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KREDKRED
067310KOSDAQ

Hana Micron

50,700
-2,100 (-3.98%)

Price chart

  • MA5
  • MA20
  • MA60

Adjusted prices rescale past bars with coefficients taken from the base prices the exchange itself published, correcting for corporate actions such as stock splits and reverse splits. Cash dividends are not reflected, and the risk measures on this page never use these adjusted figures.

Market capitalizationKRW 1T

Each day's close multiplied by the listed share count of this share class alone, sampled weekly. It is the figure for this issue only, not a combined total across common and preferred shares.

Overview

Summary

Hana Micron is a mid-sized company established on August 23, 2001. The company is listed on the KOSDAQ market and is headquartered in Asan, Chungcheongnam-do.

The company specializes in semiconductor back-end processes. Its business segments include semiconductor packaging and testing, the production of silicon and silicon carbide parts for etching processes, and investments in new technology businesses through a subsidiary.

Business overview as filed

당사는 2001년 8월에 설립되어 2005년 10월 코스닥시장에 상장된 반도체 후공정 전문 기업 입니다. 또한, 한국채택국제회계기준 적용 기업으로, 비재무사항에 기재한 연결 대상법인에는 당사를 비롯한 주요 종속회사인 하나머티리얼즈(주)와 HT MICRON SEMICONDUTORES S.A., Hana Micron Vina Co.,Ltd 를 포함합니다. 당사 및 주요종속회사는 현재 반도체 제품(패키징) 생산 및 반도체 재료(반도체 식각공정용 실리콘 Part)제품의 생산을 주요 사업으로 영위하고 있습니다. 또한, 하나머티리얼즈(주)의 종속회사인 하나에스앤비인베스트먼트(주)는 신기술사업 투자부문의 사업을 진행하고 있습니다.

(1) 반도체 제조 부문반도체 제조부분은 반도체 산업의 Back-end 분야인 반도체 패키징 및 테스트를 주요 사업으로 영위하고 있으며, 업계선두의 반도체 패키징 및 테스트 기술을 보유한 전문 엔지니어들로 구성되어 있는 반도체 후공정 전문기업으로 글로벌 반도체 산업의 선두주자를 주요 고객처로 두고 있습니다. 반도체 제조 부문은 경쟁사 대비 납기와 품질에서의 경쟁력과 모바일용 D 램 Stack Chip등의 공정기술에서의 우위를 바탕으로, 2025년 매출액은 전년 동기 대비 26% 증가한 12,609억원, 영업이익은 22% 증가한 776억원을 달성하였습니다. 향후에는 고객사와의 협력관계를 더욱 공고히 하는 한편, 고부가가치 메모리 제품 확대 및비메모리 패키징, 테스트 사업확대를 통해 매출 및 수익성을 개선해 나갈 계획입니다.(2) 반도체 재료 부문반도체 재료부문은 반도체 등의 제조공정에 사용되는 실리콘 부품(Si-Parts)사업과 신규사업인 실리콘카바이드사업(SiC-Parts)으로 구성되며, 이는 반도체의 핵심 제조공정인 에칭(식각)공정에 사용되는 소모성 부품입니다. 최근 반도체 공정에서의 고집적도를 위한 선폭 미세화에 따른 고밀도 플라즈마 환경의 도입과 Dry Etching 공정의 확산으로 중요성이 더욱 부각되고 있습니다. 반도체 재료부문은 독보적인 경쟁력을 유지하며 2025년 매출액은 전년 동기 대비 9% 증가한 2,729억원, 영업이익은 17% 증가한 506억원을 달성하였습니다.(3) 신기술사업금융 부문당사의 종속회사인 하나에스앤비인베스트먼트 주식회사는 반도체 및 배터리 산업에서 사용되는 소재/부품/장비 업종 내 신기술사업자 및 중소/신규 스타트업(Start-up)기업 투자 지원 및 육성을 목적으로 설립 되었습니다. 투자 대상 기업 각각의 상황에 맞는 동반 성장 환경을 구축할 수 있도록 다양한 측면의 기업 지원 사업을 진행하고 있으며 2025년 매출액은 6.1억원, 영업이익은 (-)5.5억원을 기록하였습니다.

Company overview

가. 연결대상 종속회사 개황(연결재무제표를 작성하는 주권상장법인이 사업보고서,분기ㆍ반기보고서를 제출하는 경우에 한함)

연결대상 종속회사 현황(요약)

나. 연결대상회사의 변동내용

다. 회사의 명칭·상업적 명칭

회사의 명칭은 하나 마이크론 주식회사이며, 영문명은 Hana Micron Inc. 입니다.

라. 설립일자

2001년 8월 23일에 설립되었으며, 2005년 10월 11일에 기업공개를 실시하였습니다.

마. 본사의 주소, 전화번호, 홈페이지 주소

ㆍ주소 : 충남 아산시 음봉면 연암율금로 77 ㆍ전화번호 : 041-423-7777 ㆍ홈페이지 주소 : http://www.hanamicron.co.kr

바. 중소기업 해당여부

당사는 보고서 제출일 현재 중소기업기본법 제2조에 의한 중소기업에 해당되지 않으며「중견기업 성장촉진 및 경쟁력 강화에 관한 특별법 제2조 제1호」에 의한 중견기업에 해당됩니다.

사. 주요 사업의 내용

아. 신용평가에 관한 사항

신용등급체계 설명

자. 회사의 주권상장(또는 등록ㆍ지정)여부 및 특례상장에 관한 사항

Transcribed verbatim from the sentences the filer wrote in the fiscal 2025 business report (received 2026.03.19), tables and figures omitted.

  • The summary is written separately from the filed text and is not the filer's wording, so it may phrase things differently from or omit parts of the original, which is shown alongside for checking.
  • The company introduction reproduces the sentences the filer wrote in its business report, with tables, figures and the sentences that point to other sections of the report omitted, and the accuracy of their content has not been separately verified.

VaR

6.90%
[4.97%, 10.71%] · As of 2026-10-01
VaR by window

The headline's measure for each of the three windows on one scale, the dot being the estimate and the bar its interval. The windows are nested and share their observations, so the three readings are not three independent measurements. The selected window is highlighted.

Daily return distribution

The issue's daily returns over the chosen window counted into equal-width bins. The vertical lines mark the VaR and cVaR above on the loss side. The published VaR sample applies exclusion rules for halts and first sessions that this raw daily series does not, so the bars and the marks can differ slightly at the edges.

Drawdown

Deepest drawdown 56.4% (2026-07-30). How far below its previous peak the issue stood each day over the chosen window, a description of the path already travelled.

If these numbers are unfamiliarThere is a guide that walks through VaR, cVaR and annualized volatility in plain language.Read the guide

Characteristic line

1.03
Beta [0.85, 1.21] · KOSDAQ150 · As of 2026-10-07
Intercept
+0.450%[-0.056%, +0.955%]
R squared
0.38
Observations
252
Trading-time corrected beta
1.03[0.73, 1.34]
252-day rolling beta

A 252-day window rolled one day at a time over the longest daily span of the characteristic line. It shows when the beta against the KOSDAQ150 and the annualized volatility of the issue's excess return rose and fell, and unlike the headline figures above it carries no interval.

252-day rolling annualized volatility

Each point is one period's index excess return and issue excess return, and the line is the regression fitted to those points. The risk-free rate is the certificate of deposit rate.

Financials

20152016201720182019202020212022202320242025TTM
RevenueKRW 100M——3,6584,7994,9825,3956,6958,9449,68012,50715,34420,733
Revenue growth%———31.203.808.2824.1133.598.2329.2122.69—
Operating incomeKRW 100M——4115344535101,0471,0355791,0681,2773,001
Operating income growth%———30.13-15.2912.73105.29-1.12-44.0884.4319.57—
Net incomeKRW 100M45-2451042161453664358210-1126562,159
Net income growth%—-649.26—107.45-32.99-74.961,669.18-9.40-98.35-1,258.48——
Attributable to ownersKRW 100M——-814-24-16722828-135-2383811,712
Attributable to minoritiesKRW 100M——112202169203415554145126275447
Operating margin%——11.2211.139.089.4615.6411.585.988.548.3214.47
Net margin%——2.854.512.910.679.606.510.10-0.894.2710.41
ROE%——-0.641.05-1.64-12.118.811.07-4.37-6.409.5630.98
ROA%1.13-6.002.043.582.050.476.244.130.06-0.573.258.86
Debt ratio%167.83191.17195.13193.29198.87209.97138.61188.61216.89220.99209.16194.44
Current ratio%43.9036.4548.3444.1167.1473.0797.3286.7466.9599.2484.6994.05
Quick ratio%34.2126.1424.0420.9938.1747.8766.8045.8840.6272.6054.8259.62
Reserve ratio%——760.78858.48781.02689.84888.51905.771,061.15———
Free cash flowKRW 100M-25930-481-762-451-259-294-1,965-2,244-1,038320—
FCF margin%——-13.15-15.87-9.06-4.80-4.39-21.96-23.19-8.302.09—
OCF conversion%557.50—368.26207.43495.812,278.87232.19223.178,630.00—266.73—
Capex to revenue%——23.6525.2323.4920.1426.6836.4931.7711.579.31—
Receivable daysdays————————4.5———
Inventory daysdays——53.566.966.061.063.871.876.057.656.9—
Payable daysdays——43.2—————————
EPSKRW121-1,278-3663-98-60771366-313-4286372,574
PERx———60.24——28.47140.76——40.4219.36
BPSKRW—5,3925,5645,8935,2394,4986,4685,5116,4415,6076,0078,311
PBRx—0.980.960.641.072.523.141.694.531.654.296.00
Dividend per shareKRW50——6050——50507070—
Payout ratio%41.32——95.24———75.76——10.99—

Consolidated basis

Profit flowKRW 100M

Revenue
15,344
Cost of sales
13,221
Gross profit
2,123
Operating income
1,277
SG&A expenses
846
Profit before tax
800
Non-operating expenses
477
Net income
656
Income tax expense
144

This diagram traces where revenue goes at each step on its way to net income, using the filed amounts as they are. The non-operating result is taken as the difference between profit before tax and operating income and is shown as income or expense by its sign, and whatever a step's items leave unexplained is shown separately as other.

Revenue compositionKRW 100M

Margins%

Cash flow by activityKRW 100M

Balance sheet compositionKRW 100M

Debt ratio%

The left bar splits assets into current and non-current and the right bar splits the financing of those assets into liabilities and equity, so the two bars stand at the same height.

Quarterly resultsKRW 100M

Year-on-year growth%

Each quarterly bar is that quarter's three months and is never mixed with an annual figure. The growth rate is computed only where the same quarter a year earlier is also shown here, and is left blank when the base was a loss.

Cash conversion cycledays

Free cash flow breakdownKRW 100M

Inventory days and receivable days stack upward, payable days hang downward, and the cash conversion cycle they net to is drawn as the line. Each day count uses the average balance with the prior year, so the oldest year is not drawn. A day count whose line was not filed is left out, and the cycle is shown only for years that carry all three.

Free cash flow is cash from operating activities less spending on property, plant and equipment, and all three bars keep the sign as filed.

Owners' net margin%

Asset turnoverx

Financial leveragex

ROE%

ROE is the product of the owners' net margin, asset turnover and financial leverage. All three use period-end balances as denominators, and profit and equity are on the owners' basis, so the product matches the ROE in the table.

Financial statements

Balance sheet

20152016201720182019202020212022202320242025
3,9484,0855,117*6,0497,0677,64810,304*14,09017,25119,44620,178
2,4742,6823,3833,9874,7025,1815,986*9,20811,80713,38813,652
1,4741,4031,734*2,0632,3652,4674,318*4,8825,4446,0586,527

Income statement

20152016201720182019202020212022202320242025
Not applicableNot applicable3,6584,7994,9825,3956,6958,9449,68012,50715,344
Not applicableNot applicable4115344535101,047*1,0355791,0681,277
Not applicableNot applicable185*342235113862*907140-20800
45-245104*21614536643*58210-112656
Basic earnings per shareKRW121-1,278-36*63-98-607*713*66-313*-428*637
Diluted earnings per shareKRW121-1,278-36*63-98-607*709*65-313*-428*637
Not applicableNot applicable122*225110-20707*66370-21605

Cash flow statement

20152016201720182019202020212022202320242025
Net incomefrom the income statement45-2451042161453664358210-112656
Total adjustments to operating cash flowcomputed2045752802335747928507178225211,093
249*3303844497198281,4921,3008314101,749
-475*-299-999-1,172-1,307-1,256-1,843-3,989-4,081-1,461-1,568
217*276147156338531,0592,4533,3071,467-710
Cash at beginning of periodKRW 100M45369191821195381,2311,0071,0671,550
369191821195381,2311,0071,0671,550956
Net change in cash and cash equivalentsKRW 100M-9550-937419693-22460484-595

In the latest fiscal year cash generated by operations covered both investing outflows and financing outflows.

A year whose own filing is absent is filled from the restated comparative in the following filing, and is marked as such. Operating indicators outside the statements, such as order backlogs, and audit opinions are not covered here, and per-share figures follow the filed values without retroactive adjustment for share splits.

Transcribed verbatim from the sentences the filer wrote in the fiscal {year} business report (received {date}), with tables, figures and cross-references to other sections omitted.

The newest annual filing shown was received on 2026.03.19.

Audit opinion

Fiscal yearOpinionAuditorFiscal year end
2025적정의견Term 25대주회계법인2025-12-31
2024적정의견Term 24삼일회계법인2025-12-31
2023적정의견Term 23삼일회계법인2025-12-31
2022적정Term 22삼일회계법인2022-12-31
2021적정Term 21안진회계법인2022-12-31
2020적정Term 20안진회계법인2022-12-31
2019적정Term 19안진회계법인2019-12-31
2018적정Term 18안진회계법인2019-12-31
2017적정Term 17안진회계법인2019-12-31
2016적정Term 16안진회계법인2016-12-31
2015적정Term 15안진회계법인2016-12-31
2014적정Term 14안진회계법인2016-12-31

The auditor's name and the opinion are transcribed verbatim from the filed audit report, and the wording follows the filer. A fiscal year shown twice means the filing carried two entries that the source does not distinguish.

Korean audit opinions come in four kinds, where an unqualified opinion (적정) finds the statements fairly presented, a qualified opinion (한정) does so except for a stated matter, an adverse opinion (부적정) finds them not fairly presented, and a disclaimer of opinion (의견거절) means the auditor could not obtain enough evidence to form a view.

Valuation

Valuation multiplesx

PER and PBR divide each period's closing price by the per-share figure filed for that same period, and a loss period is left blank. The quarterly view is a multiple of quarterly EPS.

Dividend historyKRW

The dividend-per-share bars are restated onto the current share basis for splits and par-value changes. The payout ratio and the dividend yield divide figures filed for the same period and are left unadjusted.

Payout ratio and dividend yield%

PER bandKRW

The price is the adjusted close and each band line multiplies the EPS of the latest completed fiscal year by a fixed multiple. The previous year's EPS stays in force until the next fiscal year ends, and the multiples divide the range between the lowest and highest annual PER on record into equal steps.

Valuation models

Five models priced under one set of assumptions, set beside the current price, with how each has moved by fiscal year.

Assumptions

Risk-free rate10-year treasury yield · 2026-10-084.40%
BetaDaily 5Y1.01
%
%
Cost of equity9.45%
Weighted average cost of capital9.10%
Initial growth8.5%
Effective tax rate18.0%
Base fiscal year2025
Current priceKRW50,700

The risk premium and the terminal growth rate are adjustable assumptions, and the rest follow from the data and the formulas.

ModelModel priceKRWVersus current price
Gordon growth model958-98.1%
Dividend discount model DDM1,108-97.8%
Discounted cash flow FCFF12,568-75.2%
Discounted cash flow FCFEBase-year cash flow not positive
Residual income model RIM6,109-87.9%
The table prices the newest fiscal year's accounts at today's treasury yield and the current price.

Dividend and residual income familyKRW

Discounted cash flow familyKRW

Each fiscal year's figures use that year's accounts and the treasury yield at its period end, with beta held at its current value, and splits or par changes are restated to the current share basis.

How the figures are calculated

Each model's formula is shown in symbols and then with this issue's own numbers substituted, step by step. Changing a value in the assumptions panel changes the numbers here too. Firm-level amounts are in hundred million won and per-share values in won.

Cost of equity

r=rf+β×ERPr = r_f + \beta \times \mathit{ERP}

r = 4.40% + 1.01 × 5.00% = 9.45%

Initial growth

g1=max⁡{ROE×(1−payout), 0},gt=g1+(gT−g1) t−1N−1g_1 = \max\{\mathit{ROE} \times (1 - \text{payout}),\,0\},\qquad g_t = g_1 + (g_T - g_1)\,\frac{t-1}{N-1}

g_1 = max(9.56% × (1 − 10.99%), 0) = 8.51%

Growth starts at this value in the first year and falls by equal steps each year to reach the terminal rate in the fifth

Gordon growth model

P0=D0 (1+gT)r−gTP_0 = \frac{D_0\,(1 + g_T)}{r - g_T}

P_0 = 70 × (1 + 2.00%) / (9.45% − 2.00%) = 71 / 0.0745 = 958 KRW

Dividend discount model DDM

P0=∑t=1NDt(1+r)t+DN(1+gT)(r−gT) (1+r)N,Dt=Dt−1(1+gt)P_0 = \sum_{t=1}^{N} \frac{D_t}{(1+r)^t} + \frac{D_N (1+g_T)}{(r - g_T)\,(1+r)^N},\qquad D_t = D_{t-1}(1+g_t)

D_0 = 70, g_1 = 8.51%, g_T = 2.00%, r = 9.45%

YearGrowthDividend KRWDiscount factorPresent value KRW
18.51%760.913669
26.88%810.834768
35.25%850.762665
43.63%890.696762
52.00%900.636557
Terminal value2.00%1,2360.6365787
Total1,108

P_0 = 1,108 KRW

Residual income model RIM

P0=B0+∑t=1NRIt(1+r)t+RIN(1+gT)(r−gT) (1+r)N,RIt=(ROE−r) Bt−1P_0 = B_0 + \sum_{t=1}^{N} \frac{\mathit{RI}_t}{(1+r)^t} + \frac{\mathit{RI}_N (1+g_T)}{(r - g_T)\,(1+r)^N},\qquad \mathit{RI}_t = (\mathit{ROE} - r)\,B_{t-1}

B_0 = 6,007 KRW, ROE = 9.56%, payout ratio = 10.99%, r = 9.45%, g_T = 2.00%

YearOpening book valueEarningsEquity chargeResidual incomeDiscount factorPresent value
16,00757456860.91366
26,51962361670.83476
37,07367666970.76266
47,67573472680.69675
58,32879678790.63655
Terminal value1170.636574

P_0 = 6,007 + 28 + 74 = 6,109 KRW

Discounted cash flow FCFF

FCFF0=CFO−CapEx+Int (1−τ),WACC=ED+E r+DD+E kd (1−τ)\mathit{FCFF}_0 = \mathit{CFO} - \mathit{CapEx} + \mathit{Int}\,(1-\tau),\qquad \mathit{WACC} = \frac{E}{D+E}\,r + \frac{D}{D+E}\,k_d\,(1-\tau)

Base-year cash flow FCFF

FCFF_0 = 1,749.2 − 1,429.1 + 730.8 × (1 − 18.05%) = 919.0 KRW hundred million

Weighted average cost of capital

E = 33,653.7, D = 7,894.2 KRW hundred million; equity weight = 81.00%, debt weight = 19.00%; cost of debt k_d = 9.26%

WACC = 81.00% × 9.45% + 19.00% × 9.26% × (1 − 18.05%) = 9.10%

Vfirm=∑t=1NFCFFt(1+WACC)t+FCFFN(1+gT)(WACC−gT) (1+WACC)N,FCFFt=FCFFt−1(1+gt),P0=Vfirm−D+CashSharesV_{\text{firm}} = \sum_{t=1}^{N} \frac{\mathit{FCFF}_t}{(1+\mathit{WACC})^t} + \frac{\mathit{FCFF}_N (1+g_T)}{(\mathit{WACC} - g_T)\,(1+\mathit{WACC})^N},\qquad \mathit{FCFF}_t = \mathit{FCFF}_{t-1}(1+g_t),\qquad P_0 = \frac{V_{\text{firm}} - D + \text{Cash}}{\text{Shares}}
YearGrowthCash flow KRW hundred millionDiscount factorPresent value KRW hundred million
18.51%997.20.9166914.0
26.88%1,065.80.8401895.4
35.25%1,121.70.7701863.8
43.63%1,162.40.7058820.5
52.00%1,185.70.6470767.1
Terminal value2.00%17,033.80.647011,020.2
Total15,280.9

Firm value = 15,280.9; less borrowings 7,894.2; plus cash 955.9 → 8,342.6 KRW hundred million

P_0 = 8,342.6 KRW hundred million ÷ 66,378,151 (shares) = 12,568 KRW

The cost of equity is the risk-free rate plus beta times the equity risk premium. Initial growth is the newest fiscal year's return on equity times its retention ratio, floored at zero, and falls by equal steps from that value in the first year to the terminal rate in the fifth. Only the Gordon model grows at the terminal rate from the start. Discounted cash flow starts from operating cash flow less capital expenditure, where FCFF adds after-tax interest paid and discounts at the weighted average cost of capital, and FCFE adds net borrowing and discounts at the cost of equity. The residual income model adds to book value per share the present value of earnings above the equity charge.

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