Daishin Balance No.19 Special Purpose Acquisition대신밸런스제19호스팩

Daishin Balance No.19 is a shell SPAC with no revenue, no merger target yet, and a share price near its 52-week low.

This is a special purpose acquisition company listed on KOSDAQ since November 2024, with no operating business. Its only stated purpose is to merge with an unlisted company, and the filings say no target has been selected yet. As of 2026-10-23 the shares closed at ₩2,095, with a market value of about ₩11.8B.

What stands out

• Revenue is zero in every period shown, and operating losses are small, around -₩37M on a trailing basis.
• Net income of about ₩155M for the trailing period and ₩160M for 2025 is positive, but the data does not explain what drove it, and it does not come from operations.
• Cash of about ₩2.25B is set against borrowings of about ₩1.91B, with liabilities at 17.7% of equity.
• The stock is up 1.5% over one month, 0.7% over three months and down 1.4% over one year, trading between ₩2,040 and ₩2,300 over the past 52 weeks.
• Recent filings include a change of largest shareholder in January 2026 and a notice of a 30%-plus change in revenue or profit structure in February 2026, but the data does not say what that change was. No news headlines were provided.

What to watch

• Any announcement of a named merger target, which the company's stated purpose depends on; none is in the data.
• The next half-year or quarterly filings, and whether the borrowings and cash position change.
• Foreign and institutional ownership is near zero or negative in the recent flows, so liquidity and trading interest may stay thin.