Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩5,730, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 6x in the Auto Components industry in South Korea. Total returns to shareholders of 49% over the past three years. Upcoming Dividend • Mar 26
Upcoming dividend of ₩110 per share Eligible shareholders must have bought the stock before 02 April 2026. Payment date: 24 April 2026. Payout ratio is a comfortable 65% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (2.1%). Declared Dividend • Feb 13
Dividend of ₩110 announced Dividend of ₩110 is the same as last year. Ex-date: 2nd April 2026 Payment date: 24th April 2026 Dividend yield will be 2.7%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (65% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 30% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Nov 20
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% 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 (0.6% net profit margin). Reported Earnings • Aug 20
Second quarter 2025 earnings released: EPS: ₩111 (vs ₩50.00 loss in 2Q 2024) Second quarter 2025 results: EPS: ₩111 (up from ₩50.00 loss in 2Q 2024). Revenue: ₩421.7b (up 43% from 2Q 2024). Net income: ₩6.85b (up ₩9.92b from 2Q 2024). Profit margin: 1.6% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩3,900, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 7x in the Auto Components industry in South Korea. Total returns to shareholders of 21% over the past three years. Upcoming Dividend • Mar 26
Upcoming dividend of ₩110 per share Eligible shareholders must have bought the stock before 02 April 2025. Payment date: 25 April 2025. Payout ratio is a comfortable 28% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (2.7%). Reported Earnings • Mar 14
Full year 2024 earnings released: EPS: ₩381 (vs ₩494 in FY 2023) Full year 2024 results: EPS: ₩381 (down from ₩494 in FY 2023). Revenue: ₩1.37t (up 24% from FY 2023). Net income: ₩23.6b (down 23% from FY 2023). Profit margin: 1.7% (down from 2.8% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Annuncio • Feb 12
Daewon Kang Up Co., Ltd., Annual General Meeting, Mar 26, 2025 Daewon Kang Up Co., Ltd., Annual General Meeting, Mar 26, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 114-41, osong 1-gil, seonggeo-eup, seobuk-gu, chungcheongnam-do, cheonan South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩110 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 24 April 2025. Payout ratio is a comfortable 28% but the company is paying out more than the cash it is generating. Trailing yield: 2.8%. Lower than top quartile of South Korean dividend payers (3.9%). In line with average of industry peers (2.6%). New Risk • Dec 16
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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: ₩292 (vs ₩194 in 3Q 2023) Third quarter 2024 results: EPS: ₩292. Revenue: ₩367.8b (up 35% from 3Q 2023). Net income: ₩7.53b (down 38% from 3Q 2023). Profit margin: 2.0% (down from 4.4% in 3Q 2023). The decrease in margin was driven by higher expenses. Declared Dividend • Nov 15
Dividend of ₩110 announced Shareholders will receive a dividend of ₩110. Ex-date: 27th December 2024 Payment date: 24th April 2025 Dividend yield will be 2.9%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (38% earnings payout ratio) but not covered by cash flows (397% cash payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 10% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Aug 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to ₩4,490. The fair value is estimated to be ₩5,668, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.4% over the last 3 years. Earnings per share has grown by 76%. New Risk • Aug 22
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: 1.6% Last year net profit margin: 4.1% 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 Dividend is not well covered by cash flows (397% cash payout ratio). Profit margins are more than 30% lower than last year (1.6% net profit margin). Annuncio • Jun 27
Daewon Kang Up Co., Ltd. (KOSE:A000430) acquired an additional 15.98% stake in Daewon Precision Industrial Company Limited. Daewon Kang Up Co., Ltd. (KOSE:A000430) acquired an additional 15.98% stake in Daewon Precision Industrial Company Limited on June 25, 2024. A cash consideration valued at KRW 62000 per share will be paid by Daewon Kang Up Co., Ltd. Daewon Kang Up Co., Ltd. (KOSE:A000430) completed the acquisition of an additional 15.98% stake in Daewon Precision Industrial Company Limited on June 25, 2024 Buy Or Sell Opportunity • Jun 12
Now 23% overvalued Over the last 90 days, the stock has fallen 1.3% to ₩5,390. The fair value is estimated to be ₩4,392, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.6% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • May 22
Now 21% overvalued Over the last 90 days, the stock has fallen 6.6% to ₩5,410. The fair value is estimated to be ₩4,485, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Apr 22
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 8.6% to ₩5,530. The fair value is estimated to be ₩4,507, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Mar 21
Now 22% overvalued Over the last 90 days, the stock has fallen 1.5% to ₩5,400. The fair value is estimated to be ₩4,426, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Mar 15
Full year 2023 earnings released: EPS: ₩494 (vs ₩304 in FY 2022) Full year 2023 results: EPS: ₩494 (up from ₩304 in FY 2022). Revenue: ₩1.11t (up 8.0% from FY 2022). Net income: ₩30.6b (up 63% from FY 2022). Profit margin: 2.8% (up from 1.8% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Auto Components industry in South Korea. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 20
Upcoming dividend of ₩100.00 per share at 1.8% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 22 April 2024. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (2.0%). Valuation Update With 7 Day Price Move • Sep 18
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩6,450, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 7x in the Auto Components industry in South Korea. Total returns to shareholders of 82% over the past three years. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₩6,220, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 9x in the Auto Components industry in South Korea. Total returns to shareholders of 97% over the past three years. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩7,720, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 9x in the Auto Components industry in South Korea. Total returns to shareholders of 170% over the past three years. New Risk • Jul 05
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 26% per year over the past 5 years. 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 (11% average weekly change). Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to ₩5,850, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 9x in the Auto Components industry in South Korea. Total returns to shareholders of 111% over the past three years. Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩4,800, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 13x in the Auto Components industry in South Korea. Total returns to shareholders of 80% over the past three years. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩4,175, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 12x in the Auto Components industry in South Korea. Total returns to shareholders of 53% over the past three years. Reported Earnings • Mar 12
Full year 2022 earnings released: EPS: ₩304 (vs ₩111 loss in FY 2021) Full year 2022 results: EPS: ₩304 (up from ₩111 loss in FY 2021). Revenue: ₩1.02t (up 19% from FY 2021). Net income: ₩18.9b (up ₩25.7b from FY 2021). Profit margin: 1.8% (up from net loss in FY 2021). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Dec 21
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 23 March 2023. Payout ratio is a comfortable 48% and the cash payout ratio is 84%. Trailing yield: 2.8%. Lower than top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (2.3%). Reported Earnings • Nov 20
Third quarter 2022 earnings released: EPS: ₩159 (vs ₩235 loss in 3Q 2021) Third quarter 2022 results: EPS: ₩159 (up from ₩235 loss in 3Q 2021). Revenue: ₩249.3b (up 42% from 3Q 2021). Net income: ₩9.84b (up ₩24.4b from 3Q 2021). Profit margin: 3.9% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Mar 11
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: ₩111 loss per share (down from ₩104 loss in FY 2020). Revenue: ₩862.2b (flat on FY 2020). Net loss: ₩6.89b (loss widened 6.9% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Dec 22
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 24 March 2022. The company is not currently making a profit and its cash payout ratio is 93%. Trailing yield: 2.7%. Within top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (1.8%). Reported Earnings • Nov 19
Third quarter 2021 earnings released: ₩235 loss per share (vs ₩82.00 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ₩175.1b (down 21% from 3Q 2020). Net loss: ₩14.6b (down 387% from profit in 3Q 2020). 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. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment improved over the past week After last week's 17% share price gain to ₩4,605, the stock trades at a trailing P/E ratio of 41.7x. Average trailing P/E is 15x in the Auto Components industry in South Korea. Total returns to shareholders of 38% over the past three years. Reported Earnings • Mar 10
Full year 2020 earnings released: ₩104 loss per share (vs ₩258 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: ₩861.2b (down 10% from FY 2019). Net loss: ₩6.44b (down 140% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 66% 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. Annuncio • Feb 10
Daewon Kang Up Co., Ltd., Annual General Meeting, Mar 26, 2021 Daewon Kang Up Co., Ltd., Annual General Meeting, Mar 26, 2021, at 10:00 Korea Standard Time. Location: Cheonan Factory Conference Room 114-41, Osong 1-gil, Seonggeo-eup Cheonan-si Chungnam South Korea Agenda: To approve the financial statements; to appoint directors; To remunerate limit for directors; and to discuss other matters. Is New 90 Day High Low • Feb 03
New 90-day high: ₩4,640 The company is up 15% from its price of ₩4,045 on 05 November 2020. The South Korean market is up 28% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 46% over the same period. Is New 90 Day High Low • Jan 19
New 90-day high: ₩4,340 The company is up 5.0% from its price of ₩4,130 on 21 October 2020. The South Korean market is up 26% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 35% over the same period. Is New 90 Day High Low • Dec 24
New 90-day low: ₩3,770 The company is down 2.0% from its price of ₩3,865 on 25 September 2020. The South Korean market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 20% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩115 Per Share Will be paid on the 25th of March to those who are registered shareholders by the 29th of December. The trailing yield of 3.0% is in the top quartile of South Korean dividend payers (2.6%), and it is higher than industry peers (1.7%). Is New 90 Day High Low • Oct 13
New 90-day high: ₩4,380 The company is up 41% from its price of ₩3,110 on 15 July 2020. The South Korean market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 20% over the same period. Annuncio • Sep 21
Daewon Kang Up Co., Ltd.(KOSE:A000430) dropped from S&P Global BMI Index Daewon Kang Up Co., Ltd.(KOSE:A000430) dropped from S&P Global BMI Index 