Iljin Holdings일진홀딩스

Iljin Holdings shows a sharp swing to a trailing net loss despite higher revenue, and the shares have fallen over the past month.

Iljin Holdings is a Korean holding company whose listed business centres on hydrogen storage tanks and emissions reduction devices. Trailing twelve-month revenue to H1 2026 was ₩2.48T with operating income of ₩208B, but the company posted a net loss of ₩23B, and return on equity is negative at -4.2%. The shares closed at ₩6,340 on 28 October 2026, a market value of about ₩313B, well below the 52-week high of ₩15,430.

What stands out

• Revenue grew strongly in 2025 (26.8%) to ₩2.28T, and trailing revenue to H1 2026 is higher still at ₩2.48T.
• Operating margin improved to 8.4% on a trailing basis, up from 6.4% in 2025, but net income swung to a loss of ₩23B, so the bottom line weakened.
• Liabilities are 97.4% of equity, with borrowings of ₩210B against cash of ₩329B.
• The company's own fair value model gives a base value of ₩17,590 (bear ₩11,727, bull ₩24,626), but this is an internal estimate and not a forecast; the shares trade well below the base case.
• Recent filings include a buyback trust contract (August 2026), a value-up plan (April 2026), and a share sale in another company, while the data contains no news headlines.

What to watch

• The next quarterly and annual results, to see whether the trailing net loss persists or reverses.
• Further filings on the buyback trust, collateral provided for a third party, and the share sale in another company.
• Foreign ownership has eased from 8.6% to 8.3% over 60 days, and the shares fell 10.6% over one month; the data does not explain the cause.