Chinyang Chemical진양화학

Chinyang Chemical is loss-making at the operating level over the past year, though it posted a small net profit on a trailing basis.

Chinyang Chemical makes PVC artificial leather for car seats and interiors, plus tarpaulin fabric, selling mainly to domestic auto suppliers. Revenue fell again in 2025 and trailing revenue through H1 2026 is about ₩19.0B, with operating income still negative at about -₩0.5B. The shares closed at ₩1,738 on 2026-10-20, down 48.4% over one year and well below the 52-week high of ₩3,515.

What stands out

• Revenue fell 24.3% in 2025 to about ₩18.6B, continuing a multi-year decline from ₩34.8B in 2021.
• Operating margin is negative (-2.8% trailing), though trailing net income of about ₩0.5B is positive, so the net profit is not coming from core operations according to the data given.
• Valuation metrics are mixed: P/E is 78.7 on trailing figures and P/B is 0.9, and the dividend yield is 0%.
• Cash of about ₩1.5B is shown with no borrowings listed, but trailing free cash flow is negative at about -₩0.6B.
• Recent filings in August and September 2026 include a share buyback decision, an Investment Caution Notice, and several largest-shareholder and insider holding reports.

What to watch

• The next filed results and whether operating income moves back into positive territory.
• The Investment Caution Notice dated 2026-08-26, which the data does not explain in detail.
• Ongoing changes in largest-shareholder holdings and the share buyback, as filed; the news feed contains no headlines for the period.