1. What Happened? Analysis of the Opticore After-Hours Block Trade

After the market closed on September 17, 2025, Opticore recorded a ₩1.3 billion after-hours block trade. An ‘other corporation’ purchased all 685,274 shares, while foreign investors sold ₩130 million worth of shares.

2. Why Did This Happen? Background and Hidden Implications

While the large purchase by an ‘other corporation’ could be interpreted as a positive sign, caution is advised given Opticore’s current situation. The company faces fundamental challenges, including a struggling optical communication business, deteriorating financial structure, and credit rating downgrade. The possibility of this trade being related to the recent change in majority shareholder (Black Mountain Holdings Co., Ltd.) should also be considered. The sale by foreign investors could negatively impact investor sentiment.

3. What’s Next? Short-Term and Long-Term Outlook

In the short term, the influx of buying pressure from the ‘other corporation’ may lead to a stock price increase, but the impact could be limited. In the long term, the new majority shareholder’s management strategy, financial restructuring efforts, and success in the AI market will determine Opticore’s future.

4. What Should Investors Do? Key Checkpoints

  • Analyze the new majority shareholder: Evaluate the management capabilities and vision of Black Mountain Holdings Co., Ltd.
  • Monitor financial restructuring: Closely examine debt reduction, fundraising plans, and overall improvement in financial health.
  • Track AI business performance: Pay attention to the development and sales of high-speed optical transceivers.
  • Analyze macroeconomic factors: Consider the impact of external factors such as interest rate, exchange rate, and oil price fluctuations.
  • Review internal control systems: Verify efforts to improve internal accounting control systems.

Investing in Opticore carries significant risk. Thorough analysis and careful judgment are crucial.