HLB (028300) Q2 2026 earnings summary

Executive summary

• Completed merger with HLB Science to consolidate R&D and optimize costs, with the surviving entity maintaining KOSDAQ listing and absorbing all business operations and assets of the dissolved entity.

• The company operates in healthcare, bio, composite materials, and media commerce, with a focus on global new drug development and diagnostics.

• Major restructuring included the physical spin-off of the shipbuilding business and ongoing expansion of the bio pipeline through acquisitions and licensing.

Financial highlights

• 2026 H1 consolidated revenue: KRW 46.7 billion; operating loss: KRW -45.7 billion; net loss: KRW -121.3 billion.

• Total assets at June 2026: KRW 908 billion; equity: KRW 422 billion; liabilities: KRW 486 billion.

• Gross margin for H1 2026: 46% (KRW 21.4 billion gross profit on KRW 46.7 billion revenue).

• R&D expenses for H1 2026: KRW 21.7 billion (46.6% of sales).

Outlook and guidance

• Focus on accelerating commercialization of key oncology assets, especially Rivoceranib and Lirafugratinib, with ongoing regulatory submissions in the US and Europe.

• Strategic intent to leverage merged R&D capabilities for pipeline expansion and cost synergies.