3S Korea3S

3S Korea is loss-making on a trailing basis, with revenue down sharply in 2025 and the share price up 30% over three months but still down 26% over a year.

The company makes environmental test equipment for HVAC and appliance testing, plus automotive, battery and semiconductor wafer carriers. Trailing twelve-month revenue is about ₩24.7B, with an operating loss of about ₩6.1B and a net loss of about ₩10.6B as of Q1 2026. Cash of ₩11.6B exceeds borrowings of ₩2.7B, but free cash flow over the same period was negative at about ₩10.2B.

What stands out

• Revenue fell 33.4% in 2025 to about ₩29.0B after a ₩43.6B peak in 2024, and the company moved from a small operating profit to a loss of about ₩5.8B.
• The trailing net loss of about ₩10.6B is larger than the trailing operating loss, and the trailing net margin is -42.8%.
• Valuation metrics are mixed: price-to-book is 1.6 and price-to-sales is 2.9, but there is no meaningful price-to-earnings ratio because earnings are negative. The company pays no dividend.
• The share price closed at ₩1,345 on 21 Oct 2026, within a 52-week range of ₩831 to ₩1,978, and it rose 17.4% over one month.
• Recent filings include a shareholder meeting notice, a proxy document, a share consolidation decision, a conversion price adjustment and an amended major sales contract. No recent news headlines were provided.

What to watch

• The proxy solicitation and shareholder meeting, including the share consolidation decision, which the data does not explain in detail.
• The next quarterly report and whether losses and negative free cash flow narrow from the trailing figures.
• The conversion price adjustment and any further filings on convertible instruments, since the data does not show their size or terms.