Hanwha Engine saw its stock price surge as it continued to receive good news about orders.
Hanwha Engine shares were trading at 21,700 won in the KOSPI market at 9:13 a.m. on the 8th. The stock price rose by 12.49% (2,410 won) from the previous day. Early in the session, the stock price climbed to 23,050 won, setting a new record high in the past year.
Hanwha Engine announced that it secured orders for ship engines worth 629.2 billion won the previous day. The contract period extends until Nov. 8, 2028, with a structure of receiving a 20% advance payment and the remaining 80% upon delivery of the products.
This is assessed as the highest achievement for Hanwha Engine for a single contract. Although Hanwha Engine did not disclose the contracting party due to operational confidentiality, the market believes it was ordered by a Chinese shipbuilding company considering the contract size.
Hanwha Engine also secured ship engine contracts worth 84.1 billion won and 83.6 billion won on the 24th of last month and the 6th of this month, respectively. These orders were placed by Hanwha Ocean and Samsung Heavy Industries.