ᥱυgᥱᥒιᥱ⋆EN⁷˖ִ ࣪☾.⋆♱.⋆

𓂃˖˳·˖ ִֶָ ⋆𝐸𝓃𝒽𝓎𝓅𝑒𝓃 𝒾𝓈 𝟩⋆ ִֶָ˖·˳˖𓂃 ִֶָ☾.

[ᥱυgᥱᥒιᥱ⋆EN⁷˖ִ ࣪☾.⋆♱.⋆ @Engene24365]

@hams_starr Let's goo!!

ENGENEs will maintain a financial boycott against HYBE indefinitely until the company begins treating ENHYPEN better, proper rest is given to them and the sevEN can reunite.

엔진은 공정함을 요구합니다.
#EN_MISTREATMENT_UNacceptable
#BOYCOTT_BELIFT_FOR_OUR_SEVEN

[ᥱυgᥱᥒιᥱ⋆EN⁷˖ִ ࣪☾.⋆♱.⋆ @Engene24365]

@EPIPEN_7 Tobey Maguire!

엔진은 공정함을 요구합니다.
#EN_MISTREATMENT_UNacceptable
#BOYCOTT_BELIFT_FOR_OUR_SEVEN

[✦ ENVOICE @ENVOICEs]

✦︎ - SECOND WAVE is here ENGENEs, let's keep being loud!

📌 TAGGING GUIDELINES:
• Keep your post focused, avoid adding unrelated or extra hashtags that could dilute our main tags.
• Add different emojis, numbers, or unique text to your posts so identical copy pastes don't get flagged as spam.
• Position the official hashtags at the very end of your post.
• Boost visibility by Reposting and Quote posts that carry the campaign tags.

◇◇◇◇

ENGENEs will maintain a financial boycott against HYBE indefinitely until the company begins treating ENHYPEN better, proper rest is given to them and the sevEN can reunite.

엔진은 공정함을 요구합니다. #EN_MISTREATMENT_UNacceptable #BOYCOTT_BELIFT_FOR_OUR_SEVEN

[ᥱυgᥱᥒιᥱ⋆EN⁷˖ִ ࣪☾.⋆♱.⋆ @Engene24365]

@Seven_enhaX ‼️‼️
ENGENEs will maintain a financial boycott against HYBE indefinitely until the company begins treating ENHYPEN better, proper rest is given to them and the sevEN can reunite.

엔진은 공정함을 요구합니다.
#EN_MISTREATMENT_UNacceptable
#BOYCOTT_BELIFT_FOR_OUR_SEVEN

[ᥱυgᥱᥒιᥱ⋆EN⁷˖ִ ࣪☾.⋆♱.⋆ @Engene24365]

@shraa_zblue ENGENEs will maintain a financial boycott against HYBE indefinitely until the company begins treating ENHYPEN better, proper rest is given to them and the sevEN can reunite.

엔진은 공정함을 요구합니다.
#EN_MISTREATMENT_UNacceptable
#BOYCOTT_BELIFT_FOR_OUR_SEVEN

[ᥱυgᥱᥒιᥱ⋆EN⁷˖ִ ࣪☾.⋆♱.⋆ @Engene24365]

@jngwonism_ 🤍‼️
ENGENEs will maintain a financial boycott against HYBE indefinitely until the company begins treating ENHYPEN better, proper rest is given to them and the sevEN can reunite.

엔진은 공정함을 요구합니다.
#EN_MISTREATMENT_UNacceptable
#BOYCOTT_BELIFT_FOR_OUR_SEVEN

[ᥱυgᥱᥒιᥱ⋆EN⁷˖ִ ࣪☾.⋆♱.⋆ @Engene24365]

@makijayleclerc 🤍🤍
ENGENEs will maintain a financial boycott against HYBE indefinitely until the company begins treating ENHYPEN better, proper rest is given to them and the sevEN can reunite.

엔진은 공정함을 요구합니다.
#EN_MISTREATMENT_UNacceptable
#BOYCOTT_BELIFT_FOR_OUR_SEVEN

[ᥱυgᥱᥒιᥱ⋆EN⁷˖ִ ࣪☾.⋆♱.⋆ @Engene24365]

@imnotapuppy_7 🤍‼️
ENGENEs will maintain a financial boycott against HYBE indefinitely until the company begins treating ENHYPEN better, proper rest is given to them and the sevEN can reunite.

엔진은 공정함을 요구합니다.
#EN_MISTREATMENT_UNacceptable
#BOYCOTT_BELIFT_FOR_OUR_SEVEN

[✦ ENVOICE @ENVOICEs]

✦︎ — ENVOICE BRIEFING 006

D-3 — Q2 2026 Shareholders Meeting

We're continuing to prepare for the upcoming shareholder meeting.

⤷ Our mass tagging project directed at the company is ongoing.
⤷ Chapter 2 of our 2025 Annual Report analysis has now been published.

Every chapter brings more context to understand the company's structure, operations, and the topics surrounding this meeting.

If you haven't had the chance yet, catch up on the analysis, participate in the tagging efforts if you wish, and stay tuned as we continue covering the most relevant sections leading up to the meeting.

The more informed we are, the more meaningful the conversation becomes.

Thank you to everyone who's been reading, sharing, and supporting the project.

[ᥱυgᥱᥒιᥱ⋆EN⁷˖ִ ࣪☾.⋆♱.⋆ @Engene24365]

@MysevEN7luv ENGENEs will maintain a financial boycott against HYBE indefinitely until the company begins treating ENHYPEN better, proper rest is given to them and the sevEN can reunite.

엔진은 공정함을 요구합니다.
#EN_MISTREATMENT_UNacceptable
#BOYCOTT_BELIFT_FOR_OUR_SEVEN

[𝐧𝐲𝐱⁷𓂃۶ৎ⋆ @dddeonuuu_]

pages upon pages explaining strategies to increase profits, expand globally and strengthen the business, yet somehow the most obvious management issues are left unresolved.

if this is what leadership looks like, i don’t think shareholders, or consumers, should settle for “just trust us.”

$HYBE

[ᥱυgᥱᥒιᥱ⋆EN⁷˖ִ ࣪☾.⋆♱.⋆ @Engene24365]

@ENHYPENFANBASE_ ‼️‼️
ENGENEs will maintain a financial boycott against HYBE indefinitely until the company begins treating ENHYPEN better, proper rest is given to them and the sevEN can reunite.

엔진은 공정함을 요구합니다.
#EN_MISTREATMENT_UNacceptable
#BOYCOTT_BELIFT_FOR_OUR_SEVEN

[✦ ENVOICE @ENVOICEs]

✦︎ — ENVOICE CASE 004

HYBE 2025 ANNUAL REPORT
CHAPTER II: BUSINESS DESCRIPTION

After examining HYBE’s corporate structure in Chapter I, Chapter II explains how that structure operates in practice.

This chapter covers HYBE’s products and services, revenue and international sales trends, risk-management policies, contractual obligations, intellectual-property portfolio and stated plans for future growth.

★ BUSINESS OVERVIEW AND REVENUE TRENDS

HYBE mainly operates across three areas:
⤷ producing music and music-related content
⤷ developing platforms intended to strengthen engagement between fans and artists while expanding the reach of HYBE’s content
⤷ pursuing tech-driven future growth by incorporating new technologies into the entertainment industry.

Although HYBE’s total revenue increased between 2023 and 2025, its geographical sales distribution changed. Domestic sales declined, while sales across international markets generally increased, with Asia excluding Korea becoming the largest contributor to total sales in 2025.

Changes can also be observed in the percentage of total revenue generated by HYBE’s different products and services.

The figures show that the contribution of albums and digital music to total revenue decreased, both proportionally and in value. Meanwhile, revenue from performances such as concerts and fan meetings increased considerably. Revenue from merchandise and licensing, as well as fanclub and other activities, also increased.

The report additionally outlines the main financial risks faced by HYBE: market risk, credit risk and liquidity risk.
HYBE states that it manages these risks by monitoring interest rates, foreign-exchange exposure and the value of its investments; assessing the creditworthiness of its business partners and financial institutions; and comparing the maturity dates of its assets and liabilities with its expected operating cash flow.

The company has also entered into agreements involving put and call options connected to minority shares in some subsidiaries. Under certain agreed conditions, these options may allow minority shareholders to require HYBE to purchase their shares or allow HYBE to purchase the remaining minority interests.

Regarding the 20% minority stake in ADOR, HYBE stated that it had terminated the shareholders’ agreement and filed a lawsuit seeking confirmation of that termination. In February 2026, the court of first instance rejected HYBE’s claim and ordered payments connected to the minority shareholder’s share-sale claim. HYBE appealed, meaning the dispute was still ongoing at the time of the report.

The MBX crypto tokens acquired by the company were also subject to a four-year lock-up restriction. According to the report, this restriction was scheduled to be released gradually in equal monthly proportions until March 7, 2026.

★ FINANCIAL POSITION

At the end of 2025, the company reported a debt-to-equity ratio of 54.5%, compared with 55.9% at the end of 2024.

This represents a slight year-on-year decrease. However, this ratio alone is not enough to determine the company’s overall financial health, which must also be assessed through its profitability, cash flow and payment obligations.

★ OTHER DETAILS

The report describes the music industry as having relatively low formal barriers to entry, since artist development and music releases can begin with limited capital.

However, it argues that the infrastructure, funding and experience required to produce successful artists and expand internationally create much higher practical barriers. According to the report, consumer trust in previously successful artists and companies may also provide established businesses with a competitive advantage.

HYBE reported holding 5,143 registered intellectual-property rights across Korea and 38 other countries, including trademarks, designs and patents. An additional 1,167 applications were still under examination.

These protections give the company exclusive rights over its registered trademarks, designs and patents within their legal scope. They also support businesses involving artist-based merchandise, content and licensing. However, they should not be interpreted as giving HYBE unlimited rights over everything related to its artists.

HYBE is also required to comply with laws concerning copyright, artist management, youth protection, music distribution, performances and digital content.

These include rules preventing entertainment companies from using their position to impose unfair contractual conditions or obtain improper benefits, as well as requirements concerning separate accounting and the payment of contractual compensation to artists.

Because albums and merchandise use materials such as plastic CD cases, shrink wrap and packaging, HYBE and its Korean labels are also subject to waste charges and extended producer-responsibility requirements. The company states that it monitors its use of plastic and packaging materials and pays the required contributions.

★ FUTURE PLANS

HYBE states that it plans to continue developing artists through its multi-label structure and expanding this model across international markets.

The company also intends to combine music with technology through Weverse, gaming and Supertone’s AI and voice-based solutions. These businesses are presented as ways to broaden fan experiences and expand HYBE’s activities beyond traditional music production.

These are HYBE’s stated plans and expectations. Their effectiveness must be assessed through the financial performance of the businesses involved.

★ THE KEY POINT

Chapter II presents HYBE as an increasingly international entertainment company operating across music, platforms and technology.

Between 2023 and 2025, the company’s revenue mix changed. Albums and digital music accounted for a smaller share of revenue, while performances, merchandise and licensing became considerably more important.

The figures therefore show a shift in the composition of HYBE’s revenue. However, they do not independently prove that the company has deliberately moved away from album sales.

HYBE’s stated future strategy focuses on international expansion, its multi-label system and the use of platforms, games and AI-based technology to create additional forms of content and fan engagement.

🔗 Full Chapter II analysis:
https://t.co/LCMmogZHYu

📄 Official annual report:
https://t.co/JNYiY6h9uJ

For a quick overview, refer to the poster and for the complete analysis, read our Telegraph article.

Should you have any questions or need further clarification, feel free to contact us through replies or direct messages, and we will do our best to assist.

Stay tuned for more!

[ᥱυgᥱᥒιᥱ⋆EN⁷˖ִ ࣪☾.⋆♱.⋆ @Engene24365]

@makijayleclerc Both!!

ENGENEs will maintain a financial boycott against HYBE indefinitely until the company begins treating ENHYPEN better, proper rest is given to them and the sevEN can reunite.

엔진은 공정함을 요구합니다.
#EN_MISTREATMENT_UNacceptable
#BOYCOTT_BELIFT_FOR_OUR_SEVEN

[ᥱυgᥱᥒιᥱ⋆EN⁷˖ִ ࣪☾.⋆♱.⋆ @Engene24365]

@letthesuninbrae Let's goo! 🤍

ENGENEs will maintain a financial boycott against HYBE indefinitely until the company begins treating ENHYPEN better, proper rest is given to them and the sevEN can reunite.

엔진은 공정함을 요구합니다.
#EN_MISTREATMENT_UNacceptable
#BOYCOTT_BELIFT_FOR_OUR_SEVEN

[ᥱυgᥱᥒιᥱ⋆EN⁷˖ִ ࣪☾.⋆♱.⋆ @Engene24365]

@ENHYPEN7_BASE Let's goo ‼️

ENGENEs will maintain a financial boycott against HYBE indefinitely until the company begins treating ENHYPEN better, proper rest is given to them and the sevEN can reunite.

엔진은 공정함을 요구합니다.
#EN_MISTREATMENT_UNacceptable
#BOYCOTT_BELIFT_FOR_OUR_SEVEN

[ENHYPEN7_BASE @ENHYPEN7_BASE]

ENGENEs, it's 8 PM KST, time for 2nd wave! 🔉

Final push for DAY 1 of MASS TAGGING! Keep dropping tags and raising your voice against the company.

ENGENEs will maintain a financial boycott against HYBE indefinitely until the company begins treating ENHYPEN better, proper rest is given to them and the sevEN can reunite.

엔진은 공정함을 요구합니다.
#EN_MISTREATMENT_UNacceptable
#BOYCOTT_BELIFT_FOR_OUR_SEVEN

​📌 GUIDELINES FOR TAGS:
• Do NOT mix them with other hashtags or add extra tags, this might interfere with main ones.
• Include the tags at the end of your post.
• DO RT and QRT posts using the official tags to help the trend.

​📍DISCLAIMER:
​These hashtags are meant for X (Twitter) trending only.
​Do NOT spam these tags on Instagram, TikTok, Weverse, YouTube, or any other platform.
​Do NOT use them under official ENHYPEN, EVAN, BELIFT, or HYBE official posts.

[ᥱυgᥱᥒιᥱ⋆EN⁷˖ִ ࣪☾.⋆♱.⋆ @Engene24365]

@enhaengene_ot7 Ofcoursee 🤍

ENGENEs will maintain a financial boycott against HYBE indefinitely until the company begins treating ENHYPEN better, proper rest is given to them and the sevEN can reunite.

엔진은 공정함을 요구합니다.
#EN_MISTREATMENT_UNacceptable
#BOYCOTT_BELIFT_FOR_OUR_SEVEN

[ᥱυgᥱᥒιᥱ⋆EN⁷˖ִ ࣪☾.⋆♱.⋆ @Engene24365]

@Orbit36352S Ofcoursee!

ENGENEs will maintain a financial boycott against HYBE indefinitely until the company begins treating ENHYPEN better, proper rest is given to them and the sevEN can reunite.

엔진은 공정함을 요구합니다.
#EN_MISTREATMENT_UNacceptable
#BOYCOTT_BELIFT_FOR_OUR_SEVEN

[ᥱυgᥱᥒιᥱ⋆EN⁷˖ִ ࣪☾.⋆♱.⋆ @Engene24365]

@SakuraShai85730 Let's goo!!

ENGENEs will maintain a financial boycott against HYBE indefinitely until the company begins treating ENHYPEN better, proper rest is given to them and the sevEN can reunite.

엔진은 공정함을 요구합니다.
#EN_MISTREATMENT_UNacceptable
#BOYCOTT_BELIFT_FOR_OUR_SEVEN