Seoul Electronics & Telecom서울전자통신

Seoul Electronics & Telecom is loss-making at the operating line, with a rights offering and a change of control agreement in progress.

The company reported trailing twelve-month revenue of about ₩30.5B to H1 2026, an operating loss of about ₩3.0B and a small net profit of about ₩1.4B, with free cash flow of about -₩0.8B. Its share price closed at ₩1,699 on 2026-10-23, down 10.3% over one month but up 65.8% over one year, and it sits well above its listed 52-week low of ₩0 in the data, which looks like a data gap.

What stands out

• Revenue fell 5.8% in 2025 to about ₩33.7B, and the operating loss narrowed from about ₩2.2B in 2024 to about ₩1.6B, though 2025 net loss was about ₩5.3B.
• Trailing net profit is positive, but operating income is negative, so the reported profit is not coming from core operations according to the figures given.
• Borrowings of about ₩5.9B exceed cash of about ₩4.5B, and liabilities are 130.8% of equity.
• Valuation shows a P/E of 16.7 and P/B of 1.9, with no dividend, while peers such as LS Electric and Gaon Cable trade at much higher P/E multiples.
• Foreign ownership rose from 0.6% to 1.4% over about 60 days, while 20-day retail flows were net negative at about -₩295M.

What to watch

• Filings show a rights offering (paid-in capital increase), a small-scale public offering and a shareholders' meeting notice in progress, so dilution terms and meeting outcomes matter.
• A September 2026 filing reports an agreement on change of management control; the data does not give the terms or buyer.
• Whether operating losses continue in the next reported results, given negative free cash flow and debt above cash.