Hanwha Solutions Swings to Operating Profit of KRW 92.6B in Q1 2026, Decides KRW 1.8T Rights Offering
Consolidated revenue for Q1 2026: KRW 3.882 trillion (up 25.4% YoY), operating profit of KRW 92.6 billion (swing from loss of KRW 30.3 billion in Q1 2025), net loss of KRW 38.2 billion (improvement from full-year 2025 net loss of KRW 615.3 billion).
On March 26, 2026, the board resolved a rights offering of 56 million common shares (approx. KRW 1.8 trillion) via a rights issue and subsequent public offering. Largest shareholder Hanwha Corp. plans to participate at 120% of its entitlement.
A business restructuring plan for the Yeosu petrochemical complex was submitted to the government in December 2025; a revised plan was submitted in March 2026. The impact on financial statements as of period-end is not reflected.
Ongoing patent lawsuits in the U.S. ITC (First Solar investigation) and Germany (Jinko, REC, LONGi, Astronergy, Maxeon) related to solar technology.
A serious accident at the Ulsan plant in February 2026 resulted in one fatality; investigation by the Ministry of Employment and Labor underway.
No dividend for FY2025 due to accumulated losses. Mid-to-long-term shareholder return policy (FY26-FY30): target of higher of 10% of consolidated net income or KRW 300 per common share.