Shin HWA DynamicsSHD

Shin HWA Dynamics has swung to a thin profit on collapsing revenue, while its shares have fallen about 79% over the past year and the data flags delisting and investment caution notices.

The company makes tin-plated steel sheet used mainly for metal cans, and nearly all of its sales come from that one product. Trailing results to H1 2026 show revenue of about ₩100.8B, operating income of only ₩0.6B and net income of ₩1.4B, with a 0.6% operating margin. The share price is ₩3,925, down 78.9% over one year, and recent filings include two delisting-related notices and an investment caution notice.

What stands out

• Trailing operating margin is 0.6%, far below the 11.3% reached in 2022, and 2024 showed an operating loss of about ₩4.0B.
• Trailing free cash flow is negative at about ₩3.0B, while the company holds cash of ₩13.7B against borrowings of ₩16.9B.
• Liabilities are 59.1% of equity, and trailing ROE is 2.6%.
• Filings in September and October 2026 include two Delisting notices and two Other Market Notices, and an Investment Caution Notice was filed in June 2026.
• The data shows a fair value model estimate of ₩16,470 on a base case, but the bear case is zero and the bull case is ₩58,170, so the range is very wide.
• No news headlines are included in the data.

What to watch

• Whether the delisting-related filings from September 2026 lead to a formal decision, which the data does not describe.
• The next quarterly or annual results, to see whether operating income stays positive and free cash flow improves.
• The status of the August 2026 share buyback decision and its amendment, which the data does not detail.