[저평가 리포트] 오에스피, PB 확대에 흑자 전환…남은건 밸류업

OSPI's shift to high-margin private brand sales demonstrates a practical turnaround strategy for undervalued manufacturers, achieving Q1 profitability through operational efficiency and digital marketing optimization. The combination of 13.7% SG&A cost reduction and expanded PB margins, paired with stock consolidation for valuation enhancement, reflects how KOSDAQ companies are responding to tightening listing requirements. Sustained PB growth and export market expansion will be critical to determining whether this restructuring creates genuine shareholder value.