External broker reports(aggregated public sources), Daishin Securities

Daishin Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>1Q25 consolidated revenue projected at W397.5bn (-1.5% YoY), with OP of W58.8bn (-23.4% YoY)</li><li>While flagship product growth remains solid, Hanmi’s 1Q earnings look set to fall short of consensus on a high base at Beijing Hanmi</li><li>All eyes on the upcoming presentation at the American Diabetes Association (ADA) in June and Beijing Hanmi’s earnings recovery in 2H25</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

1Q25 consolidated revenue projected at W397.5bn (-1.5% YoY), with OP of W58.8bn (-23.4% YoY)While flagship product growth remains solid, Hanmi’s 1Q earnings look set to fall short of consensus on a high base at Beijing HanmiAll eyes on the upcoming presentation at the American Diabetes Association (ADA) in June and Beijing Hanmi’s earnings recovery in 2H25Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hanmi Pharm

Hanmi Pharma (128940 KS Apr 15, 2025)