1. What Happened? ITCEN Global’s H1 2025 Earnings Breakdown

ITCEN Global announced its H1 2025 results on August 14, 2025, outlining its business restructuring and growth strategies in Web3 and IT services. However, the company’s performance fell short of market expectations, disappointing investors.

  • Revenue: KRW 12.667 billion (YoY +24% increase, -24% below the expected KRW 16.578 billion)
  • Operating Profit: KRW 215 billion (YoY +37% increase, -37% below the expected KRW 342 billion)
  • Net Profit: KRW 171 billion (YoY +35% increase, -35% below the expected KRW 265 billion)

2. Why This Happened? Analyzing the Positives & Negatives

2.1. Positives: Securing Growth Engines in Web3 & IT Services

ITCEN Global is actively investing in Web3 and IT services to secure future growth. Through investments in BDAN and acquisitions of AI-powered data platform companies, they’re pushing for Web3 expansion. They are also accelerating global expansion of their IT services, focusing on cloud, AI, and security.

2.2. Negatives: Sluggish Performance, Gold Business Dependency, Financial Risks

The underperformance against market expectations is a significant concern for investors. The high dependency on the gold business, accounting for 82.90% of consolidated revenue, exposes the company to gold market volatility. Substantial debt, slowing profitability in IT services, and uncertainties surrounding Web3 also contribute to the risks.

3. What’s Next? Future Outlook & Investment Strategies

ITCEN Global’s stock price and corporate value will depend on the success of its Web3 venture, improved profitability in IT services, and its debt management capabilities. While the high growth potential of the Web3 market presents an opportunity, investors should be mindful of the regulatory and technological uncertainties associated with its early stage.

  • Short-term Investment Strategy: Due to the potential for stock decline following the earnings miss, a cautious approach is advised.
  • Mid-to-long-term Investment Strategy: Investors should monitor the company’s expansion and profitability in Web3 and IT services. Consider the dependency on the gold business and financial risks before making investment decisions.

4. Investor Action Plan

Before investing, carefully consider ITCEN Global’s strategic execution, market adaptability, financial health improvements, and macroeconomic conditions. Consult with financial professionals and analyze diverse information sources to make informed investment choices.