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HB Technology announced on July 11th that its new businesses, including inspection equipment for glass substrates and secondary batteries, are progressing well. The company clarified that the recent designation as a non-compliant disclosure company by the Korea Exchange, due to discrepancies between its internal settlement and audited report figures, was addressed through a correction announcement in March.

The company's entry into the glass substrate inspection equipment market, driven by its expertise in the display sector, is poised for significant growth due to increasing demand for glass substrates in the semiconductor industry.

The non-compliance notice stemmed from a significant difference in reported earnings, attributed to HB Investment's investment in HPSP through the "HB Semiconductor Secondary Investment Consortium." The consortium's investment in HPSP resulted in a large profit of over 500 billion won due to a surge in HPSP's stock price, initially classified as sales and operating profit. However, the external auditor reclassified it as non-operating income during the settlement audit process, leading to the discrepancy.

HB Technology addressed this issue with a correction announcement on March 18th, revising its revenue and profit structure by 30%. The company maintains that this was not intentional and was due to unexpected changes in the external auditor's criteria. They are committed to proactively explaining the situation to the Exchange to avoid being designated as a non-compliant disclosure company.

Editor：Lulu

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