Seoul Viosys서울바이오시스

Seoul Viosys shows a profitable first half of 2026 after heavy losses in 2022 and 2023, but shares have fallen 12.9% over the past month and the balance sheet carries significant debt.

Seoul Viosys, a Korean maker of LED and optical semiconductor chips, reported trailing twelve-month revenue of ₩810B and operating income of ₩35B as of the first half of 2026. Its 2025 full-year filings show a net loss of ₩15B, and free cash flow over the trailing period was negative at about -₩7B. The share price is ₩7,650, up 222.8% over one year but down 12.9% over one month.

What stands out

• Trailing revenue of ₩810B with a 4.3% operating margin and 2.1% net margin as of H1 2026, compared with a 0.5% operating margin in 2024 and deep losses in 2022 and 2023.
• 2025 net income was a loss of ₩15B even though operating income was roughly break-even at ₩0.2B, and the filings in the data do not explain the gap.
• Borrowings of ₩49B against cash of ₩7.6B, with liabilities at 280% of equity, indicate a leveraged balance sheet.
• Valuation is P/E 20.8 and P/B 3.5, with no dividend; peers such as DB HiTek trade at lower P/E multiples, though peer comparisons alone do not indicate value.
• The data contains no recent news headlines, no analyst ratings, and no foreign ownership or short-selling figures.

What to watch

• Full half-year 2026 report details and the preliminary earnings filing dated 2026-10-14, which the data lists but does not summarise.
• Whether free cash flow turns positive given the negative trailing figure and substantial borrowings.
• Share price volatility: the stock is near ₩7,650 against a 52-week high of ₩19,270.