HPSP (403870)
에이치피에스피 · KOSDAQ · High-pressure annealing equipment
KOSDAQ · Price as of · Delayed Quote · Converted at ₩1342 per dollar
- Code403870
- ExchangeKOSDAQ
- Korean name에이치피에스피
- Quoted inKorean won
- US listingNone
- Analysts8
- Implied upside+35.6%
- Target range₩63,000 to ₩85,000
- Target in dollars$53.82
Reported fundamentals
There is no stock score on this page. The score is computed from audited XBRL filings on SEC EDGAR and includes a 20-point insider component built from Form 4s, and a Korean company files neither, so a grade here would be measuring something different from the same letter on a US hub. These are the reported figures instead.
| Revenue | ₩173.0B ($128.8M) | -4.7% against the prior year |
| Net income | ₩72.7B ($54.1M) | 42.0% net margin |
| Capital spending | ₩2.4B | 1.4% of revenue |
| Shares outstanding | 81,267,280 | +0.1% 2022 to 2025, dilution |
| Cash | ₩212.8B ($158.5M) | Current ratio 3.4 |
| Total debt | ₩2.0B ($1.5M) | Debt to equity 0.6 |
| Forward P/E | 25.9 | On analyst estimates, not on reported earnings |
HPSP closed at ₩53,300 on Sep 11, up 37.9% since Aug 12. Daily closes on the KOSDAQ, in won. Source: Yahoo Finance.
What HPSP does
HPSP makes high-pressure hydrogen annealing equipment. The tool repairs defects at the boundary between silicon and the insulating layer above it, using hydrogen at high pressure and a relatively low temperature. Doing it at low temperature is the point: advanced logic and memory structures cannot survive the heat an older anneal step required.
The company's position is unusually narrow and unusually strong. It sells essentially one product category into a step that has no widely adopted alternative, which has given it a near monopoly and margins that look more like a software company's than an equipment maker's. The risk sits in the same sentence as the opportunity. A single product line means a single point of failure if a competing approach qualifies, and the customer list is short enough that one delayed order moves a quarter.
HPSP has no US listing. Buying the shares means buying the Seoul line, which most US brokerage accounts cannot do directly.
HPSP coverage
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Frequently asked questions
What is HPSP's stock code?
HPSP trades on the KOSDAQ in Seoul under the code 403870. Data providers usually write it as 403870.KQ. The company has no US listing, so the Seoul line is the only place the shares trade.
Why is HPSP an AI stock?
HPSP makes high-pressure hydrogen annealing equipment. The tool repairs defects at the boundary between silicon and the insulating layer above it, using hydrogen at high pressure and a relatively low temperature. Doing it at low temperature is the point: advanced logic and memory structures cannot survive the heat an older anneal step required.
What do analysts expect for HPSP?
8 analysts covering HPSP have an average price target of ₩72,250 (about $53.82), which is +35.6% against the last close. Coverage of Korean listings is overwhelmingly domestic, so these are Korean brokerage estimates rather than the US sell-side names that cover an American chip stock.
Does HPSP file with the SEC?
No. HPSP is a Korean company listed in Seoul, so it reports to the Korea Exchange and the Financial Supervisory Service, not the SEC. That is why this page has no filings, Form 4 insider or congressional trading sections: those are built from EDGAR, which has nothing on a company that does not file there.