1. What Happened?: Intops Q2 Earnings Analysis

Intops reported an earnings shock in Q2 2025, with revenue of KRW 144.3 billion, an operating loss of KRW 9.7 billion, and a net loss of KRW 10 billion. These figures significantly missed market forecasts, with revenue down 50.3% year-over-year and operating income swinging to a loss.

2. Why This Happened?: Analyzing the Causes of the Decline

The primary driver is the slump in the IT Devices segment. The downturn in the smartphone market and intensifying competition have led to a sharp decline in sales, directly impacting overall performance. The Home Appliances and Auto Parts segments also underperformed, and contributions from new businesses were minimal.

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

  • Short-term Impact: Downward pressure on stock price, weakened investor sentiment, potential credit rating downgrade
  • Long-term Impact: Pressure for business restructuring, urgency for profitability improvement, growth potential of new businesses, impact of macroeconomic variables

4. What Should Investors Do?: Action Plan

Caution is advised for investing in Intops at this time. The risk of short-term stock price decline is high, and even from a long-term perspective, it’s crucial to monitor improvements in profitability and business diversification. Before making any investment decisions, closely monitor the IT Devices segment’s order intake, cost reduction efforts, new business growth, Auto Parts segment performance, macroeconomic variables, and changes in credit ratings.