Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₩30,050, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 11x in the Consumer Durables industry in South Korea. Total returns to shareholders of 26% over the past three years. Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: ₩2,937 (vs ₩1,966 in FY 2024) Full year 2025 results: EPS: ₩2,937 (up from ₩1,966 in FY 2024). Revenue: ₩36.1b (up 57% from FY 2024). Net income: ₩3.83b (up 50% from FY 2024). Profit margin: 11% (in line with FY 2024). Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 3% per year. Annonce • Feb 13
Kyungin Electronics Co., Ltd, Annual General Meeting, Mar 20, 2026 Kyungin Electronics Co., Ltd, Annual General Meeting, Mar 20, 2026, at 10:00 Tokyo Standard Time. Location: seminar room, geumcheon-gu, seoul South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩350 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 08 April 2026. Payout ratio is a comfortable 10% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of South Korean dividend payers (3.6%). Lower than average of industry peers (2.9%). Reported Earnings • Nov 19
Third quarter 2025 earnings released: EPS: ₩1,728 (vs ₩184 loss in 3Q 2024) Third quarter 2025 results: EPS: ₩1,728 (up from ₩184 loss in 3Q 2024). Revenue: ₩10.4b (up 75% from 3Q 2024). Net income: ₩2.25b (up ₩2.49b from 3Q 2024). Profit margin: 22% (up from net loss in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 6% per year. Declared Dividend • Nov 08
Dividend of ₩350 announced Dividend of ₩350 is the same as last year. Ex-date: 29th December 2025 Payment date: 8th April 2026 Dividend yield will be 1.8%, which is lower than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (25% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 5.8% per year over the past 6 years and payments have been stable during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Annonce • Nov 07
Kyungin Electronics Co., Ltd announces Annual dividend, payable on April 08, 2026 Kyungin Electronics Co., Ltd announced Annual dividend of KRW 350.0000 per share payable on April 08, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Reported Earnings • Aug 19
Second quarter 2025 earnings released: EPS: ₩1,452 (vs ₩1,046 in 2Q 2024) Second quarter 2025 results: EPS: ₩1,452 (up from ₩1,046 in 2Q 2024). Revenue: ₩9.06b (up 63% from 2Q 2024). Net income: ₩1.89b (up 39% from 2Q 2024). Profit margin: 21% (down from 25% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 9% per year. Reported Earnings • May 20
First quarter 2025 earnings released: ₩473 loss per share (vs ₩471 profit in 1Q 2024) First quarter 2025 results: ₩473 loss per share (down from ₩471 profit in 1Q 2024). Revenue: ₩7.53b (up 35% from 1Q 2024). Net loss: ₩615.8m (down 200% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 13
Full year 2024 earnings released: EPS: ₩1,966 (vs ₩4,445 in FY 2023) Full year 2024 results: EPS: ₩1,966 (down from ₩4,445 in FY 2023). Revenue: ₩22.9b (up 8.5% from FY 2023). Net income: ₩2.56b (down 56% from FY 2023). Profit margin: 11% (down from 27% in FY 2023). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Annonce • Feb 20
Kyungin Electronics Co., Ltd, Annual General Meeting, Mar 20, 2025 Kyungin Electronics Co., Ltd, Annual General Meeting, Mar 20, 2025, at 10:00 Tokyo Standard Time. Location: seminar room, geumcheon-gu, seoul South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩350 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 04 April 2025. Payout ratio is a comfortable 8.9% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (2.8%). Reported Earnings • Nov 14
Third quarter 2024 earnings released: ₩184 loss per share (vs ₩165 profit in 3Q 2023) Third quarter 2024 results: ₩184 loss per share (down from ₩165 profit in 3Q 2023). Revenue: ₩5.93b (up 28% from 3Q 2023). Net loss: ₩239.8m (down 212% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: ₩1,046 (vs ₩742 in 2Q 2023) Second quarter 2024 results: EPS: ₩1,046 (up from ₩742 in 2Q 2023). Revenue: ₩5.57b (up 7.2% from 2Q 2023). Net income: ₩1.36b (up 41% from 2Q 2023). Profit margin: 25% (up from 19% in 2Q 2023). 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 8% per year, which means it is significantly lagging earnings. New Risk • May 23
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 9.3% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.3% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₩38.9b market cap, or US$28.6m). Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₩29,100, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 16x in the Consumer Durables industry in South Korea. Total loss to shareholders of 3.9% over the past three years. Buy Or Sell Opportunity • May 23
Now 36% overvalued after recent price rise Over the last 90 days, the stock has risen 30% to ₩29,100. The fair value is estimated to be ₩21,376, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.5% over the last 3 years. Earnings per share has grown by 27%. Reported Earnings • Mar 07
Full year 2023 earnings released: EPS: ₩4,445 (vs ₩2,080 in FY 2022) Full year 2023 results: EPS: ₩4,445 (up from ₩2,080 in FY 2022). Revenue: ₩21.1b (up 5.4% from FY 2022). Net income: ₩5.78b (up 114% from FY 2022). Profit margin: 27% (up from 14% in FY 2022). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩24,650, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 20x in the Consumer Durables industry in South Korea. Total loss to shareholders of 9.0% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩350 per share at 1.6% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 04 April 2024. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (2.4%). Valuation Update With 7 Day Price Move • Sep 18
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩26,700, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 15x in the Consumer Durables industry in South Korea. Total returns to shareholders of 27% over the past three years. New Risk • Aug 19
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 89% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. 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. Profit margins are more than 30% lower than last year (12% net profit margin). Market cap is less than US$100m (₩29.7b market cap, or US$22.1m). Reported Earnings • May 18
First quarter 2023 earnings released: EPS: ₩933 (vs ₩55.00 loss in 1Q 2022) First quarter 2023 results: EPS: ₩933 (up from ₩55.00 loss in 1Q 2022). Revenue: ₩6.01b (up 3.1% from 1Q 2022). Net income: ₩1.21b (up ₩1.28b from 1Q 2022). Profit margin: 20% (up from net loss in 1Q 2022). The move to profitability was primarily driven by lower expenses. 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 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 09
Full year 2022 earnings released: EPS: ₩2,080 (vs ₩2,843 in FY 2021) Full year 2022 results: EPS: ₩2,080 (down from ₩2,843 in FY 2021). Revenue: ₩20.1b (down 27% from FY 2021). Net income: ₩2.71b (down 27% from FY 2021). Profit margin: 14% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 21
Upcoming dividend of ₩250 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 07 April 2023. Payout ratio is a comfortable 8.6% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (2.2%). Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 2 independent directors (5 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: Minority of independent directors. Insufficient board refreshment. Reported Earnings • May 19
First quarter 2022 earnings released: ₩56.00 loss per share (vs ₩628 profit in 1Q 2021) First quarter 2022 results: ₩56.00 loss per share (down from ₩628 profit in 1Q 2021). Revenue: ₩5.83b (up 2.5% from 1Q 2021). Net loss: ₩70.9m (down 109% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 2 independent directors (5 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: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improved over the past week After last week's 29% share price gain to ₩36,800, the stock trades at a trailing P/E ratio of 24x. Average trailing P/E is 20x in the Consumer Durables industry in South Korea. Total returns to shareholders of 70% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩250 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 08 April 2022. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (1.1%). Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩29,050, the stock trades at a trailing P/E ratio of 22.6x. Average trailing P/E is 16x in the Consumer Durables industry in South Korea. Total returns to shareholders of 31% over the past three years. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improved over the past week After last week's 18% share price gain to ₩39,300, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 17x in the Consumer Durables industry in South Korea. Total returns to shareholders of 80% over the past three years. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS ₩1,033 (vs ₩182 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₩20.8b (up 56% from FY 2019). Net income: ₩1.35b (up 456% from FY 2019). Profit margin: 6.5% (up from 1.8% in FY 2019). Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Annonce • Feb 10
Kyungin Electronics Co., Ltd, Annual General Meeting, Mar 26, 2021 Kyungin Electronics Co., Ltd, Annual General Meeting, Mar 26, 2021, at 10:00 Korea Standard Time. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improved over the past week After last week's 22% share price gain to ₩31,150, the stock is trading at a trailing P/E ratio of 15.5x, up from the previous P/E ratio of 12.7x. This compares to an average P/E of 14x in the Consumer Durables industry in South Korea. Total return to shareholders over the past three years is a loss of 8.8%. Is New 90 Day High Low • Jan 04
New 90-day high: ₩32,550 The company is up 64% from its price of ₩19,900 on 06 October 2020. The South Korean market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 23% over the same period. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 35% share price gain to ₩32,550, the stock is trading at a trailing P/E ratio of 16.2x, up from the previous P/E ratio of 12x. This compares to an average P/E of 14x in the Consumer Durables industry in South Korea. Total returns to shareholders over the past three years are 71%. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩250 Per Share Will be paid on the 2nd of April to those who are registered shareholders by the 29th of December. The trailing yield of 1.1% is below the top quartile of South Korean dividend payers (2.6%), but is in line with industry peers (1.1%). Reported Earnings • Nov 19
Third quarter 2020 earnings released: EPS ₩720 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₩7.37b (up 84% from 3Q 2019). Net income: ₩937.5m (up ₩793.3m from 3Q 2019). Profit margin: 13% (up from 3.6% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 28
Market pulls back on stock over the past week After last week's 19% share price decline to ₩23,300, the stock is trading at a trailing P/E ratio of 16.7x, down from the previous P/E ratio of 20.5x. This compares to an average P/E of 14x in the Consumer Durables industry in South Korea. Total returns to shareholders over the past three years are 19%. Is New 90 Day High Low • Oct 21
New 90-day high: ₩28,600 The company is up 55% from its price of ₩18,450 on 23 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 Consumer Durables industry, which is up 11% over the same period. Valuation Update With 7 Day Price Move • Oct 21
Market bids up stock over the past week After last week's 34% share price gain to ₩28,600, the stock is trading at a trailing P/E ratio of 20.5x, up from the previous P/E ratio of 15.3x. This compares to an average P/E of 15x in the Consumer Durables industry in South Korea. Total returns to shareholders over the past three years are 43%.