Woosung우성

Woosung's shares have risen over the past year and three months, but its profits remain thin and filings show a merger and shareholder meeting underway.

Woosung is a Korean animal feed maker with three domestic plants and two overseas plants in Vietnam and China. Trailing twelve-month revenue is about ₩638B, but operating margin is just 2% and net margin 0.2%, and net income fell sharply from 2024 to 2025 and in the latest period. The company has a large cash balance of about ₩71B against borrowings of about ₩9B, while liabilities are 143% of equity.

What stands out

• Trailing revenue is about ₩638B, with operating income of about ₩13B and net income of about ₩1.4B as of H1 2026.
• Net income was ₩19.7B in 2024 but ₩12.9B in 2025, and the company posted a loss of ₩5.8B in 2021.
• The share price is ₩17,830, up 12.2% over three months and 5.8% over one year, but well below its 52-week high of ₩25,450.
• Recent filings include a merger decision, a trading halt, a treasury share sale decision, several debt guarantee decisions for another party, and a notice of shareholders' meeting dated October 14, 2026.
• Over the last 20 trading days, retail investors were net sellers of about ₩366M while foreign and institutional investors were net buyers; foreign ownership fell from 1.3% to 1.0% over 60 days.

What to watch

• The terms, timing and outcome of the merger and the shareholders' meeting, which the filings indicate are upcoming; the data does not state the merger details.
• Whether margins recover from the current 2% operating level, given the reported drop in net income.
• Details of the debt guarantees for another party, which the data does not explain in full.