as Hanwha Machinery & Service Holdings, a new corporation that separated the existing corporations, including the defense, shipbuilding, marine, energy, and finance divisions, from the tech and life divisions.
On the 16th, SK Securities raised its target stock price for Hanwha [000880] from 156,062 won to 170,000 won, saying that expectations for business portfolio optimization after spin-off and relisting appear to be reflected in the stock price.
Researcher Choi Gwan-soon evaluated this in the report, saying that the combined market capitalization of Hanwha's surviving corporations and new corporations, which were re-listed on the 25th of last month after the spin-off, was KRW 7.9 trillion, a 33.9% increase from before the spin-off trading was suspended.
Previously, Hanwha was re-listed last month after being split into a surviving corporation containing the defense, shipbuilding, marine, energy, and finance divisions and a new corporation, Hanwha Machinery & Service Holdings, which separated out the tech and life divisions.
Researcher Choi also predicted that Hanwha's annual consolidated sales and operating profit this year will be KRW 9.4 trillion and KRW 6.7 trillion, up 25.2% and 62.0%, respectively, from last year.
In addition, if additional shareholder returns become visible through the spin-off, it is time to expect the stock discount rate compared to net asset value to normalize, which is significantly higher than that of competitors, and the investment strategy for Hanwha was presented as 'buy' as before.
AI outlook — possibilities, not facts
Hanwha's consolidated sales this year are expected to reach KRW 9.4 trillion, a 25.2% increase from last year.
Likely · Within months
Hanwha's consolidated operating profit this year is expected to reach KRW 6.7 trillion, a 62.0% increase from last year.
Likely · Within months

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