1. Solbon (035610) 2025 Half-Year Earnings Analysis: What Caused the Decline in Sales?

Solbon’s consolidated revenue for the first half of 2025 was KRW 65.001 billion, a 46.7% decrease compared to the same period last year. Operating profit and net income also decreased by 42.1% and significantly, respectively, showing deteriorating profitability. While the preliminary second-quarter earnings improved compared to the previous quarter, discrepancies with the half-year report necessitate further verification.

2. Solbon’s Core Business: Medical IT and Investment Business

Solbon focuses on investment and leasing businesses, with its medical IT business through its subsidiary Infinitt Healthcare being the core. Infinitt Healthcare is securing future growth engines by developing AI-based diagnostic support systems. However, the volatility of the investment business and losses from investments in affiliated companies are acting as risk factors.

3. Market Conditions and Solbon’s Future

Uncertainties in the macroeconomic environment, such as high interest rates and the rise in the KRW/USD exchange rate, are increasing the volatility of Solbon’s investment asset value. While the growth potential of the medical IT market is positive, preparations for external factors like intensifying competition and regulatory changes are necessary.

4. Action Plan for Investors

While Solbon has growth potential in the medical IT field, its sluggish performance and market volatility are factors to consider when investing. If considering an investment, closely monitor the following:

  • ▶ Discrepancies between the 2025 half-year report and Q2 preliminary earnings
  • ▶ Growth of the medical IT business segment and efforts to develop new businesses
  • ▶ Volatility of investment asset value and investment performance of affiliated companies
  • ▶ Impact of exchange rate fluctuations on performance