Hansol Chemical stock gets KRW 300,000 target on growth case

Published on 10/30/2026 at 01:49 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Shinhan Securities started coverage as semiconductor and battery-material demand supports Hansol Chemical. Currency and oil costs still limit margins.

Growth case and key constraints

Shinhan Securities linked Hansol Chemical's outlook to hydrogen peroxide, semiconductor materials and battery binders.
Higher hydrogen peroxide prices were partly offset by currency and oil-cost pressures.
The investment case depends on improving customer utilization and semiconductor-fab demand.

Han Sol, KR7014680003, Illustration mit AI erstellt.

Hansol Chemical stock has received a new research view from Shinhan Securities, which initiated coverage of the South Korean materials company on October 26, 2026. The brokerage set a target price of KRW 300,000 and argued that expanding hydrogen peroxide supply and new semiconductor-material products could support earnings. The report was published by The Asia Business Daily.

Demand drivers are broadening

Shinhan Securities forecast third-quarter revenue of KRW 248.1 billion and operating profit of KRW 50.3 billion. The analysts expect a recovery in customer utilization to lift hydrogen peroxide volumes, while continued precursor demand should support the semiconductor-materials business.

The brokerage projected next-year revenue of KRW 1.1463 trillion, up 16 percent year over year, and operating profit of KRW 218.8 billion, up 25 percent. It also expects domestic hydrogen peroxide sales volumes to rise by more than 20 percent as new semiconductor fabs come online. A planned 17,000-ton capacity expansion is intended to address additional demand from future facilities.

Profitability remains a watchpoint

The report said hydrogen peroxide prices had increased by 10 percent, but a stronger won and high oil prices limited the improvement in profitability. Hansol Chemical's outlook therefore depends not only on demand growth but also on the company's ability to convert higher volumes into sustainable margins.

Shinhan Securities also pointed to the expected start of hafnium-based high-k material supply and a projected 40 percent increase in high-margin secondary-battery binder sales. The analysts estimated an initial market share of 15 to 20 percent for the hafnium-based materials business, while noting that the earnings contribution will depend on customer adoption and production timing.