MakinaRocks마키나락스

MakinaRocks, a recently listed Korean industrial AI software firm, has fallen sharply since its May 2026 listing, while its filings show no reported revenue or profit figures.

MakinaRocks (KOSDAQ: 477850) listed on 2026-05-20 and closed at ₩15,430 on 23 October 2026, a market value of about ₩274B, down from a 52-week high of ₩83,600. Its shares fell 26.9% over one month and 36.4% over three months. The data does not include revenue, operating income, net income or free cash flow for the latest period, so the business's earnings cannot be assessed from this pack.

What stands out

• Balance sheet figures reported: cash of about ₩44.1B and borrowings of ₩2.0B, with liabilities at 12% of equity as of H1 2026.
• Price-to-book is 5.3x, while the price-to-earnings and price-to-sales ratios are not available because earnings and sales are missing.
• Foreign ownership fell from 1.1% to 0.7% over the past 60 days, and institutions were net sellers over the past 20 days (about ₩4.7B), while foreign investors were net buyers (about ₩6.2B).
• Recent news covers a government-backed AI project for forging and mold design worth about ₩11.8B, and the launch of a drawing analysis AI solution at Industrial AI EXPO.
• Filings in recent weeks include a half-year report (August 2026), a major sales or supply contract (August 2026) and several notices on stock purchase option grants (October 2026).

What to watch

• The next periodic results, since the latest revenue and profit figures are not in this pack.
• Details of the October 2026 management-related filing and the exchange inquiry from August 2026, which the pack does not explain.
• Whether the national AI project and the stock option grants affect the share count or business outlook; the pack does not give the terms or dilution effect.