📊 LS: Orders Pile Up, but the Chart Sends Mixed Signals - 2026.10.16

Onion’s here~ Let’s take another look at the power equipment scene together today. Orders keep pouring in, but why is the stock such a roller coaster? ☕

Orders Keep Coming, Numbers Keep Adding Up

LS Electric has signed a contract with Bloom Energy to supply switchgear and distribution transformers worth 185,300,000,000 KRW ^[1]. The equipment is headed to a U.S. Big Tech data center being built in Pennsylvania ^[2], so it’s certainly the kind of news the market can applaud. The cumulative order value was also reported to have topped 669,000,000,000 KRW ^[1]. At the group level, LS Group’s order backlog has reportedly exceeded 19,000,000,000,000 KRW ^[3], so there’s no doubt the business has grown substantially.

So Why Does the Chart Look Like This?

The issue is the stock price. The October 15 closing price was ₩217,000, down a hefty -12.32% in a single day. On October 16, it closed at ₩228,000, rebounding +2.70%. Orders are heating up, but the chart poured cold water on the excitement. Even after 30 years in the market, I have to say this is a bit of a bittersweet sight. 😅 LS Cable & System and LS Electric were highlighted as key subsidiaries driving LS’s share price ^[6]. Ultimately, the question is how subsidiary earnings feed into the value of the holding company.

Different Views on Wall Street—Read Them as Conditional

Korea Investment & Securities expects earnings growth to continue as LS’s power equipment orders increase ^[4]. To be clear, that’s the brokerage’s forecast, not a plan confirmed by the company. Daily Invest also examined whether LS Electric could see its stock rebound on switchgear orders for U.S. Big Tech data centers ^[5]. That article raises the possibility of a rebound; it doesn’t say one is guaranteed. Onion sees a clear bullish scenario on the order front, but we’ll need to check the numbers to see how much of that translates into earnings.

Questions That Remain

There are three things to watch. First, how quickly order value shows up in earnings. Second, whether the chart catches up with the order news. Third, how much subsidiary earnings translate into the holding company’s value. 🚀 Even though I’m usually an aggressive investor, I’ll leave these questions open for now. Could the moment these three things align be the moment the game changes?

📰 Reference News (6)

1

[Business Leaders] LS Group ⑫ | Expanding AI Data Center and Subsea Cable Orders… Accelerating Global Power Market Push

네이버뉴스 · 2026.10.15

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2

LS Electric to Supply Distribution Solutions Worth 1853 Billion to U.S. Big Tech Data Center... Signs Deal with Bloom Energy

네이버뉴스 · 2026.10.14

📰 View original

3

LS Group Speeds Up U.S. Power Infrastructure Push… Order Backlog Tops 19,000,000,000,000 KRW - The Tracker

네이버뉴스 · 2026.10.16

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5

[Stock Focus] LS Electric: Stock Rebound on Switchgear Orders for U.S. Big Tech Data Centers? - Daily Invest

데일리인베스트 · 2026.10.15

📰 View original