[Concall] Hanwha Solutions "This Year AMPC Scale 500 Billion to 600 Billion KRW"

Hanwha Solutions estimated that the tax credit amount under this year's Inflation Reduction Act (IRA) would reach 500 billion to 600 billion KRW.

On the 25th, during the earnings conference call, Hanwha Solutions stated, "We received 146.8 billion KRW in Advanced Manufacturing Production Tax Credit (AMPC) for the second quarter, and the third quarter is expected to be similar to or slightly higher than the second quarter," adding, "We estimate the total AMPC amount for this year to be around 500 billion to 600 billion KRW."

Regarding whether there would be any changes to business strategies following the U.S. presidential election results, the company said, "It has been 4 to 5 years since we started the business, and there will be no significant changes to the strategy itself."

Concerning financial structure improvement, the company announced alongside the earnings report that it plans to issue up to 800 billion KRW in new hybrid bonds. About the purpose of the issuance, the company stated, "It is for improving the financial structure and repaying borrowings. This will fulfill a significant portion of our funding needs."

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