Haein혜인

Haein's shares have risen sharply over the past year, while reported profits fell back from 2024 to 2025 and recovered in the first half of 2026.

Haein is a Korean group that imports and sells construction and power equipment from brands such as Caterpillar, METSO and Jungheinrich, and also runs rental, used equipment and renewable energy businesses. Trailing results to H1 2026 show revenue of ₩213.7B, operating income of ₩20.7B and net income of ₩17.9B, with an operating margin of 9.7%. The share price closed at ₩9,870 on 2026-10-23, up 78.2% over one year, and sits below its 52-week high of ₩13,290.

What stands out

• Trailing net income of ₩17.9B is well above the ₩14.2B reported for 2025 and the ₩7.3B for 2024, though trailing revenue of ₩213.7B is below the ₩241.7B for 2025.
• The 2025 annual results showed revenue down 2.9% and operating margin of 7.3%, versus 5.7% in 2024.
• Trailing debt is ₩39.7B against cash of ₩28.5B, and liabilities are 92.6% of equity.
• The company's own filings include a major sales or supply contract dated 2026-10-21, though the data does not give its value or terms.
• Valuation metrics are low relative to the stock's recent rise: P/E of 7, P/B of 0.9, and a 2% dividend yield. The DCF base-case fair value of ₩11,558 is above the current price, but the bear (₩4,402) and bull (₩24,621) cases span a very wide range.

What to watch

• The next quarterly or half-year results, and whether revenue and margins hold at the trailing levels.
• Foreign investors reduced holdings over the last 20 days (net outflow of about ₩3.5B), while the foreign ownership share rose to 5.3%; the data does not explain why.
• Exchange inquiries about news reports and price moves in August 2026 and the amended annual report filed on 2026-08-14; the data does not state their outcomes.