Asicland에이직랜드

Asicland's losses have deepened sharply since 2023, and the shares are down 38.6% over the past year.

Asicland, a KOSDAQ-listed semiconductor company, posted a large operating loss in 2025 on revenue that fell 22.5% to about ₩72.8B. For the trailing twelve months to H1 2026, revenue is about ₩156.1B but the company still reports an operating loss of about ₩9.4B and negative free cash flow of about ₩16.8B. At ₩20,400 the market value is about ₩222.9B, with the price well below its 52-week high of ₩34,800.

What stands out

• Revenue: 2025 revenue was ₩72.8B, down from ₩94.1B in 2024 and ₩74.2B in 2023; the trailing figure to H1 2026 of ₩156.1B is much higher than the 2025 annual total, though the period basis differs and this is not explained in the data.
• Profitability: operating margin moved from +5.2% in 2023 to -18% in 2024 and -37.9% in 2025, and the trailing operating margin is -6%.
• Balance sheet: liabilities are 170.5% of equity, borrowings are ₩41.0B and cash is ₩43.7B, so cash exceeds borrowings on the figures given.
• Valuation: P/B is 2.6 and P/S is 1.4; P/E and EV/EBITDA are not available because earnings are negative.
• Filings: the recent DART list is dominated by amended major sales or supply contract notices (several in June to August 2026), plus a 5%+ holding report on 25 August 2026 and IR events in September and October.

What to watch

• The half-year report for June 2026 was filed on 14 August; the next full-year and quarterly results are not in the data, so check DART for the timing and whether losses narrow.
• The repeated amendments to major supply contracts: the data does not say what changed, so read the filings to understand the contract values and terms.
• Cash flow and debt: free cash flow was negative about ₩16.8B on a trailing basis and the data gives no outlook, so funding needs and borrowing terms are worth monitoring.