HiSonic, Major Shareholder Change and Complete Management Overhaul... "Opening a New HiSonic Era"

HiSonic announced on the 17th that it is seeking to improve the company’s performance and explore new growth engines centered on the new management team through a change in the largest shareholder and a complete overhaul of the executive team.

HiSonic’s largest shareholder changed from ‘Nokwon CNI’ to ‘Ano28’ in July last year, and the current shareholding ratio of the largest shareholder and related parties is 32.61%. In April this year, CEO Kim Chan-jong was newly appointed, transitioning the company to a co-CEO system.

CEO Kim was responsible for strategic planning including new business at SubOne, as well as purchasing management for major clients such as LG Innotek, LG Electronics, and LG Energy Solution. Based on this practical experience, Kim holds a solid external network and is expected to play a pivotal role related to new business.

HiSonic’s IT components business is overseen by Lee Hwan-gi, Head of the Components Business Division. Director Lee served as development team leader and manufacturing director at Sungwoo Electronics, combining experience and practical knowledge in the IT field, making him a suitable candidate to expand sales and improve profitability in the core business.

HiSonic, centered on the new management team, has succeeded in normalizing management and is also focusing on improving performance. Last year, on a consolidated basis, the company achieved both sales growth and a return to profitability. In March this year, the largest shareholder decided to voluntarily lock up 4,105,000 shares for three years, stabilizing management control. Based on this stable governance structure, HiSonic plans to improve the profitability of its core IT components business and secure additional growth engines through new business initiatives.

A HiSonic official stated, “Since the change of the largest shareholder in July last year and the complete replacement of the management team, the company has been reborn as a completely different entity with no connection to the previous company, and has no relation to the former largest shareholder or previous management.” He added, “The largest shareholder will maximize the company’s future value by voluntarily locking up all held shares for three years, ensuring stable management control.”

He continued, “Having overcome a long-term trading suspension and achieved difficult management normalization, we plan to improve performance in the existing IT components business by gradually increasing the proportion of high-profit items. At the same time, we are reviewing new businesses that will serve as future growth engines for the company from various angles and will soon concretize and disclose them.”

This content was produced with the assistance of AI translation services.