Hanwha Solutions' performance for the second quarter of this year (April to June) fell short of market expectations, causing its stock price to plummet.
Hanwha Solutions stock traded at 34,100 won on the KOSPI market at 2:06 p.m. on the 30th. The stock price dropped by 10.5% (4,000 won) compared to the previous day.
Hanwha Solutions announced its second-quarter results around 1:53 p.m. that day. Sales were tentatively reported at 3.1173 trillion won, with an operating profit of 102.1 billion won. Compared to the same period last year, sales increased and operating profit turned into a surplus.
However, it did not meet market expectations. Hanwha Solutions' second-quarter performance forecast was sales of 3.2390 trillion won and an operating profit of 140.1 billion won. Actual sales fell short by 4%, and operating profit fell by 27%.