Mirae Asset Vision Special Purpose Acquisition 9미래에셋비전스팩9호

Mirae Asset Vision SPAC 9 is a shell company with no operating business and no merger target yet, so its near-term outcome depends on a future deal.

This is a special purpose acquisition company listed on KOSDAQ since December 2025 whose only purpose is to merge with a private firm. The filings show a small operating loss and a small net profit for the first half of 2026, with no revenue reported, and it has not yet named a merger target. The share price closed at ₩1,986, well below its 52-week high of ₩5,900 and close to its low of ₩1,952.

What stands out

• The company reports no revenue, and its trailing operating loss is about ₩20.4M, while net income is about ₩0.3M.
• Market capitalisation is about ₩10.9B on 5.5M listed shares, with an enterprise value of about ₩641M and cash of about ₩82M.
• Reported borrowings are ₩1.5B, which is large relative to the company's cash and the market value of its equity.
• The trailing P/E of about 38,000x and P/B of 1.0x reflect almost no earnings rather than a meaningful valuation; no fair value model is provided.
• Filings in 2026 include several 5%+ holding reports, and the half-year report for June 2026 was filed on 14 August.
• Foreign ownership is 0.7% and unchanged over 60 days, and short balance is 0%; recent 20-day flows show retail net selling of about ₩118M.

What to watch

• Any announcement naming a merger target, which the company's profile says it has not yet selected.
• The next quarterly or half-year filings, to see whether the operating loss and borrowings change.
• Further 5%+ holding reports, which could signal shifts in major shareholdings.