Hanjoo Art한주에이알티

Hanjoo Art shares have collapsed about 88% in a year as regulators sanction it for inflated sales and it faces a listing-eligibility review.

Hanjoo Art is a small KOSDAQ entertainment company with film and broadcast production, franchise and equipment businesses. The trailing twelve months to H1 2026 show revenue of ₩17.1B, an operating loss of ₩4.6B and a net loss of ₩6.9B, with borrowings of ₩6.9B against cash of ₩0.4B. Recent filings and headlines centre on accounting violations and a possible delisting review.

What stands out

• Revenue has fallen from ₩14.3B in 2024 to ₩6.3B in 2025, and the company has reported losses in every year shown from 2021 to 2025.
• Filings and news say the Securities and Futures Commission found ₩25.8B in overstated sales over three years and referred the matter to prosecutors, and the company is under a three-year auditor designation.
• A market notice says the exchange has started a substantive review of listing eligibility, and a trading halt was recorded on 7 October 2026.
• Market value is about ₩3.2B, a price-to-book ratio of 0.2 and no dividend, while the 1-year return is -87.9%.
• Liabilities are 94.7% of equity and free cash flow over the trailing period was -₩2.2B, so the balance sheet is under strain.

What to watch

• The outcome of the exchange's substantive review of listing eligibility and any deadline for its decision.
• Whether the company files restated accounts and what the external auditor concludes on the ₩25.8B of entries.
• The rights offering and the upcoming shareholders' meeting, which may affect share count and funding; the data does not give terms.