Hana Materials

The National Pension Service (NPS) reported reducing its stake from 5.00% to 3.71%, selling 255,162 shares via on-market transactions on May 29, 2026. Total holdings declined from 989,244 to 734,082 shares out of 19,777,674 voting shares outstanding. The filing is a simple/abbreviated report, indicating the purpose remains general investment with no intent to influence management control. NPS dropping below the 5% threshold removes its status as a major shareholder requiring detailed reporting, and the supply overhang from a large institutional seller may pressure the stock near-term.

Hana Micron, the largest shareholder of Hana Materials, filed an amended large-holding report following a small on-market sale by a related party. Total holdings decreased by 5,000 shares, lowering the combined ownership stake from 44.87% to 44.84% (a 0.03 percentage point decline). The reporting entity and its seven specially related parties (executives and affiliates) collectively still hold 8,957,208 shares. The change was driven by an on-market sale by a specially related party, with the purpose maintained as 'influence over management.' Major contract-related holdings remain unchanged at 4,924,241 shares (24.66%).

Managing Director Kang Dong-ho, a registered executive at the company since November 2021, reported the complete disposal of his entire 5,000-share holding (0.03% stake) through open-market sales on May 27-28, 2026. Shares were sold at an average price of KRW 85,727, with 1,206 shares sold at KRW 83,000 on May 27 and the remaining 3,794 shares at KRW 86,593 on May 28. His ownership ratio dropped from 0.03% to 0.00%, leaving him with zero shares. While the absolute size is small and unlikely to move the stock materially, full insider exits can carry a mildly negative signaling effect.

Hana Micron Inc., the largest shareholder of Hana Materials, filed an amended large shareholding report triggered by a modification to its stock-backed loan agreement. Total shares held remain unchanged at 8,962,208 shares (44.87% of voting shares). The material change is a reduction in shares subject to the major contract (pledged shares) from 5,091,254 (25.49%) to 4,924,241 (24.66%), a decrease of 167,013 shares. This likely reflects a partial reduction in collateral scope, possibly due to partial loan repayment or restructured pledge terms. There is no change in overall shareholding or corporate governance posture.

The largest shareholder, Hana Micron, amended its previously disclosed stock pledge agreement that could trigger a change in control if fully executed. Key changes include extending Contract #1 (NH Investment & Securities) by six months to November 16, 2026, and replacing Contract #2 with a new KB Securities pledge that reduces pledged shares from 423,819 to 256,806 while keeping the KRW 10 billion collateral amount unchanged. Total shares that would transfer if all pledges are executed rose slightly to 1,462,495 (7.39% stake), while cumulative pledged shares decreased to 4,966,013. The underlying credit support for Hana Micron Vina's USD 200 million loan was also restructured, switching lenders from KDB/Eximbank to Citibank N.A. and others, with Hana Materials' guarantee reduced from USD 240 million to USD 200 million. Overall, this is a routine refinancing/extension rather than new borrowing.

Hana Materials filed its 20th-period quarterly report covering January 1 to March 31, 2026. The company remains a mid-sized enterprise manufacturing silicon and silicon carbide (SiC) electrodes and rings used as consumable parts in semiconductor etching processes, with two non-listed consolidated subsidiaries unchanged from the prior period. The credit rating from eCredible was reaffirmed at BBB on March 24, 2026, holding steady since the 2024 downgrade from BBB+. At the March 23, 2026 AGM, Kang Dong-ho was newly appointed as an inside director and Choi Sun-jip as a new outside director, while inside director Choi Wang-ki was reappointed; inside director Kim Soon-young and outside director Jung Yong-joo retired upon term expiry. CEO Kim Hyun-joo continues to lead the board.

The National Pension Service (NPS), Korea's largest institutional investor, filed a simplified large shareholding report disclosing a reduction of its stake in Hana Materials from 6.11% (1,209,334 shares) to 5.00% (989,244 shares), a net decrease of 220,090 shares. The transactions occurred on April 9 and April 15, 2026 via open-market trades, with the holding purpose stated as 'general investment' (non-control). NPS sold 232,159 shares on April 9 before adding back 12,069 shares on April 15, bringing the stake to exactly the 5.00% disclosure threshold. The reduction to precisely 5% is notable as it places NPS at the regulatory threshold, suggesting further selling may not require additional disclosure under the simplified reporting regime. Hana Materials is a KOSDAQ-listed semiconductor materials supplier, and NPS trimming exposure can be read as a mild negative signal for the stock.