[Featured Stock] Hanwha Aerospace Soars on Record High Performance Last Year... Hits New High

Hanwha Aerospace is soaring on the back of last year's record performance. It hit a 52-week high during trading.

As of 9:08 a.m. on the 11th, the stock is trading at 485,500 KRW, up 72,500 KRW (17.55%) from the previous day. During the session, it rose to 487,500 KRW, setting a new 52-week high again.

Last year's historic earnings and the news of acquiring shares in Hanwha Ocean are believed to have driven the stock price up.

On the previous day, Hanwha Aerospace disclosed that it recorded sales of 11.2462 trillion KRW and an operating profit of 1.7247 trillion KRW last year. These figures represent increases of 43% and 190%, respectively, compared to the previous year. It marked the second consecutive year of record-breaking performance.

Additionally, Hanwha Aerospace announced that it will purchase 22,375,216 shares of Hanwha Ocean held by Hanwha Impact Partners, Hanwha Energy, and Hanwha Energy Singapore. The acquisition amount is approximately 1.3 trillion KRW. Hanwha Aerospace plans to complete the share acquisition by the 13th of next month. After the acquisition, Hanwha Aerospace's stake in Hanwha Ocean will increase from 23.14% to 30.4%.