South Korea's Haesung DS (KOSDAQ: 195870) and BH (KRX: 090460), both key players in the PCB and semiconductor packaging sectors, posted weaker second-quarter earnings despite some revenue resilience.

South Korean PCB and semiconductor packaging specialist Haesung DS posted revenue of KRW 157.4 billion (USD 117 million) in the second quarter, up 2.5% from a year earlier, according to a regulatory filing on August 6. However, operating profit fell 54.3% to KRW 8.2 billion, while net income swung to a loss, reflecting worsening profitability.

For the first half of 2025, Haesung DS reported revenue of KRW 294.9 billion, operating profit of KRW 8.6 billion, and net profit of KRW 100 million—a 99.6% year-on-year drop in net income. The company noted that the figures are based on preliminary, unaudited K-IFRS consolidated results and may change after audit completion.

BH Co., a flexible PCB manufacturer, announced on August 4 that it generated consolidated Q2 revenue of KRW 389.7 billion and operating profit of KRW 16.0 billion, down 16.81% and 48.83% year-on-year, respectively. Despite the decline, its operating profit exceeded the market consensus of KRW 12.7 billion by 25.98%.