Sebang Global Battery세방전지

Sebang Global Battery's trailing profit is steady but thinner than in 2024, and the stock sits well below its 52-week high.

Sebang Global Battery makes lead-acid batteries under the ROCKET brand and is building lithium battery modules and packs for vehicles and home energy storage. On trailing twelve months to H1 2026 it reported revenue of about ₩2.12T, operating income of ₩136B and net income of ₩142B, with a 6.7% net margin. At ₩60,700 the shares trade at about 5.9x earnings and 0.5x book, below the ₩77,700 52-week high.

What stands out

• Revenue rose 4% in 2025 to about ₩2.14T, but operating margin fell from 8.7% in 2024 to 7.2% and net income dropped from ₩169B to ₩141B.
• Trailing cash of ₩293B against ₩70B of borrowings, with free cash flow of about ₩280B, and liabilities at 43.4% of equity.
• The filings list a Rights offering (paid-in capital increase) decision and a share acquisition in another company, both amended in late July 2026; the data does not give their terms.
• Recent filings also include a Decision on Loan Extension (Sep 2026) and a Decision on Guarantee of Debt for Another Party (Aug 2026).
• The share price is up 13.7% over three months but down 3.5% over one year; no recent news headlines are included in the data.
• The model's DCF base value is ₩102,647 against the ₩60,700 close, but the bear case is ₩40,791 and the bull case ₩210,405, so the range is very wide.

What to watch

• The terms, size and timing of the rights offering and the acquisition of shares in another company, once full filings are available.
• The H1 2026 half-year report details on margin trends, since operating margin has declined from 2024 levels.
• Debt-related decisions in the filings (loan extension and guarantee for another party) and their effect on the ₩70B of borrowings.