Korea SPAC 2 (206400) - Net Assets
Based on the latest financial reports, Korea SPAC 2 (206400) has net assets worth ₩67.97 Billion KRW (≈ $46.06 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₩73.82 Billion ≈ $50.02 Million USD) and total liabilities (₩5.85 Billion ≈ $3.96 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Korea SPAC 2 (206400) strategic investment index to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₩67.97 Billion |
| % of Total Assets | 92.08% |
| Annual Growth Rate | 12.32% |
| 5-Year Change | -15.34% |
| 10-Year Change | 329.23% |
| Growth Volatility | 123.78 |
Korea SPAC 2 - Net Assets Trend (2015–2025)
This chart illustrates how Korea SPAC 2's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see Korea SPAC 2 stock valuation.
Annual Net Assets for Korea SPAC 2 (2015–2025)
The table below shows the annual net assets of Korea SPAC 2 from 2015 to 2025. Also explore 206400 shareholders equity momentum to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ₩71.85 Billion ≈ $48.69 Million |
-24.54% |
| 2024-12-31 | ₩95.22 Billion ≈ $64.53 Million |
+19.17% |
| 2023-12-31 | ₩79.90 Billion ≈ $54.15 Million |
+14.24% |
| 2022-12-31 | ₩69.94 Billion ≈ $47.40 Million |
-17.59% |
| 2021-12-31 | ₩84.87 Billion ≈ $57.51 Million |
+68.16% |
| 2020-12-31 | ₩50.47 Billion ≈ $34.20 Million |
+49.43% |
| 2019-12-31 | ₩33.77 Billion ≈ $22.89 Million |
+397.62% |
| 2018-12-31 | ₩6.79 Billion ≈ $4.60 Million |
-48.79% |
| 2017-12-31 | ₩13.25 Billion ≈ $8.98 Million |
-20.82% |
| 2016-12-31 | ₩16.74 Billion ≈ $11.34 Million |
-25.55% |
| 2015-12-31 | ₩22.48 Billion ≈ $15.24 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Korea SPAC 2's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 2192103832000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | ₩94.42 Billion | 131.11% |
| Total Equity | ₩72.02 Billion | 100.00% |
Korea SPAC 2 Competitors by Market Cap
The table below lists competitors of Korea SPAC 2 ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Primech Holdings Ltd. Ordinary Shares
NASDAQ:PMEC
|
$17.24 Million |
|
Iflex Flexible Packaging, S.A.
MC:IFLEX
|
$17.25 Million |
|
Foxx Development Holdings Inc.
NASDAQ:FOXX
|
$17.25 Million |
|
Wicaksana Overseas International
JK:WICO
|
$17.25 Million |
|
Drillcon AB
ST:DRIL
|
$17.23 Million |
|
Netel Holding AB
ST:NETEL
|
$17.23 Million |
|
Korea Information Engineering Services Co. Ltd
KQ:039740
|
$17.23 Million |
|
Primega Group Holdings Limited Ordinary Shares
NASDAQ:PGHL
|
$17.22 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Korea SPAC 2's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 95,215,663,260 to 72,015,507,280, a change of -23,200,155,980 (-24.4%).
- Net loss of 23,818,435,460 reduced equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₩-23.82 Billion | -33.07% |
| Other Changes | ₩618.28 Million | +0.86% |
| Total Change | ₩- | -24.37% |
Book Value vs Market Value Analysis
This analysis compares Korea SPAC 2's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.35x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | ₩2309.85 | ₩678.00 | x |
| 2017-12-31 | ₩1613.21 | ₩678.00 | x |
| 2018-12-31 | ₩747.43 | ₩678.00 | x |
| 2019-12-31 | ₩2027.72 | ₩678.00 | x |
| 2020-12-31 | ₩2269.55 | ₩678.00 | x |
| 2021-12-31 | ₩3105.03 | ₩678.00 | x |
| 2022-12-31 | ₩2425.63 | ₩678.00 | x |
| 2023-12-31 | ₩2654.56 | ₩678.00 | x |
| 2024-12-31 | ₩2538.47 | ₩678.00 | x |
| 2025-12-31 | ₩1919.95 | ₩678.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Korea SPAC 2 utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -33.07%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -498.84%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 1.10x
- Recent ROE (-33.07%) is above the historical average (-42.54%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | -37.68% | -41.18% | 0.80x | 1.15x | ₩-10.56 Billion |
| 2016 | -39.66% | -32.76% | 1.00x | 1.21x | ₩-8.31 Billion |
| 2017 | -92.04% | -64.58% | 1.06x | 1.34x | ₩-13.53 Billion |
| 2018 | -210.94% | -95.37% | 0.61x | 3.65x | ₩-15.00 Billion |
| 2019 | 5.56% | 11.77% | 0.36x | 1.31x | ₩-1.50 Billion |
| 2020 | -25.56% | -137.16% | 0.13x | 1.46x | ₩-17.94 Billion |
| 2021 | 10.18% | 40.97% | 0.16x | 1.53x | ₩150.49 Million |
| 2022 | -31.25% | -100.27% | 0.22x | 1.45x | ₩-28.85 Billion |
| 2023 | -9.87% | -79.48% | 0.08x | 1.54x | ₩-15.87 Billion |
| 2024 | -3.58% | -13.48% | 0.24x | 1.10x | ₩-12.93 Billion |
| 2025 | -33.07% | -498.84% | 0.06x | 1.10x | ₩-31.02 Billion |
Industry Comparison
This section compares Korea SPAC 2's net assets metrics with peer companies in the Electronic Gaming & Multimedia industry.
Industry Context
- Industry: Electronic Gaming & Multimedia
- Average net assets among peers: $450,077,993,789
- Average return on equity (ROE) among peers: 9.77%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Korea SPAC 2 (206400) | ₩67.97 Billion | -37.68% | 0.09x | $17.23 Million |
| Barunson Entertainment & Arts Corporation (035620) | $77.07 Billion | -10.46% | 0.36x | $7.76 Million |
| NCsoft Corp (036570) | $191.18 Billion | 27.78% | 0.30x | $2.69 Billion |
| HANBIT SOFT Inc (047080) | $15.55 Billion | 0.00% | 2.47x | $18.32 Million |
| Actoz Soft Co.Ltd (052790) | $117.07 Billion | -6.06% | 0.28x | $31.13 Million |
| JOYCITY Corporation (067000) | $62.25 Billion | 10.62% | 0.22x | $51.87 Million |
| Com2uS Corporation (078340) | $1.05 Trillion | -10.27% | 0.57x | $265.64 Million |
| SundayToz Corp (123420) | $85.27 Billion | 56.73% | 0.29x | $46.38 Million |
| Nhn Entertain (181710) | $1.51 Trillion | 0.83% | 0.22x | $1.16 Billion |
| DoubleU Games Co Ltd (192080) | $1.20 Trillion | 12.46% | 0.08x | $757.82 Million |
| Devsisters corporation (194480) | $195.34 Billion | 16.02% | 0.04x | $110.87 Million |
About Korea SPAC 2
BENO TNR, Inc. engages in interior design, construction, robot, and bio businesses. It engages in the designing, manufacturing, and construction of shading systems, eco-friendly flooring, and radiant heating panels applied to various buildings. It also provides XoMotion, an exoskeleton wearable robot that supports lower body movements; and develops medicine through epigenetic modification. BENO T… Read more