KR MotorsKR모터스

KR Motors is still loss-making at the operating line, but its H1 2026 net income was positive, driven by non-operating items, and it is in heavy restructuring.

KR Motors, a Korean motorcycle and scooter maker, reported trailing twelve-month revenue of ₩35.2B to H1 2026 with an operating loss of ₩2.1B and a net profit of ₩28.4B. Its 2025 full-year revenue fell 13.8% to ₩13.8B, and it carries borrowings of ₩61.8B against cash of ₩8.0B. The data does not explain what drove the net profit, and the company is currently restructuring, including selling a plant and changing its name.

What stands out

• Operating income was negative in every year from 2021 to H1 2026, and the trailing operating margin is -6%, while the net margin of 80.7% is far above it, which suggests one-off or non-operating gains; the filings in the data do not break this down.
• Revenue has shrunk sharply, from ₩133.5B in 2021 to ₩13.8B in 2025, and 2024 revenue fell 79.6%.
• Liabilities are 134.1% of equity and trailing free cash flow was -₩5.5B, so the balance sheet is stretched.
• The share price is ₩1,132, up 10.1% over one month but down 55.8% over one year, with a 52-week range of ₩930 to ₩2,830.
• Recent filings and news include a Changwon plant sale and equipment transfer, a production halt for two-wheelers, and a name change to 'Dynamac' reported on 27 October 2026.
• Foreign ownership fell from 29% to 25.2% over 60 days, while retail investors were net buyers over the last 20 days.

What to watch

• Whether the H1 2026 net profit is repeated in later filings, and what the one-off items were, since operating results remain negative.
• Progress of the plant sale, debt repayment and the two-wheeler production halt, and the effect on revenue.
• The planned shareholder meeting and the convertible bond buyback decisions disclosed in recent filings, and their effect on the share count and debt.