[Featured Stock] Hanwha, Expectations for Strengthened Affiliate Control and Improved Construction Orders

Hanwha is showing strong performance in the early trading session.

As of 10:15 AM on the 10th, Hanwha's stock price is trading at 52,500 KRW, up 10.18% (4,850 KRW) compared to the previous close. During the session, it surged to 54,100 KRW, setting a new 52-week high.

Jangwon Kim, a researcher at BNK Investment & Securities, explained, "Even though Hanwha Aerospace's stock price rose fourfold and Hanwha Energy conducted a tender offer, the stock price remained unchanged until the day Hanwha Aerospace announced the additional acquisition of Hanwha Ocean shares, after which it moved significantly." He added, "Consolidating the dispersed shares of Hanwha Ocean under Hanwha Aerospace focuses the value of Hanwha Ocean on Hanwha Aerospace, and the affiliates selling their shares can explore cash utilization plans, making it a win-win situation at the group level."

Hanwha is also resuming the Iraq BNCP (Bismayah New City Project) business, which had faced difficulties due to project delays and contract cancellations. Researcher Kim stated, "The project will proceed as soon as approval is obtained from the Iraqi government, and construction revenue is expected to be reflected from the second half of the year. Although construction performance is expected to be challenging due to sluggishness in some domestic sites, order performance is improving compared to last year, and there is growing optimism for the newly initiated projects."