S Polytech에스폴리텍

S Polytech is loss-making on a trailing basis after a weak 2025 and a first half of 2026 still in the red, though the shares trade near book value.

S Polytech, a KOSDAQ-listed maker of PC and PMMA sheets and films, reported trailing revenue of about ₩71.1B with an operating loss of about ₩0.7B and a net loss of about ₩1.0B for the period to H1 2026. Revenue fell 16.7% in 2025 after a profitable 2024, and the company has negative free cash flow of about ₩6.3B on the trailing figures. The share price is ₩1,224, roughly 0.3 times book, with no dividend and no earnings-based valuation available.

What stands out

• Trailing revenue is about ₩71.1B, with operating margin of -1.0% and net margin of -1.4%.
• 2025 was a sharp reversal: net loss of about ₩8.8B against a net profit of about ₩5.0B in 2024.
• Cash of about ₩20.0B sits against borrowings of about ₩38.7B, and liabilities are 84.5% of equity.
• Foreign ownership fell from 4.6% to 1.9% over the last 60 days, while the 20-day flows show retail and institutional net selling.
• Shares are up 15.8% over three months but down 24.1% over one year, and sit well below the 52-week high of ₩2,120.
• Filings in August 2026 include a share buyback decision and a half-year report, and July included two exchange inquiries about a news report or price move.

What to watch

• Whether the share buyback decision is carried out and how it is funded given the trailing losses and debt.
• Next quarterly results and whether operating income turns positive, since the data shows no forecasts.
• Exchange inquiries and any follow-up filings; the data includes no news headlines to explain the July price moves.