매출 하락 → 마진 압박 → 현금 악화
Critical매출이 -95.3% 감소하며 영업이익률이 -11.7%에서 -329.4%로 하락했다. 영업현금흐름도 동반 감소하여 수익-현금 순환이 약화되고 있다.
Evidence
매출 YoY -95.3% (2023→2024)영업이익률 -11.7%→-329.4%영업CF -4,244→-18,406
Hanchang
005110 · KOSPI₩112-91.07%
2026-10-02 closeHanchang last closed at ₩112 (-91.07%) on 2026-10-02. Signals today: Death cross. Listed on KOSPI; price, financials and dividends update daily after market close.
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데드크로스 · 0d 전
New high + volume — the real recordrecord · not a prediction
Last 30 sessions
167 picks
Next-day win rate
55.1%
Avg next-day
+0.30%
vs market
+0.14%p
Every new-high-plus-volume pick we actually published (Korea market) — not this stock alone.
Trade plan
Fill entry, stop, account size and risk percent to get a share count. The stop must sit below the entry.
A calculator · not advice or a guarantee
Financials & valuation at a glance
Past reported results · not investment advice
More — deeper indicators
Financial safety
Reference indicatorAs of 2024Distress zoneFinancial-metric reference signal
Altman Z'' zoneZ'' -8.29
Distress
Grey
Safe
- Altman Z''
- -8.29
- Beneish M-Score
- 5.49
- Sloan accrual
- 3.04%
Statistical manipulation-risk signal
부실·조작 위험을 나타내는 사실 지표입니다. 투자 조언이 아니며, 검증 전이라 참고용입니다.
Factual information, not investment advice.
Why has this company moved this way?
Auditable observations with the original numeric evidence.
Factual information, not investment advice.
Earnings quality · Piotroski F-Score
1/9Weak
Piotroski measures year-over-year financial improvement, not absolute quality.
Financial improvement score1/9
Profitability
- Positive ROANot passed
- Positive OCFNot passed
- Improving ΔROAPass
- Accruals (OCF > net income)Not passed
Leverage & liquidity
- Lower debtNot passed
- Higher current ratioNot passed
- No new sharesNot passed
Efficiency
- Higher gross marginNot passed
- Higher asset turnoverNot passed
Calculation note: F7(신주)은 equity/asset 유지로 근사
Already-stable companies may score lower when year-over-year improvement is limited.
Factual information, not investment advice.
Forensic signals
Anomaly and structural signals observed in the financial statements.
Revenue qualityDanger
매출 흑자인데 영업CF 적자 (OCF/매출 -596%). 통계적 정황 신호이며 회계부정 단정이 아닙니다.
Balance sheetDanger
자본잠식 — 자본총계가 마이너스입니다. 부실 위험을 나타내는 사실 지표입니다.
Margin trendWarning
영업이익률 악화 (-11.7% → -329.4%, -317.7%p). 통계적 정황 신호이며 회계부정 단정이 아닙니다.
Margin trendWarning
영업외손익 급변 (영업이익 대비 121% 규모 변동) — 일회성 손익 주의. 통계적 정황 신호이며 회계부정 단정이 아닙니다.
Factual information, not investment advice.
Risk sensitivity — adverse assumptions
Metric changes under stated assumptions; not a forecast or investment advice.
Base metrics
- Operating margin
- -329.4%
- Interest coverage
- -15.4x
- Return on equity (ROE)
- —
Operating margin −5pp
Operating lossInterest coverageBase -15.4x adverse case -15.7x
Return on equity (ROE)Base — adverse case —
Revenue −15%
Interest coverage riskInterest coverageBase -15.4x adverse case -13.1x
Return on equity (ROE)Base — adverse case —
Interest rate +2pp
Interest coverage riskInterest coverageBase -15.4x adverse case -4.5x
Return on equity (ROE)Base — adverse case —
Interest coverage limit
Already below the limit by 350.7ppInterest coverage limit at an operating margin of 21.4%
Interest expense coverage threshold
Recent filings
Hanchang's latest filings on Korea's DART. Open a headline for a reference summary and the original.
Source: DART (Korea electronic disclosure)
About Hanchang
- What technical signals does Hanchang (005110) have?
- Hanchang current technical signals: death cross (50_200, 0d ago).
- Is Hanchang a cup-and-handle pattern?
- No. Hanchang has no valid cup-and-handle signal right now.
- What are Hanchang's financials and valuation?
- Hanchang's income statement, balance sheet and cash flow are free for the most recent 8 years; the full history is on Pro. PER/PBR, dividend yield and sector valuation bands are free.
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