028300 - HLB Co., Ltd.

028300 Summary

Biopharma

Stock Price & Overview

₩33,750 +950 (+2.90%) Close · Sep 4, 2026 KST

KOSDAQ | ₩KRW | Close: ₩33,750 ≈ US$24 · Market cap ₩4.5tn (≈ $3.2bn)

028300 Financial Statements

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
Total Revenue	84.2	68.1	42.9	179.7	69.8	56.2	38.4	36.2	23.0	30.1	38.5
Cost of Revenue	56.5	56.1	43.8	113.5	48.8	45.9	34.5	29.7	20.8	25.9	32.4
Gross Profit	27.7	12.1	-0.9	66.2	21.1	10.3	3.9	6.5	2.2	4.3	6.0
Selling, General & Administrative	131.9	130.6	124.1	140.9	122.1	71.6	52.7	35.8	28.3	25.3	12.0
Operating Income	-104.2	-118.5	-125.0	-74.7	-101.0	-61.3	-48.7	-29.3	-26.1	-21.0	-6.0
Finance Income	9.3	33.5	21.0	20.5	7.8	20.6	19.0	31.8	1.4	3.1	0.9
Finance Costs	49.5	14.0	20.0	21.5	11.3	12.6	24.9	13.7	9.0	1.5	3.7
Pretax Income	-240.5	-109.2	-212.8	-88.4	-110.4	-93.2	-59.8	13.5	-33.4	-23.3	10.6
Income Tax Expense	-5.1	-1.2	-10.5	10.2	1.2	-4.5	-0.1	-0.0	-12.0	0.0	0.0
Net Income	-235.4	-108.0	-202.3	-98.6	-111.6	-88.7	-59.7	13.5	-21.3	-23.3	10.4
Total Comprehensive Income	-244.0	-65.2	-196.2	-77.2	-86.3	-103.9	-51.8	18.7	-23.9	-22.9	10.9

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
Total Assets	930.2	887.4	747.0	967.3	743.7	706.5	362.6	304.0	188.2	186.7	185.2
Current Assets	124.3	172.3	144.4	343.6	188.1	251.6	69.7	117.1	35.3	27.1	29.9
Cash & Cash Equivalents	41.0	93.0	108.9	195.7	99.8	220.7	40.9	30.2	7.3	9.4	4.4
Inventories	9.5	9.7	11.4	12.3	13.8	4.9	4.9	3.9	4.1	3.9	5.3
Trade Receivables	9.5	8.9	7.2	15.1	34.0	11.7	6.6	6.5	3.2	2.9	4.8
Non-current Assets	805.9	715.1	602.6	623.7	555.6	454.9	292.9	186.9	152.9	159.6	155.3
Property, Plant & Equipment	68.7	72.6	48.8	51.6	41.5	19.9	12.5	12.8	10.3	10.8	11.1
Intangible Assets	333.6	312.4	264.3	344.8	339.5	263.8	133.6	133.6	126.6	131.0	130.7
Total Liabilities	435.8	235.3	131.7	268.3	231.5	149.0	173.4	94.5	74.5	62.6	70.8
Current Liabilities	347.7	160.7	86.3	200.4	121.8	98.0	67.7	20.9	42.3	15.4	24.4
Non-current Liabilities	88.1	74.6	45.4	67.9	109.7	51.0	105.7	73.6	32.2	47.2	46.3
Total Equity	494.4	652.1	615.3	699.0	512.2	557.4	189.2	209.5	113.7	124.1	114.4
Share Capital	66.4	65.7	65.1	58.2	53.3	26.5	21.4	19.6	18.2	17.9	17.2
Retained Earnings	2.9	211.9	-2.6	-132.6	-183.0	-85.4	-5.2	39.6	-19.8	-3.3	9.9

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
Cash from Operating Activities	-92.6	-114.3	-111.6	-61.8	-54.8	-56.5	-48.7	-29.2	-19.1	-10.2	0.5
Cash from Investing Activities	-5.9	-74.8	25.5	-112.3	-68.5	-98.0	-26.8	-28.2	-13.0	-2.9	-55.2
Purchase of Property, Plant & Equipment	16.9	20.0	5.9	11.7	2.2	1.0	1.7	0.6	1.7	1.6	2.5
Cash from Financing Activities	46.7	170.3	-3.0	267.6	1.3	341.0	86.7	80.0	30.1	18.0	48.0
Dividends Paid	—	—	—	0.0	0.0	0.1	—	—	—	—	—
Net Change in Cash	-51.8	-18.8	-89.1	93.5	-121.9	186.5	11.2	22.6	-2.0	5.0	-6.6

Breakdown ₩ bn	2026 Q2	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1
Total Revenue	28.0	18.7	28.7	22.1	15.7	17.7	25.2	17.0	14.8	11.2
Cost of Revenue	13.7	11.6	18.0	13.6	11.9	13.0	22.0	13.2	11.7	9.2
Gross Profit	14.3	7.1	10.7	8.5	3.8	4.7	3.3	3.7	3.1	2.0
Selling, General & Administrative	36.8	30.3	40.0	31.5	26.9	33.5	29.0	23.3	40.5	37.8
Operating Income	-22.5	-23.2	-29.4	-23.0	-23.1	-28.8	-25.7	-19.6	-37.5	-35.8
Finance Income	7.8	12.6	4.5	-1.5	4.1	2.2	13.6	9.3	-22.8	33.5
Finance Costs	40.5	21.1	14.8	5.7	9.1	19.9	3.8	4.0	5.0	1.2
Pretax Income	-80.1	-40.9	-28.4	-82.5	-60.7	-68.9	-30.9	0.6	-107.2	28.3
Income Tax Expense	0.3	0.0	0.9	-6.1	0.0	0.0	-1.2	0.0	-0.0	-0.0
Net Income	-80.4	-40.9	-29.3	-76.4	-60.8	-68.9	-29.7	0.6	-107.2	28.3
Total Comprehensive Income	-78.3	-26.5	-22.5	-68.8	-80.3	-72.3	-1.1	3.0	-104.3	37.2

Breakdown ₩ bn	2026 Q2	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1
Total Assets	908.0	925.4	930.2	703.5	745.3	834.3	887.4	851.3	778.9	861.6
Current Assets	101.6	95.9	124.3	120.7	123.6	132.0	172.3	180.6	142.0	159.0
Cash & Cash Equivalents	26.4	26.2	41.0	42.9	53.0	60.6	93.0	89.7	69.5	114.7
Inventories	16.0	11.0	9.5	14.9	12.4	11.1	9.7	17.0	14.1	12.3
Trade Receivables	12.3	10.0	9.5	9.4	9.7	12.4	8.9	8.2	8.4	8.6
Non-current Assets	806.4	829.5	805.9	582.8	621.7	702.3	715.1	670.7	636.9	702.6
Property, Plant & Equipment	68.1	68.4	68.7	86.0	78.1	77.1	72.6	70.8	56.1	55.2
Intangible Assets	353.1	348.2	333.6	286.1	277.6	311.9	312.4	280.9	284.3	279.3
Total Liabilities	485.5	431.6	435.8	250.6	231.5	241.0	235.3	263.1	221.7	210.7
Current Liabilities	397.6	348.6	347.7	184.3	191.6	197.8	160.7	153.7	96.2	66.3
Non-current Liabilities	87.9	82.9	88.1	66.3	39.9	43.1	74.6	109.4	125.5	144.4
Total Equity	422.4	493.9	494.4	452.9	513.8	593.4	652.1	588.2	557.2	650.9
Share Capital	66.6	66.6	66.4	65.7	65.7	65.7	65.7	65.6	65.4	65.4
Retained Earnings	-112.0	-35.1	2.9	16.9	90.0	147.7	211.9	209.0	204.9	308.1

Breakdown ₩ bn	2026 Q2	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1
Cash from Operating Activities	-27.3	-17.7	-34.4	-11.1	-22.6	-24.5	-23.1	-22.4	-35.3	-33.5
Cash from Investing Activities	1.9	8.2	2.1	-11.3	16.2	-12.9	-0.5	-31.6	-20.2	-22.5
Purchase of Property, Plant & Equipment	0.6	0.4	1.1	8.3	2.3	5.2	2.6	15.2	1.4	0.8
Cash from Financing Activities	25.2	-5.6	30.1	11.8	-0.1	5.0	24.5	73.4	12.0	60.4
Net Change in Cash	-0.1	-15.1	-2.2	-10.6	-6.5	-32.4	0.9	19.4	-43.5	4.5

Consolidated (CFS), from DART. 11 fiscal years and 10 quarters. Accounts matched on IFRS account_id, not Korean labels, so the same line holds across years where the Korean wording changed. Quarterly figures are three-month values: income quarters from DART's three-month column, cash-flow quarters differenced from DART's cumulative figures, and Q4 as annual minus nine-month cumulative.

028300 Growth

FY2025 ₩bn	Latest	1-yr	3-yr CAGR	5-yr CAGR	10-yr CAGR
Revenue	84.2	+23.6%	-22.3%	+8.4%	+8.1%
Operating income	-104.2	—	—	—	—
Net income	-235.4	—	—	—	—
EPS	₩-1,767	—	—	—	—
Operating cash flow	-92.6	—	—	—	—
Shareholders' equity	494.4	-24.2%	-10.9%	-2.4%	+15.8%

Compound annual growth from the DART annual statements on this page. n/m where either end of the period is a loss or missing. EPS uses today's share count for every year.

028300 Profitability

Ratio	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Gross margin	32.9%	17.7%	-2.1%	36.9%	30.2%	18.3%
Operating margin	-123.8%	-174.0%	-291.4%	-41.5%	-144.7%	-109.1%
Net margin	-279.7%	-158.6%	-471.6%	-54.9%	-159.8%	-157.9%
Return on equity	-41.1%	-17.0%	-30.8%	-16.3%	-20.9%	-23.8%
Return on assets	-25.9%	-13.2%	-23.6%	-11.5%	-15.4%	-16.6%
Operating cash flow / revenue	-110.0%	-167.8%	-260.2%	-34.4%	-78.4%	-100.6%
Capex / revenue	20.1%	29.3%	13.7%	6.5%	3.1%	1.7%

Margins divide by revenue for the same year. Return on equity and assets divide net income by the average of that year's and the prior year's balance, as DART reports them (consolidated, including minority interests).

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What a US investor should know

Trading hours09:00–15:30 KST — 20:00–02:30 US Eastern the night before.
Daily limitKorean stocks can move at most ±30% in a session before trading halts.
Getting exposureKRX shares are not directly tradable in most US brokerage accounts. The usual routes are Korea ETFs or an international account.
ReportingKorean issuers file to DART, not the SEC. Half-year and quarterly reports land about 45 days after period end.