Chinhung International진흥기업

Chinhung International is loss-making on trailing results and its shares have fallen sharply over the past year.

Chinhung International is a Korean general construction contractor covering civil engineering, buildings and plant work. For the twelve months to H1 2026 it reported revenue of about ₩748B, an operating loss of about ₩12.8B and a net loss of about ₩12.6B, following a loss-making 2025. The shares closed at ₩6,000 on 2026-10-22, down 14.5% over one year.

What stands out

• Revenue has fallen from about ₩759B in 2023 to ₩576B in 2025, while operating income swung from ₩52B profit in 2023 to a ₩23B loss in 2025.
• Trailing free cash flow is negative at about -₩16.7B, and liabilities are about 122% of equity, against cash of about ₩81B and borrowings of about ₩13.4B.
• The DCF fair value model gives a base value of ₩15,577 per share, well above the ₩6,000 close, but the data gives only a bear case of ₩7,801 and a bull case of ₩27,831, and the model is not a forecast.
• Recent filings are mostly contract-related, including several amended major sales or supply contracts, plus a cash dividend decision on 2026-10-02, though the valuation shows a 0% dividend yield.
• No news headlines were included in the data, so the filings are the main source of recent company-specific information.

What to watch

• Upcoming full-year and interim results, and whether operating losses continue after H1 2026.
• Details of the cash dividend decision and any further amendments to the major contracts in the filings.
• Free cash flow and borrowings, given the negative trailing cash flow and high liabilities relative to equity.