Chokwang Paint조광페인트

Chokwang Paint is loss-making and heavily indebted, with its shares down sharply over the past year.

Chokwang Paint, a Korean paint and coatings maker, reported trailing twelve-month revenue of ₩205.8B to H1 2026 but an operating loss of ₩20.9B and a net loss of ₩13.4B. Borrowings of ₩134.9B exceed its ₩13.2B of cash, and the shares closed at ₩3,065, near the 52-week low of ₩3,020 and far below the high of ₩6,250.

What stands out

• Revenue has fallen for two years running, from ₩260.5B in 2022 to ₩202.7B in 2025, and the company has posted operating losses in 2025 and in the trailing period.
• The 2024 profit of ₩16.0B was well above operating income of ₩2.4B, so it does not reflect a steady earnings base; the data does not explain the gap.
• Liabilities are 113% of equity and trailing free cash flow is negative at about ₩4.6B.
• The stated dividend yield is 6.5%, but the data does not show the dividend amount or whether it is covered by earnings, which are negative.
• Recent filings include treasury share sale decisions, early acquisition of exchangeable bonds and a share acquisition in another company, but the data gives no detail on their size or terms. No news headlines were available.

What to watch

• The next quarterly or annual results, to see whether operating losses narrow and revenue stabilises.
• Progress on the early exchangeable bond acquisitions and treasury share sales, and how they affect the balance sheet and share count.
• Debt levels relative to cash, since borrowings are about ten times cash on the reported figures.