Kukjeon국전

Kukjeon's trailing revenue is steady at about ₩134.6B, but it is only marginally profitable at operating level and posted a net loss, with a convertible bond issue announced today.

Kukjeon makes pharmaceutical ingredients and specialty chemical materials for displays, semiconductors and electronics. On a trailing basis to H1 2026 it has revenue of ₩134.6B, a small operating profit of ₩2.3B (1.7% margin) and a net loss of ₩1.8B. The share price closed at ₩2,305 on 2026-10-23, down 35.6% over one year but up 10.8% over three months.

What stands out

• Trailing operating margin is 1.7%, up from a loss-making operating result in 2025 (-₩2.6B) but well below the 5–7% margins seen in 2021 and 2023.
• The company reported a net loss on a trailing basis, while 2024 and 2023 showed net profits; liabilities are 66% of equity and borrowings total ₩39.9B against cash of ₩14.2B.
• Free cash flow on a trailing basis is positive at ₩10.7B, though the data does not explain what drove it.
• Valuation metrics in the data: price-to-book 1.1, price-to-sales 0.9, EV/EBITDA 18.5, with no meaningful P/E because earnings are negative and no dividend.
• Foreign ownership fell from 1.8% to 0.8% over about 60 days, and foreign investors were net sellers over the last 20 days while retail investors were net buyers.

What to watch

• A convertible bond issue decision was filed today (2026-10-23); the data does not give its size, terms or dilution effect, so the filing itself should be read.
• An amended H1 2026 half-year report was filed on 2026-10-02; check the amendment for any changes to the reported figures.
• Several 5%+ holding reports were filed between July and October 2026, and a bond acquisition before maturity was filed on 2026-08-27; the data does not say who the holders are or what the bond transaction involved.