Seojeon Electric Machinery서전기전

Seojeon Electric's H1 2026 trailing revenue is growing, but operating losses persist and the shares have fallen 15% over the past month.

Seojeon Electric Machinery designs and sells switchgear and power distribution equipment for buildings, factories and infrastructure, with its main plant in Icheon. On a trailing twelve-month basis to H1 2026, revenue was about ₩72.0B...

What stands out

• Trailing revenue reached ₩72.0B, above the ₩68.1B reported for 2025, while the trailing operating loss was ₩5.2B (operating margin -7.2%).
• Net income is positive at ₩10.1B on a trailing basis, a 14% net margin, but operating income is negative, so the profit gap is not explained by the data provided.
• Trailing free cash flow was negative at ₩18.9B, and cash was only ₩371M against liabilities at 56.6% of equity; borrowings are listed as not available.
• The share price is ₩4,490, up 41% over one year but down 15% over one month, and well below its 52-week high of ₩11,500; the P/E is 4.3 and P/B is 1.3, with no dividend.
• Recent filings include a half-year report (August 2026), amended major sales contracts, a suspension of transactions with a business partner, and independent director changes; no news headlines were available in the data.

What to watch

• The next filings on full-year 2026 results and whether operating income returns to profit, since the trailing figure is a loss.
• Whether the free cash flow deficit and low cash balance are funded without strain, given the amended contract filings and the business partner suspension notice.
• Foreign ownership fell from 2.7% to 2.0% over 60 days and retail investors were net sellers over 20 days; the data does not explain the cause.