YeSUN Tech예선테크

YeSUN Tech returned to a small TTM profit on thin margins, but faces delisting-related notices and a steep one-year share price fall.

YeSUN Tech makes functional adhesive materials for display, automotive and battery markets, with subsidiaries in China, Vietnam and Indonesia. On a trailing twelve-month basis to H1 2026 it reported revenue of ₩40.0B, operating income of ₩1.2B and net income of ₩2.6B, after losses in each year from 2022 to 2025. Its balance sheet is heavily geared, with borrowings of ₩27.2B against cash of ₩2.3B.

What stands out

• Trailing revenue of ₩40.0B and a 3.1% operating margin compare with an operating loss of ₩813M on ₩37.9B revenue in 2025.
• Net income of ₩2.6B is above operating income, so the TTM profit may rely on non-operating items; the data does not break this down.
• Liabilities are 227% of equity and borrowings are roughly 12 times cash, which is a significant financial risk.
• The share price closed at ₩1,615, down 30.1% over one year, though up 16.3% over one month; the 52-week low is listed as ₩0, which looks like a data gap.
• Recent filings include two 'Delisting' notices in late September and a 'Share cancellation decision' in August; the news headlines mention a delisting grace period tied to the market cap requirement.

What to watch

• Whether the delisting grace period and market cap requirement are resolved, as flagged in recent filings and news.
• Details of the share cancellation decision and any further delisting filings, which the data does not explain.
• Upcoming full-year results, since the data gives no forecasts and only trailing figures through H1 2026.