SI Resources에스아이리소스

SI Resources is in deep losses and faces serious listing and disclosure problems, with its shares down about 67% over the past year.

SI Resources, a KOSDAQ-listed chemicals company, reported trailing twelve-month revenue of about ₩26.3B but an operating loss of about ₩3.4B and a net loss of about ₩3.3B for the period to H1 2026. The share price closed at ₩940 on 16 October 2026, far below its 52-week high of ₩3,880, and the company's filings now include a trading halt and a planned designation as an unfaithful disclosure company. The company profile and recent news headlines were not provided in the data.

What stands out

• Revenue has grown strongly in recent years, from ₩4.7B in 2022 to ₩20.9B in 2025, but operating losses have persisted every year since 2022 and the TTM operating margin is -13.1%.
• Free cash flow for the trailing period was about -₩6.4B, and the filings list cash of only ₩217K in the data with no borrowings figure reported.
• Liabilities are 112.5% of equity and the trailing return on equity is -40.8%.
• Foreign ownership fell from 10.2% about 60 days ago to 0% now.
• Valuation metrics are low on book value (P/B 0.9) but earnings-based metrics are not meaningful given the losses; no dividend is paid.

What to watch

• The company's response to the planned unfaithful disclosure designation and the outcome of the substantive review of listing eligibility, which the filings say is under way.
• The resumption of trading after the 15 October trading halt and any further exchange notices.
• Any amended or restated filings, including the amended half-year report and the amended major contract filing, and the outcome of the shareholders' meeting matters from September.