Corporate Logo(source: hd-marineengine.com)
HD Hyundai Marine Engine(071970) is seeing strong early gains, driven by news of a 1 billion won ship engine supply contract.
As of 9:35 AM on March 13, HD Hyundai Marine Engine was trading at 29,000 won, up 4% from the previous session. The stock briefly surged 9%, reaching 30,350 won at its peak in the early session.
In a public disclosure, HD Hyundai Marine Engine announced that it has signed a ship engine supply contract worth 1.034 trillion won with HD Hyundai Mipo(010620). This contract represents 42.2% of HD Hyundai Marine Engine's projected 2023 revenue. The contract is set to run until May 18, 2028.
Market outlook for the stock is also positive. Choi Kwang-sik, an analyst at Daol Investment & Securities, stated that “Revenue is expected to grow by 136% from 2024 to 2026 due to HD Hyundai Mipo's captive orders,” and that “there are additional growth prospects with synergies from parts collaboration with HD Korea Shipbuilding & Offshore Engineering(009540).” Choi set a target price of 45,000 won, with an annual order forecast of 900 billion won and revenue of 580 billion won for HD Hyundai Marine Engine this year.
*[KOSPI]HD-Hyundai Marine Engine(071970) engages in ship engine and engine parts businesses. Market capitalization is 939.6 billion won(as of March 12, 2025, closing price).
*[KOSPI]HD Hyundai Mipo(010620), a subsidiary of HD Korea Shipbuilding & Offshore Engineering is the world’s No. 1 shipbuilding company in the mid-sized ship field. The market capitalization stands at 4.0981 trillion won(as of March 12, 2025, closing price).
*[KOSPI]HD Korea Shipbuilding & Offshore Engineering(009540) engages in shipbuilding, offshore plant, engine machinery, and green energy businesses. Market capitalization is 15 trillion 39.3 billion won(as of March 12, 2025, closing price).
Corporate Logo(source: hd-marineengine.com)
HD Hyundai Marine Engine(071970) is seeing strong early gains, driven by news of a 1 billion won ship engine supply contract.
As of 9:35 AM on March 13, HD Hyundai Marine Engine was trading at 29,000 won, up 4% from the previous session. The stock briefly surged 9%, reaching 30,350 won at its peak in the early session.
In a public disclosure, HD Hyundai Marine Engine announced that it has signed a ship engine supply contract worth 1.034 trillion won with HD Hyundai Mipo(010620). This contract represents 42.2% of HD Hyundai Marine Engine's projected 2023 revenue. The contract is set to run until May 18, 2028.
Market outlook for the stock is also positive. Choi Kwang-sik, an analyst at Daol Investment & Securities, stated that “Revenue is expected to grow by 136% from 2024 to 2026 due to HD Hyundai Mipo's captive orders,” and that “there are additional growth prospects with synergies from parts collaboration with HD Korea Shipbuilding & Offshore Engineering(009540).” Choi set a target price of 45,000 won, with an annual order forecast of 900 billion won and revenue of 580 billion won for HD Hyundai Marine Engine this year.
*[KOSPI]HD-Hyundai Marine Engine(071970) engages in ship engine and engine parts businesses. Market capitalization is 939.6 billion won(as of March 12, 2025, closing price).
*[KOSPI]HD Hyundai Mipo(010620), a subsidiary of HD Korea Shipbuilding & Offshore Engineering is the world’s No. 1 shipbuilding company in the mid-sized ship field. The market capitalization stands at 4.0981 trillion won(as of March 12, 2025, closing price).
*[KOSPI]HD Korea Shipbuilding & Offshore Engineering(009540) engages in shipbuilding, offshore plant, engine machinery, and green energy businesses. Market capitalization is 15 trillion 39.3 billion won(as of March 12, 2025, closing price).