Poongwon Precision풍원정밀

Poongwon Precision is still loss-making on sharply falling revenue, with heavy debt and a share price down about 72% over the past year.

The company makes precision metal masks for OLED display manufacturing and sells mainly to domestic display makers. Over the last twelve months to H1 2026 it reported revenue of ₩37.0B, an operating loss of ₩19.9B and a net loss of ₩24.2B, with borrowings of ₩35.3B against cash of only ₩0.7B. The share price closed at ₩3,005 on 2026-10-28, against a 52-week range of ₩2,620 to ₩19,970.

What stands out

• Revenue fell 34.3% in 2025 to ₩32.4B after a 14.4% rise in 2024, and operating margin was -61.6% in 2025.
• Liabilities are about 7.5 times equity and free cash flow over the last twelve months was -₩3.9B, so the balance sheet is under pressure.
• Foreign ownership rose from 0.5% to 1.4% over about 60 days, while retail investors were the main net buyers over 20 days.
• Recent filings are dominated by conversion price adjustments and conversion right exercises, which point to convertible securities being in use; the data does not give the terms or dilution size.
• No dividend is paid (yield 0%), and the data contains no news headlines and no analyst ratings or forecasts.

What to watch

• Next periodic results and any further going-concern or debt-refinancing disclosures, since borrowings far exceed cash.
• Further conversion price adjustments and share issuance from conversion rights, which could dilute existing shareholders.
• Whether the 52-week price decline and the company's losses continue, and any changes in OLED customer orders, which the data does not cover.