[TRANSLATION NOTE: Business description relies on company name and public information, as detailed segment breakdown is not provided in the filing data]
HL Mando is a Korean automotive parts manufacturer operating as a Tier-1 supplier. Based on its consolidated financial reporting structure and revenue scale (KRW 8.8 trillion in 2024), the company operates in the global automotive components sector, likely focused on steering, suspension, and braking systems. The company reports under consolidated financial statements, indicating multiple subsidiaries and a multi-geographic operational footprint.
HL Mando demonstrates consistent revenue growth with 2024 sales reaching KRW 8,848 billion, up 5.4% from KRW 8,393 billion in 2023, and up 17.7% from KRW 7,516 billion in 2022. Operating profit improved significantly to KRW 359 billion in 2024 (4.1% margin) from KRW 279 billion in 2023 (3.3% margin), showing meaningful operational leverage.
Net income reached KRW 158 billion in 2024, modestly up from KRW 155 billion in 2023, but substantially above KRW 118 billion in 2022. The net margin remains thin at approximately 1.8%.
Total debt levels are rising: total liabilities increased to KRW 4,379 billion at end-2024 from KRW 3,931 billion in 2023 and KRW 3,572 billion in 2022. The debt-to-equity ratio stands at approximately 1.64x (total liabilities/total equity of KRW 2,673 billion), indicating relatively high leverage. Total assets grew 12.2% year-over-year to KRW 7,052 billion, suggesting capital-intensive expansion, with non-current assets at KRW 3,375 billion.
Retained earnings increased to KRW 1,237 billion from KRW 1,153 billion, showing profit retention despite leverage pressures.
[TRANSLATION NOTE: Ownership details not provided in the submitted filing data]
The filing data provided does not include the shareholder composition, controlling shareholder information, or foreign ownership percentage. Paid-in capital stands at KRW 46.96 billion (unchanged across three years), but detailed ownership breakdown is not available in this dataset.
Leverage Risk: With a debt-to-equity ratio of 1.64x and total liabilities exceeding KRW 4.3 trillion, the company faces significant financial leverage in a capital-intensive industry subject to cyclical automotive demand volatility and rising interest rate exposure.
Margin Pressure: Despite revenue growth, net profit margins remain compressed at ~1.8%, indicating limited pricing power and high operating leverage. Any disruption in volume, raw material cost increases, or customer price-down requests could quickly erode profitability.
HL Mando offers exposure to growing automotive production with improving operating leverage (margins expanding from 3.3% to 4.1%), but investors must weigh this against elevated financial leverage (1.64x debt/equity) and persistently thin net margins that leave little room for operational or macro headwinds.
⚠️ This profile is AI-generated from DART filings. Quantitative data is reliable. Qualitative summaries should be verified against original Korean filings for investment decisions.