Chinhung International Secures 54.4 Billion KRW Construction Contract for DaeKwang Villa Housing Redevelopment Project, Equivalent to 9.44% of Annual Revenue
Chinhung International has signed a 54.4 billion KRW construction contract with the DaeKwang Villa Block Housing Redevelopment Association to build an apartment complex in Seoul. This contract represents 9.44% of the company's recent annual revenue of 576.4 billion KRW.
The project involves constructing 145 apartment units and ancillary facilities in Anam-dong, Seongbuk-gu, Seoul, with a contract period of 35 months from the actual start date.
No advance payment is required; progress payments will be made. The contract amount and period are subject to change based on project progress.
[AI Summary]The new order is expected to boost revenue, but the contract size relative to market cap and the absence of capital structure changes suggest a neutral impact on the stock price.