Hana Must SPAC 2
SELVAS Healthcare, Inc. operates as a medical device company in South Korea. The company provides body composition analyzers and automatic blood pressure monitors for hospitals. It also offers Braille Sense notetakers and other products for blind and visually impaired people under the HIMS brand name, as well as provides digital health products under the ACCUNIQ brand name. In addition, The compa… Read more
Hana Must SPAC 2 (208370) - Net Assets
Latest net assets as of September 2025: ₩63.95 Billion KRW
Based on the latest financial reports, Hana Must SPAC 2 (208370) has net assets worth ₩63.95 Billion KRW as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₩70.83 Billion) and total liabilities (₩6.87 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₩63.95 Billion |
| % of Total Assets | 90.29% |
| Annual Growth Rate | 14.34% |
| 5-Year Change | 156.29% |
| 10-Year Change | N/A |
| Growth Volatility | 36.19 |
Hana Must SPAC 2 - Net Assets Trend (2015–2024)
This chart illustrates how Hana Must SPAC 2's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Hana Must SPAC 2 (2015–2024)
The table below shows the annual net assets of Hana Must SPAC 2 from 2015 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ₩63.80 Billion | +6.16% |
| 2023-12-31 | ₩60.10 Billion | +82.70% |
| 2022-12-31 | ₩32.89 Billion | +17.23% |
| 2021-12-31 | ₩28.06 Billion | +12.72% |
| 2020-12-31 | ₩24.89 Billion | +3.13% |
| 2019-12-31 | ₩24.14 Billion | +65.27% |
| 2018-12-31 | ₩14.60 Billion | -47.49% |
| 2017-12-31 | ₩27.81 Billion | +3.34% |
| 2016-12-31 | ₩26.92 Billion | +40.97% |
| 2015-12-31 | ₩19.09 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Hana Must SPAC 2's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 132.7% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | ₩12.87 Billion | 20.17% |
| Other Components | ₩56.89 Billion | 89.17% |
| Total Equity | ₩63.80 Billion | 100.00% |
Hana Must SPAC 2 Competitors by Market Cap
The table below lists competitors of Hana Must SPAC 2 ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Metrovacesa S.A
OTCGREY:MRVCF
|
$47.82 Million |
|
Linedata Services S.A.
PA:LIN
|
$47.86 Million |
|
Citra Borneo Utama
JK:CBUT
|
$47.87 Million |
|
Super Energy Corporation Public Company Limited
BK:SUPER
|
$47.87 Million |
|
Land General Bhd
KLSE:3174
|
$47.82 Million |
|
Fluent Inc
NASDAQ:FLNT
|
$47.80 Million |
|
ENIGMATIG LIMITED
NYSE MKT:EGG
|
$47.80 Million |
|
Sanix Incorporated
MU:NX8
|
$47.80 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Hana Must SPAC 2's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 60,096,936,640 to 63,800,621,520, a change of 3,703,684,880 (6.2%).
- Net income of 3,151,898,810 contributed positively to equity growth.
- Share repurchases of 199,920,000 reduced equity.
- New share issuances of 199,920,000 increased equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₩3.15 Billion | +4.94% |
| Share Repurchases | ₩199.92 Million | -0.31% |
| Share Issuances | ₩199.92 Million | +0.31% |
| Other Changes | ₩551.79 Million | +0.86% |
| Total Change | ₩- | 6.16% |
Book Value vs Market Value Analysis
This analysis compares Hana Must SPAC 2's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.82x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 2.12x to 1.82x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | ₩2132.31 | ₩4515.00 | x |
| 2017-12-31 | ₩2119.32 | ₩4515.00 | x |
| 2018-12-31 | ₩1112.82 | ₩4515.00 | x |
| 2019-12-31 | ₩1115.20 | ₩4515.00 | x |
| 2020-12-31 | ₩1149.41 | ₩4515.00 | x |
| 2021-12-31 | ₩1252.84 | ₩4515.00 | x |
| 2022-12-31 | ₩1468.68 | ₩4515.00 | x |
| 2023-12-31 | ₩2342.27 | ₩4515.00 | x |
| 2024-12-31 | ₩2480.82 | ₩4515.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Hana Must SPAC 2 utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 4.94%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.94%
- • Asset Turnover: 0.45x
- • Equity Multiplier: 1.10x
- Recent ROE (4.94%) is above the historical average (-17.51%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 0.87% | 0.80% | 0.44x | 2.47x | ₩-1.74 Billion |
| 2016 | -55.25% | -64.41% | 0.51x | 1.69x | ₩-17.56 Billion |
| 2017 | -4.01% | -3.77% | 0.54x | 1.97x | ₩-3.90 Billion |
| 2018 | -136.89% | -99.83% | 0.49x | 2.83x | ₩-21.45 Billion |
| 2019 | -13.79% | -14.89% | 0.47x | 1.95x | ₩-5.74 Billion |
| 2020 | 3.05% | 3.59% | 0.47x | 1.81x | ₩-1.73 Billion |
| 2021 | 8.81% | 8.50% | 0.59x | 1.75x | ₩-334.45 Million |
| 2022 | 8.55% | 10.16% | 0.61x | 1.37x | ₩-476.62 Million |
| 2023 | 8.60% | 17.34% | 0.45x | 1.11x | ₩-839.90 Million |
| 2024 | 4.94% | 9.94% | 0.45x | 1.10x | ₩-3.23 Billion |
Industry Comparison
This section compares Hana Must SPAC 2's net assets metrics with peer companies in the Medical Devices industry.
Industry Context
- Industry: Medical Devices
- Average net assets among peers: $98,321,642,752
- Average return on equity (ROE) among peers: 7.10%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Hana Must SPAC 2 (208370) | ₩63.95 Billion | 0.87% | 0.11x | $47.82 Million |
| Shinhung (004080) | $87.31 Billion | 3.50% | 0.52x | $10.80 Million |
| Osang Healthcare Co.,Ltd (036220) | $199.86 Billion | 20.34% | 0.25x | $37.44 Million |
| HansBiomed Corporation (042520) | $43.16 Billion | 11.38% | 0.21x | $246.58 Million |
| JVM Co. Ltd (054950) | $98.83 Billion | 10.23% | 0.72x | $117.37 Million |
| Huvitz Co. Ltd (065510) | $51.68 Billion | 16.97% | 0.32x | $43.64 Million |
| Vieworks Co. Ltd (100120) | $188.04 Billion | 17.80% | 0.28x | $101.54 Million |
| Corentec Co Ltd (104540) | $48.30 Billion | -3.04% | 0.46x | $40.80 Million |
| Hironic Co. Ltd (149980) | $40.72 Billion | 7.13% | 0.15x | $23.71 Million |
| Laseroptek Co., Ltd. (199550) | $-3.94 Billion | 0.00% | 0.00x | $21.68 Million |
| Humasis Co. Ltd (205470) | $229.26 Billion | -13.28% | 0.45x | $48.97 Million |