Seoul: Hanon Systems Co., a South Korean auto parts manufacturer, reported a net loss of 334.4 billion won (US$231 million) for 2024, marking a significant shift from a profit of 58.9 billion won in the previous year.
According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating profit for the year decreased by 52.6 percent compared to the previous year, totaling 134.3 billion won. Despite this decline in profitability, Hanon Systems saw an increase in annual revenue, which rose by 5.2 percent to reach 10.01 trillion won.