DongBang Medical동방메디컬

DongBang Medical is profitable and growing, but its shares have fallen about 45% over the past year.

DongBang Medical makes disposable Korean medicine devices and aesthetic products such as dermal fillers and sutures, selling under its own brands in South Korea and exporting to around 50 countries. On trailing twelve months to H1 2026 it reported revenue of ₩125B, operating income of ₩22B and net income of ₩16B, with the shares closing at ₩5,540 on 2026-10-23, well below the 52-week high of ₩10,150. The data shows a change of CEO and an extraordinary shareholders' meeting in late August 2026, but no news headlines.

What stands out

• Revenue grew 8% in 2025 to ₩114B, and operating margin was about 15% for the year, rising to 17.6% on a trailing basis to H1 2026.
• Net income rose sharply from ₩2.9B in 2024 to ₩11.7B in 2025, which the data attributes to a much stronger year rather than a one-off gain, though the filings do not explain the 2024 figure.
• Borrowings of ₩36.9B exceed cash of ₩28.3B, and liabilities are about 50% of equity; the filings provided do not detail the debt terms.
• The model's base fair value of ₩13,544 is above the current price, but its bear case of ₩8,684 is well below it; this is an internal model output, not a forecast.
• Foreign ownership rose from 0.7% to 2% over 60 days, while retail investors were net sellers of about ₩2.1B over the last 20 days.

What to watch

• The CEO change and extraordinary shareholders' meeting from late August 2026 may affect management direction; the data gives no details of the new strategy.
• Next quarterly or annual results, since the latest half-year figures were filed on 2026-08-14 and the data shows no scheduled dates.
• Debt levels relative to cash, and whether the ₩16B trailing net income holds, given the company pays no dividend.