New Risk • Jun 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩4.54b (US$2.93m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₩4.54b market cap, or US$2.93m). Minor Risk Profit margins are more than 30% lower than last year (3.8% net profit margin). Board Change • Jun 30
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. 5 experienced directors. No highly experienced directors. 2 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: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩511, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 20x in the Life Sciences industry in South Korea. Total loss to shareholders of 61% over the past three years. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩740, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 18x in the Life Sciences industry in South Korea. Total loss to shareholders of 41% over the past three years. 공고 • Feb 26
C&R Research Inc., Annual General Meeting, Mar 25, 2026 C&R Research Inc., Annual General Meeting, Mar 25, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 412, yeoksam-ro, gangnam-gu, seoul South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩10.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 13 April 2026. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of South Korean dividend payers (3.6%). Lower than average of industry peers (12%). New Risk • Nov 25
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 Share price has been volatile over the past 3 months (9.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.9% net profit margin). Market cap is less than US$100m (₩63.3b market cap, or US$43.2m). Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to ₩1,102, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 15x in the Life Sciences industry in South Korea. Total loss to shareholders of 5.0% over the past three years. Declared Dividend • Nov 08
Dividend of ₩10.00 announced Dividend of ₩10.00 is the same as last year. Ex-date: 29th December 2025 Payment date: 13th April 2026 Dividend yield will be 1.1%, which is higher than the industry average of 0.5%. Sustainability & Growth Dividend is covered by both earnings (15% earnings payout ratio) and cash flows (88% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Earnings per share has grown by 93% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. 공고 • Nov 07
C&R Research Inc. announces Annual dividend, payable on April 13, 2026 C&R Research Inc. announced Annual dividend of KRW 10.0000 per share payable on April 13, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩1,049, the stock trades at a trailing P/E ratio of 15.5x. Average trailing P/E is 18x in the Life Sciences industry in South Korea. Total loss to shareholders of 46% over the past three years. New Risk • Mar 27
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 82% 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 Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.4% net profit margin). Market cap is less than US$100m (₩60.6b market cap, or US$41.3m). 공고 • Feb 13
C&R Research Inc., Annual General Meeting, Mar 27, 2025 C&R Research Inc., Annual General Meeting, Mar 27, 2025, at 09:01 Tokyo Standard Time. Location: conference room, 412, yeoksam-ro, gangnam-gu, seoul South Korea 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 Risks Shareholders have been diluted in the past year (3.4% increase in shares outstanding). Market cap is less than US$100m (₩65.7b market cap, or US$45.8m). Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩1,159, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 13x in the Life Sciences industry in South Korea. Total loss to shareholders of 45% over the past three years. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩1,000, the stock trades at a trailing P/E ratio of 11x. Average trailing P/E is 12x in the Life Sciences industry in South Korea. Total loss to shareholders of 15% over the past year. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: ₩3.00 (vs ₩16.00 in 1Q 2023) First quarter 2024 results: EPS: ₩3.00 (down from ₩16.00 in 1Q 2023). Revenue: ₩14.7b (up 14% from 1Q 2023). Net income: ₩157.3m (down 82% from 1Q 2023). Profit margin: 1.1% (down from 6.9% in 1Q 2023). The decrease in margin was driven by higher expenses. New Risk • May 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risks Shareholders have been diluted in the past year (3.4% increase in shares outstanding). Market cap is less than US$100m (₩97.7b market cap, or US$72.2m). Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩1,979, the stock trades at a trailing P/E ratio of 19.6x. Average trailing P/E is 20x in the Life Sciences industry in South Korea. Total returns to shareholders of 51% over the past year. Buy Or Sell Opportunity • Apr 20
Now 32% overvalued after recent price rise Over the last 90 days, the stock has risen 61% to ₩2,010. The fair value is estimated to be ₩1,519, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩1,758, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 19x in the Life Sciences industry in South Korea. Total returns to shareholders of 39% over the past year. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to ₩1,602, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 20x in the Life Sciences industry in South Korea. Total returns to shareholders of 31% over the past year. Reported Earnings • Mar 22
Full year 2023 earnings released Full year 2023 results: Revenue: ₩55.1b (up 14% from FY 2022). Net income: ₩5.55b (up 38% from FY 2022). Profit margin: 10% (up from 8.3% in FY 2022). The increase in margin was driven by higher revenue. Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: ₩20.00 (vs ₩26.00 in 3Q 2022) Third quarter 2023 results: EPS: ₩20.00 (down from ₩26.00 in 3Q 2022). Revenue: ₩13.6b (up 7.5% from 3Q 2022). Net income: ₩1.10b (down 23% from 3Q 2022). Profit margin: 8.1% (down from 11% in 3Q 2022). The decrease in margin was driven by higher expenses.