HYOSUNG Subsidiary HYOSUNG Heavy Industries Increases Sanggok Urban Environment Improvement Project Contract to 585.6 Billion KRW
HYOSUNG's subsidiary HYOSUNG Heavy Industries increased the contract amount for the Sanggok Urban Environment Improvement Project by approximately 8.6 billion KRW from 577.0 billion KRW to 585.6 billion KRW through a change contract.
This contract amount represents 19.63% of HYOSUNG Heavy Industries' consolidated revenue as of end-2020 of 2.984 trillion KRW, and HYOSUNG Heavy Industries holds a 68.23% stake in the total project value of 858.3 billion KRW.
Payment terms are based on sales proceeds with no advance payment, and the contract period is 43 months from the actual start date, subject to change during construction.
No capital changes or shareholder return policies are included.
[AI Summary]The subsidiary's modest contract increase reflects normal business expansion with no capital dilution or governance changes, offering a limited positive impact on HYOSUNG's revenue outlook but no direct effect on stock valuation.
KOSPI Filing Information
[Correction of Description] Conclusion of Single Sales and Supply Contract (Major Management Matters of Subsidiary)