1. SECK’s Q2 2025 Performance: A Glimmer of Hope
SECK reported a challenging first half of 2025, with revenue down 61.4% year-over-year and both operating and net income turning negative. The decline is primarily attributed to the downturn in the semiconductor market affecting its X-ray system sales. However, a backlog of KRW 52.941 billion suggests potential for future revenue recovery, particularly with increased orders for battery X-ray systems and LINAC.
2. LINAC Business: SECK’s New Growth Engine
The growth of the K-Defense industry and increasing global demand are tailwinds for SECK’s LINAC business. Furthermore, potential expansion into security and medical applications brightens the outlook for this segment.
3. Investor Action Plan: Balancing Risk and Reward
- Short-Term Investment: Monitor the semiconductor market recovery and closely observe SECK’s performance improvements.
- Long-Term Investment: Consider the growth potential of the LINAC business, new business strategies, and financial improvement efforts when making investment decisions.
4. SECK’s Future: Rebound Potential and Challenges
SECK is leveraging funds from its IPO to strengthen R&D investments and diversify its business, focusing on the LINAC segment. Investors are watching closely to see if SECK can rebound alongside a semiconductor market recovery.