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Industry

Hanwha Solutions sells U.S. venture investment fund for $84.3 million to boost liquidity

Hanwha Solutions said on Wednesday it sold a venture investment fund that invested in U.S. innovative companies for $84.3 million. The company said it will use the proceeds to supplement funds for debt repayment created by the reduction in its rights issue and to bring forward plans to improve its financial structure. It also said it will quickly push ahead with 300 billion won of investor asset monetisation presented during the rights issue revision process.

Industry

Hanwha Solutions issues 300 billion won RCPS, securitises 340 billion won more AMPC

Hanwha Solutions is speeding up measures to fill a funding gap after cutting the size of its rights offering. The company said on Wednesday it issued 300 billion won worth of redeemable convertible preferred shares through its Qcells unit’s U.S. EPC business entity. It also recently securitised $220.3 million, or about 340 billion won, of advanced manufacturing production tax credits for 2025 and 2026, early-monetising the full amount received for 2025.

Games & Commerce

Musinsa posts Q1 operating profit of 19.0 billion won, up 8.2 percent on year

Musinsa said on Tuesday it posted first-quarter consolidated revenue of 363.6 billion won and operating profit of 19.0 billion won, with revenue up 24.1 percent and profit up 8.2 percent from a year earlier, its best-ever first-quarter result. On a standalone basis, it reported revenue of 335.0 billion won and operating profit of 27.5 billion won. It recorded a standalone net loss due to interest expenses from accounting for RCPS as liabilities.