Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩210,000, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 24x in the Forestry industry in South Korea. Total returns to shareholders of 36% over the past three years. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩200,000, the stock trades at a trailing P/E ratio of 10.4x. Average trailing P/E is 29x in the Forestry industry in South Korea. Total returns to shareholders of 49% over the past three years. Annuncio • Jun 11
ASIA Holdings CO., Ltd. (KOSE:A002030) announces an Equity Buyback for KRW 8,000 million worth of its shares. ASIA Holdings CO., Ltd. (KOSE:A002030) announces a share repurchase program. Under the program, the company will repurchase up to KRW 8,000 million worth of its shares according to the contract with NH Investment & Securities Co., Ltd. The purpose of the program is shareholder value enhancement. The program will expire on December 9, 2026. As of June 9, 2026, the company had 417,388 shares in treasury within the scope available for dividend payable and no shares through other acquisition. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩184,800, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 34x in the Forestry industry in South Korea. Total returns to shareholders of 39% over the past three years. Valuation Update With 7 Day Price Move • May 12
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩227,500, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 31x in the Forestry industry in South Korea. Total returns to shareholders of 62% over the past three years. New Risk • Apr 01
New major risk - Revenue and earnings growth Earnings have declined by 4.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.5% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.6% net profit margin). Annuncio • Mar 06
ASIA Holdings CO., Ltd., Annual General Meeting, Mar 26, 2026 ASIA Holdings CO., Ltd., Annual General Meeting, Mar 26, 2026, at 10:30 Tokyo Standard Time. Location: auditorium, 430, nonhyeon-ro, gangnam-gu, seoul South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩4,700 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 16 April 2026. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of South Korean dividend payers (3.6%). Lower than average of industry peers (2.7%). New Risk • Nov 24
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 having no free cash flows. Profit margins are more than 30% lower than last year (2.2% net profit margin). Declared Dividend • Nov 15
Dividend of ₩4,700 announced Shareholders will receive a dividend of ₩4,700. Ex-date: 29th December 2025 Payment date: 16th April 2026 Dividend yield will be 1.4%, which is lower than the industry average of 3.8%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 17% per year over the past 8 years and payments have been stable during that time. Earnings per share has grown by 6.6% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Annuncio • Oct 16
ASIA Holdings CO., Ltd. (KOSE:A002030) announces an Equity Buyback for KRW 3,000 million worth of its shares. ASIA Holdings CO., Ltd. (KOSE:A002030) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,000 million worth of its shares according to the contract with NH Investment & Securities Co., Ltd. The purpose of the program is stock price stabilization and shareholder value enhancement. The program will expire on April 15, 2026. As of October 17, 2025, the company had 433,771 shares in treasury within the scope available for dividend payable and no shares through other acquisition. New Risk • May 23
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: 2.7% Last year net profit margin: 4.7% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 15
Full year 2024 earnings released: EPS: ₩37,523 (vs ₩56,197 in FY 2023) Full year 2024 results: EPS: ₩37,523 (down from ₩56,197 in FY 2023). Revenue: ₩2.01t (down 5.1% from FY 2023). Net income: ₩62.1b (down 33% from FY 2023). Profit margin: 3.1% (down from 4.4% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Feb 27
ASIA Holdings CO., Ltd., Annual General Meeting, Mar 20, 2025 ASIA Holdings CO., Ltd., Annual General Meeting, Mar 20, 2025, at 10:30 Tokyo Standard Time. Location: auditorium, 430, nonhyeon-ro, gangnam-gu, seoul South Korea Annuncio • Jan 07
ASIA Holdings CO., Ltd. (KOSE:A002030) announces an Equity Buyback for KRW 5,000 million worth of its shares. ASIA Holdings CO., Ltd. (KOSE:A002030) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its shares according to the contract with NH Investment & Securities Co., Ltd. The purpose of the program is stock price stabilization and shareholder value enhancement. The program will expire on July 6, 2025. As of January 6, 2025, the company had 429,654 shares in treasury within the scope available for dividend payable and no shares through other acquisition. Declared Dividend • Dec 19
Dividend of ₩4,400 announced Shareholders will receive a dividend of ₩4,400. Ex-date: 27th December 2024 Payment date: 17th April 2025 Dividend yield will be 2.2%, which is lower than the industry average of 3.8%. Sustainability & Growth Dividend is well covered by both earnings (12% earnings payout ratio) and cash flows (8% cash payout ratio). The dividend has increased by an average of 21% per year over the past 7 years and payments have been stable during that time. 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. Annuncio • Oct 22
ASIA Holdings CO., Ltd. (KOSE:A002030) announces an Equity Buyback for KRW 2,000 million worth of its shares. ASIA Holdings CO., Ltd. (KOSE:A002030) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares according to the contract with NH INVESTMENT & SECURITIES CO., LTD. The purpose of the program is stock price stabilization and shareholder value enhancement. The program will expire on April 21, 2025. As of October 21, 2024, the company had 437,648 shares in treasury within the scope available for dividend payable and no shares through other acquisition. Annuncio • Aug 29
ASIA Holdings CO., Ltd. (KOSE:A002030) announces an Equity Buyback for KRW 2,000 million worth of its shares. ASIA Holdings CO., Ltd. (KOSE:A002030) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares according to the contract with NH Investment & Securities Co., Ltd. The purpose of the program is stock price stabilization and shareholder value enhancement. The program will expire on February 28, 2025. As of August 28, 2024, the company had 429,848 shares in treasury within the scope available for dividend payable and no shares through other acquisition. Annuncio • Jun 18
ASIA Holdings CO., Ltd. (KOSE:A002030) announces an Equity Buyback for KRW 2,000 million worth of its shares. ASIA Holdings CO., Ltd. (KOSE:A002030) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares according to the contract with NH Investment & Securities Co., Ltd. The purpose of the program is stock price stabilization and shareholder value enhancement. The program will expire on December 17, 2024. As of June 17, 2024, the company had 422,048 shares in treasury within the scope available for dividend payable and no shares through other acquisition. Annuncio • Apr 27
ASIA Holdings CO., Ltd. (KOSE:A002030) announces an Equity Buyback for KRW 2,000 million worth of its shares. ASIA Holdings CO., Ltd. (KOSE:A002030) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares according to the contract with NH Investment & Securities Co., Ltd. The purpose of the program is stock price stabilization and shareholder value enhancement. The program will expire on October 25, 2024. As of April 26, 2024, the company had 414,148 shares in treasury within the scope available for dividend payable and no shares through other acquisition. Reported Earnings • Mar 16
Full year 2023 earnings released: EPS: ₩54,991 (vs ₩47,441 in FY 2022) Full year 2023 results: EPS: ₩54,991 (up from ₩47,441 in FY 2022). Revenue: ₩2.12t (up 2.1% from FY 2022). Net income: ₩93.3b (up 11% from FY 2022). Profit margin: 4.4% (up from 4.1% in FY 2022). The increase in margin 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 increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Mar 01
ASIA Holdings CO., Ltd. (KOSE:A002030) announces an Equity Buyback for KRW 2,000 million worth of its shares. ASIA Holdings CO., Ltd. (KOSE:A002030) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares according to the contract with NH Investment & Securities Co., Ltd. The purpose of the program is stock price stabilization and shareholder value enhancement. The program will expire on August 27, 2024. As of February 27, 2024, the company had 415,004 shares in treasury within the scope available for dividend payable and no shares through other acquisition. Upcoming Dividend • Dec 20
Upcoming dividend of ₩3,250 per share at 2.5% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 15 November 2024. Payout ratio is a comfortable 7.0% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (4.0%). Upcoming Dividend • Oct 23
Upcoming dividend of ₩500 per share at 2.5% yield Eligible shareholders must have bought the stock before 30 October 2023. Payment date: 15 November 2023. Payout ratio is a comfortable 7.7% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of South Korean dividend payers (3.7%). In line with average of industry peers (2.3%). Annuncio • Sep 12
ASIA Holdings CO., Ltd. (KOSE:A002030) announces an Equity Buyback for KRW 2,000 million worth of its shares. ASIA Holdings CO., Ltd. (KOSE:A002030) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares according to the contract with NH Investment & Securities Co., Ltd. The purpose of the program is stock price stabilization and shareholder value enhancement. The program will expire on March 11, 2024. As of September 10, 2023, the company had 391,004 shares in treasury within the scope available for dividend payable and no shares through other acquisition. Reported Earnings • Aug 20
Second quarter 2023 earnings released: EPS: ₩16,392 (vs ₩15,252 in 2Q 2022) Second quarter 2023 results: EPS: ₩16,392 (up from ₩15,252 in 2Q 2022). Revenue: ₩564.2b (up 4.2% from 2Q 2022). Net income: ₩28.4b (up 3.1% from 2Q 2022). Profit margin: 5.0% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Jul 28
ASIA Holdings CO., Ltd. (KOSE:A002030) announces an Equity Buyback for KRW 2,000 million worth of its shares. ASIA Holdings CO., Ltd. (KOSE:A002030) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares according to the contract with NH Investment & Securities Co., Ltd. The purpose of the program is stock price stabilization and shareholder value enhancement. The program will expire on January 25, 2024. As of July 25, 2023, the company had 405,434 shares in treasury within the scope available for dividend payable and no shares through other acquisition. Annuncio • May 26
Asia Holdings Co., Ltd. (KOSE:A002030) announces an Equity Buyback for KRW 2,000 million worth of its shares. Asia Holdings Co., Ltd. (KOSE:A002030) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares according to the contract with NH Investment & Securities Co., Ltd. The purpose of the program is stock price stabilization and shareholder value enhancement. The program will expire on November 24, 2023. As of May 24, 2023, the company had 405,434 shares in treasury within the scope available for dividend payable and no shares through other acquisition. Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: ₩46,012 (vs ₩46,885 in FY 2021) Full year 2022 results: EPS: ₩46,012 (down from ₩46,885 in FY 2021). Revenue: ₩2.07t (up 12% from FY 2021). Net income: ₩84.0b (down 3.1% from FY 2021). Profit margin: 4.1% (down from 4.7% 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 31% per year whereas the company’s share price has increased by 27% per year. Annuncio • Feb 02
Asia Holdings Co., Ltd. (KOSE:A002030) announces an Equity Buyback for KRW 2,000 million worth of its shares. Asia Holdings Co., Ltd. (KOSE:A002030) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares according to the contract with NH Investment & Securities. The purpose of the program is stock price stabilization and shareholder value enhancement. The program will expire on July 31, 2023. As of January 31, 2023, the company had 404,153 shares in treasury within the scope available for dividend payable and no shares through other acquisition. 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. 3 experienced directors. No highly experienced directors. 1 independent director (2 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. Annuncio • Nov 05
Asia Holdings Co., Ltd. (KOSE:A002030) announces an Equity Buyback for KRW 2,000 million worth of its shares. Asia Holdings Co., Ltd. (KOSE:A002030) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares according to the contract with NH Investment & Securities. The purpose of the program is stock price stabilization and shareholder value enhancement. The program will expire on May 3, 2023. As of November 3, 2022, the company had 388,753 shares in treasury within the scope available for dividend payable and no shares through other acquisition. Annuncio • Aug 27
Asia Holdings Co., Ltd. (KOSE:A002030) announces an Equity Buyback for KRW 2,000 million worth of its shares. Asia Holdings Co., Ltd. (KOSE:A002030) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares according to the contract with NH Investment & Securities. The purpose of the program is stock price stabilization and shareholder value enhancement. The program will expire on February 25, 2023. As of August 25, 2022, the company had 371,424 shares in treasury within the scope available for dividend payable and 0 shares through other acquisition. Annuncio • Jun 21
Asia Holdings Co., Ltd. (KOSE:A002030) announces an Equity Buyback for KRW 2,000 million worth of its shares. Asia Holdings Co., Ltd. (KOSE:A002030) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares according to the contract with NH Investment & Securities. The purpose of the program is stock price stabilization and shareholder value enhancement. The program will expire on December 20, 2022. As of June 20, 2022, the company had 354,824 shares in treasury within the scope available for dividend payable and 0 shares through other acquisition. Reported Earnings • May 22
First quarter 2022 earnings released: EPS: ₩6,257 (vs ₩8,356 in 1Q 2021) First quarter 2022 results: EPS: ₩6,257 (down from ₩8,356 in 1Q 2021). Revenue: ₩449.8b (up 16% from 1Q 2021). Net income: ₩11.6b (down 25% from 1Q 2021). Profit margin: 2.6% (down from 4.0% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. 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. 3 experienced directors. No highly experienced directors. 1 independent director (2 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 • Mar 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₩46,885 (up from ₩23,623 in FY 2020). Revenue: ₩1.85t (up 21% from FY 2020). Net income: ₩86.7b (up 94% from FY 2020). Profit margin: 4.7% (up from 2.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 12% 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 22
Upcoming dividend of ₩2,000 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 13 April 2022. Payout ratio is a comfortable 5.0% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment improved over the past week After last week's 25% share price gain to ₩167,000, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 12x in the Forestry industry in South Korea. Total returns to shareholders of 33% over the past three years. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improved over the past week After last week's 16% share price gain to ₩108,000, the stock trades at a trailing P/E ratio of 4.6x. Average trailing P/E is 19x in the Forestry industry in South Korea. Total loss to shareholders of 8.3% over the past three years. Annuncio • Feb 27
Asia Holdings Co., Ltd., Annual General Meeting, Mar 19, 2021 Asia Holdings Co., Ltd., Annual General Meeting, Mar 19, 2021, at 09:01 Korea Standard Time. Is New 90 Day High Low • Feb 22
New 90-day high: ₩97,200 The company is up 10.0% from its price of ₩88,700 on 24 November 2020. The South Korean market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Forestry industry, which is up 21% over the same period. Is New 90 Day High Low • Jan 21
New 90-day high: ₩96,100 The company is up 18% from its price of ₩81,600 on 23 October 2020. The South Korean market is up 31% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Forestry industry, which is up 24% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩1,750 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 2.0% is below the top quartile of South Korean dividend payers (2.6%), but it is higher than industry peers (1.7%). Is New 90 Day High Low • Nov 09
New 90-day high: ₩82,700 The company is up 9.0% from its price of ₩76,200 on 11 August 2020. The South Korean market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Forestry industry, which is down 5.0% over the same period. Is New 90 Day High Low • Oct 19
New 90-day high: ₩82,200 The company is up 15% from its price of ₩71,700 on 21 July 2020. The South Korean market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Forestry industry, which is down 1.0% over the same period.