Buy Or Sell Opportunity • Mar 05
Now 21% overvalued Over the last 90 days, the stock has fallen 2.1% to ₩906. The fair value is estimated to be ₩747, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Annonce • Feb 24
Dilli Illustrate Inc., Annual General Meeting, Mar 23, 2026 Dilli Illustrate Inc., Annual General Meeting, Mar 23, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 30, gangbyeon-ro 702beon-gil, gyeonggi-do, dongducheon South Korea New Risk • Nov 15
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended September 2024. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risk Latest financial reports are more than 1 year old (reported September 2024 fiscal period end). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₩25.7b market cap, or US$17.6m). Buy Or Sell Opportunity • Nov 06
Now 21% overvalued Over the last 90 days, the stock has fallen 13% to ₩905. The fair value is estimated to be ₩748, however this is not to be taken as a sell recommendation but rather should be used as a guide only. New Risk • Jun 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₩27.4b market cap, or US$19.9m). Buy Or Sell Opportunity • Apr 03
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 1.9% to ₩863. The fair value is estimated to be ₩718, 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. Meanwhile, the company has become profitable. New Risk • Mar 11
New minor risk - Dividend sustainability The dividend is not well covered by earnings. The company is paying a dividend despite being loss-making. Dividend yield: 4.4% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (₩24.9b market cap, or US$17.1m). New Risk • Dec 07
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended September 2013. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risk Latest financial reports are more than 1 year old (reported September 2013 fiscal period end). Minor Risk Market cap is less than US$100m (₩23.3b market cap, or US$16.4m). Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩891, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 9x in the Tech industry in South Korea. Total loss to shareholders of 54% over the past three years. Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩1,084, the stock trades at a trailing P/E ratio of 26.7x. Average trailing P/E is 13x in the Tech industry in South Korea. Total loss to shareholders of 46% over the past three years. Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: ₩25.00 (vs ₩94.00 in FY 2022) Full year 2023 results: EPS: ₩25.00 (down from ₩94.00 in FY 2022). Revenue: ₩25.7b (down 31% from FY 2022). Net income: ₩684.2m (down 74% from FY 2022). Profit margin: 2.7% (down from 7.0% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩40.00 per share at 3.2% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 08 April 2024. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 3.2%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (2.0%). New Risk • Aug 25
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 142% Cash payout ratio: 104% Dividend yield: 3.4% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 142% Cash payout ratio: 104% Earnings have declined by 0.3% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (2.7% net profit margin). Market cap is less than US$100m (₩33.1b market cap, or US$25.0m). Reported Earnings • Mar 10
Full year 2022 earnings released: EPS: ₩94.00 (vs ₩110 in FY 2021) Full year 2022 results: EPS: ₩94.00 (down from ₩110 in FY 2021). Revenue: ₩37.2b (up 5.4% from FY 2021). Net income: ₩2.62b (down 14% from FY 2021). Profit margin: 7.0% (down from 8.6% in FY 2021). The decrease in margin was driven by higher expenses. 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 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 21
Upcoming dividend of ₩40.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 10 April 2023. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of South Korean dividend payers (3.3%). In line with average of industry peers (2.5%). Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩1,465, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 9x in the Tech industry in South Korea. Total loss to shareholders of 26% over the past three years. Reported Earnings • Mar 18
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₩110 (up from ₩20.00 loss in FY 2020). Revenue: ₩35.3b (up 27% from FY 2020). Net income: ₩3.05b (up ₩3.61b from FY 2020). Profit margin: 8.6% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improved over the past week After last week's 15% share price gain to ₩2,305, the stock trades at a trailing P/E ratio of 30.9x. Average trailing P/E is 16x in the Tech industry in South Korea. Total returns to shareholders of 16% over the past three years. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improved over the past week After last week's 16% share price gain to ₩2,305, the stock trades at a trailing P/E ratio of 30.9x. Average trailing P/E is 16x in the Tech industry in South Korea. Total returns to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩1,870, the stock trades at a trailing P/E ratio of 25.1x. Average trailing P/E is 16x in the Tech industry in South Korea. Negligible returns to shareholders over past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩40.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 11 April 2022. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₩1,820, the stock trades at a trailing P/E ratio of 40.6x. Average trailing P/E is 15x in the Tech industry in South Korea. Total loss to shareholders of 7.3% over the past three years. Is New 90 Day High Low • Feb 20
New 90-day high: ₩1,665 The company is up 4.0% from its price of ₩1,595 on 20 November 2020. The South Korean market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 28% over the same period. Annonce • Feb 10
Dilli Illustrate Inc., Annual General Meeting, Mar 25, 2021 Dilli Illustrate Inc., Annual General Meeting, Mar 25, 2021, at 09:00 Korea Standard Time. Is New 90 Day High Low • Jan 11
New 90-day low: ₩1,505 The company is down 14% from its price of ₩1,760 on 13 October 2020. The South Korean market is up 29% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 47% over the same period. Is New 90 Day High Low • Dec 22
New 90-day low: ₩1,515 The company is down 4.0% from its price of ₩1,585 on 23 September 2020. The South Korean market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 25% over the same period.