Hanwha Solutions한화솔루션

Hanwha Solutions remains loss-making on a trailing basis, while US solar tariff news has lifted sentiment in recent headlines.

Hanwha Solutions, a Korean chemicals and solar company, reported a trailing twelve-month operating loss of ₩98B on revenue of ₩15.6T as of H1 2026, after losses in 2025 and 2024. The shares closed at ₩26,500 on 26 October 2026, about 55% below the 52-week high of ₩59,300 but up 1.1% over three months. The balance sheet carries heavy borrowings of ₩15.4T against cash of ₩2.7T.

What stands out

• Revenue was ₩15.6T on a trailing basis, but operating income was negative at about -0.6% margin and net income at about -₩170B.
• Trailing free cash flow was negative at about -₩1.1T, and liabilities were 183.7% of equity.
• The stock is down 17.4% over one year, and the price-to-book ratio is about 0.6, with no dividend yield.
• Recent headlines focus on higher US solar tariffs on Chinese products, which some brokers and media say may benefit Hanwha Solutions, and on its cable materials push.
• Foreign ownership edged up to 12.4% from 12.1% over 60 days, while retail investors were net sellers over the last 20 days.

What to watch

• The rights offering (paid-in capital increase) decision filed on 30 September 2026 may affect share count and funding; the filing does not give the size or terms in the data provided.
• Several related-party transaction and debt guarantee filings in September and October 2026 could bear on financing and group exposure.
• Whether the tariff-driven solar demand described in news reports shows up in future reported results; the data does not include forecasts or analyst estimates.