Daiyang Metal대양금속

Daiyang Metal is a small stainless steel processor whose shares have fallen sharply over the past year, though it returned to a small profit on a trailing basis.

Daiyang Metal makes stainless steel cold-rolled sheet at its Yesan plant, buying hot coil from outside suppliers and selling mostly to home appliance, auto parts, construction and industrial customers, with over half of sales exported. Trailing twelve-month revenue is about ₩220B with a thin operating margin of 2.7% and net income of about ₩6.3B, after large losses in 2023 and 2024. The shares closed at ₩1,049 on 2026-10-16, down 31.9% over one year, with a market value of about ₩47B.

What stands out

• Trailing revenue is about ₩220B and operating income about ₩6.0B, a 2.7% operating margin, which is thin for a processor of this kind.
• Free cash flow over the trailing period was negative at about -₩854M, and the company holds about ₩11.4B in cash; borrowings are shown as not available in the data.
• Net income turned positive on a trailing basis at about ₩6.3B after a ₩15.3B loss in 2024 and a ₩35.3B loss in 2023.
• Valuation metrics look low (P/E 7.4, P/B 0.5) but the company pays no dividend, and the data does not include a fair value estimate.
• Foreign ownership fell from 2.3% to 0.7% over about 60 days, while recent filings include a change of largest shareholder, a bankruptcy petition dismissal and a notice of planned designation as an unfaithful disclosure company.

What to watch

• The planned designation as an unfaithful disclosure company, which the filings list as a notice of planned designation; the outcome is not in the data.
• The shareholders' meeting and record-date notices amended on 2026-10-13, and the change of largest shareholder filed on 2026-10-07.
• Convertible bond and warrant adjustments and the decision on early bond acquisition, which could affect share count and cash; full terms are not in the data.