New Risk • Jul 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩15.2b (US$9.95m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩17b free cash flow). Market cap is less than US$10m (₩15.2b market cap, or US$9.95m). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). Annonce • Jul 01
NEO Battery Materials Ltd. (TSXV:NBM) entered into a stock purchase agreement to acquire an additional 10% stake in Neo Battery Materials Korea Co., Ltd. from Automobile & PCB Inc. (KOSE:A015260) for approximately KRW 720 million. NEO Battery Materials Ltd. (TSXV:NBM) entered into a stock purchase agreement to acquire an additional 10% stake in Neo Battery Materials Korea Co., Ltd. from Automobile & PCB Inc. (KOSE:A015260) for approximately KRW 720 million on June 26, 2026. Upon completion, NEO Battery Materials Ltd. will own 90% stake in Neo Battery Materials Korea Co., Ltd.
The transaction remains subject to customary closing conditions, including the acceptance by the TSX Venture Exchange. New Risk • May 25
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₩17b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩17b free cash flow). Share price has been highly volatile over the past 3 months (23% average weekly change). Minor Risk Market cap is less than US$100m (₩29.0b market cap, or US$19.1m). Reported Earnings • Mar 27
Full year 2025 earnings released: ₩313 loss per share (vs ₩229 loss in FY 2024) Full year 2025 results: ₩313 loss per share (further deteriorated from ₩229 loss in FY 2024). Revenue: ₩117.5b (up 3.5% from FY 2024). Net loss: ₩14.1b (loss widened 36% from FY 2024). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Annonce • Feb 28
Automobile & PCB Inc., Annual General Meeting, Mar 31, 2026 Automobile & PCB Inc., Annual General Meeting, Mar 31, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 248, namdong-daero, namdong-gu, incheon South Korea Annonce • Feb 24
Automobile & PCB Inc. announced that it has received KRW 1 billion in funding On February 23, 2026, Automobile & PCB Inc. has closed the transaction. New Risk • Feb 20
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 10% 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 (10% average weekly change). Market cap is less than US$100m (₩21.1b market cap, or US$14.6m). Reported Earnings • Nov 19
Third quarter 2025 earnings released: ₩66.00 loss per share (vs ₩58.00 loss in 3Q 2024) Third quarter 2025 results: ₩66.00 loss per share (further deteriorated from ₩58.00 loss in 3Q 2024). Revenue: ₩30.9b (up 19% from 3Q 2024). Net loss: ₩2.99b (loss widened 15% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. New Risk • Aug 27
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South Korean stocks, typically moving 11% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Market cap is less than US$100m (₩22.6b market cap, or US$16.2m). Reported Earnings • Aug 20
Second quarter 2025 earnings released: ₩13.00 loss per share (vs ₩41.00 loss in 2Q 2024) Second quarter 2025 results: ₩13.00 loss per share (improved from ₩41.00 loss in 2Q 2024). Revenue: ₩31.7b (up 10.0% from 2Q 2024). Net loss: ₩570.9m (loss narrowed 69% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. New Risk • Jul 10
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: Major Risk Earnings have declined by 2.6% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (₩24.6b market cap, or US$18.0m). Annonce • Apr 10
Automobile & PCB Inc. announced that it expects to receive KRW 9 billion in funding from YONGSAN Co., Ltd. Automobile & PCB Inc. announced a private placement to issue 2% Series 25 Unregistered Unsecured Private Placement Convertible Bonds due April 11, 2028 for gross proceeds of KRW 9,000,000,000 on April 9, 2025. The transaction will include participation from returning investor YONGSAN Co., Ltd. The transaction has been approved by shareholders, restricted to a hold period, expected to close on April 11, 2025, 100% convertible into 18,000,000 shares at a fixed conversion price of KRW 500 from April 11, 2026 to March 11, 2028, bears 2% coupon rate, 4% maturity rate and matures on April 11, 2028. Annonce • Mar 13
Automobile & PCB Inc., Annual General Meeting, Mar 31, 2025 Automobile & PCB Inc., Annual General Meeting, Mar 31, 2025, at 09:01 Tokyo Standard Time. Location: conference room, 248, namdong-daero, namdong-gu, incheon South Korea New Risk • Nov 21
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 8.6% 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: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩6.0b free cash flow). Earnings have declined by 13% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Market cap is less than US$100m (₩29.7b market cap, or US$21.3m). Reported Earnings • Nov 20
Third quarter 2024 earnings released: ₩58.00 loss per share (vs ₩43.00 loss in 3Q 2023) Third quarter 2024 results: ₩58.00 loss per share (further deteriorated from ₩43.00 loss in 3Q 2023). Revenue: ₩25.9b (down 27% from 3Q 2023). Net loss: ₩2.60b (loss widened 36% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Annonce • Sep 09
NEO Battery Materials Ltd. (TSXV: NBM) acquired 20% stake in Neo Battery Materials Korea Co., Ltd. from Automobile & PCB Inc. (KOSE: A015260) for CAD 1.70 million. NEO Battery Materials Ltd. (TSXV: NBM) agreed to acquire 20% stake in Neo Battery Materials Korea Co., Ltd. from Automobile & PCB Inc. (KOSE: A015260) for CAD 1.708707 million on January 29, 2024. NEO acquired 0.258829 million common Shares of Neo Battery Materials Korea Co., Ltd. from Automobile & PCB Inc. Preceding the Transaction, the NEO Battery Materials Ltd. directly held 0.776487 million common Shares of Neo Battery Materials Korea Co., Ltd, representing 60% of the issued and outstanding shares of Neo Battery Materials Korea Co., Ltd. and following the closing, NEO Battery Materials Ltd now directly holds 1.035316 million Common Shares, representing 80% of the issued and outstanding shares of Neo Battery Materials Korea Co., Ltd.
NEO Battery Materials Ltd. (TSXV: NBM) completed the acquisition of 20% stake in Neo Battery Materials Korea Co., Ltd. from Automobile & PCB Inc. (KOSE: A015260) on September 7, 2024. Annonce • Mar 27
Automobile & PCB Inc. announced that it expects to receive KRW 5 billion in funding from Sangsangin Savings Bank, Sangsangin Plus Savings Bank Co.,Ltd. Automobile & PCB Inc. announced a private placement of 2nd bearer-bearing Interest-Bearing, unsecured private convertible bonds for the gross proceeds of KRW 5,000,000,000 on March 26, 2024. The bonds will be convertible into 4,042,037 shares of the company at a price of KRW 1,237 per share. The bonds will have a coupon rate of 2% and will be matured on March 28, 2027. The transaction has been approved by the shareholders of the company and it expected to close on March 28, 2024. The transaction included participation from new investors, Sangsangin Savings Bank for KRW 3,000,000,000, Sangsangin Plus Savings Bank Co.,Ltd. for KRW 2,000,000,000. New Risk • Nov 30
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 51% 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 Risks Earnings have declined by 30% per year over the past 5 years. Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Market cap is less than US$100m (₩63.6b market cap, or US$49.0m). New Risk • Nov 22
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 8.7% 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: Major Risk Earnings have declined by 29% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Shareholders have been diluted in the past year (50% increase in shares outstanding). Market cap is less than US$100m (₩74.8b market cap, or US$57.6m). Annonce • Feb 04
Automobile & PCB Inc. (KOSE:A015260) cancelled the acquisition of 5.71% stake in RN2 Technologies Co., Ltd. (KOSDAQ:A148250) from Lee, Hyo-Jong. Automobile & PCB Inc. (KOSE:A015260) agreed to acquire an additional 5.71% stake in RN2 Technologies Co., Ltd. (KOSDAQ:A148250) from Lee, Hyo-Jong for KRW 7.01 billion on October 18, 2022.
Automobile & PCB Inc. (KOSE:A015260) cancelled the acquisition of 5.71% stake in RN2 Technologies Co., Ltd. (KOSDAQ:A148250) from Lee, Hyo-Jong on February 2, 2023. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent 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: Lack of independent directors. Insufficient board refreshment. Annonce • Jun 21
Automobile & PCB Inc. announced that it has received KRW 5 billion in funding On June 20, 2022, Automobile & PCB Inc. closed the transaction. The company announced it has amended the terms of the transaction. The company will now issued series 22 of Non-guaranteed Private convertible bonds with Bearer type interest part for gross proceeds of KRW 5,000,000,000 in the transaction. The transaction included participation from K.A. Investment Association. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent 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: Lack of independent directors. Insufficient board refreshment. Annonce • Apr 14
Automobile & PCB Inc. announced that it expects to receive KRW 6 billion in funding from ADE Co., Ltd, Ando Co., Ltd Automobile & PCB Inc. announced a private placement of series 22 of Non-guaranteed Private convertible bonds with Bearer Type Interest Part for gross proceeds of KRW 6,000,000,000 on April 13, 2022. The transaction will include participation from ADE Co., Ltd for KRW 5,000,000,000 and Ando Co., Ltd for KRW 1,000,000,000. The note bears will bear interest rate of 2% and will mature on April 28, 2025. The notes are 100% convertible into 2,041,510 shares at an conversion price of KRW 2,939 per share. The bonds will start conversion from April 28, 2023 and will end on March 28, 2025. The transaction is expected to close on April 28, 2022. The transaction was approved by the board of directors of the company. The securities to be issued will have a hold period of one year. Annonce • Mar 18
Automobile & PCB Inc., Annual General Meeting, Mar 31, 2021 Automobile & PCB Inc., Annual General Meeting, Mar 31, 2021, at 09:00 Korea Standard Time. Is New 90 Day High Low • Mar 02
New 90-day low: ₩1,400 The company is down 7.0% from its price of ₩1,500 on 02 December 2020. The South Korean market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 19% over the same period. Is New 90 Day High Low • Dec 15
New 90-day high: ₩2,020 The company is up 52% from its price of ₩1,330 on 15 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 11% over the same period. Annonce • Dec 10
Automobile & PCB Inc. has completed a Follow-on Equity Offering in the amount of KRW 11.2 billion. Automobile & PCB Inc. has completed a Follow-on Equity Offering in the amount of KRW 11.2 billion.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 10,000,000
Price\Range: KRW 1120
Transaction Features: ESOP Related Offering; Rights Offering Is New 90 Day High Low • Nov 23
New 90-day high: ₩1,555 The company is up 22% from its price of ₩1,274 on 26 August 2020. The South Korean market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 16% over the same period. Is New 90 Day High Low • Oct 26
New 90-day high: ₩1,540 The company is up 20% from its price of ₩1,281 on 28 July 2020. The South Korean market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 19% over the same period. 
