CSA CosmicCSA 코스믹

CSA Cosmic's losses have deepened sharply, and the shares have fallen about 82% over the past year.

CSA Cosmic, a South Korean cosmetics maker that outsources manufacturing, reported trailing twelve-month revenue of ₩29.4B and an operating loss of ₩10.2B to H1 2026. Revenue has fallen for three straight years, and the company is carrying more debt than cash. Its filings show a rights offering and a share consolidation in progress, which the data does not explain in detail.

What stands out

• Trailing revenue fell from ₩60.3B in 2021 to ₩27.9B in 2025, and the company has posted operating losses in each year since 2022.
• Trailing free cash flow was negative at about -₩7.0B, and borrowings of ₩13.9B exceed cash of ₩6.5B.
• Liabilities are about 123% of equity, and trailing return on equity is -29.1%.
• Recent filings include a rights offering decision (October 16), a share consolidation decision (September 29) and a convertible bond issue decision, which was amended on September 30.
• Foreign ownership fell from 0.3% to 0%, and the 20-day flows show foreign and institutional net selling alongside net retail buying.
• The only recent news item in the data is a product launch of 'Slice Serum' on Amazon US and YesStyle, reported by Money Today.

What to watch

• Terms and results of the rights offering and the convertible bond, including how much new capital is raised and the dilution it causes.
• Details of the share consolidation and the shareholders' meeting, which the data does not describe.
• Whether revenue and operating losses stabilise in upcoming results, given the negative free cash flow and the debt load.