SHD

SHD · 001770

Materials Steel · KOSPI

Small-cap

Market cap US$11.7M (₩16.2B)

Overview

SHD makes tin-plated steel sheet, thin steel coated with a layer of tin, which is used as the raw material for manufacturing various types of cans and metal containers.

Its customers are broadly the packaging and container industries that require a durable, recyclable metal material. Listed on KOSPI, Korea's main stock exchange, the company operates in a domestic market where only three producers currently supply tin-plated steel sheet, with high capital requirements creating a significant barrier to new entrants.

Summary is AI-generated and may contain errors · figures from DART filings

Financials

Source: DART · FY ending Dec · latest FY2025

Revenue · FY2025

US$72.8M

▼ −5.8% YoY

Operating profit · FY2025

US$2M

Turned profitable

Net income · FY2025

US$1.4M

▼ −32.8% YoY

Revenue, operating profit and net income by fiscal year (USD; KRW in parentheses).
Metric	FY2023	FY2024	FY2025
Revenue	US$77M(₩106.3B)	US$77.2M(₩106.6B)	US$72.8M(₩100.4B)
Operating profit	US$487.5K(₩672.8M)	−US$2.9M(−₩4B)	US$2M(₩2.7B)
Net income	US$79.9K(₩110.3M)	US$2.1M(₩2.9B)	US$1.4M(₩2B)

Revenue

FY2023US$77M
FY2024US$77.2M
FY2025US$72.8M

Operating profit

FY2023US$487.5K
FY2024−US$2.9M
FY2025US$2M

Net income

FY2023US$79.9K
FY2024US$2.1M
FY2025US$1.4M

Key ratios (FY2025)

ROE

3.5%

Debt/Eq

45.5%

Op. margin

2.7%

Net margin

2.0%

Rev. YoY

▼ −5.8%

Why it matters

The Korean tin-plated steel sheet market is served by only three domestic manufacturers, making new competition structurally difficult due to the heavy upfront investment required in steel-industry equipment.

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