SM BEXEL Maintains Stable Financials and High Affiliate Ownership (88.01%) as Part of SM Group
SM BEXEL, a subsidiary of SM Group under Chairman Woo Oh-hyun, manufactures auto engine parts, batteries, and electric bicycles
As of last fiscal year, total assets of 100.2B KRW, liabilities 30.0B KRW, equity 70.2B KRW, debt ratio 42.78%, indicating stable financial structure
Annual revenue of 150.3B KRW, operating profit 1.6B KRW, net income 1.7B KRW; profitability is modest but not negative
Major shareholders are affiliates (SM Hiplus 50.61%, SM Shipping 22.45%, etc.) holding 88.01% total, with retail investors at 11.99% — stable governance
Treasury shares: 145,492 shares (0.13%); no separate shareholder return policy disclosed
Board consists of 3 inside directors (Yoo Byung-sun, Choi Se-hwan, Woo Oh-hyun) and 3 outside directors (Min Chul-kyu, Huh Sim-duk, Oh Se-hwa); operates a Transparency Management Committee
Intra-group goods/services transactions amount to only 29M KRW (sales), negligible relative to total revenue; low internal transaction exposure
A 6M KRW product sale to a public-interest corporation (Dongshin Education Foundation) is noted; no unusual items
[AI Summary]This routine annual disclosure indicates no material change in SM BEXEL's financials or governance, thus likely neutral for stock price. However, the 88% affiliate ownership may limit minority shareholder voting rights, a risk factor to consider.
KOSPI Filing Information
Filing: Large Enterprise Group Status Disclosure [Annual And First Quarter Use (Individual Company)]