Jincostech진코스텍

Jincostech's shares have fallen about 50% in a month, and the figures in the data pack don't reconcile cleanly, so the picture is hard to read.

Jincostech is a Seoul-area cosmetics maker focused on mask pack ODM/OEM production, with plants in Siheung and Ansan. The stock closed at ₩10,300 on 27 October 2026, with a market value of about ₩39B, after a roughly 50% drop over one month and a 52-week range of about ₩8,370 to ₩30,800. The filed trailing figures (about ₩31.0T revenue and ₩2.9T net income) are far larger than the 2025 annual figures (₩48.6B revenue, ₩6.0B net income), so the scale of the business cannot be confirmed from this data alone.

What stands out

• Filed 2025 results show revenue of ₩48.6B, up 63% year on year, with a 10% operating margin and net income of ₩6.0B, after losses in 2021 to 2023 and a small loss in 2024.
• The trailing twelve-month figures to H1 2026 show revenue of ₩31.0T, operating income of ₩3.5T and net income of ₩2.9T, but these are not consistent with the annual figures and may be a unit or reporting error.
• Balance sheet data shows cash of ₩7.8T and borrowings of ₩21.6T, with liabilities at 128.6% of equity and free cash flow of -₩0.8T; these figures sit awkwardly against a ₩39B market value.
• Valuation fields are not usable: P/E and P/B show as zero, enterprise value is listed at ₩13.8T, and no fair value model is provided.
• Over the last 20 days, institutions were net sellers of about ₩11.6B and retail investors were net buyers of about ₩13.2B; foreign ownership rose from 0% to 1.1%.
• Recent filings include a series of insider shareholding and 5%+ holding reports, a rights offering or bond subscription result, a prospectus amendment, and a delisting filing dated 8 October 2026. The data pack lists no news headlines.

What to watch

• Whether the trailing figures are corrected in future filings, since the gap with the 2025 annual numbers is very large.
• Further insider and 5%+ holder filings, and the nature of the delisting filing dated 8 October 2026, which the data does not explain.
• The next periodic results filing, which would show whether the 2025 profit trend continues in 2026.