Buy Or Sell Opportunity • Jun 12
Now 20% overvalued Over the last 90 days, the stock has fallen 1.1% to ₩1,997. The fair value is estimated to be ₩1,663, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 89%. Buy Or Sell Opportunity • May 25
Now 21% overvalued Over the last 90 days, the stock has fallen 7.1% to ₩2,040. The fair value is estimated to be ₩1,684, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 89%. 공시 • Mar 17
DaeChang Steel Co., Ltd., Annual General Meeting, Mar 31, 2026 DaeChang Steel Co., Ltd., Annual General Meeting, Mar 31, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 1213, aam-daero, namdong-gu, incheon South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 27 April 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 6.7%. Within top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (2.4%). Reported Earnings • Aug 19
Second quarter 2025 earnings released: ₩118 loss per share (vs ₩49.00 loss in 2Q 2024) Second quarter 2025 results: ₩118 loss per share (further deteriorated from ₩49.00 loss in 2Q 2024). Revenue: ₩104.7b (flat on 2Q 2024). Net loss: ₩2.50b (loss widened 143% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 115 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Jun 05
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 9.7% to ₩2,270. The fair value is estimated to be ₩1,838, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • May 20
First quarter 2025 earnings released: EPS: ₩58.00 (vs ₩47.00 in 1Q 2024) First quarter 2025 results: EPS: ₩58.00 (up from ₩47.00 in 1Q 2024). Revenue: ₩96.0b (down 9.4% from 1Q 2024). Net income: ₩1.23b (up 23% from 1Q 2024). Profit margin: 1.3% (up from 0.9% in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. New Risk • Apr 01
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 7.4% 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 Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Market cap is less than US$100m (₩42.8b market cap, or US$29.2m). 공시 • Mar 18
DaeChang Steel Co., Ltd., Annual General Meeting, Mar 31, 2025 DaeChang Steel Co., Ltd., Annual General Meeting, Mar 31, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 1213, aam-daero, namdong-gu, incheon South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 28 April 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 6.9%. Within top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (2.9%). Buy Or Sell Opportunity • Jun 11
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 3.2% to ₩2,570. The fair value is estimated to be ₩2,138, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • May 20
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at ₩2,565. The fair value is estimated to be ₩2,107, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Mar 27
Full year 2023 earnings released: EPS: ₩122 (vs ₩2,641 in FY 2022) Full year 2023 results: EPS: ₩122 (down from ₩2,641 in FY 2022). Revenue: ₩419.8b (up 5.3% from FY 2022). Net income: ₩2.58b (down 95% from FY 2022). Profit margin: 0.6% (down from 14% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Mar 22
Now 21% overvalued Over the last 90 days, the stock has fallen 5.5% to ₩2,565. The fair value is estimated to be ₩2,128, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Meanwhile, the company has become profitable. Upcoming Dividend • Dec 20
Upcoming dividend of ₩150 per share at 5.5% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 25 April 2024. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 5.5%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (2.7%). Upcoming Dividend • Dec 21
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 26 April 2023. Payout ratio is a comfortable 5.6% but the company is not cash flow positive. Trailing yield: 4.8%. Within top quartile of South Korean dividend payers (3.3%). In line with average of industry peers (4.4%). 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. 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. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improved over the past week After last week's 19% share price gain to ₩4,475, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 8x in the Metals and Mining industry in South Korea. Total returns to shareholders of 78% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 25 April 2022. Payout ratio is a comfortable 24% but the company is paying out more than the cash it is generating. Trailing yield: 3.2%. Within top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (2.3%). Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩2,945, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 11x in the Metals and Mining industry in South Korea. Total returns to shareholders of 4.1% over the past three years. Is New 90 Day High Low • Mar 16
New 90-day high: ₩2,800 The company is up 11% from a price of ₩2,530 on 16 December 2020. Outperformed the South Korean market which is up 9.0% over the last 90 days. Lagged the Metals and Mining industry, which is up 12% over the same period. Is New 90 Day High Low • Jan 05
New 90-day high: ₩2,720 The company is up 16% from its price of ₩2,340 on 07 October 2020. The South Korean market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 26% over the same period. Is New 90 Day High Low • Dec 07
New 90-day high: ₩2,510 The company is up 22% from its price of ₩2,055 on 08 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 24% over the same period. Is New 90 Day High Low • Oct 13
New 90-day high: ₩2,450 The company is up 17% from its price of ₩2,100 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 Metals and Mining industry, which is up 9.0% over the same period. Is New 90 Day High Low • Sep 22
New 90-day high: ₩2,395 The company is up 26% from its price of ₩1,905 on 23 June 2020. The South Korean market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 8.0% over the same period.