Hanmi Science한미사이언스

Hanmi Science has passed ₩1T in cumulative revenue this year, but operating profit fell in Q3 and a shareholder dispute is drawing attention.

Hanmi Science is a holding company whose revenue comes from subsidiaries in healthcare, pharmaceutical wholesale and royalties. On a trailing twelve-month basis to H1 2026 it reports revenue of about ₩1.41T, operating income of ₩170B and net income of ₩151B, with the shares at ₩42,200 after a 19.2% fall over the past month. Recent filings and news focus on Q3 profit weakness and a legal complaint involving its largest shareholders.

What stands out

• Q3 operating profit was reported at ₩19.2B, down 51.3% year on year, while cumulative revenue passed ₩1T.
• Trailing operating margin is 12.1% and net margin 10.7%, above the 2025 full-year levels of 10.2% and 8.7%.
• Annual revenue has grown each year from 2021 to 2025, reaching ₩1.36T in 2025, though 2025 net income of ₩118B was below 2023's ₩115B only slightly.
• The model fair value range is ₩12,676 to ₩26,620 with a base of ₩19,014, well below the current price; the data does not explain the method's assumptions in detail.
• Foreign ownership rose from 0.9% to 1.3% over 60 days, while foreign investors were net sellers over the last 20 days.

What to watch

• Shareholder matters: a complaint against the largest shareholders was referred to police and the data notes possible voting-rights restrictions.
• Share cancellation decisions and largest-shareholder holding changes listed in recent filings.
• Full-year results and any further Q4 disclosures, since Q3 profit fell sharply.