[Edaily Reporter Kwon Oh Seok ] As the artificial intelligence (AI) market flourishes and demand for key materials used in high-bandwidth memory (HBM) surges, analysts suggest that KOSDAQ-listed company Sonid(060230)could enter a full-fledged turnaround phase, leveraging its diversified business portfolio and improved financial health.

According to a technical analysis report (prepared by NICE Information Service) published by the Korea IR Association on the 5th, JK Synapse’s consolidated revenue for 2026 is estimated to reach 86.7 billion won, a 40.0% increase from the previous year (61.93 billion won).
The key driver of this sharp turnaround is the successful establishment of a new business in telecommunications equipment distribution. Analysts note that the full-year performance of subsidiary “Selector”—including its online platform “Jikphone” and nationwide brick-and-mortar stores—is now fully reflected in the company’s financials, underpinning overall revenue growth.
Notably, leveraging the stable cash flow (cash cow) generated by the new distribution business, a full-scale revaluation of the company’s core business—semiconductor process materials—is now underway. JK Synapse, which has long supplied cleaning solutions, developers, etchants, and stripping agents based on its precision formulation technology, has recently been actively pursuing the development of next-generation “stripping agents for HBM” to be used in advanced semiconductor processes, thereby positioning itself to capture the next growth opportunity.
The dramatic improvement in its financial structure, coinciding with a rebound in earnings, is another factor boosting its investment appeal. The debt-to-equity ratio, which stood at 171.6% in 2024, has been significantly reduced to 136.2% in 2025 and 123.3% in the first half of 2026, thanks to continuous capital expansion. Total capital has also expanded to approximately 72.22 billion won, and the equity ratio has risen to 44.8%, solidifying the company’s financial strength to support its high growth trajectory.
Ryu Chi-seon, a researcher at NICE Information Service, predicted, “Reducing operating losses in new businesses by cutting SG&A expenses and interest expenses, combined with improved profitability in the core semiconductor materials business, will create synergies.”