Wizit

Founded in 1997 and listed on KOSDAQ in 1999, Wizit is a semiconductor and display equipment parts specialist that first localized the consumable top-electrode part for display processes before expanding into precision parts for deposition (CVD), lithography, and etching.

One of its key products is a consumable component that disperses gas evenly through thousands of fine holes drilled into glass substrates and wafers, used in semiconductor etching and thin-film processes.

Its major customers are LG Display, Samsung Display, Samsung Electronics, and SK hynix, and revenue is concentrated among a small number of large customers.

According to independent research house Value Finder, revenue in Q1 2026 was split 63.8% display equipment parts and 36.2% semiconductor equipment parts, with display parts still accounting for more than half.

Subsidiary Powernet, acquired in 2017, makes switch-mode power supplies (SMPS) for IT, home appliance, and industrial electronics, and has recently expanded into LFP secondary-battery materials.

Based on shareholder-meeting attendance and other factors, Wizit determined at the end of 2023 that it held de facto control over Powernet and reclassified it from an equity-method affiliate to a consolidated subsidiary, causing Powernet's full-year revenue to enter Wizit's consolidated statements starting in 2024.

Wizit also holds a 30.77% stake in T Scientific and a 3.51% stake in Hansung CleanTech.

The company has been designated by the government as a national strategic technology production facility for advanced memory semiconductor (DRAM, NAND, HBM) materials and parts, and is pursuing a strategy of expanding its portfolio toward higher-value-added semiconductor back-end parts.

Consolidated revenue in 2025 was KRW 483.03bn, up 35.0% from KRW 357.76bn in 2024, while operating profit rose 86.6% to KRW 25.84bn from KRW 13.85bn.

Profit attributable to owners, however, was only KRW 7.79bn, more than nine times the KRW 0.85bn recorded in 2024 but still small in absolute terms relative to the jump in revenue and operating profit.

This gap appears to stem from Powernet's reclassification as a consolidated subsidiary at the end of 2023, after which consolidated revenue and assets surged, but a substantial portion of Powernet's equity remains held by non-controlling shareholders, so much of the profit is allocated to non-controlling interests.

Indeed, of total consolidated equity of KRW 406.07bn at end-2025, owners' equity was KRW 144.71bn versus non-controlling interests of KRW 261.37bn, roughly 1.8 times larger.

In 2023 the company posted operating profit of KRW 3.65bn (a 10.4% margin) yet still recorded a net loss attributable to owners of KRW 24.06bn, illustrating a year in which operating performance and owners' bottom line diverged sharply.

Looking at the last four quarters, revenue oscillated between roughly KRW 110bn and KRW 133.5bn — KRW 110.36bn in Q3 2025, KRW 133.49bn in Q4 2025, KRW 116.02bn in Q1 2026, and KRW 114.70bn in Q2 2026 — while the operating margin traced a saw-tooth pattern, falling from 6.6% in Q3 2025 to 3.4% in Q4 and 3.5% in Q1 2026 before rebounding to 6.8% in Q2 2026.

Profit attributable to owners, by contrast, kept declining, from KRW 2.74bn in Q3 2025 to KRW 1.34bn in Q4 and KRW 0.26bn in Q1 2026, before flipping to a net loss of about KRW 0.66bn in Q2 2026 even as the operating margin recovered.

This is likely tied to factors surrounding the March reverse stock split and the June third-party rights offering, or to a larger allocation of profit to non-controlling interests below the operating line.

Consolidated operating cash flow was KRW 23.71bn in 2025, close to the KRW 26.25bn recorded in 2024, suggesting cash generation stayed relatively stable despite the swings in reported profit.

The market for semiconductor equipment parts has been expanding quickly, driven by rising demand for high-spec DRAM and HBM tied to AI server and data-center capital spending.

Market data provider FnGuide noted that demand from AI, 5G, servers, and automotive electrification is driving high-spec DRAM demand and large-scale data-center buildouts, fueling explosive growth in the semiconductor market.

By contrast, the display equipment parts market that Wizit has long focused on looks comparatively stagnant; the company itself has said its core semiconductor and display businesses are generally flat, and that it is broadening its portfolio through an eco-friendly cleaning business and higher-value-added new products.

Against this backdrop, Wizit is shifting its revenue mix from display toward semiconductor parts, and Value Finder projected that the company would continue to benefit from capital-expenditure expansion at memory chipmakers such as SK hynix.

Competitively, Wizit is regarded as one of a small number of domestic firms with a track record of localizing consumable display and semiconductor parts, but it remains relatively small next to major global equipment and parts suppliers in terms of revenue scale and R&D resources. Whether it can diversify its global customer base is seen as a key variable for its future market position.

Wizit has stated its intention to keep restructuring its semiconductor portfolio toward higher-value-added products and to keep expanding the share of semiconductor-parts revenue.

The company continues to invest around its designation as a national strategic technology production facility for advanced memory semiconductor (DRAM, NAND, HBM) materials and parts.

On the capital-raising front, it completed a 3-for-1 reverse stock split in March 2026 that reduced capital stock from KRW 59.2bn to KRW 19.7bn, and, following the split, carried out a roughly KRW 4.0bn third-party rights offering to its controlling shareholder in June, raising JS I Holdings' stake from 35.2% to 38.9%.

The company said it plans to use the proceeds to expand production capacity. On global customer diversification, sample evaluations were reported to be under way with TSMC (2 of 5 samples) and Kioxia (2 samples), and the company reportedly has a past supply history with China's YMTC.

Value Finder estimated that, even on conservative assumptions, additional overseas revenue of about KRW 50bn could be generated by 2029. This figure, however, is an external research estimate, and the timing and conclusion of any actual supply contracts remain unconfirmed.