Hantec Receives KOSDAQ Listing Preliminary Review Approval... "Expecting Growth in the Green Energy Era"

Hantec announced on the 20th that it has received preliminary review approval from the Korea Exchange for listing on the KOSDAQ market and will officially begin the listing process.

Hantec started in 1973 as the machinery division of Korea Fertilizer, changed its name to Samsung Fine Chemicals in 1994, and was spun off and established as an independent company in 1998. The company operates through two divisions: the ‘Chemical Equipment Division,’ which manufactures and supplies essential chemical engineering equipment for plant construction in sectors such as refining, petrochemicals, LNG, and fertilizers, and the ‘Tank Division,’ which designs, manufactures, and installs industrial cryogenic gas storage tanks for nitrogen, oxygen, hydrogen, ammonia, carbon dioxide, and more. Each division secures market competitiveness based on differentiated core technologies, generating stable sales.

With over 50 years of experience, the Chemical Equipment Division has delivered products to most countries worldwide and is especially recognized for its outstanding technology in special materials, including non-ferrous products, securing its position as a supplier of special equipment to global energy companies. In response to the anticipated expansion of natural liquefied gas (LNG) plant investments following the recent change in the U.S. administration, the Chemical Equipment Division plans to actively leverage this as a growth driver. Key products of the division include heat exchangers, reactors, towers, and pressure vessels.

The Tank Division is expected to continuously benefit and grow due to the global expansion of eco-friendly policies. The company possesses design and manufacturing technologies for various carbon-neutral liquefied storage tanks, including ammonia, hydrogen, and carbon dioxide. The Tank Division is already participating in large-scale projects, such as manufacturing ammonia tanks for the Samcheok hydrogen compound co-firing power plant infrastructure, and is expected to receive new orders following policies replacing coal-fired power plants with co-firing power generation. Additionally, the production of spent nuclear fuel storage casks (CASK) and the promotion of nuclear power plant decommissioning projects are also anticipated to drive future growth.

Hantec’s sales revenue for 2023 was KRW 178.6 billion, with operating profit and net profit of KRW 15.1 billion and KRW 14.8 billion, respectively. Sales increased by 30.9% compared to the same period last year. Operating profit and net profit rose significantly by 80.4% and 82.6%, respectively, during the same period. The half-year results for this year recorded cumulative sales of KRW 79.5 billion, operating profit of KRW 6.5 billion, and net profit of KRW 13.6 billion, maintaining solid profitability.

Park Geon-jong, CEO of Hantec, stated, “Since its founding, Hantec has produced the highest quality chemical equipment and storage tanks, and through continuous development and innovation, it has maintained an excellent reputation among global major energy clients.” He added, “In the era of eco-friendliness, our goal is to secure resources through the KOSDAQ listing and further strengthen new business capabilities for long-term growth.”

Hantec plans to prepare all necessary documents for the securities registration statement and will begin the full-scale public offering process next year. The lead underwriter for the listing is Daishin Securities.