1. What Happened? : Wonpoong’s H1 2025 Performance Overview

Wonpoong achieved revenue of KRW 47.87 billion (+10.4% YoY) in H1 2025, continuing its steady growth trajectory. Strong sales of industrial materials and advertising fabrics drove this growth. With 71.0% of revenue generated overseas, Wonpoong maintains its competitiveness in the global market. Financially, the company demonstrated robust stability with a low debt-to-equity ratio (7.19%) and a high current ratio (7.14x).

2. Why These Results? : Analyzing the Drivers of Performance

  • Positive Factors: Strong sales of industrial materials and advertising fabrics, sustained global market competitiveness, robust financial structure, and entry into the solar power business to strengthen ESG management.
  • Considerations: Limited profitability improvement due to fluctuating raw material prices and intensifying competition, potential foreign exchange gains/losses due to exchange rate volatility, and increased current liabilities.

3. What’s Next? : Future Outlook and Investment Strategies

Wonpoong is focusing on securing future growth engines by investing in R&D and developing high-value-added products such as non-PVC and eco-friendly materials. However, the slowdown in PVC market growth, intensifying competition, and volatility in raw material prices require continuous monitoring. The success of Wonpoong’s strategy to transition to high-value-added products and expand its market presence will be crucial for its future growth.

4. What Should Investors Do? : Action Plan

Investors considering Wonpoong should pay attention to the following:

  • Positive Aspects: Revenue growth trend, robust financial structure, shareholder return policy (treasury stock repurchase), efforts to secure future growth engines.
  • Risk Management: Monitor profitability improvement, exchange rate and raw material price volatility, and the trend of intensifying competition.
  • Key Strategy: Monitor the implementation of Wonpoong’s strategy to transition to high-value-added products and expand its market presence.

It is crucial to make a comprehensive judgment considering macroeconomic indicators and changes in the market environment.