Summary of Latest Developments in SK Hynix's ADR Listing in the United States (April 16, 2026) SK Hynix is fully committed to its June July ADR listing in the United States. Through a billion dollar new stock issuance, it aims to meet the huge demand for AI semiconductor investment and leverage the US capital market to achieve valuation reassessment and globalization. After going public, it will further consolidate its global position in AI memory fields such as HBM. 1. Core schedule Target listing window: June to July 2026 (specific internal timeline has been officially communicated to the underwriting team). Previously (last month), the company had secretly submitted an F-1 registration application to the US SEC, initially only stating that it would be listed within the year, but now locked in June and July, demonstrating its determination to complete it as soon as possible and expand its global financing base in the shortest possible time. Chairman Chey Tae won emphasized that the ADR listing will make SK Hynix "a more global company" and reach out to more American and global shareholders. Under the AI semiconductor super cycle, the company's cash reserves have reached nearly 35 trillion Korean won, but future capital expenditures will be huge: By the end of 2030, an investment of KRW 21.6 trillion (first factory) will be made in the Yongin Semiconductor Cluster, and with the investment announced in July 2024, the total amount will be approximately KRW 31 trillion. Long term plan to invest KRW 600 trillion by 2050 and operate four factories in Yongin. Earlier this year, it was announced to establish an AI solutions company in the United States with a maximum investment of $10 billion (approximately 15 trillion Korean won). In January, most of the inventory stocks (worth 12.24 trillion Korean won) have been cancelled, so only new shares can be issued, and large-scale issuance has become an inevitable choice. 4. Stock price and valuation situation On April 16th, the closing price was 1136000 Korean won (breaking through 1.1 million Korean won and setting a new historical high). Current valuation is low: Based on this year's profit forecast, the forward price to earnings ratio (PER) is only 3-4 times, far lower than its American counterparts Micron (8 times) and SanDisk (19 times). Even if the stock price fluctuates (previously affected by the US Iran conflict), the listing schedule will not change, demonstrating the company's firm determination to quickly enter the US market.