RN2 Technologies알엔투테크놀로지

RN2 Technologies is loss-making and its share price has fallen about 73% over the past year, with a name change and board changes under way.

The company makes LTCC ceramic components for wireless equipment and has been running large operating losses, with trailing twelve-month revenue of ₩18.8B and an operating loss of ₩4.5B as of H1 2026. The share price closed at ₩1,850 on 2026-10-16, well below its 52-week high of ₩7,400, giving a market cap of about ₩25.2B. Recent filings cover a company name change to Squaretech, independent director changes and a decision on buying back convertible bonds early.

What stands out

• Trailing revenue is ₩18.8B, but operating margin is -24.2% and net margin is -51.9%, so losses are large relative to sales.
• Revenue rose 30.4% in 2025 to ₩18.7B, yet the company still posted operating losses in every year from 2023 to 2025 and in the trailing period.
• Cash of ₩13.3B is reported against no borrowings, with trailing free cash flow of -₩5.0B; the filings data gives a liabilities-to-equity ratio of 57%.
• The stock is priced at 0.6 times book value and 1.3 times sales, with no dividend; the price/earnings ratio is not meaningful because earnings are negative.
• Foreign ownership rose from 2.0% to 3.2% over 60 days, while institutions were net sellers over the last 20 days of recorded flows.

What to watch

• Next periodic results and whether operating losses narrow from the H1 2026 trailing level.
• Outcome of the decision on early acquisition of the company's own convertible bonds, and any related share dilution, which the data does not quantify.
• Effects of the name change to Squaretech and the independent director changes on the company's direction; the data does not describe a new strategy.