Hanchem: Weak Q1 2026 Results but Initiates First Cash Dividend and Quarterly Dividend
Q1 2026 (28th period) revenue 6.3 billion won (down 20.6% YoY), operating profit 0.46 billion won (down 63.5% YoY), net profit 0.62 billion won (down 50.8% YoY) - weak performance.
At the AGM on March 27, 2026, approved year-end cash dividend of 200 won per share (2.64% yield) and introduced quarterly dividend via articles amendment; first dividend since establishment.
Net debt ratio 4.0% (end-2025: 4.9%), cash & equivalents 3.78 billion won, total equity 58.45 billion won; sound financial structure.
Okcheon plant expansion investment (~10 billion won) underway, expected to start operation in H1 2026, increasing production capacity by over 20%.
OLED material sales share decreased to 74.3% (prior year 84.0%), but other materials (catalyst, pharma, etc.) share expanded to 25.7%.
R&D expense to sales ratio increased to 2.26% (prior year 1.66%), indicating expanded R&D investment.