140860
파크시스템스
Source: dsi_quarterly · analyst_consensus (internal DB). DSI from quarterly filings; consensus as of collection.
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Park Systems
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Notes
Global leader in industrial AFM with dominant share in semiconductor-grade AFM systems, benefiting from rising demand for advanced-node metrology (EUV, HBM, advanced packaging). Expanding into in-line process AFM as nodes shrink below 3nm, where traditional CD-SEM struggles. Key risk is concentration in capex-sensitive memory customers and competition from optical/e-beam metrology alternatives from KLA and Applied Materials.
The company has completed the issuance of its 2nd unregistered, interest-bearing, unsecured, non-detachable private bonds with warrants (BW), which qualify as hybrid capital securities. The total issuance amount is KRW 100 billion, with payment settled on June 8, 2026. The bonds will not be listed. As these are classified as hybrid capital securities, they are recognized as equity-like capital rather than pure debt, helping strengthen the company's capital structure without immediate share dilution. The board originally approved the issuance on May 21, 2026.
Samsung Asset Management filed an abbreviated large-holding report disclosing that its stake decreased from 350,152 shares (5.00%) to 201,905 shares (2.89%), a reduction of 148,247 shares (-2.11 percentage points) as of May 12, 2026. The change was triggered by trading activity, with the holding purpose declared as simple investment (no management participation intent). The reported position includes 530 shares (0.01%) entrusted to Samsung Active Asset Management. Detailed transaction records show a mix of on-market purchases and ETF setup/redemption-related movements at prices around KRW 258,000–271,125. Because the stake fell below the 5% threshold, this is the institutional shareholder's final mandatory disclosure unless its holding rises back above the reporting trigger.
The company decided to issue KRW 100 billion of private, non-guaranteed, non-separable bonds with warrants, structured as hybrid capital securities (perpetual-style) with a 30-year maturity (June 8, 2056) and 0.0% coupon. Proceeds will fund facilities (KRW 40B), working capital (KRW 20B), and acquisition of other corporations' securities (KRW 40B). The warrant exercise price is KRW 267,747 per share at 100% of the base price, potentially issuing up to 373,486 new common shares — 5.34% of outstanding stock. The issuer holds an early redemption right starting 3 years after issuance, and notably the exercise price will NOT be adjusted downward for share price declines (no refixing).
The company has resolved to issue KRW 100 billion in unregistered, coupon-bearing, unsecured, non-detachable private bonds with warrants (BW) qualifying as hybrid capital securities. Proceeds will fund facility investment (KRW 40B), operating capital (KRW 20B), and acquisition of other companies' securities (KRW 40B). The bonds carry a 0.0% coupon and 0.0% maturity yield with a 30-year maturity (June 8, 2056), but a step-up clause adds 3.0% compounded annually after year 3, with an additional 1.0% added each subsequent year. The issuer holds a call option exercisable from year 3 onward (and quarterly thereafter), as well as a separate call right tied to accounting standard changes; bondholders have no put option. Maturity can be extended at the issuer's discretion, supporting equity classification under K-IFRS.
Park Systems has announced an in-person Investor Relations Day to be held on May 29, 2026, from 15:00 to 16:30 KST at its headquarters in Gwacheon, Gyeonggi-do. The event is open exclusively to domestic investors who pre-register via the provided Google Forms link, with registration closing on May 21 at 18:00. Management will present updates on business performance and outlook, followed by a Q&A session. IR materials will be posted on the Korea Exchange disclosure platform (KRX KIND) on May 28, one day prior to the event. This is a routine transparency-focused engagement with no indication of extraordinary announcements.
Park Systems filed its Q1 2026 quarterly report covering January 1 to March 31, 2026, its 30th fiscal year. The company relocated its headquarters from Suwon to Gwacheon during the quarter, while maintaining factory branches in Suwon and Hwaseong. Two new outside directors (Nam Tae-hee, Cho Su-in) were appointed at the March 26 AGM, replacing two retiring directors. Total issued shares rose modestly to 6,997,557 common shares from 6,996,477 at year-end 2025, and the company holds 43,327 treasury shares (0.62% of issued). KIS Report assigned a BBB- credit rating on April 20, 2026.
Park Systems' board approved the disposal of 732 treasury common shares, valued at approximately KRW 218.5 million based on the May 12, 2026 closing price of KRW 298,500. The shares will be transferred from the company's treasury account to long-tenured employees and executives as Restricted Stock Unit (RSU) grants whose vesting conditions have been met. This is not an open-market sale but a direct account transfer, so there is no impact on market float or trading volume. The disposal represents only 0.01% of total shares outstanding, making dilution effects negligible. The disposal period runs from May 14, 2026 to August 13, 2026, with KB Securities acting as the brokerage intermediary.
Park Systems outside director Park Ki-jun filed an initial report of ownership in specified securities, disclosing 1,000 common shares (0.01% of outstanding) acquired through a stock option exercise on April 30, 2026. The exercise price was KRW 163,040 per share, and the report notes that share payment has been completed with listing procedures still in progress. This is a small, routine insider acquisition tied to equity compensation rather than open-market buying, and the stake is immaterial relative to Park Systems' 6,997,557 total shares outstanding. The filing signals director alignment with shareholders but carries limited informational value about company fundamentals or near-term outlook.
Park Systems will hold an Investor Relations event on May 12, 2026, at the Shilla Hotel in Seoul, participating in the Samsung Securities Global Conference. The event targets both domestic and international institutional investors and runs from 10:00 to 15:50 local time. Management will provide updates on business performance and current operations. IR materials will be available on the KRX disclosure system (kind.krx.co.kr) starting May 11, 2026. This is a routine investor outreach event without new financial disclosures announced in advance.