Solus Advanced Materials솔루스첨단소재

Solus Advanced Materials remains loss-making at the operating line over the last twelve months, though recent filings and news point to higher battery foil prices from the fourth quarter.

Solus Advanced Materials, a KOSPI-listed maker of electronic components and materials, reported trailing twelve-month revenue of about ₩505B to H1 2026 but an operating loss of about ₩97B, with net income of about ₩41B. Its share price closed at ₩8,040 on 23 October 2026, roughly 8% below its level a year earlier and well off its 52-week high of ₩16,900. The company profile is not included in the data provided.

What stands out

• Trailing revenue is about ₩505B, while the operating margin is -19.2%, so profit at the operating level is negative even though net income is positive at about ₩41B.
• Free cash flow is about -₩372B and borrowings are about ₩503B against cash of about ₩70B, so debt is a large part of the balance sheet (liabilities at 116.1% of equity).
• The 2025 full-year filing shows a net loss of about ₩67B, following a net profit of about ₩5B in 2024 and ₩188B in 2023.
• On 18 and 19 October 2026, news reports said the company raised average selling prices of battery foil by more than 50% in the fourth quarter and expected profitability to improve from 2027.
• Valuation is P/E 13.7 and P/B 0.8, with no dividend yield; recent 20-day flows show retail investors net sellers and foreign ownership down to 2.5% from 3.4% sixty days earlier.

What to watch

• Whether the announced fourth-quarter battery foil price increases show up in upcoming quarterly results, given the trailing operating loss.
• Repeated filings on guarantees of debt for another party, which may add contingent obligations alongside existing borrowings.
• The timing of the 2026 full-year results and any further filings on the share cancellation decision and holding changes.