Fact Source: Financial Supervisory Service DART / 2024-04-25
Disclosure Type: Single Sales or Supply Contract (Voluntary Disclosure) (Amendment)
💡 3-Second Summary
Hanwha Ocean has amended its KRW 176.4B ‘1 LPG Carrier’ construction contract with an anonymous shipowner in the Americas region, shifting the contract start (effective) date from April 25, 2024, to May 7, 2024, due to a change in the schedule for fulfilling conditions precedent.
📊 1. [Key Disclosure Content & Summary of Financial Figures]
- Contract Category: Construction Contract (Detailed Content: 1 LPG Carrier)
- Contract Amount: KRW 176,400,000,000
- Recent Revenue: KRW 7,408,300,000,000 (Based on the consolidated financial statements at the end of 2023)
- Ratio to Revenue: 2.4%
- Contract Counterparty: Shipowner in the Americas region
- Sales & Supply Region: Americas Region
- Contract Period:
- Start Date: (Before) 2024-04-25 -> (After) 2024-05-07
- End Date: 2027-01-31
- Contract Date: April 16, 2024
- Initial Filing Date: April 17, 2024
- Reason for Amendment: Amendment of the contract start date (effective date) due to changes in the timeline for fulfilling conditions precedent
- Stock Number: 042660
- Other Notes: The contract amount and recent revenue figures are rounded to the nearest KRW 100M. The contract amount was calculated by applying the trading base exchange rate of USD 1 = KRW 1,383.70 as of April 16, 2024. The contract period and final settlement amount are subject to modification during the construction process. The contract is scheduled to become effective on May 7, 2024, after the fulfillment of conditions precedent upon mutual agreement.
📈 2. [Expert View: What This Disclosure Means for Investors]
This filing serves as an official amendment notice clarifying that Hanwha Ocean has modified the effective commencement timeline for its KRW 176.4B ‘1 LPG Carrier’ construction contract originally announced on April 17, 2024.
The official reason provided for this adjustment is an alteration in the schedule for satisfying the conditions precedent, which postpones the formal contract start date by 12 days to May 7, 2024. The original document lacks specific data analyzing the precise underlying causes of this conditional delay or how this shifting timeline will quantitatively affect immediate quarterly revenue recognition schedules and consolidated gross profit metrics. Consequently, international market participants should interpret this update strictly using the verified data regarding the adjusted execution date and the fixed contract end date of January 31, 2027.
📝 Editor’s Comment (by K-STOCK Editor)
This contract amendment notice details a definitive timeline update for Hanwha Ocean’s KRW 176.4B ‘1 LPG Carrier’ construction contract, establishing that the operational activation date has been shifted to May 7, 2024, following adjustments in the conditions precedent phase. The document concentrates entirely on rendering verified variables, including the fixed exchange rate of USD 1 = KRW 1,383.70 and the specified contract period parameters.
The primary metrics and checkpoints for market participants to watch next are the formal execution of the contract on the newly designated start date of May 7 and prospective secondary revisions during the fulfillment phase. As outlined in the regulatory text, both the overall contract period and the ultimate settlement figures remain subject to modification during the construction progress.
Consequently, instead of evaluating this procedural timeline adjustments as inherently bullish or bearish for equity valuations, investors should treat this disclosure as a factual corporate timeline update and focus on tracking subsequent quarterly financial reports and verified corporate performance records following the scheduled execution target.
📢 Disclaimer & Source Information
Source: This content was structured and newly written based on official data submitted to the Financial Supervisory Service electronic disclosure system (DART).
Investment Risk Notice: This content is provided for informational and linguistic reference purposes only. Under no circumstances does it constitute financial advice or a recommendation to buy or sell specific stocks. All investment decisions and financial responsibilities rest entirely with the investor.
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