[Click eStock] Hanwha Solutions, Both Renewable Energy and Chemicals Show 'Warm' Performance

[Asia Economy Reporter Junho Hwang] Kiwoom Securities on the 15th raised the target price of Hanwha Solutions to 54,800 KRW per share, anticipating benefits in the chemical and solar power sectors.

Researcher Dongwook Lee of Kiwoom Securities stated, "Hanwha Solutions' renewable energy division is showing improved performance despite the steady trend in polysilicon prices," adding, "This is due to price increases driven by improved profitability of downstream companies caused by the sharp rise in international oil and gas prices, and the increase in exports to the U.S., which commands a high price premium."

He continued, "The U.S. market reflects a tight supply-demand situation, with some recent module prices exceeding 50 cents per watt," and added, "Hanwha Solutions, which holds the largest solar module production capacity in the U.S., is expected to benefit."

The chemical division's performance is also expected to record higher profitability compared to competitors. The supply and demand for major polymer products such as LDPE and PVC remain robust compared to HDPE and PP, while the price of caustic soda is strong. Hanwha Solutions' caustic soda production capacity is 840,000 tons, holding the number one domestic market share of approximately 40%.

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