Hanseon Engineering, Essential Fluid Engineering Company for Hydrogen, Secondary Batteries, and Aerospace

HanSun Engineering, a manufacturer of high-performance fittings, valves, and modules that has secured a leading position in the rapidly growing hydrogen fuel cell and secondary battery ESS sectors amid the paradigm shift in the energy industry, completed its KOSDAQ listing procedures and was listed on the KOSDAQ market on the 24th.

Founded in 2012, HanSun Engineering specializes in fittings, valves, and modular systems for instrumentation equipment that control the flow and velocity of fluids and gases. Over the past 12 years since its establishment, the company has shown steady growth without any decline. Leveraging the strengths of CEO Lee Jae-hoon, a Silicon Valley veteran, the company has developed its own computerized system to efficiently manage over 40,000 types of fittings and valve products, maximizing work productivity and profitability, thereby establishing itself as a manufacturing company akin to an IT firm.

HanSun Engineering’s main front-end industries include core business sectors with large markets such as petrochemicals, energy, shipbuilding, and offshore, as well as new growth sectors like hydrogen fuel cells and secondary battery ESS. The company is also expanding its market to semiconductor, aerospace, and bio industries, actively building a diverse portfolio and securing new growth engines.

Having secured core proprietary technology in the hydrogen fuel cell sector, HanSun Engineering was recognized globally for its technological capabilities by being selected as a primary vendor for BloomSK Fuel Cell, a joint venture between global hydrogen fuel cell leader Bloom Energy and SK Eco Plant, in 2021. In the secondary battery ESS sector, the company has uniquely collaborated with Samsung SDI and LG Energy Solution in Korea to obtain UL certification for the direct injection fire suppression system standard, supplying exclusively and completing preparations for entry into the North American market. Alongside steady growth in its core business, the company recorded sales of 41 billion KRW and operating profit of 7.2 billion KRW last year, driven by its leading position in new growth sectors and securing an outstanding reference portfolio.

In the institutional demand forecast conducted earlier, HanSun Engineering recorded a competition rate of 709.54 to 1, setting the public offering price at 7,000 KRW, exceeding the expected price band of 5,200 to 6,000 KRW. The subscription rate for general investors reached a final competition rate of 1,141.25 to 1, with subscription deposits totaling approximately 4.244 trillion KRW.

CEO Lee Jae-hoon of HanSun Engineering stated, "Even after listing, HanSun Engineering will continue to strive to enhance customer-centric services and product reliability," and expressed his ambition, saying, "We will work diligently to become a company that customers return to, expanding our customers and markets not only domestically but also globally."

The funds raised through the listing will be used to repay the purchase cost of the existing factory site, expand production facilities (CAPA) in new business areas, and secure research personnel.