[Featured Stock] Hanwha Solutions Rises 6% on Earnings Surprise Outlook
[Asia Economy Reporter Lee Seon-ae] Hanwha Solutions is showing an upward trend of around 6%.
As of 10:02 AM on the 25th, Hanwha Solutions is trading at 47,700 KRW, up 6% from the previous day. This is interpreted as expectations due to improved earnings.
On the same day, Kiwoom Securities announced that it maintains a 'Buy' rating and a target price of 68,000 KRW for Hanwha Solutions.
Researcher Dongwook Lee of Kiwoom Securities analyzed, "Hanwha Solutions' operating profit for the first quarter of this year is expected to be 250 billion KRW, a 282.2% increase compared to the previous quarter, significantly exceeding market expectations (189.2 billion KRW). Although cost increases are expected in the solar power division, the spreads of key petrochemical products are anticipated to improve sharply."
The chemical division's operating profit is expected to be 229.6 billion KRW, a 247.9% increase from the previous quarter. The surge in transportation costs is affecting strong product prices, and the spread has sharply increased due to high regional demand causing offshore supply disruptions of major products such as LDPE/PVC/EVA. Prices of TDI and caustic soda have also improved compared to the previous quarter. The Q CELLS division is expected to record an operating profit of 1 billion KRW, turning to black compared to the previous quarter, as polysilicon prices surge and the company’s solar raw and subsidiary material prices continue to rise.
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The advanced materials division is expected to post an operating profit of 4.1 billion KRW, turning to black compared to the previous quarter. This is due to the base effect of one-time costs incurred in the previous quarter and a turnaround in the automotive industry in the front end. The Galleria division's operating profit is expected to be 7.4 billion KRW, a 29.0% decrease from the previous quarter, but performance is expected to improve significantly compared to the same period last year due to the easing of social distancing measures.
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