Hyosung Heavy Industries : Conclusion of Single SalesContract or Supply Contract
July 06, 2022 at 03:14 am EDT
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Conclusion of Single Sales Contract or Supply Contract
1. Type of sales or supply contract
Receipt of construction order
- Name of contract concluded
Construction contracting agreement for the
housing property development in the area of
98 Samseong-dong
2. Details of contract
Contract amount (KRW)
78,767,307,505
Sales of the latest fiscal year (KRW)
3,094,698,644,786
Ratio to sales (%)
2.55
Classified as a large-sized corporation?
Yes
3. Counterparty to contract
Housing property development project
association for the area of 98-1 Samseong-dong
- Relationship to company
-
4. Regions of sales or supply (markets served)
98-1 Samseong-dong, Gangnam-gu, Seoul,
and 7 lots
5. Contract period
Start date
-
End date
-
6. Terms and conditions of contract
-
7. Effective date of contract (receipt of orders)
2022-06-30
8. Withholding of disclosure
Reasons for withholding disclosure
-
Withholding period
-
9. Other matters to be factored into investment decisions
- This contract is one of contracting the construction of 3 apartment buildings
with 4 floors underground and 10 floors above the ground in Samsung-dong,
Gangnam-gu, Seoul.
- The "Contract amount" of "2. Details of contract" above includes the VATs of
KRW 3,127,697,859, and KRW 44,362,631,057 of the supply price of
KRW 75,639,609,646 (excluding the VATs) are tax free.
- The "Sales of the latest fiscal year" of "2. Details of contract" above is
based on the consolidated financial statements of Hyosung Heavy Industries
Corporation as of the end of 2021.
- The contract period is 28 months from the date of actual commencement of
construction.
- The contract amount and contract period above are subject to change during the
construction progress.
※ Related disclosure
-
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Hyosung Heavy Industries Corporation published this content on 06 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 July 2022 07:13:06 UTC.
Hyosung Heavy Industries Corporation is a Korea-based company mainly engaged in the production and sale of electrical equipments. The Company is involved in the manufacturing and sale of transmission and distribution equipments, motors, generators, and industrial machinery. The transmission and distribution equipments include ultra high voltage transformers, distribution input transformers, mold transformers and shunt reactors, among others. The company is engaged in the renewable energy business. It is engaged in the manufacturing and sale of renewable energy storage systems (ESS) and solar inverters, solar energy engineering procurement construction (EPC), and wind power generation. In addition, the Company is engaged in the provision of systems and engineering solutions, gear solutions and welding solutions, as well as construction business.