SDNSDN

SDN is a small KOSDAQ company whose shares have fallen sharply over the past year, with a thin near-break-even trailing profit and a net loss.

SDN runs a solar power systems business and a marine engine and boat distribution business. On trailing figures to H1 2026 it reported revenue of about ₩95.4B, a small operating profit of about ₩0.6B, and a net loss of about ₩0.7B, with borrowings of about ₩13.4B against cash of about ₩7.9B. The share price closed at ₩4,805 on 2026-10-28, down 60.7% over one year and close to its 52-week low of ₩4,600.

What stands out

• Trailing operating margin is 0.6%, but the company still posted a net loss of about ₩0.7B, and ROE is -1%.
• The 2025 full year showed a net loss of about ₩1.7B after a much larger loss of about ₩27.6B in 2024, so profitability has been volatile.
• Liabilities are 110% of equity and borrowings exceed cash, which points to a leveraged balance sheet.
• The company's own fair value model gives a base value of ₩1,679, well below the current price, and a bull value of ₩5,685; the bear value is shown as zero. These are model outputs, not forecasts.
• Recent filings include two trading halts in August and September 2026 and a designation concern notice tied to the share price being below ₩1,000 threshold rules, though the share price is currently ₩4,805; the reason for the notice is not fully explained in the data.

What to watch

• The half-year and full-year results and any further trading halts or exchange notices, as the filings list shows several recently.
• Whether operating profit turns into net profit, given the gap between the two in the trailing figures.
• Foreign ownership fell to 0% from 3% sixty days earlier, and the data contains no news headlines to explain recent moves.