Fact Source: Financial Supervisory Service DART / 2024-02-23
Disclosure Type: Corrected Report (Original Filing: Change in Revenue or Loss/Profit Structure by 30% or More)
💡 3-Second Summary
Hanwha Systems has filed a correction revising its FY2023 consolidated provisional net profit from KRW 325.6B to KRW 343.1B due to changes in financial statements made since its previous filing on February 7, 2024.
📊 1. [Key Disclosure Details & Financial Figures]
- Corrected Filing: Change in Revenue or Loss/Profit Structure by 30% or More (Original Filing Date: February 7, 2024)
- Correction Date: February 23, 2024
- Reason for Correction: Revisions to financial statements following the previous disclosure
- Key Corrected Figures (FY2023 Consolidated Financials):
- Revenue: (Before) KRW 2,453,034,239,000 ➔ (After) KRW 2,453,079,542,000 (Approx. KRW 2.45T, +12.1% YoY)
- Operating Profit: (Before) KRW 92,825,418,000 ➔ (After) KRW 92,870,721,000 (Approx. KRW 92.9B, +137.6% YoY)
- Profit Before Income Tax Expense: (Before) KRW 413,447,579,000 ➔ (After) KRW 413,446,014,000 (Approx. KRW 413.4B, turned profitable YoY)
- Net Profit: (Before) KRW 325,624,149,000 ➔ (After) KRW 343,083,289,000 (Approx. KRW 343.1B, turned profitable YoY)
- Total Assets: (Before) KRW 4,465,705,040,000 ➔ (After) KRW 4,483,210,825,000 (Approx. KRW 4.48T)
- Total Liabilities: (Before) KRW 2,329,084,304,000 ➔ (After) KRW 2,329,084,661,000 (Approx. KRW 2.33T)
- Total Equity: (Before) KRW 2,136,620,736,000 ➔ (After) KRW 2,154,126,164,000 (Approx. KRW 2.15T)
- Primary Causes for Financial Changes (As Stated in Filing):
- Revenue: Increased revenue driven by growth in cumulative order volume
- Operating / Net Profit: Improved operating margins due to revenue growth and increased valuation gains from investee companies
- Other Notes: Figures are based on unaudited internal settlement data and remain subject to change during external audit or shareholder meeting approval processes.
📈 2. [Expert View: What This Disclosure Means for Investors]
This filing details corrections made to Hanwha Systems’ FY2023 consolidated preliminary performance figures previously released on February 7, 2024.
According to the revised numbers, revenue and operating profit saw minor upward adjustments to KRW 2.45T and KRW 92.9B, respectively. Net profit was revised upward from KRW 325.6B to KRW 343.1B, representing an increase of approximately KRW 17.5B. As noted in the filing text, the drivers for the year-over-year gains include cumulative order expansion, operating margin improvements, and valuation gains from investee companies.
📝 Editor’s Comment (by K-STOCK Editor)
When reviewing corrected financial reports, it is important to examine the scale of changes relative to the initial disclosure alongside the underlying reasons provided. This corrected filing formally adjusts the FY2023 provisional consolidated net profit upward following internal accounting updates.
For investors, the primary reference point is identifying the stated operational drivers (cumulative order growth, margin improvements, and investee valuation gains) while noting that these internal settlement figures remain subject to confirmation in the final audit report and annual general meeting.
📢 Disclaimer & Source Notice
Source: This content was structured and newly generated based on official filing data from the Financial Supervisory Service’s DART system.
Investment Risk Warning: 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 securities. All investment decisions and financial responsibilities rest entirely with the investor.
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