W-Scope Chungju Plant더블유씨피

W-Scope, a battery separator maker, remains deeply loss-making as revenue has shrunk sharply and its share price has fallen over the past month.

The company makes lithium-ion battery separators, mainly for electric vehicle batteries, and supplies Korean battery makers. Trailing results to H1 2026 show revenue of about ₩135B with an operating loss of about ₩107B and a net loss of about ₩148B, and borrowings of about ₩915B far exceed cash of about ₩31B. The share price closed at ₩8,050 on 2026-10-23, down 23.6% over one month but up 7.6% over three months.

What stands out

• 2025 revenue fell 65.6% to about ₩111B after ₩322B in 2024, and operating margin was -115.2% for the year.
• Profitability swung from a 15.2% operating margin in 2023 to heavy losses in each year since 2024.
• Liabilities are 116.6% of equity and borrowings are about ₩915B, a large debt load relative to the current revenue base.
• Free cash flow on a trailing basis is about -₩36B, and the data gives no fair value estimate or forward forecasts.
• Recent filings include a 5%+ holding report, an insider shareholding report, a conversion rights exercise and an IR event, but no news headlines were provided.

What to watch

• The next results and any updated guidance, since the data contains no forecasts for coming periods.
• Trading plan and holding reports from executives and major shareholders, which were filed in October 2026.
• Debt repayment and funding needs given borrowings far above cash, and whether conversion rights exercises add shares.