[Special Stock] Hanmi Semiconductor Hits New Low Amid 'Competitor Emergence'

As of exactly 10 a.m. on the 31st, Hanmi Semiconductor's stock price on the Korea Exchange is trading at 69,900 KRW, down 8.63% from the previous day's closing price. During the session, it fell to 68,000 KRW, marking a 52-week low. This decline appears to be due to concerns that Hanmi Semiconductor's monopolistic position in the TC bonder equipment sector, which bonds semiconductor chips and substrates, will weaken with the emergence of competitor Hanwha Semitech.

Since last year, there has been analysis that SK Hynix has been diversifying its TC bonder equipment for high bandwidth memory (HBM). The rumors materialized as Hanwha Semitech announced a supply contract worth 21 billion KRW with SK Hynix on the 14th of this month, followed by another contract of the same scale on the 27th.

Hanmi Semiconductor's announcement of its preliminary first-quarter earnings also seems to have influenced the stock price decline. Hanmi Semiconductor disclosed that on a consolidated financial statement basis, first-quarter sales are expected to be 140 billion KRW, with an operating profit of 68.6 billion KRW. This represents an 81% increase in sales and a 139% increase in operating profit compared to the same period last year. However, according to FnGuide, the securities market had expected sales of 169.6 billion KRW and operating profit of 82.4 billion KRW.

Hanmi Semiconductor also stated that it plans to continue its lawsuit against Hanwha Semitech for technology leakage and patent infringement. In December last year, Hanmi Semiconductor appointed Sejong Law Firm as its legal representative and is currently engaged in a patent infringement lawsuit with Hanwha Semitech. Hanmi Semiconductor has filed over 120 patents related to HBM equipment.