NC& Co앤씨앤

NC& Co's shares have fallen sharply over the past year while its filings show continued losses and a change in control under way.

NC& Co (092600, KOSDAQ) makes dashcams and image-processing chips, with the subsidiary NextChip working on automotive chips. For the twelve months to H1 2026 it reported revenue of about ₩64.2B, an operating loss of about ₩1.2B and a net loss of about ₩7.8B, with the share price at ₩1,686 on 2026-10-27, down 45.1% over one year. Recent filings point to a change of largest shareholder and a change of management control agreement, but the data does not explain the terms or the company's plans.

What stands out

• Revenue has been broadly stable in the ₩45B to ₩90B range since 2021, but the company has reported an operating loss in each year since 2022 and in the trailing period.
• Net losses were large relative to revenue in 2024 (about ₩10.7B) and 2025 (about ₩11.7B), and the trailing net margin is -12.1%.
• Free cash flow is negative at about -₩2.5B, and borrowings of ₩9.1B exceed cash of ₩1.4B.
• The share price has fallen about 43% in one month and 38% in three months, with a 52-week range of ₩1,565 to about ₩9,735.
• Filings in September and October 2026 include a change of largest shareholder, a change of management control agreement, a major management matter, a third-party allotment rights offering, delisting-related notices and a shareholders' meeting notice; the data does not give details of these.

What to watch

• Details of the management control change and the new largest shareholder, which are not in the data provided.
• The outcome of the shareholders' meeting and any further filings on the rights offering or delisting-related matters.
• Whether the company can reduce losses and manage its ₩9.1B of borrowings, as the data shows no forecasts or analyst views.