Chinyang Poly Urethane진양폴리

Chinyang Poly Urethane's shares have rebounded sharply over three months, but earnings have shrunk and debt is high.

The company makes polyurethane foam used in bedding, furniture, shoes and car interiors, with most sales in Korea and a plant in Pyeongtaek. Trailing twelve-month revenue is about ₩51.0B with operating income of ₩3.1B, and 2025 revenue fell 13.7% from the year before. Borrowings are about ₩48.7B against a liabilities-to-equity ratio of 132.4%, and free cash flow over the period was negative at about -₩34.1B.

What stands out

• The share price closed at ₩2,260 on 27 October 2026, up 36.1% over three months but down 39.3% over one year and well below its 52-week high of about ₩3,956.
• Operating margin has fallen from 9.1% in 2021 to 3.9% in 2025, and the trailing figure is 6.1%.
• Trailing net income of about ₩2.9B is lower than the 2024 level, and ROE is 7.5%.
• Valuation metrics are low at a P/E of 12.9 and P/B of 0.8, with a stated dividend yield of 5.7%, but the data gives no analyst views to weigh these against.
• Foreign ownership fell from 3.1% to 1.7% over the last 60 days, while the 20-day flows show foreign investors net sellers.

What to watch

• Free cash flow and debt levels, given negative free cash flow and borrowings near ₩48.7B.
• Recent filings include a share buyback decision, an investment caution notice, and an amended filing on a tangible asset acquisition; the data does not explain their details.
• The data contains no news headlines and no upcoming results date, so the next earnings timing is not available.