1. What Happened? Earnings Summary

Mirae Nanotech reported KRW 122.6 billion in revenue (down 6.3% YoY), KRW 6.1 billion in operating profit (down 2.9% YoY), and a net loss of KRW 5.7 billion (down 70.6% YoY) for H1 2025. Struggles in the display and secondary battery materials businesses drove the revenue decline, while the net loss raises concerns.

2. Why These Results? Business Analysis

The display business saw a 43.4% drop in revenue due to a sluggish TV market, and the secondary battery materials business unexpectedly plummeted by 73.6%. Conversely, the EMI filter business grew by 22.7% thanks to expansion in the automotive components market.

  • Display Business: Hit hard by TV market downturn.
  • Secondary Battery Materials: Unexpected underperformance requires further analysis.
  • EMI Filter Business: Benefiting from automotive market growth.

3. What’s Next? Investment Strategies

While Mirae Nanotech holds growth potential in secondary battery materials and EMI filters, the current underperformance and financial burden call for cautious investment decisions. A wait-and-see approach is recommended in the short term, while long-term investors should monitor the recovery of the secondary battery materials business and the sustained growth of the EMI filter segment, along with the company’s efforts to improve its financial health.

  • Short-Term Strategy: Wait and see.
  • Long-Term Strategy: Monitor key business growth and financial health.

4. Investor Action Plan

Investors should focus on the following:

  • Identify the reasons for the underperformance of the secondary battery materials business and its potential for recovery.
  • Assess the sustainability of growth in the EMI filter business.
  • Examine the turnaround strategy for the display business.
  • Monitor efforts to improve the financial structure.