Sungwooelectronicsco성우전자

Seongwoo Electronics has returned to a small trailing profit on higher revenue, but margins are thin and the shares sit near the low end of their 52-week range.

The company makes mobile device parts, camera actuator parts and automotive battery cases, with plants in Korea and Vietnam. Trailing twelve-month revenue is about ₩187B with operating income of ₩2.9B and net income of ₩9.4B, after losses in 2023 and 2024. The shares closed at ₩2,310, well below the 52-week high of ₩3,695.

What stands out

• Revenue rose 24.4% in 2025 to ₩183B, but operating margin was only 2.2% and the trailing operating margin is 1.5%.
• Trailing net income of ₩9.4B is much higher than operating income, so the profit figure may depend on non-operating items that the data does not explain.
• Cash of ₩14.4B against borrowings of ₩3.0B, with liabilities at 39.3% of equity, and trailing free cash flow of about ₩16.0B.
• The company pays no dividend, and the data shows a 0% dividend yield.
• Recent filings include a convertible bond acquisition, an unfaithful disclosure designation that was later reversed, and several 5%+ holding reports. The data does not explain the details of these filings.
• Valuation metrics are low, with a trailing P/E of 3.8 and P/B of 0.3, but the fair value model gives a base value of ₩2,244 and a bear value of 0, so the model output is unreliable.

What to watch

• The next half-year or annual results and whether operating margin improves from its thin level.
• A conversion price adjustment was filed on 2026-10-21; its effect on share count and dilution is not described in the data.
• Further disclosure matters and holding changes, given the recent unfaithful disclosure designation and convertible bond activity.