New Risk • Apr 23
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: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 21% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (29% increase in shares outstanding). Market cap is less than US$100m (₩76.1b market cap, or US$51.4m). New Risk • Apr 10
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 16% 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 Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 21% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩61.7b market cap, or US$41.6m). Annonce • Mar 12
RFTech Co., Ltd., Annual General Meeting, Mar 27, 2026 RFTech Co., Ltd., Annual General Meeting, Mar 27, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 60, jugyang-daero 1763beon-gil, wonsam-myeon, cheoin-gu, gyeonggi-do, yongin South Korea Annonce • Mar 05
Osung Advanced Materials Co., Ltd. (KOSDAQ:A052420) completed the acquisition of 15.33% stake in RFTech Co., Ltd. (KOSDAQ:A061040) from RF STANDARD Co., Ltd. and Lee Jin Hyeong. Osung Advanced Materials Co., Ltd. (KOSDAQ:A052420) entered into a stock purchase agreement to acquire 15.33% stake in RFTech Co., Ltd. (KOSDAQ:A061040) from RF STANDARD Co., Ltd. and Lee Jin Hyeong for KRW 32 billion on February 26, 2026. A cash consideration of KRW 32 billion valued at KRW 6503 per share will be paid by Osung Advanced Materials Co., Ltd. As part of consideration, KRW 32 billion is paid towards common equity of RFTech Co., Ltd. Osung Advanced Materials Co., Ltd. will pay a KRW 5 billion down payment into escrow on February 26, 2026, and the KRW 26.99 billion balance into escrow by one day before the annual shareholders' meeting, with final settlement, except for KRW 1.5 billion, upon completion of meeting resolutions and other specified matters. In a repated transaction, Osung Advanced Materials Co., Ltd. will acquire stake in RFTech Co., Ltd. through a capital increase. Upon completion of the transactions, Osung Advanced Materials Co., Ltd. will hold 33.65% stake in RFTech Co., Ltd.
The expected completion of the transaction is March 27, 2026.
Osung Advanced Materials Co., Ltd. (KOSDAQ:A052420) completed the acquisition of 15.33% stake in RFTech Co., Ltd. (KOSDAQ:A061040) from RF STANDARD Co., Ltd. and Lee Jin Hyeong on March 4, 2026. New Risk • Feb 27
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 9.4% 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 (₩72.6b market cap, or US$50.4m). Annonce • Feb 27
RFTech Co., Ltd. announced that it expects to receive KRW 14.999998623 billion in funding from Osung Advanced Materials Co., Ltd. RFTech Co., Ltd. announced a private placement of 8,860,011 Common Shares of the company at a price per share of KRW 1,693 for gross proceeds of KRW 14,999,998,623 on February 26, 2026. The transaction involves participation from returning investor Osung Advanced Materials Co., Ltd. The transaction has been carried out by third-party allotment. The number of allotted shares of Ohsung Advanced Materials Co., Ltd., which participated in the decision to increase the shares, exceeds the total number of shares of the Company's largest shareholder, RF Standard Co., Ltd., and its two special related parties, as of the date of submission of this report. In addition, as of the date of submission of this report, the assignee, Ohsung Advanced Materials Co., Ltd., has signed a transfer agreement with RF Standard Co., Ltd., the largest shareholder of the Company, and one of its special related parties, involving a change in management rights. Accordingly, if the payment of the payment for the rights issue is confirmed or the management rights transfer contract is terminated, the largest shareholder of the Company may be changed to Ohsung Advanced Materials Co., Ltd. If the payment of the capital increase is completed, the total number of issued shares of the Company will be changed to 40,949,270 shares. The transaction is expected to close on March 27, 2026. Annonce • Jan 20
Access Bio, Inc. (KOSDAQ:A950130) agreed to acquire an unknown minority stake in Rfbio Co., Ltd. from RFTech Co., Ltd. (KOSDAQ:A061040) Access Bio, Inc. (KOSDAQ:A950130) agreed to acquire a 8.99% stake in Rfbio Co., Ltd. from RFTech Co., Ltd. (KOSDAQ:A061040) for KRW 20 billion on January 19, 2026. A cash consideration valued at KRW 21960 per share will be paid by Access Bio, Inc. The deal has been approved by the Board of directors of RFTech Co., Ltd. If the disposal of this subsidiary's stock and the paid-in capital increase promoted by the major subsidiary (RF Bio Co., Ltd.) are completed, the largest shareholder of RF Bio Co., Ltd. will change from RF Tech Co., Ltd. to Access Bio, Inc.
The expected completion of the transaction is March 27, 2026. Board Change • Sep 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Outside Direcctor HeeDae Jeon was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Jun 28
Busan Equity Partners Co., Ltd. and Pound Equity Partners Co., Ltd. cancelled the acquisition of 14.4% stake in RFTech Co., Ltd. (KOSDAQ:A061040) from Lee Jin Hyung and RF STANDARD Co., Ltd. Busan Equity Partners Co., Ltd. and Pound Equity Partners Co., Ltd. agreed to acquire 14.4% stake in RFTech Co., Ltd. (KOSDAQ:A061040) from Lee Jin Hyung and RF STANDARD Co., Ltd. for KRW 43.0 billion on May 2, 2025. A cash consideration of KRW 43 billion valued at KRW 9307 per share will be paid by Busan Equity Partners Co., Ltd. and Pound Equity Partners Co., Ltd. As part of consideration, KRW 43 billion is paid towards common equity of RFTech Co., Ltd. The expected completion of the transaction is June 7, 2025.
Busan Equity Partners Co., Ltd. and Pound Equity Partners Co., Ltd. cancelled the acquisition of 14.4% stake in RFTech Co., Ltd. (KOSDAQ:A061040) from Lee Jin Hyung and RF STANDARD Co., Ltd. on June 27, 2025. The termination of the contract entered into between the transferor and transferee due to the transferee's failure to pay the balance to the transferor. Annonce • Mar 18
RFTech Co., Ltd., Annual General Meeting, Mar 31, 2025 RFTech Co., Ltd., Annual General Meeting, Mar 31, 2025, at 14:00 Tokyo Standard Time. Location: conference room, 60, jugyang-daero 1763beon-gil, wonsam-myeon, cheoin-gu, gyeonggi-do, yongin South Korea Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩3,880, the stock trades at a trailing P/E ratio of 37.6x. Average trailing P/E is 19x in the Electrical industry in South Korea. Total loss to shareholders of 34% over the past three years. Annonce • Nov 29
RFTech Co., Ltd. (KOSDAQ:A061040) announces an Equity Buyback for KRW 2,000 million worth of its shares. RFTech Co., Ltd. (KOSDAQ:A061040) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares pursuant to a trust contract with Shinhan Investment & Securities Co., Ltd. The purpose of the share repurchase program is to stabilize the share price and to improve shareholder value. The share repurchase program is valid until December 1, 2025. As of November 28, 2024, the company had 866,780 shares in treasury within scope available for dividend and had 1,131 shares in treasury through other repurchase. New Risk • Sep 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Market cap is less than US$100m (₩101.1b market cap, or US$76.9m). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩2,965, the stock trades at a trailing P/E ratio of 28.1x. Average trailing P/E is 22x in the Electrical industry in South Korea. Total loss to shareholders of 59% over the past three years. Buy Or Sell Opportunity • Aug 02
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to ₩3,400. The fair value is estimated to be ₩4,354, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.6% over the last 3 years. Meanwhile, the company has become profitable. Annonce • Apr 17
RFTech Co., Ltd. Bionanotechnology Co., Ltd. and Lee Gyeong Sook agreed to acquire a 32.69% stake in Enterpartners Co., LTD (KOSDAQ:A058450) from Kyung Nam Pharm Co.,Ltd. (KOSDAQ:A053950) for KRW 23 billion. RFTech Co., Ltd. Bionanotechnology Co., Ltd. and Lee Gyeong Sook agreed to acquire a 32.69% stake in Enterpartners Co., LTD (KOSDAQ:A058450) from Kyung Nam Pharm Co.,Ltd. (KOSDAQ:A053950) for KRW 23 billion on April 12, 2024. The consideration will be paid at a price of KRW 6 billion per share. As of April 15, 2024, RFTech Co., Ltd, Bionanotechnology Co., Ltd. and Lee Gyeong Sook have acquired a combined 5.75% stake. The transaction is expected to close on May 23, 2024. Reported Earnings • Mar 22
Full year 2023 earnings released: EPS: ₩128 (vs ₩378 in FY 2022) Full year 2023 results: EPS: ₩128 (down from ₩378 in FY 2022). Revenue: ₩314.4b (down 13% from FY 2022). Net income: ₩4.04b (down 66% from FY 2022). Profit margin: 1.3% (down from 3.3% in FY 2022). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Annonce • Feb 23
RFTech Co., Ltd. (KOSDAQ:A061040) announces an Equity Buyback for KRW 1,000 million worth of its shares. RFTech Co., Ltd. (KOSDAQ:A061040) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its shares pursuant to a trust contract with Shinhan Securities Co., Ltd. The purpose of the share repurchase program is to stabilize the share price and to improve shareholder value. The share repurchase program is valid until February 25, 2025. As of February 21, 2024, the company had 620,930 shares in treasury within scope available for dividend and had 1,131 shares in treasury through other repurchase. Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: ₩242 (vs ₩484 in 3Q 2022) Third quarter 2023 results: EPS: ₩242 (down from ₩484 in 3Q 2022). Revenue: ₩98.8b (down 31% from 3Q 2022). Net income: ₩7.60b (down 50% from 3Q 2022). Profit margin: 7.7% (down from 11% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. New Risk • Aug 30
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: 1.3% Last year net profit margin: 6.1% 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: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Market cap is less than US$100m (₩126.8b market cap, or US$95.8m). New Risk • Jul 25
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩126.0b (US$98.5m) This is considered a minor 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: Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₩126.0b market cap, or US$98.5m). Annonce • Jul 06
RFTech Co., Ltd. announced that it has received KRW 30 billion in funding from Synergy IB Materials, Parts and Equipment Fund 3 On July 4, 2023, RFTech Co., Ltd. closed the transaction. Reported Earnings • Nov 20
Third quarter 2022 earnings released: EPS: ₩484 (vs ₩207 in 3Q 2021) Third quarter 2022 results: EPS: ₩484 (up from ₩207 in 3Q 2021). Revenue: ₩143.3b (up 50% from 3Q 2021). Net income: ₩15.2b (up 139% from 3Q 2021). Profit margin: 11% (up from 6.7% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. 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. 3 experienced directors. No highly experienced directors. No independent directors (3 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. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improved over the past week After last week's 19% share price gain to ₩5,280, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 17x in the Electrical industry in South Korea. Total loss to shareholders of 34% over the past three years. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩4,350, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 15x in the Electrical industry in South Korea. Total loss to shareholders of 43% over the past three years. Annonce • Sep 08
IDO Healthcare Co.,Ltd. and Jinhyeong Lee completed the acquisition of 14.398731% stake in RFTech Co., Ltd. (KOSDAQ:A061040) from Jayjun Cosmetic Co., Ltd. (KOSE:A025620). IDO Healthcare Co.,Ltd. and Jinhyeong Lee agreed to acquire 14.398731% stake in RFTech Co., Ltd. (KOSDAQ:A061040) from Jayjun Cosmetic Co., Ltd. (KOSE:A025620) for KRW 35 billion on August 19, 2022. The transaction is expected to close on September 2, 2022. As of September 6, 2022, The acquisition is expected to close today.
IDO Healthcare Co.,Ltd. and Jinhyeong Lee completed the acquisition of 14.398731% stake in RFTech Co., Ltd. (KOSDAQ:A061040) from Jayjun Cosmetic Co., Ltd. (KOSE:A025620) on September 6, 2022. 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. 3 experienced directors. No highly experienced directors. No independent directors (3 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. Reported Earnings • May 17
First quarter 2021 earnings released: EPS ₩412 (vs ₩798 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: ₩82.3b (up 23% from 1Q 2020). Net income: ₩11.6b (down 32% from 1Q 2020). Profit margin: 14% (down from 25% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 110 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 02
Full year 2020 earnings released: ₩1,308 loss per share (vs ₩129 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: ₩257.9b (down 9.4% from FY 2019). Net loss: ₩30.9b (loss widened ₩28.3b from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 24
New 90-day low: ₩9,250 The company is down 10.0% from its price of ₩10,300 on 26 November 2020. The South Korean market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩15,973 per share. Is New 90 Day High Low • Dec 23
New 90-day low: ₩9,350 The company is down 11% from its price of ₩10,500 on 24 September 2020. The South Korean market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 17% over the same period. Is New 90 Day High Low • Oct 26
New 90-day low: ₩9,600 The company is down 3.0% from its price of ₩9,910 on 28 July 2020. The South Korean market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩51,403 per share.