Report

Hanwha Chemical (009830.KS)

- Earnings should remain upbeat in 2H led by PVC and caustic soda.

- PVC/caustic soda’s superior earnings visibility over PE/PP should help to expand basic materials

margins. Other businesses are also stabilizing or showing improvements.

Underlying
HANWHA SOLUTIONS CORPORATION

Hanwha Chemical is engaged in the manufacture, sale and export of petrochemical products, including Ethylene, Propylene, Benzene, LDPE, L-LDPE, HDPE, EVA, PP, 2-EH, EDC, ECH, VCM, Caustic Soda, Chlorine, Polyvinylchloride ("PVC"), PSR, Plasticizer, PVC processed products, film, sheet, DECO sheet, GMT sheet, EPP beads, floor covering, SCM, window profile, plastic door, and automotive parts.

Provider
Hyundai Motor Investment & Securities
Hyundai Motor Investment & Securities

Hyundai Motor Investment & Securities is the investment banking arm of the Hyundai Motor Group. The company offers stock brokerage and advisory services; derivative products brokerage and advisory services; wrap account portfolio management services; and VIP wealth management and tax planning, institutional equities, derivatives, and futures brokerage services, as well as sells investment and institutional products. It also provides equity offering, ABS, real estate PF and real estate PF securitization, offshore SOC, structured financing, asset securitization, real estate sales, IPO advisory, and private equity fund and fund management services; and CMA/RP portfolio management and fixed income based investments, as well as involved in the issuance, management, and brokerage of OTC derivatives. In addition, the company offers research services, including macro economic forecasts and stock market outlook, industry overviews and forecasts, fixed income strategies, corporate credit analysis, and valuation analysis. Further, it offers a range of retirement and pension services for individuals and corporate members; portfolios and asset allocation consulting and marketing services; proposing retirement pension plans; contract and payment management services; pension plan advisory and actuarial services; and system development and implementation services, as well as operates call centers for retirement pension services, etc. 

Analysts
Dongjin Kang

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