322000 - HD Hyundai Energy Solutions Co., Ltd.

322000 Summary

Semiconductors

Stock Price & Overview

₩138,900 +9,400 (+7.26%) Close · Sep 4, 2026 KST

KOSPI | ₩KRW | Close: ₩138,900 ≈ US$99 · Market cap ₩1.6tn (≈ $1.1bn)

322000 Financial Statements

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Total Revenue	492.7	422.4	546.1	984.8	593.2	394.4	446.1	347.6	259.8
Cost of Revenue	386.4	375.0	482.9	799.5	517.3	341.5	381.0	304.0	262.0
Gross Profit	106.2	47.4	63.2	185.3	75.9	52.9	65.1	43.6	-2.2
Selling, General & Administrative	65.0	43.9	45.6	95.1	66.4	44.1	43.1	29.3	20.5
Operating Income	41.2	3.5	17.5	90.2	9.5	8.8	22.1	14.3	-22.8
Finance Income	12.8	14.5	12.0	19.5	9.3	12.3	5.0	2.2	2.6
Finance Costs	9.6	8.6	15.5	31.1	19.3	10.2	5.1	1.4	8.4
Pretax Income	43.9	-2.6	-3.4	74.9	-6.4	-11.9	16.3	14.0	-210.6
Income Tax Expense	2.2	-2.7	-0.6	14.3	0.3	-18.1	-7.3	-5.0	-5.9
Net Income	41.7	0.1	-2.9	60.6	-6.7	6.2	23.5	19.0	-204.7
Total Comprehensive Income	48.1	-1.9	-3.3	61.2	-6.2	10.9	23.3	18.7	-204.7

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Total Assets	530.4	453.8	502.1	652.8	605.6	458.2	481.2	276.4	255.4
Current Assets	386.1	318.2	361.1	490.2	445.3	311.6	358.7	177.4	170.6
Cash & Cash Equivalents	36.5	140.4	104.9	68.8	128.3	112.1	64.9	31.1	92.8
Inventories	95.4	83.4	168.2	273.2	186.2	110.0	121.7	51.5	25.0
Trade Receivables	130.7	77.4	84.5	140.4	117.5	78.9	116.8	92.9	52.3
Non-current Assets	144.4	135.6	140.9	162.6	160.3	146.6	122.4	99.0	84.9
Property, Plant & Equipment	97.9	87.5	94.8	119.4	114.2	99.6	95.0	84.6	78.5
Intangible Assets	9.8	9.5	10.2	8.1	7.9	7.2	6.6	4.6	1.9
Total Liabilities	112.6	84.1	130.5	271.3	285.2	129.5	163.3	38.8	36.0
Current Liabilities	95.5	70.0	105.3	237.4	255.8	108.3	157.5	34.6	31.7
Non-current Liabilities	17.1	14.1	25.2	33.8	29.5	21.2	5.8	4.2	4.3
Total Equity	417.8	369.7	371.6	381.5	320.3	328.7	317.9	237.6	219.4
Share Capital	56.0	56.0	56.0	56.0	56.0	56.0	56.0	40.0	40.0
Retained Earnings	247.1	205.2	205.0	215.0	153.9	162.4	156.0	132.7	-204.9

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Cash from Operating Activities	17.7	83.4	75.8	-34.6	36.5	-9.7	16.3	-40.5	73.1
Cash from Investing Activities	-124.0	-13.8	-9.6	-10.6	-33.7	13.3	-62.5	-21.2	-5.4
Purchase of Property, Plant & Equipment	12.3	11.7	8.4	13.3	27.5	24.8	20.1	10.8	4.7
Cash from Financing Activities	2.4	-34.4	-30.0	-14.3	13.3	43.5	80.3	—	—
Dividends Paid	0.0	0.0	6.7	—	2.2	—	—	—	—
Net Change in Cash	-103.9	35.5	36.2	-59.5	16.2	47.2	33.8	-61.7	67.2

Breakdown ₩ bn	2026 Q2	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1
Total Revenue	165.0	159.9	152.6	121.0	133.7	85.3	111.4	100.6	112.8	97.6
Cost of Revenue	114.9	112.1	117.5	88.3	105.0	75.6	94.7	86.2	93.8	100.3
Gross Profit	50.1	47.8	35.1	32.8	28.7	9.6	16.6	14.5	18.9	-2.7
Selling, General & Administrative	14.0	18.8	20.6	18.1	13.7	12.7	10.2	11.1	11.0	11.6
Operating Income	36.1	29.0	14.5	14.7	15.1	-3.0	6.4	3.4	7.9	-14.2
Finance Income	7.7	5.6	4.1	4.0	4.0	2.7	7.3	2.3	3.1	3.1
Finance Costs	4.8	5.3	3.8	2.8	3.5	1.4	1.1	3.5	2.3	2.9
Pretax Income	38.7	29.2	14.6	15.6	15.5	-1.8	12.7	2.1	8.6	-25.9
Income Tax Expense	8.0	6.9	-4.8	3.6	4.1	-0.7	4.2	1.4	-1.8	-6.5
Net Income	30.7	22.3	19.4	12.0	11.4	-1.1	8.4	0.7	10.3	-19.4
Total Comprehensive Income	31.1	22.9	19.6	12.0	17.6	-1.1	6.0	1.2	10.2	-19.3

Breakdown ₩ bn	2026 Q2	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1
Total Assets	643.5	579.2	530.4	499.8	485.6	452.2	453.8	450.8	473.0	447.9
Current Assets	511.7	441.1	386.1	359.4	339.8	309.5	318.2	312.7	331.5	308.1
Cash & Cash Equivalents	67.8	134.2	36.5	74.0	92.7	104.2	140.4	106.7	108.0	81.8
Inventories	181.2	114.9	95.4	95.3	92.1	89.7	83.4	110.5	129.2	134.2
Trade Receivables	136.7	126.1	130.7	97.6	100.5	75.7	77.4	73.5	87.3	88.7
Non-current Assets	131.8	138.2	144.4	140.4	145.8	142.7	135.6	138.1	141.5	139.8
Property, Plant & Equipment	93.6	95.8	97.9	100.5	102.9	94.4	87.5	86.2	87.7	87.9
Intangible Assets	9.9	10.0	9.8	10.0	9.7	9.4	9.5	9.9	9.9	9.4
Total Liabilities	171.7	138.6	112.6	101.6	99.4	83.7	84.1	87.1	110.5	95.7
Current Liabilities	154.0	120.8	95.5	83.5	80.7	70.4	70.0	69.2	90.9	81.0
Non-current Liabilities	17.7	17.8	17.1	18.0	18.7	13.3	14.1	18.0	19.6	14.7
Total Equity	471.8	440.7	417.8	398.2	386.2	368.6	369.7	363.7	362.5	352.3
Share Capital	56.0	56.0	56.0	56.0	56.0	56.0	56.0	56.0	56.0	56.0
Retained Earnings	300.1	269.3	247.1	227.5	215.5	204.1	205.2	196.7	195.9	185.6

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	0.7	39.2	-6.2	28.9	-2.5	-2.5	34.7	12.2	34.6	2.0
Cash from Investing Activities	-66.3	59.1	-30.4	-46.7	-14.2	-32.7	6.2	-11.5	-3.2	-5.3
Purchase of Property, Plant & Equipment	1.0	0.2	0.3	1.0	3.4	7.6	3.6	1.0	2.8	4.2
Cash from Financing Activities	-1.0	-1.0	-1.0	-1.0	5.4	-1.0	-7.4	-2.0	-5.2	-19.8
Dividends Paid	—	—	—	—	—	—	0.0	0.0	—	—
Net Change in Cash	-66.3	97.7	-37.5	-18.7	-11.5	-36.2	33.7	-1.3	26.2	-23.2

Consolidated (CFS), from DART. 9 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.

322000 Growth

FY2025 ₩bn	Latest	1-yr	3-yr CAGR	5-yr CAGR	10-yr CAGR
Revenue	492.7	+16.6%	-20.6%	+4.5%	—
Operating income	41.2	+1,076.9%	-23.0%	+36.2%	—
Net income	41.7	+36,385.4%	-11.7%	+46.3%	—
EPS	₩3,721	+36,385.4%	-11.7%	+46.3%	—
Operating cash flow	17.7	-78.8%	—	—	—
Shareholders' equity	417.8	+13.0%	+3.1%	+4.9%	—

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.

322000 Profitability

Ratio	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Gross margin	21.6%	11.2%	11.6%	18.8%	12.8%	13.4%
Operating margin	8.4%	0.8%	3.2%	9.2%	1.6%	2.2%
Net margin	8.5%	0.0%	-0.5%	6.2%	-1.1%	1.6%
Return on equity	10.6%	0.0%	-0.8%	17.3%	-2.1%	1.9%
Return on assets	8.5%	0.0%	-0.5%	9.6%	-1.3%	1.3%
Operating cash flow / revenue	3.6%	19.8%	13.9%	-3.5%	6.2%	-2.5%
Capex / revenue	2.5%	2.8%	1.5%	1.4%	4.6%	6.3%

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.