Hanwha Solutions Swings to Operating Profit of KRW 92.6B in Q1 2026, Decides KRW 1.8T Rights Offering
- Consolidated revenue for Q1 2026: KRW 3.882 trillion (up 25.4% YoY), operating profit of KRW 92.6 billion (swing from loss of KRW 30.3 billion in Q1 2025), net loss of KRW 38.2 billion (improvement from full-year 2025 net loss of KRW 615.3 billion).
- Segment operating profit (Q1 2026 vs Q1 2025): Basic materials KRW 44.3B (vs -73.7B), Processed materials KRW 17.1B (vs -1.1B), Renewable energy KRW 30.8B (vs 161.1B, down 80.9%), Others -15.9B (continued loss).
- On March 26, 2026, the board resolved a rights offering of 56 million common shares (approx. KRW 1.8 trillion) via a rights issue and subsequent public offering. Largest shareholder Hanwha Corp. plans to participate at 120% of its entitlement.
- A business restructuring plan for the Yeosu petrochemical complex was submitted to the government in December 2025; a revised plan was submitted in March 2026. The impact on financial statements as of period-end is not reflected.
- Ongoing patent lawsuits in the U.S. ITC (First Solar investigation) and Germany (Jinko, REC, LONGi, Astronergy, Maxeon) related to solar technology.
- A serious accident at the Ulsan plant in February 2026 resulted in one fatality; investigation by the Ministry of Employment and Labor underway.
- No dividend for FY2025 due to accumulated losses. Mid-to-long-term shareholder return policy (FY26-FY30): target of higher of 10% of consolidated net income or KRW 300 per common share.
- Consolidated assets: KRW 34.9 trillion, liabilities: KRW 22.9 trillion, equity: KRW 12.0 trillion. Debt-to-equity ratio: 191%.
- Consolidated inventories: KRW 6.0 trillion; allowance for doubtful accounts: KRW 489 billion (ratio 9.7%).
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KOSPI Filing Information
- Filing: Quarterly Report (2026.03)
- Company: HANWHA SOLUTIONS (009830)
- Submission: HANWHA SOLUTIONS CORPORATION
- Receipt: 05-12-2026