SANGBOCo상보

SANGBOCo's trailing results remain deeply loss-making, with revenue falling and borrowings high relative to cash.

SANGBOCo makes window films for vehicles and buildings and paint-protection films, mostly sold abroad. Trailing twelve-month revenue to H1 2026 was ₩41.8B, with an operating loss of ₩12.7B and a net loss of ₩14.1B. The shares closed at ₩1,642 on 2026-10-16, down 65% over one year, and the data includes no analyst ratings or forecasts.

What stands out

• Revenue has fallen for several years, from ₩133.5B in 2021 to ₩50.1B in 2025, and the trailing figure is ₩41.8B.
• Operating margin was -30.4% on a trailing basis, against -17.8% in 2025 and a small positive margin in 2021 to 2023.
• Borrowings of ₩33.6B exceed cash of ₩6.6B, and liabilities are 127.4% of equity.
• Trailing free cash flow was negative at about -₩9.2B, and the company paid no dividend.
• Filings in September and October 2026 were mainly insider and 5%+ shareholding reports, plus an executive trading plan report; the data includes no news headlines.

What to watch

• The next periodic results and whether losses narrow from the trailing H1 2026 level.
• Ability to service ₩33.6B of borrowings given negative operating and free cash flow.
• Progress in new businesses named in the profile, such as barrier films for quantum-dot displays and electronic shelf labels; the data gives no detail on their size or timing.