Cheryong Industrial Extends HVDC Supply Contract Delivery to August 2026, Contract Value 21.5 Billion KRW Representing 52.6% of Sales

Cheryong Industrial has extended the delivery period of its HVDC insulator and wire fittings supply contract with Korea Electrical Industry Cooperative from June 29, 2026 to August 31, 2026, due to client request.
The contract aggregates three packages for the Donghaean-Sin Gapyeong HVDC project with a total value of 21,525,064,507 KRW, accounting for 52.6% of the company's 2023 sales of 40.9 billion KRW.
The counterparty, Korea Electrical Industry Cooperative, won the bid from Korea Electric Power Corporation using Cheryong's products, and Cheryong has delegated all bidding and contract tasks to the cooperative.
The contract is fixed with no advance payment; payment terms are unspecified.
This delivery extension is a schedule adjustment with no additional costs or changes to contract amount.
[AI Summary]The delivery extension for Cheryong Industrial's major HVDC contract does not alter the contract size or conditions, so the direct impact on shareholder value is limited. However, as the contract represents over half of sales, its successful execution remains critical for future earnings.