On the 22nd at 9:30 AM, Hwaseong Industrial Co., Ltd. held its regular shareholders' meeting in the conference room on the 7th floor of its headquarters in Hwanggeum-dong, Suseong-gu, Daegu, and decided on a cash dividend of 500 KRW per share.
At the shareholders' meeting, Hwaseong Industrial announced that its sales revenue for 2023 reached 908 billion KRW, a 40.6% increase compared to 645.7 billion KRW in 2022, with operating profit and net profit amounting to 25.2 billion KRW and 19.2 billion KRW, respectively.
Accordingly, Hwaseong Industrial decided on a cash dividend of 500 KRW per common share. This represents a 4.5% dividend yield based on the market price, with a total dividend amount of 4.574 billion KRW.
Chairman Lee Jong-won of Hwaseong Industrial stated, “Last year, high inflation and high interest rates persisted, leading to the onset of low growth and deterioration in many macroeconomic indicators. However, Hwaseong Industrial recorded its highest-ever construction performance, laid the foundation for stable order intake, and made strides toward entering overseas markets. This year, we will accelerate changes and innovations, newly enter new construction value chain business areas such as resource circulation and overseas construction businesses, and gradually increase the proportion of profit-oriented development projects to secure sustainable growth potential and enhance the company's intrinsic value.”
At the shareholders' meeting, Hwaseong Industrial also announced a name change to ‘HS Hwaseong.’ This reflects the continuation of the company's 66-year legacy of values, philosophy, and customer trust, while embracing new future values and vision as a choice for global expansion. Starting in the second half of the year, the company will embark on a new journey for the next 100 years under the new name ‘HS Hwaseong.’
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