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KREDKRED
257720KOSDAQ

Silicon 2

35,450
-2,100 (-5.59%)

Price chart

  • MA5
  • MA20
  • MA60

Adjusted prices rescale past bars with coefficients taken from the base prices the exchange itself published, correcting for corporate actions such as stock splits and reverse splits. Cash dividends are not reflected, and the risk measures on this page never use these adjusted figures.

Market capitalizationKRW 1T

Each day's close multiplied by the listed share count of this share class alone, sampled weekly. It is the figure for this issue only, not a combined total across common and preferred shares.

Overview

Summary

Silicon 2 is a company established on January 19, 2002. It is listed on the KOSDAQ market.

The company operates a comprehensive K-Beauty distribution platform. It provides B2C retail through its StyleKorean.com e-commerce site and B2B wholesale exports to global distributors and retailers. The company manages global logistics centers and operates offline stores under the moida brand. It also provides brand incubation and marketing services for small and medium enterprises.

Business overview as filed

당사는 K-Beauty 브랜드 제품을 중심으로, 글로벌 B2BㆍB2C 유통을 아우르는 종합 K-Beauty 유통 플랫폼 기업입니다. 자사 플랫폼인 StyleKorean.com을 통해 전 세계 약 175개국을 대상으로 E-Commerce 기반의 역직구(B2C Retail) 판매를 진행하는 동시에, 글로벌 유통사ㆍ리테일러ㆍ온라인 플랫폼을 대상으로 한 도매(B2B Wholesale) 수출 사업을 영위하고 있습니다.

당사는 국내 유통사 중 선도적으로 해외 법인 및 물류 거점을 기반으로 한 현지화(Localization) 전략을 구축하였으며, AGV(Automated Guided Vehicle) 기반의 자동화 물류 시스템을 도입한 대형 물류센터를 운영함으로써, 대량 주문ㆍ빠른 출고ㆍ실시간 재고 관리가 가능한 고도화된 글로벌 물류 인프라를 보유하고 있습니다. 이를 통해 단순 유통을 넘어, RetailㆍWholesale 통합형 플랫폼 비즈니스 모델을 구축하고 있습니다.

또한 당사는 국내 유망 K-Beauty 브랜드를 발굴ㆍ소싱하여, ㆍ B2C 소비자 대상 E-Commerce 플랫폼(StyleKorean Retail)

ㆍ 글로벌 바이어를 위한 B2B 전용 주문 플랫폼(StyleKorean Wholesale)

을 각각 운영하고 있으며, 실시간 재고 연동, 대량 주문 가능, 국가ㆍ채널별 맞춤형 상품 구성 및 가격 전략을 통해 글로벌 시장 대응력을 강화하고 있습니다. 더불어, 국가별 소비 트렌드와 선호도에 기반한 제품 큐레이션 및 현지 맞춤형 마케팅 전략을 통해 브랜드와 소비자를 효과적으로 연결하고 있습니다.

한편, 당사는 해외 진출을 희망하는 중소기업 및 인디 브랜드를 대상으로 지분 투자, 해외 판로 개척, 영업대행, 브랜드 인큐베이션 등의 역할을 수행하고 있으며, 틱톡ㆍ인스타그램ㆍ유튜브 등 SNS 기반 글로벌 마케팅 역량을 활용하여, 브랜드 인지도 제고 및 매출 성장을 지원하고 있습니다. 이를 통해 급변하는 글로벌 E-Commerce 및 유통 환경에 효과적으로 대응할 수 있는 종합 솔루션을 제공하고 있습니다.

아울러, 당사는 자체 B2C 오프라인 매장 'moida'를 중심으로 글로벌 오프라인 사업 확장을 추진하고 있습니다. 'moida'의 핵심 목적은 단기적인 오프라인 매출 확대가 아닌, 글로벌 시장에서 K-Beauty 카테고리 전반에 대한 인지도 제고와 중장기적인 매출 성장을 견인하는 데 있습니다. 현재 K-Beauty에 대한 관심은 확대되고 있으나, 오프라인 접점과 체험 기회는 여전히 제한적인 상황입니다.

이에 따라 당사는 'moida'를 신규 인디 브랜드 소싱 및 인큐베이션을 기반으로 한 체험형 오프라인 플랫폼으로 전개하고자 합니다. 'moida' 매장은 단순한 판매 공간을 넘어, 글로벌 소비자들이 다양한 K-Beauty 브랜드와 제품을 직접 체험하고 트렌드를 인식할 수 있는 핵심 접점 역할을 수행하며, 이를 통해 브랜드 인지도 제고, 신규 브랜드의 글로벌 안착, 중장기적인 매출 성장 기반 구축을 목표로 하고 있습니다. 아울러 이러한 오프라인 전략을 기존의 B2BㆍB2C 온라인 유통 역량 및 글로벌 물류 인프라와 유기적으로 결합함으로써, K-Beauty 밸류체인 전반에서의 경쟁력을 지속적으로 강화해 나갈 계획입니다.

Company overview

1. 연결대상 종속회사 개황(연결재무제표를 작성하는 주권상장법인이 사업보고서, 분기ㆍ반기보고서를 제출하는 경우에 한함)연결대상 종속회사 현황(요약)

1-1. 연결대상회사의 변동내용

2. 회사의 법적ㆍ상업적 명칭

당사의 명칭은 '주식회사 실리콘투'입니다. 영문으로는 'SILICON2 Co., Ltd.'이라 표기하며, 약식으로는 '㈜실리콘투'라고 표기합니다

3. 설립일자 및 존속기간

당사는 2002년 1월 19일에 설립되었습니다. 당사는 별도의 존속기한을 정하고 있지 않습니다.

4. 본사의 주소, 전화번호, 홈페이지 주소

5. 회사사업 영위의 근거가 되는 법률

당사는 본 보고서 제출일 현재 해당사항 없습니다.

6. 중소기업 등 해당 여부

실리콘투_중소기업확인서(2025.04.08)_1.jpg 실리콘투_중소기업확인서(2025)

7. 대한민국에 대리인이 있는 경우에는 이름(대표자), 주소 및 연락처

당사는 본 보고서 제출일 현재 해당사항 없습니다.

8. 주요 사업의 내용(주요제품 및 서비스 등을 포함한다) 및 향후 추진하려는 신규사업에 관한 간략한 설명 당사는 K-Beauty 브랜드를 자사 플랫폼인 'Stylekorean.com'을 통하여 전세계 약 175여개의 국가에 E-Commerce 역직구 판매 및 기업 고객에게 수출하고 해외 지사 및 물류센터를 기반으로 한 유통 사업을 영위하고 있습니다.

9. 신용평가에 관한 사항

당사는 본 보고서 제출일 현재 해당사항 없습니다.

10. 「상법」 제290조에 따른 변태설립사항

당사는 본 보고서 제출일 현재 해당사항 없습니다.

11. 회사의 주권상장(또는 등록

ㆍ 지정) 및 특례상장에 관한 사항

Transcribed verbatim from the sentences the filer wrote in the fiscal 2025 business report (received 2026.03.20), tables and figures omitted.

  • The summary is written separately from the filed text and is not the filer's wording, so it may phrase things differently from or omit parts of the original, which is shown alongside for checking.
  • The company introduction reproduces the sentences the filer wrote in its business report, with tables, figures and the sentences that point to other sections of the report omitted, and the accuracy of their content has not been separately verified.

VaR

5.09%
[3.31%, 7.26%] · As of 2026-10-02
VaR by window

The headline's measure for each of the three windows on one scale, the dot being the estimate and the bar its interval. The windows are nested and share their observations, so the three readings are not three independent measurements. The selected window is highlighted.

Daily return distribution

The issue's daily returns over the chosen window counted into equal-width bins. The vertical lines mark the VaR and cVaR above on the loss side. The published VaR sample applies exclusion rules for halts and first sessions that this raw daily series does not, so the bars and the marks can differ slightly at the edges.

Drawdown

Deepest drawdown 43.9% (2026-06-26). How far below its previous peak the issue stood each day over the chosen window, a description of the path already travelled.

If these numbers are unfamiliarThere is a guide that walks through VaR, cVaR and annualized volatility in plain language.Read the guide

Characteristic line

0.43
Beta [0.30, 0.57] · KOSDAQ150 · As of 2026-10-08
Intercept
-0.068%[-0.489%, +0.353%]
R squared
0.15
Observations
252
Trading-time corrected beta
0.24[0.02, 0.46]
252-day rolling beta

A 252-day window rolled one day at a time over the longest daily span of the characteristic line. It shows when the beta against the KOSDAQ150 and the annualized volatility of the issue's excess return rose and fell, and unlike the headline figures above it carries no interval.

252-day rolling annualized volatility

Each point is one period's index excess return and issue excess return, and the line is the regression fitted to those points. The risk-free rate is the certificate of deposit rate.

Financials

202020212022202320242025TTM
RevenueKRW 100M9941,3101,6533,4296,91511,16313,545
Revenue growth%—31.7926.16107.45101.6961.42—
Operating incomeKRW 100M80881424781,3762,0542,530
Operating income growth%—9.0662.57235.75187.7649.27—
Net incomeKRW 100M57831123801,2071,6862,209
Net income growth%—44.4135.15240.75217.6239.63—
Attributable to ownersKRW 100M————1,2071,6862,209
Attributable to minoritiesKRW 100M—————0—
Operating margin%8.086.698.6213.9419.8918.4018.68
Net margin%5.756.306.7511.0917.4615.1016.31
ROENot applicableNot applicableNot applicableNot applicableNot applicableNot applicableNot applicable
ROA%10.808.488.6317.6626.3823.7622.90
Debt ratio%48.6412.8634.0659.5274.9955.0940.00
Current ratio%266.141,065.26256.00183.87156.91454.55322.42
Quick ratio%144.87728.25156.0178.0079.84207.77119.14
Reserve ratio%———333.33728.121,274.061,959.08
Free cash flowKRW 100M————-156-57—
FCF margin%————-2.26-0.51—
OCF conversion%101.3630.0588.27-48.6049.800.68—
Capex to revenue%————10.960.62—
Inventory daysdays—69.681.785.889.3105.8—
Payable daysdays————0.7——
EPSKRW6926151866311,9902,7563,368
PERx—31.3813.2012.2216.4314.029.40
BPSNot applicableNot applicableNot applicableNot applicableNot applicableNot applicableNot applicable
PBRNot applicableNot applicableNot applicableNot applicableNot applicableNot applicableNot applicable
Dividend per shareNot applicableNot applicableNot applicableNot applicableNot applicableNot applicableNot applicable

Consolidated basis

Profit flowKRW 100M

Revenue
11,163
Cost of sales
7,695
Gross profit
3,468
Operating income
2,054
SG&A expenses
1,414
Non-operating income
113
Profit before tax
2,167
Net income
1,686
Income tax expense
481

This diagram traces where revenue goes at each step on its way to net income, using the filed amounts as they are. The non-operating result is taken as the difference between profit before tax and operating income and is shown as income or expense by its sign, and whatever a step's items leave unexplained is shown separately as other.

Revenue compositionKRW 100M

Margins%

Cash flow by activityKRW 100M

Balance sheet compositionKRW 100M

Debt ratio%

The left bar splits assets into current and non-current and the right bar splits the financing of those assets into liabilities and equity, so the two bars stand at the same height.

Quarterly resultsKRW 100M

Year-on-year growth%

Each quarterly bar is that quarter's three months and is never mixed with an annual figure. The growth rate is computed only where the same quarter a year earlier is also shown here, and is left blank when the base was a loss.

Cash conversion cycledays

Free cash flow breakdownKRW 100M

Inventory days and receivable days stack upward, payable days hang downward, and the cash conversion cycle they net to is drawn as the line. Each day count uses the average balance with the prior year, so the oldest year is not drawn. A day count whose line was not filed is left out, and the cycle is shown only for years that carry all three.

Free cash flow is cash from operating activities less spending on property, plant and equipment, and all three bars keep the sign as filed.

Owners' net margin%

Asset turnoverx

Financial leveragex

ROE%

ROE is the product of the owners' net margin, asset turnover and financial leverage. All three use period-end balances as denominators, and profit and equity are on the owners' basis, so the product matches the ROE in the table.

Financial statements

Balance sheet

202020212022202320242025
5299741,2922,1534,5787,094
1731113288031,9622,520
3568639641,3502,6164,574

Income statement

202020212022202320242025
9941,3101,6533,4296,91511,163
80881424781,3762,054
741031434811,4872,167
57831123801,2071,686
Basic earnings per shareKRW692615*1866311,9902,756
Diluted earnings per shareKRW692615*176*6231,9812,714
51891163811,2631,685

Cash flow statement

202020212022202320242025
Net incomefrom the income statement57831123801,2071,686
Total adjustments to operating cash flowcomputed1-58-13-565-606-1,674
582598-18560111
-107-294-201-184-721-429
85339156329808336
Cash at beginning of periodKRW 100M5691161212172860
91161212172860773
Net change in cash and cash equivalentsKRW 100M367051-40688-87

In the latest fiscal year operating and financing activities brought cash in while investing activities spent it.

A year whose own filing is absent is filled from the restated comparative in the following filing, and is marked as such. Operating indicators outside the statements, such as order backlogs, and audit opinions are not covered here, and per-share figures follow the filed values without retroactive adjustment for share splits.

Transcribed verbatim from the sentences the filer wrote in the fiscal {year} business report (received {date}), with tables, figures and cross-references to other sections omitted.

The newest annual filing shown was received on 2026.03.20.

Audit opinion

Fiscal yearOpinionAuditorFiscal year end
2025적정의견Term 24신우회계법인2025-12-31
2024적정의견Term 23신우회계법인2025-12-31
2023적정의견Term 22신우회계법인2025-12-31
2022적정Term 21신우회계법인2022-12-31
2021적정Term 20신우회계법인2022-12-31
2020적정Term 19성현회계법인2022-12-31

The auditor's name and the opinion are transcribed verbatim from the filed audit report, and the wording follows the filer. A fiscal year shown twice means the filing carried two entries that the source does not distinguish.

Korean audit opinions come in four kinds, where an unqualified opinion (적정) finds the statements fairly presented, a qualified opinion (한정) does so except for a stated matter, an adverse opinion (부적정) finds them not fairly presented, and a disclaimer of opinion (의견거절) means the auditor could not obtain enough evidence to form a view.

Valuation

Valuation multiplesx

PER and PBR divide each period's closing price by the per-share figure filed for that same period, and a loss period is left blank. The quarterly view is a multiple of quarterly EPS.

PER bandKRW

The price is the adjusted close and each band line multiplies the EPS of the latest completed fiscal year by a fixed multiple. The previous year's EPS stays in force until the next fiscal year ends, and the multiples divide the range between the lowest and highest annual PER on record into equal steps.

Valuation models

Five models priced under one set of assumptions, set beside the current price, with how each has moved by fiscal year.

Assumptions

Risk-free rate10-year treasury yield · 2026-10-084.40%
BetaDaily 3Y0.57
%
%
Cost of equity7.26%
Weighted average cost of capital—
Initial growth2.0%
Effective tax rate22.2%
Base fiscal year2025
Current priceKRW35,450

The risk premium and the terminal growth rate are adjustable assumptions, and the rest follow from the data and the formulas.

ModelModel priceKRWVersus current price
Gordon growth modelNo dividend
Dividend discount model DDMNo dividend
Discounted cash flow FCFFBase-year cash flow not positive
Discounted cash flow FCFEBase-year cash flow not positive
Residual income model RIMNo book value or return on equity
The table prices the newest fiscal year's accounts at today's treasury yield and the current price.

Dividend and residual income familyKRW

Discounted cash flow familyKRW

Each fiscal year's figures use that year's accounts and the treasury yield at its period end, with beta held at its current value, and splits or par changes are restated to the current share basis.

How the figures are calculated

Each model's formula is shown in symbols and then with this issue's own numbers substituted, step by step. Changing a value in the assumptions panel changes the numbers here too. Firm-level amounts are in hundred million won and per-share values in won.

Cost of equity

r=rf+β×ERPr = r_f + \beta \times \mathit{ERP}

r = 4.40% + 0.57 × 5.00% = 7.26%

Initial growth

g1=max⁡{ROE×(1−payout), 0},gt=g1+(gT−g1) t−1N−1g_1 = \max\{\mathit{ROE} \times (1 - \text{payout}),\,0\},\qquad g_t = g_1 + (g_T - g_1)\,\frac{t-1}{N-1}

g_1 = g_T = 2.00%

The cost of equity is the risk-free rate plus beta times the equity risk premium. Initial growth is the newest fiscal year's return on equity times its retention ratio, floored at zero, and falls by equal steps from that value in the first year to the terminal rate in the fifth. Only the Gordon model grows at the terminal rate from the start. Discounted cash flow starts from operating cash flow less capital expenditure, where FCFF adds after-tax interest paid and discounts at the weighted average cost of capital, and FCFE adds net borrowing and discounts at the cost of equity. The residual income model adds to book value per share the present value of earnings above the equity charge.

Other issues on the same market

Neighbours in the market capitalisation order.

See the full KOSDAQ list