Hanul Semiconductor Withdraws Rights Offering... "Core MLCC and Growth Businesses to Continue"

Hanul Semiconductor has decided to withdraw its rights offering, which was being pursued through a general public offering of forfeited shares after allotment to existing shareholders. The decision was made because the review and correction process for the securities registration statement has been prolonged, resulting in changes to the funding schedule, business timeline, capital management conditions, and overall market environment. As a result, the company determined that there was an increased need to reconsider its original plan.

On September 30, Hanul Semiconductor announced its decision to withdraw from the planned rights offering. Since submitting the securities registration statement on April 15, the company has been continuously supplementing the main contents of the filing in response to the Financial Supervisory Service's requests for amendments.

However, as the review and correction process dragged on, changes occurred in the business environment compared to when the company had first decided on the rights offering. Accordingly, Hanul Semiconductor conducted a comprehensive review of its overall business environment and financial situation, including the priorities for investment in each business area and actual funding requirements.

As a result, the company concluded that it would be more beneficial for both Hanul Semiconductor and its shareholders to redesign its business plan and capital-raising methods in line with the changed management environment, rather than proceeding with the original rights offering plan.

Hanul Semiconductor emphasized that this withdrawal does not represent a downsizing of its existing businesses or new growth projects. In fact, the company plans to further strengthen its business in post-process inspection equipment and automation facilities for multilayer ceramic capacitors (MLCCs), which are expected to see rising demand in line with the expansion of high-growth sectors such as artificial intelligence (AI) servers, automotive electronics, and robotics.

The company will also continue the development of next-generation equipment, building on its existing supply of mounters and inspection devices to its customers. In addition, Hanul Semiconductor plans to sequentially advance core operations, such as the enhancement of AI-based inspection technology and the development of ultrasonic nondestructive testing technologies.

Funding necessary for future investments and operations will primarily be sourced from operating cash flow and existing reserves. However, the company will carefully consider business progress, investment priorities, and market conditions to determine the proper scale and method of capital raising as needed.

A company representative stated, "This withdrawal is not a decision to downsize our MLCC inspection equipment business. Given that changes have taken place between our initial plans and the current business environment during the prolonged review process, we believe it is necessary to redesign our capital allocation based on actual business demand and financial situation, rather than simply pushing ahead with the original plan."

The representative also added, "Separate from the withdrawal of the rights offering, we will continue to strengthen the competitiveness of our core MLCC post-process equipment business and to develop new inspection technologies. Going forward, we aim to enhance the efficiency of investment and capital management by maintaining a focus on our main operations while ensuring financial stability."

This content was produced with the assistance of AI translation services.