1. What Happened? Dongnam Synthesis Q2 Earnings Shock

Dongnam Synthesis’s preliminary Q2 2025 results show revenue of 43.3 billion KRW, operating profit of 0.9 billion KRW, and a net profit of zero. This represents a 4.0% YoY decrease in revenue, a 47.1% YoY decrease in operating profit, and a 100% YoY decrease in net profit. Compared to the previous quarter, revenue decreased by 17.6%, operating profit by 70%, and net profit by 100%, highlighting a worsening profitability trend.

2. Why Did This Happen? Analyzing the Causes of the Decline

The main factors contributing to this earnings decline are rising cost pressures and increased SG&A expenses. Rising raw material prices, coupled with deteriorating financial health due to a higher debt-to-equity ratio, negatively impacted profitability. Furthermore, the rising exchange rate and global economic slowdown added to the challenges.

3. What Now? Reviewing Investment Strategies

In the short term, caution is advised. The Q2 earnings shock is likely to negatively impact the stock price. From a long-term perspective, while market growth potential and technological capabilities are positive, addressing the declining profitability and financial health issues is crucial. Investors should closely monitor management’s response strategies and assess the company’s ability to improve profitability and stabilize its financial structure.

4. Investor Action Plan

  • Short-term investors: Be aware of increased stock price volatility following the earnings announcement. Consider the possibility of further negative news and invest cautiously.
  • Long-term investors: Look for management’s announcements regarding strategies to improve profitability and stabilize the financial structure. Continuously monitor future earnings trends, cost management capabilities, SG&A efficiency, and new product sales strategies.