Hanju Chemical & Holdings Changes Company Name to Hanchang Biotech

[Asia Economy Reporter Jang Hyowon] Hanju Chemical & Holdings held a shareholders' meeting on the 19th to revise the articles of incorporation for setting the company's management objectives and business strategies, change the company name, and appoint a new auditor.

At the shareholders' meeting, CEO Choi Seunghwan, who presided over the meeting, stated, "After acquiring the management rights of Cube & Company, we changed the company name to Hanju Chemical & Holdings. However, having recently completed an assessment of the company's financial risks, we now intend to incorporate it as an official affiliate of HanChang Co., Ltd., reflecting our commitment to responsible management as a major shareholder."

CEO Choi continued, "Meanwhile, the existing in vitro diagnostic bio-product affiliate, along with new bio-products using microorganisms, is expected to become the main revenue source in the future. Additionally, to embody the vision of pursuing IT technology-based businesses such as the metaverse and NFTs, we are promoting a company name change to HanChang Biotech. Although we posted modest results with sales of 5.2 billion KRW and an operating loss of 3.6 billion KRW until last year, we plan to achieve operating profit and grow sales by several tens of times next year through a complete transformation."

Meanwhile, HanChang Biotech (formerly Hanju Chemical & Holdings) announced the establishment of the PM Division and Online Commerce Division following the change in management rights, and through disclosures, it has already reported a total performance of 2.3 billion KRW in the PM Division over two occasions.

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