127120 KR · JS LinkMW GOBLIN RESEARCH
JS Link: After Securing Contracts, the Next Test Is Mass-Production Profitability
Analysis date
Published
As of 2026-09-30, the permanent magnet supply contract marks progress toward commercialization. However, for KRW 31,000 to be supported, expanded deliveries must lead to fixed-cost recovery and cash generation. It is difficult to judge the stock as undervalued based on the capital increase and net income turning positive alone.
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- The value of the 250-ton contract depends on delivery terms
- Assess financing capacity alongside cash burn