Kwang Myung Electric광명전기

Kwang Myung Electric is loss-making and its filings flag listing-eligibility review, with the share price down about 42% over the past year.

Trailing revenue is about ₩83B with an operating loss of about ₩12.3B and a net loss of about ₩58B for the twelve months to H1 2026, after losses in 2024 and 2025. The company has borrowings of about ₩33B against cash of about ₩12B, and the filings include an auditor's adverse opinion or disclaimer, or complete capital impairment, in the semi-annual review report.

What stands out

• Revenue fell from about ₩152.7B in 2023 to about ₩95.9B in 2025, and the trailing figure is lower still at about ₩83B.
• Operating income has been negative since 2023, and the trailing operating margin is -14.8%.
• Recent filings include a substantive review of listing eligibility, a submitted improvement plan, and a capital reduction decision.
• Two major sales or supply contracts were filed in September and October 2026, and one was later amended, but the data does not give their values.
• Price is ₩932 against a 52-week range of ₩839 to ₩1,747, and the data shows no dividend and no earnings-based valuation because earnings are negative.

What to watch

• Outcome of the listing-eligibility review and the company's improvement plan, as noted in recent market notices.
• Further amendments to the largest shareholder change filings and the capital reduction, which may affect the share count.
• Next periodic results and whether losses narrow relative to borrowings of about ₩33B.