Announcement • May 28
Shinyoung Securities Co., Ltd., Annual General Meeting, Jun 19, 2026 Shinyoung Securities Co., Ltd., Annual General Meeting, Jun 19, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 16, gukjegeumyung-ro 8-gil, yeongdeungpo-gu, seoul South Korea Upcoming Dividend • Mar 23
Upcoming dividend of ₩5,000 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 06 July 2026. Trailing yield: 2.0%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩200,500, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 49x in the Capital Markets industry in South Korea. Total returns to shareholders of 310% over the past three years. New Risk • Mar 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Large one-off items impacting financial results. Declared Dividend • Feb 20
Dividend of ₩5,000 announced Shareholders will receive a dividend of ₩5,000. Ex-date: 30th March 2026 Payment date: 6th July 2026 Dividend yield will be 2.1%, which is lower than the industry average of 3.7%. Sustainability & Growth The dividend has increased by an average of 5.5% per year over the past 7 years and payments have been stable during that time. Announcement • Feb 19
Shinyoung Securities Co., Ltd. announces Annual dividend, payable on July 06, 2026 Shinyoung Securities Co., Ltd. announced Annual dividend of KRW 5000.0000 per share payable on July 06, 2026, ex-date on March 30, 2026 and record date on March 31, 2026. Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₩227,500, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 49x in the Capital Markets industry in South Korea. Total returns to shareholders of 371% over the past three years. Buy Or Sell Opportunity • Feb 13
Now 39% overvalued after recent price rise Over the last 90 days, the stock has risen 48% to ₩229,500. The fair value is estimated to be ₩165,146, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 13%. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩178,500, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 48x in the Capital Markets industry in South Korea. Total returns to shareholders of 273% over the past three years. Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩150,000, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 48x in the Capital Markets industry in South Korea. Total returns to shareholders of 217% over the past three years. Reported Earnings • Nov 11
Second quarter 2026 earnings released: EPS: ₩3,690 (vs ₩3,618 in 2Q 2025) Second quarter 2026 results: EPS: ₩3,690 (up from ₩3,618 in 2Q 2025). Revenue: ₩462.2b (down 3.6% from 2Q 2025). Net income: ₩29.6b (up 2.1% from 2Q 2025). Profit margin: 6.4% (up from 6.0% in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Oct 13
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to ₩130,900. The fair value is estimated to be ₩164,411, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 24%. Buy Or Sell Opportunity • Sep 25
Now 20% undervalued Over the last 90 days, the stock has risen 12% to ₩130,800. The fair value is estimated to be ₩164,279, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 24%. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩147,600, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 47x in the Capital Markets industry in South Korea. Total returns to shareholders of 224% over the past three years. Buy Or Sell Opportunity • Aug 26
Now 21% undervalued Over the last 90 days, the stock has risen 23% to ₩131,900. The fair value is estimated to be ₩167,676, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 24%. Reported Earnings • Aug 13
First quarter 2026 earnings released: EPS: ₩7,374 (vs ₩5,106 in 1Q 2025) First quarter 2026 results: EPS: ₩7,374 (up from ₩5,106 in 1Q 2025). Revenue: ₩651.3b (down 6.9% from 1Q 2025). Net income: ₩59.1b (up 45% from 1Q 2025). Profit margin: 9.1% (up from 5.8% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 07
Adforus Co., Ltd. completed the acquisition of Shinyoung HappyTomorrow No.8 Special Purpose Acquisition Company (KOSDAQ:A430220) from Shinyoung Securities Co., Ltd. (KOSE:A001720). Adforus Co., Ltd. agreed to acquire Shinyoung HappyTomorrow No.8 Special Purpose Acquisition Company (KOSDAQ:A430220) from Shinyoung Securities Co., Ltd. (KOSE:A001720) for KRW 1.6 billion on January 23, 2025. The consideration consists of 0.78 million common equity of Shinyoung HappyTomorrow No.8 Special Purpose Acquisition Compan. The transaction will be carried out at merger ratio of 1:0.1152738. As part of consideration, an undisclosed value is paid towards common equity of Shinyoung HappyTomorrow No.8 Special Purpose Acquisition Company. Adforus Co., Ltd. will utilize the deposits held by Shinyoung HappyTomorrow No.8 Special Purpose Acquisition Company for investment and enjoy the effect of being listed on the KOSDAQ market.
The expected completion of the transaction is June 30, 2025.
Adforus Co., Ltd. completed the acquisition of Shinyoung HappyTomorrow No.8 Special Purpose Acquisition Company (KOSDAQ:A430220) from Shinyoung Securities Co., Ltd. (KOSE:A001720) on August 5, 2025. Buy Or Sell Opportunity • Jul 28
Now 21% undervalued Over the last 90 days, the stock has risen 51% to ₩129,000. The fair value is estimated to be ₩163,582, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 20%. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improves as stock rises 39% After last week's 39% share price gain to ₩166,500, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 13x in the Capital Markets industry in South Korea. Total returns to shareholders of 273% over the past three years. New Risk • Jul 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 9.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.7% average weekly change). Large one-off items impacting financial results. Reported Earnings • Jun 17
Full year 2025 earnings released: EPS: ₩13,618 (vs ₩17,818 in FY 2024) Full year 2025 results: EPS: ₩13,618 (down from ₩17,818 in FY 2024). Revenue: ₩1.90t (down 12% from FY 2024). Net income: ₩108.6b (down 24% from FY 2024). Profit margin: 5.7% (down from 6.6% in FY 2024). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ₩131,600, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 14x in the Capital Markets industry in South Korea. Total returns to shareholders of 182% over the past three years. Announcement • May 29
Shinyoung Securities Co., Ltd., Annual General Meeting, Jun 20, 2025 Shinyoung Securities Co., Ltd., Annual General Meeting, Jun 20, 2025, at 09:01 Tokyo Standard Time. Location: conference room, 16, gukjegeumyung-ro 8-gil, yeongdeungpo-gu, seoul South Korea Valuation Update With 7 Day Price Move • May 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩94,000, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 12x in the Capital Markets industry in South Korea. Total returns to shareholders of 88% over the past three years. Reported Earnings • Feb 18
Third quarter 2025 earnings released: EPS: ₩1,140 (vs ₩3,135 in 3Q 2024) Third quarter 2025 results: EPS: ₩1,140 (down from ₩3,135 in 3Q 2024). Revenue: ₩433.1b (down 15% from 3Q 2024). Net income: ₩9.13b (down 64% from 3Q 2024). Profit margin: 2.1% (down from 4.9% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Jan 24
Adforus Co., Ltd. agreed to acquire Shinyoung HappyTomorrow No.8 Special Purpose Acquisition Company (KOSDAQ:A430220) from Shinyoung Securities Co., Ltd. (KOSE:A001720) Adforus Co., Ltd. agreed to acquire Shinyoung HappyTomorrow No.8 Special Purpose Acquisition Company (KOSDAQ:A430220) from Shinyoung Securities Co., Ltd. (KOSE:A001720) for KRW 1.6 billion on January 23, 2025. The consideration consists of 0.78 million common equity of Shinyoung HappyTomorrow No.8 Special Purpose Acquisition Compan. The transaction will be carried out at merger ratio of 1:0.1152738. As part of consideration, an undisclosed value is paid towards common equity of Shinyoung HappyTomorrow No.8 Special Purpose Acquisition Company. Adforus Co., Ltd. will utilize the deposits held by Shinyoung HappyTomorrow No.8 Special Purpose Acquisition Company for investment and enjoy the effect of being listed on the KOSDAQ market.
The expected completion of the transaction is June 30, 2025. Reported Earnings • Nov 13
Second quarter 2025 earnings released: EPS: ₩3,618 (vs ₩3,858 in 2Q 2024) Second quarter 2025 results: EPS: ₩3,618 (down from ₩3,858 in 2Q 2024). Revenue: ₩479.6b (down 4.2% from 2Q 2024). Net income: ₩29.0b (down 6.1% from 2Q 2024). Profit margin: 6.0% (down from 6.2% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. New Risk • Aug 15
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.8% Last year net profit margin: 12% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (68% increase in shares outstanding). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.8% net profit margin). Reported Earnings • Jun 15
Full year 2024 earnings released: EPS: ₩17,818 (vs ₩11,893 in FY 2023) Full year 2024 results: EPS: ₩17,818 (up from ₩11,893 in FY 2023). Revenue: ₩2.16t (up 25% from FY 2023). Net income: ₩142.6b (up 48% from FY 2023). Profit margin: 6.6% (up from 5.6% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • May 31
Shinyoung Securities Co., Ltd., Annual General Meeting, Jun 21, 2024 Shinyoung Securities Co., Ltd., Annual General Meeting, Jun 21, 2024, at 09:00 Tokyo Standard Time. Location: conference room, 16, gukjegeumyung-ro 8-gil, yeongdeungpo-gu, seoul South Korea New Risk • Apr 27
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 85% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (85% increase in shares outstanding). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Announcement • Apr 11
Sky007 Co,.Ltd. completed the acquisition of Shinyoung HappyTomorrow No.7 Special Purpose Acquisition Company (KOSDAQ:A419270) from Bukook Securities Co., Ltd., Shinyoung Securities Co., Ltd. (KOSE:A001720), SJ Investment Partners Co., Ltd. and others in reverse merger transaction. Sky007 Co,.Ltd. agreed to acquire Shinyoung HappyTomorrow No.7 Special Purpose Acquisition Company (KOSDAQ:A419270) from Bukook Securities Co., Ltd. and others for KRW2.7 billion in reverse merger transaction on September 15, 2023. The transaction is expected to close on February 28, 2024.
Sky007 Co,.Ltd. completed the acquisition of Shinyoung HappyTomorrow No.7 Special Purpose Acquisition Company (KOSDAQ:A419270) from Bukook Securities Co., Ltd., Shinyoung Securities Co., Ltd. (KOSE:A001720), SJ Investment Partners Co., Ltd. and others in reverse merger transaction on April 9, 2024. New Risk • Dec 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 10% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Shareholders have been diluted in the past year (10% increase in shares outstanding). Reported Earnings • Nov 10
Second quarter 2024 earnings released: EPS: ₩3,858 (vs ₩3,939 in 2Q 2023) Second quarter 2024 results: EPS: ₩3,858 (down from ₩3,939 in 2Q 2023). Revenue: ₩500.4b (down 47% from 2Q 2023). Net income: ₩30.9b (down 3.6% from 2Q 2023). Profit margin: 6.2% (up from 3.4% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. New Risk • Sep 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 29% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Shareholders have been diluted in the past year (29% increase in shares outstanding). Reported Earnings • Aug 11
First quarter 2024 earnings released: EPS: ₩5,368 (vs ₩3,323 loss in 1Q 2023) First quarter 2024 results: EPS: ₩5,368 (up from ₩3,323 loss in 1Q 2023). Revenue: ₩583.1b (down 34% from 1Q 2023). Net income: ₩43.0b (up ₩70.3b from 1Q 2023). Profit margin: 7.4% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • Jun 17
Full year 2023 earnings released: EPS: ₩11,893 (vs ₩10,783 in FY 2022) Full year 2023 results: EPS: ₩11,893 (up from ₩10,783 in FY 2022). Revenue: ₩1.74t (down 5.5% from FY 2022). Net income: ₩96.4b (up 8.1% from FY 2022). Profit margin: 5.6% (up from 4.9% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 23
Upcoming dividend of ₩4,000 per share at 6.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 10 July 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 6.9%. Within top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (5.0%). Reported Earnings • Feb 18
Third quarter 2023 earnings released: EPS: ₩2,581 (vs ₩564 in 3Q 2022) Third quarter 2023 results: EPS: ₩2,581 (up from ₩564 in 3Q 2022). Net income: ₩20.8b (up 351% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Buying Opportunity • Aug 17
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be ₩72,195, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Earnings per share has grown by 24%. Reported Earnings • Jun 20
Full year 2022 earnings released: EPS: ₩10,783 (vs ₩22,418 in FY 2021) Full year 2022 results: EPS: ₩10,783 (down from ₩22,418 in FY 2021). Revenue: ₩1.84t (down 28% from FY 2021). Net income: ₩89.2b (down 53% from FY 2021). Profit margin: 4.9% (down from 7.5% in FY 2021). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Mar 23
Upcoming dividend of ₩4,000 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 11 July 2022. Payout ratio is on the higher end at 77% but the company is not cash flow positive. Trailing yield: 4.0%. Within top quartile of South Korean dividend payers (2.6%). Lower than average of industry peers (5.0%). Reported Earnings • Nov 13
Second quarter 2022 earnings released: EPS ₩1,897 (vs ₩4,941 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: ₩553.8b (up 13% from 2Q 2021). Net income: ₩15.6b (down 63% from 2Q 2021). Profit margin: 2.8% (down from 8.6% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 20
Full year 2021 earnings released: EPS ₩22,418 (vs ₩2,324 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₩2.54t (up 8.6% from FY 2020). Net income: ₩189.8b (up ₩169.1b from FY 2020). Profit margin: 7.5% (up from 0.9% in FY 2020). Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 4% per year. Upcoming Dividend • Mar 23
Upcoming dividend of ₩2,500 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 03 July 2021. Trailing yield: 4.3%. Within top quartile of South Korean dividend payers (2.3%). Higher than average of industry peers (3.5%). Is New 90 Day High Low • Mar 12
New 90-day high: ₩57,500 The company is up 8.0% from its price of ₩53,000 on 11 December 2020. The South Korean market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is flat over the same period. Is New 90 Day High Low • Feb 10
New 90-day high: ₩56,100 The company is up 13% from its price of ₩49,700 on 12 November 2020. The South Korean market is up 23% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Capital Markets industry, which is up 12% over the same period. Reported Earnings • Nov 12
Second quarter 2021 earnings released: EPS ₩4,941 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₩488.2b (up 39% from 2Q 2020). Net income: ₩42.1b (up ₩38.6b from 2Q 2020). Profit margin: 8.6% (up from 1.0% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 11
New 90-day high: ₩49,450 The company is up 1.0% from its price of ₩48,800 on 13 August 2020. The South Korean market is also up 1.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Capital Markets industry, which is up 2.0% over the same period. 
