Hanall Biopharma Co., Ltd. (009420) AI Stock Analysis

Hanall Biopharma Co., Ltd.

(Korea Exchange:009420)

Select Model

Rating:44Neutral

Price Target:KRW 37,103.00▼(-1.06% Downside)

Action:initiatedcoverage

Date:10/28/26

The score is primarily driven by weakened financial performance: despite strong multi-year revenue growth, the company has swung into losses and is currently burning cash (negative operating and free cash flow). Technicals add further pressure with the stock in a pronounced downtrend below all major moving averages, even though it appears oversold. Valuation is constrained by a negative P/E tied to losses, with no dividend yield data to offset risk.

Positive Factors

Revenue GrowthRevenue expansion of roughly 2.3x since 2021 indicates meaningful commercial progress and broader business scale. If the company can convert this established top-line growth into sustainable profitability, its larger revenue base could support stronger operating leverage and future investment.

Negative Factors

Persistent LossesThe shift from profits to losses across 2024–2025, alongside a TTM net margin near -15%, signals that revenue growth is not currently translating into earnings. Continued losses can weaken retained capital, limit self-funded investment, and increase dependence on operational improvement.

Hanall Biopharma Co., Ltd. (009420) vs. SPDR S&P 500 ETF (SPY)

Market Cap: KRW 1.91T
Dividend Yield: ―
Average Volume (3M): 268.64K
Price to Earnings (P/E): -87.3
Beta (1Y): 0.45
Revenue Growth: 5.00%
EPS Growth: -1062.27%
Country: KR
Employees: 315
Sector: General
Sector Strength: 55
Industry: Medical - Pharmaceuticals

Hanall Biopharma Co., Ltd. Business Overview & Revenue Model

Company Description

HANALL BIOPHARMA Co., Ltd. engages in the manufacture and sale of synthetic drug and biopharmaceuticals. It offers products such as medicine for digestion, high blood pressure, cerebrovascular disease, myocardial infarction, anti-diabetics, antibioti...

Hanall Biopharma Co., Ltd. Financial Statement Overview

Summary

Revenue has grown strongly versus 2021, but profitability has deteriorated into losses in 2024–2025 with a deeply negative TTM net margin (~-15%). Cash generation is a major weakness with negative operating cash flow in 2025 and slightly negative in TTM, and negative free cash flow in multiple years including TTM. The balance sheet is a relative support (moderate leverage, sizeable equity), but rising debt and negative returns increase execution risk.

Income Statement

42Neutral

Balance Sheet

66Positive

Cash Flow

34Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	162.66B	155.18B	138.94B	134.91B	110.00B	101.59B
Gross Profit	84.71B	79.10B	73.31B	75.04B	61.97B	60.33B
EBITDA	-13.54B	1.94B	3.35B	6.58B	5.05B	11.45B
Net Income	-24.90B	-5.56B	-1.80B	3.51B	251.47M	8.90B
Balance Sheet
Total Assets	240.51B	225.22B	212.88B	239.75B	213.45B	198.48B
Cash, Cash Equivalents and Short-Term Investments	30.20B	24.74B	24.71B	56.50B	53.93B	80.57B
Total Debt	44.99B	31.92B	1.45B	1.29B	1.31B	1.34B
Total Liabilities	78.89B	63.54B	44.53B	53.53B	45.19B	34.99B
Stockholders Equity	161.63B	161.68B	168.35B	186.22B	168.26B	163.49B
Cash Flow
Free Cash Flow	-5.40B	-3.29B	-13.71B	20.45B	17.53B	-8.16B
Operating Cash Flow	-1.24B	-2.34B	9.36B	29.64B	25.20B	839.87M
Investing Cash Flow	-14.55B	-18.83B	-27.49B	-11.89B	-10.59B	8.03B
Financing Cash Flow	45.57B	29.57B	759.59M	-813.51M	-10.64B	-306.53M

Hanall Biopharma Co., Ltd. Technical Analysis

Technical Analysis SentimentNegative

Last Price37500.00

Price Trends

50DMA48924.00Negative

100DMA51185.50Negative

200DMA51749.75Negative

Market Momentum

MACD-2860.98Positive

RSI29.96Positive

STOCH10.63Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KR:009420, the sentiment is Negative. The current price of 37500.00 is below the 20-day moving average (MA) of 41982.50, below the 50-day MA of 48924.00, and below the 200-day MA of 51749.75, indicating a bearish trend. The MACD of -2860.98 indicates Positive momentum. The RSI at 29.96 is Positive, neither overbought nor oversold. The STOCH value of 10.63 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KR:009420.

Hanall Biopharma Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

KR:009420 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KR:185750	57Neutral	KRW 831.41B	10.46	―	0.79%	7.15%	29.88%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
KR:006280	54Neutral	KRW 1.49T	-29.78	―	1.15%	9.73%	-167.75%
KR:068760	54Neutral	KRW 1.59T	130.86	―	0.42%	13.88%	29.24%
KR:009420	44Neutral	KRW 1.90T	-87.32	―	―	5.00%	-1062.27%
KR:302440	43Neutral	KRW 2.57T	-30.71	―	―	23.25%	-58.35%

* General Sector Average

Performance Comparison

KR:009420 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
KR:009420	Hanall Biopharma Co., Ltd.	37500.00	-1850.00	-4.70%
KR:006280	GC Biopharma Corp.	130200.00	798.34	0.62%
KR:068760	Celltrion Pharm Inc.	36650.00	-26478.69	-41.94%
KR:185750	Chong Kun Dang Pharmaceutical Corp.	63100.00	-19812.28	-23.90%
KR:226950	OliX Pharmaceuticals, Inc.	94000.00	-20000.00	-17.54%
KR:302440	SK bioscience Co.,Ltd.	32750.00	-18050.00	-35.53%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 28, 2026

Hanall Biopharma Co., Ltd. AI Stock Analysis