Fact Source: Financial Supervisory Service DART / 2024-12-30
Disclosure Type: Amendment to Sales / Supply Contract
💡 Summary in 3 Seconds
Hanwha Systems has amended its supply contract with the Defense Acquisition Program Administration (DAPA) for the TICN 4th Mass Production project, increasing the total contract value from KRW 612.2B to KRW 650.5B and extending the completion date to November 30, 2026.
📊 1. [Key Disclosure Details & Financial Highlights]
- Original Filing Date: December 27, 2021
- Amendment Date: December 30, 2024
- Reason for Amendment: Changes in contract value and contract period
- Contract Title: TICN 4th Mass Production
- Contract Amount Revision:
- Before: KRW 612,234,135,244 (approx. KRW 612.2B)
- After: KRW 650,532,372,233 (approx. KRW 650.5B, +KRW 38.3B increase)
- Relative Size to Revenue Revision:
- Before: 37.27%
- After: 39.60% (Based on 2020 consolidated annual revenue of KRW 1.64T)
- Counterparty: Defense Acquisition Program Administration (DAPA)
- Contract Period Revision:
- Start Date: December 24, 2021 (Unchanged)
- End Date (Before): December 31, 2025
- End Date (After): November 30, 2026 (Extended by 11 months)
- Other Notes: Subject to zero-rate VAT; contract terms remain subject to potential changes based on execution progress.
📈 2. [Professional Insight: What This Means for Investors]
This filing details a regulatory amendment to a supply contract originally signed in December 2021 with the Defense Acquisition Program Administration (DAPA) for the TICN 4th Mass Production project.
The total contract value has been revised upward from approx. KRW 612.2B to approx. KRW 650.5B, reflecting an increase of approx. KRW 38.3B (6.26%). Consequently, the contract’s proportion relative to 2020 annual revenue increased from 37.27% to 39.60%. Additionally, the contract completion date was extended by 11 months, shifting the scheduled end date from December 31, 2025, to November 30, 2026. As noted in the filing, these terms remain subject to further adjustments depending on project progress.
📝 Editor’s Comment (by K-STOCK Editor)
The objective facts established in this amendment disclosure are the increase in the DAPA TICN 4th mass production contract value to KRW 650.5B and the extension of the contract period through November 30, 2026.
Moving forward, the primary objective checkpoints for investors are tracking project execution through the extended completion date of November 30, 2026, and monitoring for any subsequent regulatory amendment filings. As the disclosure explicitly notes potential future adjustments to value and duration, observing implementation progress remains essential.
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