Source of Facts: Financial Supervisory Service DART / 2025-12-23
Disclosure Type: Execution of Single Sales/Provider Contract
💡 3-Second Summary
Hanwha Ocean has executed an Engineering, Procurement, and Construction (EPC) contract valued at approximately KRW 1.9716 trillion (representing 18.3% of its recent annual revenue) with its affiliate, Shinan Ui Offshore Wind Power Co., Ltd., to build the Shinan Ui Offshore Wind Power Plant, with the contract period scheduled from December 22, 2025, to June 19, 2029.
📊 1. [Key Disclosure Content & Major Figures Summary]
- Contract Category & Contract Name: Construction Order / Shinan Ui Offshore Wind Power Plant Engineering, Procurement, and Construction (EPC) Contract
- Contract Details & Scale:
- Contract Value: KRW 1,971,600,000,000 (Approx. KRW 1.9716T)
- Recent Annual Revenue: KRW 10,776,000,000,000 (Approx. KRW 10.78T, based on the consolidated financial statements as of the end of fiscal 2024).
- Ratio to Sales: 18.3% (Categorized under Large Corporation thresholds).
- Contract Counterparty & Region: Shinan Ui Offshore Wind Power Co., Ltd. (Relationship: Affiliate) / Vicinity of Ui-do-ri, Docho-myeon, Shinan-gun, Jeollanam-do, South Korea
- Contract Period: December 22, 2025 ~ June 19, 2029 (Contract/Order Date: December 22, 2025)
- Key Contract Terms: Down payment/prepayment: None; Payment structured progressively based on construction milestones.
- Rounding Standard: The contract value and recent annual revenue are rounded to the nearest one hundred million won, respectively.
- Project Variability Clause: The contract period and final settlement amount remain subject to subsequent changes during the construction progress.
📈 2. [Expert View: What This Disclosure Means for Investors]
- Official Registration of Large-Scale Order Inflow: This filing officially registers a procurement contract established with the company’s affiliate, Shinan Ui Offshore Wind Power Co., Ltd., totaling KRW 1.9716 trillion. Quantitative order backlog parameters representing 18.3% of recent consolidated revenue have been formally entered into the corporate record.
- Recording of Affiliate Internal Transaction: The contract is formally registered as an internal transaction with an affiliate. The physical execution site is designated in the marine areas near Ui-do-ri, Docho-myeon, Shinan-gun, Jeollanam-do.
- Milestone Sourcing and Progress Adaptation: The payment terms specify that there is no initial down payment or prepayment. Funding is structured progressively, relying on physical construction milestones over the project’s duration. The timeline extending to June 19, 2029, remains flexible, as the filing explicitly notes that both the schedule and the final settlement figures are subject to change based on actual building progress.
📝 Editor’s Comment (by K-STOCK Editor)
Hanwha Ocean’s regulatory filing regarding its single sales and provider contract outlines the administrative parameters established to record its new construction agreement with its affiliate, Shinan Ui Offshore Wind Power Co., Ltd., for the Shinan Ui Offshore Wind Power Plant. According to the document, the confirmed contract valuation stands at approximately KRW 1.9716 trillion, registering a quantitative backlog milestone equivalent to 18.3% of the company’s fiscal 2024 consolidated revenue.
The critical variables and primary checkpoints for investors to analyze moving forward are the ‘actual construction progress rate achieved through June 19, 2029’ and the explicit disclosure parameter stating that ‘the contract period and final settlement amount are subject to change.’ This contract relies on progressive billing linked to physical production milestones over a multi-year timeframe, moving toward the scheduled completion date without initial prepayments.
Consequently, investors should avoid drawing definitive conclusions regarding fixed financial metrics or final production schedules based solely on the signing of this specialized construction contract or its nominal valuation. It remains essential to monitor the transactions under the explicit conditions stated in the filing, tracking how the physical construction of the wind power plant is systematically implemented under the approved KRW 1.9716 trillion framework, under which all final values and schedules remain subject to change during the construction progress.
📢 Disclaimer & Source Information
Source: This content was newly structured and written based on the official data submitted to the Financial Supervisory Service’s Electronic Disclosure System (DART).
Investment Risk Advisory: This information 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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