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🔴 SK Hynix Books a ₩3.98T Derivative Loss — But It’s Not a Cash Loss SK Hynix reported a ₩3.98 trillion accounting loss in H1 2026 tied to exchangeable bonds issued in April 2023. The trigger? Bondholders exercised their exchange rights as SK Hynix shares surged. But here’s the important part: → No actual cash outflow from the derivative loss → Treasury-share disposal gains largely offset the accounting impact → The loss mainly reflects mark-to-market accounting as the stock price climbed In other words, the headline looks huge, but the economic impact is far less dramatic. Strong stock performance can create strange accounting numbers. $SKHY $SKHYNIX