AI Korea에이아이코리아

AI Korea's shares have fallen sharply over the past year, while trailing results show revenue of ₩66.4B but an operating loss.

AI Korea, a KOSDAQ-listed maker of battery-plant electrolyte supply systems and cleaning and dust-control equipment, reported trailing revenue of ₩66.4B for the half-year to June 2026. It posted an operating loss of ₩4.3B but a net profit of ₩3.1B, and its shares closed at ₩3,835, down 69% over one year though up 14.5% over one month. The data does not include analyst ratings, price targets or forecasts.

What stands out

• Trailing operating margin is -6.5%, a swing from the 3.2% operating margin reported for full-year 2025, while the 2025 net result was a ₩0.8B loss.
• Net income of ₩3.1B is positive despite the operating loss, so the profit is not explained by operations in the data provided.
• Trailing free cash flow is -₩22.2B against cash of ₩32.6B and borrowings of ₩34B, so the balance sheet carries net debt of about ₩1.4B.
• The stock trades at about 10 times earnings and 0.5 times book value, but the 52-week range of ₩3,200 to ₩12,800 shows very large price swings.
• Recent filings include a buyback trust contract, a trust acquisition status report and a head office relocation; the only news item listed is an October 2026 networking announcement.

What to watch

• The next quarterly and half-year filings, to see whether operating losses continue and whether free cash outflow narrows.
• Further filings on the buyback trust and the acquisition status report, which may affect the share count and share price.
• Concentration risk from export sales to battery makers' overseas joint ventures, especially in the United States, which the data does not quantify.