Jungang Advanced Materials (051980) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
Jungang Advanced Materials belongs to the telecom and broadcasting equipment group, generating revenue by making and delivering components and materials for communications and broadcasting; as a small-cap name with a market capitalization of about ₩101.1 billion, individual disclosures such as supply contracts or financings have a relatively large effect on revenue, share count, and finances. In June 2026 it signed a single supply contract (contract value ₩2.5 billion, 12.4% of recent revenue), and disclosures covered a May convertible-bond issuance decision and the September 2025 results of a third-party allotment paid-in capital increase (4,849,410 shares planned to be issued). The notable point lately is that, in an undervalued zone where the share price is below net asset value (P/B 0.97x), the loss is narrowing quickly from the prior year and the current ratio of 256.6% leaves ample short-term payment capacity, a clear strength; on the other hand, operating and net profit are still in the red, recent quarterly revenue fell from a year earlier, and convertible bonds and the capital increase could raise the share count, so whether revenue actually revives and leads to profit is the crux.
This page organises public market and filing data for information purposes. It is not a recommendation to buy or sell, nor investment advice. Metrics labelled “forward” are our own unverified estimates. Please verify with the original DART filings and decide at your own responsibility.
30-second brief
Pulled directly from the computed values below — not a separately written opinion.
What do the SourceComputedEstimateReading tags mean?
Source filings and exchange data · Computed calculated from public data · Estimate our own unverified projection · Reading drafted automatically, then rule-checked. See AI & Automation.
Core valuation metric
This stock's effective sub-sector is “IT Hardware & Equipment” (Semiconductors & IT Components), a type typically read first through forward P/E.
IT hardware and equipment makers see orders and earnings swing with their customers' investment cycles and new-product launches, so what matters is the profit still to come, not the profit already booked. That is why forward P/E, based on expected earnings, is the first lens here.
Price against earnings alone becomes unstable when earnings swing. Reading it together with price against assets helps gauge the downside.
That said, earnings are swinging with the industry cycle right now, so this metric is best viewed alongside asset value and the demand backdrop.
This note explains how each sector is typically valued and is educational context only, not investment advice.
At-a-glance assessment financial health · growth · profitability · valuation
- The most recent full-year net result was a loss.
- Revenue rose 6.0% year over year, and the pace is quickening (3-year trend: mixed).
- Most recent quarter (Q1 2026) revenue was 30.4% lower than a year earlier.
- ROE is -5.3% (controlling-interest basis). It is below the sector average.
- Operating margin is -23.0%.
- A sector-metric and in-depth research verdict — see “Valuation vs peers” below for the basis.
Ownership & governance As of 2025-12-31
Largest shareholder Gwangmu 14.46% (corporate)
Controlling bloc incl. related parties 28.99%
With the controlling bloc holding 29%, control is maintained but the free float is relatively large.
🔎 In-depth analysis Reading
Jungang Advanced Materials is a company classified in the telecom and broadcasting equipment group. Its business report covers its main products and services, raw materials and production facilities, and its revenue and order status, but at the core it generates revenue by making and delivering components and materials for communications and broadcasting. Because it is a small-cap name with a market capitalization of about ₩101.1 billion, individual disclosures such as supply contracts or financings have a relatively large effect on revenue, share count, and finances, beyond changes in the underlying business itself.
The latest close is ₩948 and the market capitalization is ₩105.3 billion. The price sits below its 20-day moving average (₩956) and below its 60-day moving average (₩1,202). It is under both its short- and medium-term moving averages, so the trend looks subdued. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 45.7, a neutral level. The one-month change is +6.0%, the three-month change is -48.4%, and the position relative to the 52-week high is -77.0%. Relative strength versus the KOSDAQ is 5 (on a 1-99 scale, converted from returns against the index over the past year with more weight on recent performance; higher means stronger than the market). It is stronger than roughly 4% of all stocks. Over the past three months it lagged the index by 23.2%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
The most recent full-year results show revenue of ₩19.8 billion, an operating loss of ₩4.6 billion, and a net loss of ₩5.5 billion. The operating margin was -23.0% and ROE (how much is earned in a year on equity) was -5.3%, so it is still in loss territory. That said, compared with the prior year (a 2024 net loss of ₩76.8 billion), the loss has narrowed sharply. On the balance sheet, the debt ratio (debt against equity) is 122.6%, not an excessive level, and the current ratio (assets that can be turned to cash against debts due within a year) is 256.6%, leaving ample short-term payment capacity. On valuation, because earnings are in the red the P/E (how many times one year of earnings the share price is) cannot be calculated, and the P/B (how many times book value the share price is) is 1.01x. In other words, the share price is set below the company's net assets, so on an asset-value basis it is on the cheap side. This is not a place to view the P/B as a 'burden'; the crux is the point at which it turns from loss to profit.
Revenue fell from ₩26.3 billion in 2023 to ₩18.7 billion in 2024, then rebounded once to ₩19.8 billion in 2025, up 6.0% year on year. That said, in the most recent quarter, the first quarter of 2026, revenue was ₩2.3 billion, down 30.4% from the same period a year earlier, so the revenue trend has not yet settled into a single direction. The operating loss narrowed from ₩7.8 billion in 2024 to ₩4.6 billion in 2025, and the net loss improved sharply from ₩76.8 billion to ₩5.5 billion. The rapid shrinkage in the absolute size of the loss is a positive, but it is still early to say it has swung to profit. This year's revenue is estimated at around ₩12.8 billion, a figure set by applying the confirmed first-quarter result to the ratio pattern of quarterly results. Because earnings are still in a loss phase, it is difficult to present a separate forward earnings multiple, and confirming quarter by quarter whether revenue recovery and cost control occur together is the most important thing to watch for now.
The recent disclosures mix business progress and financing. On June 9, 2026, the company signed a single supply contract (contract value ₩2.5 billion, 12.4% of recent revenue), so whether this contract is a one-off or leads to repeat deals is central to future revenue recognition. On May 11, 2026, there was a convertible-bond issuance decision (attachment correction), and on September 8, 2025, the results of a third-party allotment paid-in capital increase (4,849,410 shares planned to be issued) were disclosed. Both financings should be read together with the purpose of the incoming funds and the resulting change in share count, and where the raised funds are used, whether for facilities or operations, and how they link to actual revenue shapes the medium-term read.
This is a stock whose strengths and cautions divide clearly. The strengths are that the share price sits in an asset-value-based undervalued zone below net assets (P/B 0.97x), the loss is narrowing quickly from the prior year, and short-term payment capacity (current ratio 256.6%) is ample. The price has also fallen sharply, -66.8% over six months, leaving expectations considerably lowered. The cautions are that operating and net profit are still in the red, recent quarterly revenue fell from a year earlier, and financings such as convertible bonds and the capital increase could raise the share count. In sum, if revenue actually revives, as with the June supply contract, and the narrowing loss leads to a swing to profit, the recovery potential grows in tandem with the lowered valuation; conversely, if revenue keeps falling and financings recur, looking cheap against assets alone is hard to build momentum on.
🔎 Valuation vs peers Undervalued
A peer set of telecom and broadcasting equipment names with nearby market capitalization.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Dasan Networks | — | 0.39x | -2.65% |
| Genoray | — | 2.02x | -4.10% |
| IDIS | 9.61x | 0.69x | 7.49% |
Within telecom and broadcasting equipment, public-data peers with nearby market capitalization were looked at first. The current P/E (how many times one year of earnings the share price is) cannot be confirmed, while the P/B (how many times book value the share price is) is 1.01x. That said, for smaller-cap names the impact of earnings swings and financing disclosures is large, so no firm conclusion was drawn from last year's confirmed-results metrics alone. The basis for the outlook box is a DART seasonality approximation.
Earnings outlook Estimate company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩12.8 billion | — | — |
| Next quarter | Q2 2026 | ₩3.5 billion | — | — |
Price history Close · MA20 · MA60
The latest close is ₩948 and the market capitalization is ₩105.3 billion. The price sits below its 20-day moving average (₩956) and below its 60-day moving average (₩1,202). It is under both its short- and medium-term moving averages, so the trend looks subdued. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 45.7, a neutral level. The one-month change is +6.0%, the three-month change is -48.4%, and the position relative to the 52-week high is -77.0%. Relative strength versus the KOSDAQ is 5 (on a 1-99 scale, converted from returns against the index over the past year with more weight on recent performance; higher means stronger than the market). It is stronger than roughly 4% of all stocks. Over the past three months it lagged the index by 23.2%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Relative performance stock vs index · start = 100
Excess return vs index · 3M -23.18% / 6M -47.84% / 12M -68.63%
Key metrics Computed vs sector median
Valuation
A net loss makes the P/E an unreliable valuation gauge. The P/B of 1.01x is above the sector median (0.83x).
Enterprise value (EV)
EV = market cap + net debt. It reflects cash and debt, so it captures the real cost of the whole business that market cap alone misses; lower multiples are cheaper relative to earnings or sales.
Profitability & financials
Return on equity (ROE) is -5.3%, below the sector average (3.0%). The operating margin is -23.0%. The debt ratio is 22.8%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $18.5M | $13.1M | $13.9M | +5.98% ↑ faster |
| Operating profit | $39,947 | -$5.5M | -$3.2M | — |
| Net profit | -$34.0M | -$54.0M | -$3.9M | — |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $9.2M | $20.4M | $18.5M | $13.1M | $13.9M |
| Operating profit | -$3.3M | -$3.8M | $39,947 | -$5.5M | -$3.2M |
| Net profit | -$12.1M | -$12.8M | -$34.0M | -$54.0M | -$3.9M |
| Revenue CAGR | 4-yr avg 11.04% | ||||
Revenue rose 6.0% year over year (2023 ₩26.3 billion → 2024 ₩18.7 billion → 2025 ₩19.8 billion), and the three-year trend is 'mixed'. The pace of growth also quickened from the prior year. Operating results are in the red, so a swing back to profit matters more than the growth rate here. Over the 5 years on record, revenue compound annual growth (CAGR) is 11.0%. The two-year revenue CAGR is -13.2%. In the most recent quarter (Q1 2026), revenue was 30.4% lower than the same period a year earlier.
Latest quarterly results Source Q1 2026 · vs year-ago
Technical indicators Computed
What stands out
- —
Points to watch
- The most recent full year was a loss, so it is worth checking whether profitability recovers.
Recent news & events searched · sourced
- 2026-06-09ContractSingle supply contract signed: contract value ₩2.5 billion, 12.4% of recent revenueThe contract value and term are central to future revenue recognition. Whether it is a one-off or a repeatable deal shapes the medium-term read. Source
- 2026-05-11Update[Attachment correction] Material fact report (convertible bond issuance decision): see original for detailed termsA disclosure to read together with the purpose of the incoming funds and the change in share count. Where a facility or operating purpose is stated, whether the investment is actually deployed and linked to revenue is the key point. Source
- 2025-09-08UpdateSecurities issuance results (voluntary disclosure) (third-party allotment paid-in capital increase): Advanced Materials / Securities issuance results (voluntary disclosure) / (2025.09.08) Securities issuance results (voluntary disclosure) (third-party allotment paid-in capital increase) Securities issuance results (voluntary disclosure) 1. Type of securities registered common shares 2. Method of issuance third-party allotment paid-in capital increase 3. Issuance details number of shares planned to be issued 4,849,410 amount planned to be issued (won) 9,A disclosure to read together with the purpose of the incoming funds and the change in share count. Where a facility or operating purpose is stated, whether the investment is actually deployed and linked to revenue is the key point. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩948 | ₩948 | Confirmed | link |
| Latest quarterly results | revenue ₩2.3 billion, operating profit -₩2.3 billion | revenue ₩2.3 billion, operating profit -₩2.3 billion | Confirmed | link |
| Full-year results | revenue ₩19.8 billion, operating profit -₩4.6 billion | revenue ₩19.8 billion, operating profit -₩4.6 billion | Confirmed | link |
| Original text of the contract disclosure | single supply contract signed: contract value ₩2.5 billion · vs recent revenue 12.4% | single supply contract signed: contract value ₩2.5 billion · vs recent revenue 12.4% | Confirmed | link |
| Original text of the financing disclosure | see the filing for detailed terms | see the filing for detailed terms | Confirmed | link |
| Original text of the financing disclosure | / /(2025.09.08) 1. 2. 3 3. 4,849,410 9 | / /(2025.09.08) 1. 2. 3 3. 4,849,410 9 | Confirmed | link |
| Basis of the outlook box | DART | DART | Confirmed | link |
Recent filings Source
- 2026-06-09Single supply/sales contract
- 2026-06-08OwnershipOwnership-change filing
- 2026-05-29OwnershipLargest-shareholder ownership change report (amended)
- 2026-05-15PeriodicQuarterly report
- 2026-05-11Material-fact report (amended)
- 2026-03-31Disclosure
- 2026-03-31Shareholders' meeting notice
- 2026-03-26Amended filing
- 2026-03-26Amended filing
- 2026-03-26Amended filing
- 2026-03-23PeriodicAnnual business report
- 2026-03-23Audit report
📖 Plain-language glossary — expand if you are new to this
- P/E
- How many times a year's net profit the price is worth (lower is cheaper relative to earnings). The P/E here is on trailing (last full-year) results; for companies whose earnings swing fast (memory chips and other cyclicals/high-growth), a forward P/E on this year's expected earnings is more accurate.
- P/B
- Price relative to net assets (equity). Around 1x means it trades near book value; below 1x means below book.
- P/S
- Price relative to a year's revenue — useful for growth companies with thin earnings.
- Net debt / EV
- Net debt = interest-bearing debt − cash. Negative means more cash than debt (net cash). EV (enterprise value) = market cap + net debt, closer to what it would cost to buy the whole business.
- EV/EBIT · EV/EBITDA · EV/Sales
- Enterprise value against operating profit (EBIT), EBITDA, or revenue. Unlike P/E these reflect debt and cash; lower is cheaper relative to earnings power or sales.
- FCF / FCF yield
- Free cash flow = operating cash − capex, the cash actually left over. FCF yield = FCF ÷ market cap; higher means more cash generated per unit of market value.
- Intrinsic value (DCF)
- Future free cash flow (or, for some capex-heavy but profitable names, forecast earnings) discounted to today to estimate per-share value. Because it shifts a lot with the discount-rate and growth assumptions, it is shown as a bear/base/bull range, and the basis and assumptions are disclosed in one line beneath it.
- ROE
- How much profit the company earns in a year on its equity (%). Higher means better returns on capital.
- EPS / BPS
- Earnings per share / net assets (book value) per share.
- Operating / net margin
- Profit left from the core business / final profit after tax and interest, per unit of revenue.
- Debt ratio
- Debt relative to equity (%). Higher means more reliance on borrowing (norms vary by sector).
- Current ratio
- Assets convertible to cash within a year against debt due within a year. Above 100% leaves some short-term headroom.
- Interest coverage
- How many times operating profit covers the interest owed. Below 1x means operating profit alone struggles to cover interest.
- Dividend yield / payout ratio
- The year's dividend as a % of today's price / the share of earnings paid out as dividends.
- Revenue CAGR
- Multi-year growth expressed as a single yearly average (compound annual growth rate).
- RSI (short-term signal)
- Whether recent price action is overheated or beaten down. Above 70 is overbought, below 30 oversold.
- MA20 / MA60 (moving averages)
- The 20- and 60-day average price. Price above them signals a firmer short-term trend.
- vs 52-week high
- How far below the past year's peak the price sits now (%).
All figures are for reference only; how they read varies by sector and over time.
Sources: Korea FSC market-price API (data.go.kr), OpenDART, KRX/KIND — public data only.
Bong Stocks presents public-data-based information for reference only. It is not investment advice and contains no target prices, ratings, or buy/sell recommendations. Verify independently before making any decision.