Buy Or Sell Opportunity • May 06
Now 34% overvalued after recent price rise Over the last 90 days, the stock has risen 139% to ₩1,586. The fair value is estimated to be ₩1,182, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Apr 16
Now 35% overvalued after recent price rise Over the last 90 days, the stock has risen 132% to ₩1,647. The fair value is estimated to be ₩1,220, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Meanwhile, the company became loss making. 공시 • Mar 04
Lumens Co., Ltd., Annual General Meeting, Mar 30, 2026 Lumens Co., Ltd., Annual General Meeting, Mar 30, 2026, at 09:00 Tokyo Standard Time. Location: conference room, 51, hagal-ro 86beon-gil, giheung-gu, gyeonggi-do, yongin South Korea Buy Or Sell Opportunity • Feb 26
Now 24% undervalued Over the last 90 days, the stock has risen 10% to ₩716. The fair value is estimated to be ₩943, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jan 15
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.2% to ₩718. The fair value is estimated to be ₩933, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Meanwhile, the company became loss making. New Risk • Jan 14
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 9.2% 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 (9.2% average weekly change). Market cap is less than US$100m (₩38.0b market cap, or US$25.7m). Reported Earnings • Aug 16
Second quarter 2025 earnings released: ₩106 loss per share (vs ₩29.00 profit in 2Q 2024) Second quarter 2025 results: ₩106 loss per share (down from ₩29.00 profit in 2Q 2024). Revenue: ₩36.7b (down 12% from 2Q 2024). Net loss: ₩5.08b (down 476% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 11% per year. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩899, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 13x in the Semiconductor industry in South Korea. Total loss to shareholders of 35% over the past three years. Reported Earnings • Mar 22
Full year 2024 earnings released: EPS: ₩185 (vs ₩85.00 in FY 2023) Full year 2024 results: EPS: ₩185 (up from ₩85.00 in FY 2023). Revenue: ₩174.2b (up 1.7% from FY 2023). Net income: ₩8.84b (up 121% from FY 2023). Profit margin: 5.1% (up from 2.3% in FY 2023). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. 공시 • Mar 14
Lumens Co., Ltd., Annual General Meeting, Mar 26, 2025 Lumens Co., Ltd., Annual General Meeting, Mar 26, 2025, at 09:01 Tokyo Standard Time. Location: conference room, 58, giheung-ro, giheung-gu, gyeonggi-do, yongin South Korea New Risk • Dec 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% 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: Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Market cap is less than US$100m (₩51.3b market cap, or US$34.9m). Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: ₩10.00 (vs ₩43.00 in 3Q 2023) Third quarter 2024 results: EPS: ₩10.00 (down from ₩43.00 in 3Q 2023). Revenue: ₩48.0b (up 1.4% from 3Q 2023). Net income: ₩497.6m (down 76% from 3Q 2023). Profit margin: 1.0% (down from 4.3% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩1,403, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 14x in the Semiconductor industry in South Korea. Total returns to shareholders of 40% over the past three years. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩1,220, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 15x in the Semiconductor industry in South Korea. Total returns to shareholders of 20% over the past three years. New Risk • Sep 17
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 Market cap is less than US$100m (₩47.9b market cap, or US$36.4m). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: ₩67.00 (vs ₩79.00 in 1Q 2023) First quarter 2024 results: EPS: ₩67.00 (down from ₩79.00 in 1Q 2023). Revenue: ₩39.2b (down 11% from 1Q 2023). Net income: ₩3.16b (down 14% from 1Q 2023). Profit margin: 8.1% (down from 8.4% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 23
Full year 2023 earnings released: EPS: ₩85.00 (vs ₩338 in FY 2022) Full year 2023 results: EPS: ₩85.00 (down from ₩338 in FY 2022). Revenue: ₩171.2b (up 3.0% from FY 2022). Net income: ₩4.01b (down 75% from FY 2022). Profit margin: 2.3% (down from 9.6% 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 45% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 17
Third quarter 2023 earnings released: EPS: ₩43.00 (vs ₩66.00 in 3Q 2022) Third quarter 2023 results: EPS: ₩43.00 (down from ₩66.00 in 3Q 2022). Revenue: ₩47.3b (up 20% from 3Q 2022). Net income: ₩2.04b (down 35% from 3Q 2022). Profit margin: 4.3% (down from 7.9% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Reported Earnings • May 20
First quarter 2023 earnings released: EPS: ₩79.00 (vs ₩396 in 1Q 2022) First quarter 2023 results: EPS: ₩79.00 (down from ₩396 in 1Q 2022). Revenue: ₩43.8b (down 12% from 1Q 2022). Net income: ₩3.70b (down 80% from 1Q 2022). Profit margin: 8.4% (down from 37% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 126% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩1,643, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 12x in the Semiconductor industry in South Korea. Total loss to shareholders of 3.4% over the past three years. Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: ₩338 (vs ₩324 loss in FY 2021) Full year 2022 results: EPS: ₩338 (up from ₩324 loss in FY 2021). Revenue: ₩166.3b (down 3.5% from FY 2021). Net income: ₩15.9b (up ₩31.1b from FY 2021). Profit margin: 9.6% (up from net loss in FY 2021). Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩1,208, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 9x in the Semiconductor industry in South Korea. Total loss to shareholders of 56% over the past three years. 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. 8 experienced directors. No highly experienced directors. 2 independent directors (6 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 • Nov 13
Third quarter 2022 earnings released: EPS: ₩66.00 (vs ₩51.00 in 3Q 2021) Third quarter 2022 results: EPS: ₩66.00 (up from ₩51.00 in 3Q 2021). Revenue: ₩39.5b (down 31% from 3Q 2021). Net income: ₩3.11b (up 29% from 3Q 2021). Profit margin: 7.9% (up from 4.2% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. 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. 8 experienced directors. No highly experienced directors. 2 independent directors (6 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 • Nov 18
Third quarter 2021 earnings released: EPS ₩51.00 (vs ₩75.44 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₩56.9b (down 25% from 3Q 2020). Net income: ₩2.41b (down 31% from 3Q 2020). Profit margin: 4.2% (down from 4.6% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 10
Full year 2020 earnings released: ₩374 loss per share (vs ₩1,341 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: ₩331.6b (up 2.5% from FY 2019). Net loss: ₩17.4b (loss narrowed 72% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Dec 16
New 90-day high: ₩2,905 The company is up 66% from its price of ₩1,745 on 17 September 2020. The South Korean market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 27% over the same period. Reported Earnings • Nov 18
Third quarter 2020 earnings released: EPS ₩75.00 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₩103.2b (up 8.6% from 3Q 2019). Net income: ₩3.48b (up 75% from 3Q 2019). Profit margin: 3.4% (up from 2.1% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 77% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 05
New 90-day high: ₩1,865 The company is up 1.0% from its price of ₩1,855 on 07 August 2020. The South Korean market is also up 1.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Semiconductor industry, which is flat over the same period.