Hanshin Engineering & Construction "Securing Liquidity Including Cash Equivalents... Unshaken by Recession"

Hanshin Engineering & Construction announced on the 28th that it has secured sufficient liquidity in preparation for the downturn in the construction industry.

They have been focusing on holding cash equivalents, resulting in a 47% increase compared to 2019, securing 431.2 billion KRW. Quoting Korea Ratings, they also emphasized the alternative funding capability based on owned real estate such as the headquarters site.

Regarding Pohang Pentacity, which showed sluggish performance since the start of sales at the end of 2021, they reported that the sales rate has improved to around 80%. Although some local projects recently experienced poor sales performance, they expect improvement through continuous promotional activities amid a market atmosphere that has improved following the government's successive real estate regulation easing policies.

A Hanshin Engineering & Construction official stated, "Anticipating the recent downturn in the sales market, the company has been focusing on liquidity management through holding cash equivalents for several years, and also has sufficient alternative funding capability based on assets such as the headquarters site. Therefore, even if the real estate downturn continues, we can respond through the cash on hand and alternative funding capability based on real estate."

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