Cheongbo청보

Cheongbo is a small auto parts maker with thin operating profits, heavy losses, and a share price that has fallen sharply over the past year.

Cheongbo makes cast and machined engine and powertrain parts for commercial vehicle, construction equipment and farm machinery makers. For the first half of 2026, trailing revenue was about ₩26.8B with a small operating profit of about ₩0.7B, but a net loss of about ₩13.2B left it with negative returns on equity. The shares closed at ₩2,230 on 27 October 2026, with a market value of about ₩27.1B, after falling 48.8% over one year.

What stands out

• Trailing first-half 2026 operating margin was 2.6%, but net margin was -49.3%, so non-operating items and financing costs weighed heavily on the bottom line.
• Borrowings of about ₩25.3B exceed cash of about ₩9.8B, and liabilities are 59.4% of equity.
• Annual revenue was roughly flat in 2025 (up 1.9%) after a 22% drop in 2024, and net losses have been recorded in every year shown from 2021 to 2025.
• Price-to-book is about 0.5, below peers, while the company pays no dividend; the price-to-earnings ratio is not meaningful because of the losses.
• Recent filings include a convertible bond issue (7th round), a capital reduction, trading halts, and a sale of shares in another company, but the news feed contains no headlines for the period.

What to watch

• Whether the convertible bond issue and its eventual conversion affect the share count and balance sheet, as detailed in the filings.
• The next periodic results and whether the company returns to net profit, given the large losses so far.
• Customer demand from construction equipment and commercial vehicle makers, which the profile identifies as its main markets; the data does not give outlook figures.