HMCIB No.7 Special Purpose Acquisition에이치엠씨제7호스팩

HMCIB No.7 is a shell SPAC with no revenue, no merger target yet, and a share price pinned near ₩2,065.

HMCIB No.7 Special Purpose Acquisition is a blank-check company listed on KOSDAQ since June 2024, with the sole aim of merging with a yet-to-be-identified target. As of late October 2026 it reports zero revenue, a small operating loss, and net income of about ₩179M for the first half of 2026, mostly from non-operating items the data does not break down. The share price has barely moved over one year (up 2.7%) and trades in a narrow ₩2,005 to ₩2,075 range.

What stands out

• Revenue is zero in every period shown, and operating income is a small loss (about -₩29M TTM), which is typical for a SPAC with no operating business.
• Trailing net income of about ₩179M is positive, but the filed data does not explain its source, so it should not be read as operating profit.
• Cash of about ₩1.55B is offset by borrowings of about ₩1.24B; liabilities are 8.5% of equity, and the price-to-book ratio is about 1.0.
• Trading is thin: foreign ownership is 0%, short balance is 0%, and 20-day flows show retail net selling of about ₩194M against institutional net buying of about ₩177M.
• Recent filings include a half-year report (August 2026), a 5%+ holding report (July 2026), and a change to the deposit and trust agreement (June 2026); no news headlines were found in the data.

What to watch

• Whether the company announces a merger target, since its business depends entirely on completing a merger; the data shows none so far.
• Changes to the deposit and trust agreement or any shareholder-register notices, which may affect how shares and funds are handled.
• Future half-year and annual filings for the source and recurring nature of net income, which the current data does not explain.