JK Synapse, a KOSDAQ-listed company formerly known as Sonid, achieved more than 26% top-line growth last year.
On the 24th, JK Synapse said its sales came to 61.9 billion won on a consolidation basis last year. That was up 26.76% from a year earlier, while its operating loss narrowed to 8.2 billion won from 10.5 billion won over the same period.
It came about a year after MH Tech became the largest shareholder in March last year, and JK Synapse also received an "unqualified" opinion in its external audit for the 2025 fiscal year.
JK Synapse, whose main business had been producing precision chemical materials for displays, had continued to post declining sales and operating losses due to a market downturn.
High-intensity financial restructuring, including the sale of real estate assets and the addition of new subsidiaries, led to improved results. JK Synapse also carried out workforce reductions through a personnel restructuring last year.
To wipe out accumulated deficits in particular, the company executed a capital reduction without consideration and continued to acquire and cancel hundreds of billions of won worth of toxic convertible bonds (CB). It lowered the legal impairment loss ratio from 107.8% to 33.3%.
JK Synapse CEO Hwang Kevin In-seok said, "I pay tribute to the dedication of the employees and executives who devoted themselves to normalizing the company," adding, "This year, our goal is to return to the black."