Korea Stock Market Insights

Tag: Exicon

  • Exicon (092870) Designated as Overheated Stock: Investment Risk Alert?





    1. What Happened? Exicon Designated as Overheated Stock

    Exicon was designated as an overheated stock on September 19, 2025, and will be subject to a single-price trading method for three trading days. This measure is due to the recent surge in stock price and trading volume.

    2. Why the Surge? A Disconnect from Fundamentals

    However, Exicon’s semi-annual report for June 2025 reveals a decline in sales, an increase in operating losses, and low production capacity utilization, indicating weak fundamentals. Expectations for new businesses like CXL and SoC Tester, or short-term supply and demand factors, may have driven the stock price up. However, sustaining this upward trend without fundamental improvement could be challenging.

    3. What’s the Market Situation? Exicon Amidst Uncertainty

    The semiconductor industry faces a downturn and intensified competition, coupled with an unstable macroeconomic environment with fluctuating interest rates, exchange rates, and oil prices. This situation could further hinder Exicon’s fundamental improvement.

    4. What Should Investors Do? Investment Strategy Recommendations

    • Short-term investors: Be cautious of increased volatility during the single-price trading period. Exercise prudence when taking short-term profits or making new entries. Closely monitor earnings announcements and the progress of new businesses.
    • Long-term investors: Verify improvements in fundamentals such as profitability, return to profitability, and increased capacity utilization rates. Monitor the performance and market response to new businesses.

    In conclusion, Exicon’s overheating is likely a temporary phenomenon. Investors should carefully consider their investments after confirming whether fundamental improvements are occurring.



    Frequently Asked Questions

    What does it mean to be designated as an overheated stock?

    It’s a system designated by the Korea Exchange to prevent speculative trading when a stock price surges in a short period. Once designated, the stock is subject to a single-price trading method for three trading days.

    How does single-price trading work?

    Orders are collected during a specified time (8:30 AM to 3:30 PM) and executed all at once. Stock price fluctuations are limited, and trading volume may decrease.

    What is the outlook for Exicon’s stock price?

    Volatility may increase in the short term. In the long term, fundamental improvements and the performance of new businesses are expected to influence the stock price.



  • Exicon (092870) H1 2025 Earnings Analysis: Spotting Opportunities Amidst Challenges

    1. What Happened at Exicon?

    Exicon recorded sales of 7.5 billion KRW (YoY decrease), operating loss of -2.8 billion KRW, and net loss of -1.7 billion KRW in H1 2025. The downturn in the semiconductor industry and high R&D investment costs are identified as the main factors contributing to this poor performance.

    2. Why These Results?

    The slowdown in the semiconductor industry led to decreased demand for memory testers, and fixed cost burdens increased due to investments in new businesses. R&D investment, accounting for 66.77% of sales, is essential for future growth but puts pressure on short-term profitability. The rise in the KRW/USD exchange rate is positive for export companies but also leads to higher import costs for raw materials. Rising interest rates can also lead to increased interest expenses.

    3. What’s Next for Exicon?

    Exicon is focusing on developing new technologies such as next-generation memory testers (DDR5, LPDDR5, GDDR6), PCIe Gen5 solutions, and CXL testers. They are also making strides in the system semiconductor market with successful CIS tester supply and ongoing development of DDI and AP testers. The order backlog of 11.654 billion KRW raises hopes for improved performance in the second half of the year. However, the recovery of the semiconductor industry and the success of new businesses are critical variables.

    4. What Should Investors Do?

    Exicon has long-term growth potential, but there are short-term uncertainties. Investors should carefully monitor the timing of the semiconductor market recovery, the performance of new businesses, and changes in exchange rates and interest rates before making investment decisions. Pay close attention to new equipment production and order backlog trends in the second half of the year.

    How was Exicon’s performance in H1 2025?

    Exicon recorded sales of 7.5 billion KRW, an operating loss of -2.8 billion KRW, and a net loss of -1.7 billion KRW in H1 2025. This represents a decrease in sales and a shift to losses in operating and net income compared to the same period last year.

    What is Exicon’s main business?

    Exicon’s primary business is producing memory and SSD test equipment, and it is actively pursuing expansion into the System-on-Chip (SoC) market.

    What is the outlook for Exicon?

    Exicon is securing growth drivers through new businesses such as next-generation memory testers and system semiconductor testers. However, short-term performance challenges and uncertainties in the semiconductor market remain.