New Risk • May 13
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 14% 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 High level of non-cash earnings (28% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (₩97.9b market cap, or US$65.7m). Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to ₩21,850, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 30x in the Semiconductor industry in South Korea. Total loss to shareholders of 70% over the past three years. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩16,650, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 31x in the Semiconductor industry in South Korea. Total loss to shareholders of 78% over the past three years. 공시 • Mar 17
Mirae Corporation, Annual General Meeting, Mar 27, 2026 Mirae Corporation, Annual General Meeting, Mar 27, 2026, at 09:01 Tokyo Standard Time. Location: auditorium, 65, baeseok gongdan7-ro, seobuk-gu, chungcheongnam-do, cheonan South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₩12,070, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 22x in the Semiconductor industry in South Korea. Total loss to shareholders of 75% over the past three years. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ₩1,434 (vs ₩3,846 in 3Q 2024) Third quarter 2025 results: EPS: ₩1,434 (down from ₩3,846 in 3Q 2024). Revenue: ₩22.6b (up 263% from 3Q 2024). Net income: ₩6.41b (down 14% from 3Q 2024). Profit margin: 28% (down from 120% in 3Q 2024). 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 • Aug 16
Second quarter 2025 earnings released: EPS: ₩310 (vs ₩2,010 loss in 2Q 2024) Second quarter 2025 results: EPS: ₩310 (up from ₩2,010 loss in 2Q 2024). Revenue: ₩6.81b (up 16% from 2Q 2024). Net income: ₩1.31b (up ₩5.13b from 2Q 2024). Profit margin: 19% (up from net loss in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has fallen by 28% per year, which means it is performing significantly worse than earnings. New Risk • Jun 27
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩2.98b (US$2.19m) 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 Risks High level of non-cash earnings (55% accrual ratio). Shareholders have been substantially diluted in the past year (136% increase in shares outstanding). Market cap is less than US$10m (₩2.98b market cap, or US$2.19m). Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩647, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 12x in the Semiconductor industry in South Korea. Total loss to shareholders of 73% over the past three years. Reported Earnings • Mar 22
Full year 2024 earnings released: EPS: ₩217 (vs ₩1,007 loss in FY 2023) Full year 2024 results: EPS: ₩217 (up from ₩1,007 loss in FY 2023). Revenue: ₩27.0b (up 24% from FY 2023). Net income: ₩7.11b (up ₩36.1b from FY 2023). Profit margin: 26% (up from net loss in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 42 percentage points per year, which is a significant difference in performance. 공시 • Mar 06
Mirae Corporation, Annual General Meeting, Mar 26, 2025 Mirae Corporation, Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: auditorium, 65, baeseok gongdan7-ro, seobuk-gu, chungcheongnam-do, cheonan South Korea 공시 • Jan 22
Mirae Corporation has completed a Follow-on Equity Offering in the amount of KRW 999.999704 million. Mirae Corporation has completed a Follow-on Equity Offering in the amount of KRW 999.999704 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,336,898
Price\Range: KRW 748 공시 • Jan 17
Mirae Corporation has filed a Follow-on Equity Offering in the amount of KRW 999.999704 million. Mirae Corporation has filed a Follow-on Equity Offering in the amount of KRW 999.999704 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,336,898
Price\Range: KRW 748 New Risk • Jan 02
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 76% This is considered a major 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 Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 34% per year over the past 5 years. Shareholders have been substantially diluted in the past year (76% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩43.0b market cap, or US$29.3m). 공시 • Nov 23
Mirae Corporation has completed a Follow-on Equity Offering in the amount of KRW 29.146 billion. Mirae Corporation has completed a Follow-on Equity Offering in the amount of KRW 29.146 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 38,000,000
Price\Range: KRW 767
Discount Per Security: KRW 15.34
Transaction Features: Rights Offering New Risk • Nov 01
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -₩19b This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 34% per year over the past 5 years. Minor Risks Less than 1 year of cash runway based on current free cash flow (-₩19b). Shareholders have been diluted in the past year (2.8% increase in shares outstanding). Market cap is less than US$100m (₩40.6b market cap, or US$29.6m). 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 Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (2.8% increase in shares outstanding). Market cap is less than US$100m (₩40.1b market cap, or US$30.4m). 공시 • Aug 27
Mirae Corporation has filed a Follow-on Equity Offering in the amount of KRW 40.774 billion. Mirae Corporation has filed a Follow-on Equity Offering in the amount of KRW 40.774 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 38,000,000
Price\Range: KRW 1073
Transaction Features: Rights Offering New Risk • Aug 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.4% 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 Earnings have declined by 10% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Shareholders have been diluted in the past year (2.4% increase in shares outstanding). Market cap is less than US$100m (₩63.7b market cap, or US$46.8m). New Risk • Mar 28
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 10% 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 (10% average weekly change). Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (₩79.8b market cap, or US$59.1m). Reported Earnings • Mar 15
Full year 2023 earnings released: ₩1,060 loss per share (vs ₩177 profit in FY 2022) Full year 2023 results: ₩1,060 loss per share (down from ₩177 profit in FY 2022). Revenue: ₩21.7b (down 61% from FY 2022). Net loss: ₩30.5b (down ₩35.2b from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Mar 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 21% to ₩2,085. The fair value is estimated to be ₩2,609, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years, while earnings per share has been flat. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩31,300, the stock trades at a trailing P/E ratio of 44.1x. Average trailing P/E is 14x in the Semiconductor industry in South Korea. Total returns to shareholders of 102% over the past three years. Valuation Update With 7 Day Price Move • Jul 13
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ₩30,750, the stock trades at a trailing P/E ratio of 38.9x. Average trailing P/E is 15x in the Semiconductor industry in South Korea. Total returns to shareholders of 79% over the past three years. 공시 • Jun 28
Mirae Corporation announced that it expects to receive KRW 5 billion in funding from EV Advanced Material Co.,Ltd Mirae Corporation announced a private placement of series 9 non-guaranteed private placement convertible bond for gross proceeds of KRW 5,000,000,000 on June 26, 2023. The transaction will include participation from new investor, EV Advanced Material Co.,Ltd. The bonds carry an interest rate of 3% and yield to maturity rate of 5% maturing on September 22, 2026. The bonds are fully convertible into 193,281 common shares at an issue conversion price of KRW 25,869 between the period starting from September 22, 2024 and ending on August 22. 2026. The transaction has been approved by board of directors of the company. The expected date of payment is September 22, 2023. The securities have a hold period of one year from the date of issuance. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩26,350, the stock trades at a trailing P/E ratio of 33.3x. Average trailing P/E is 14x in the Semiconductor industry in South Korea. Total returns to shareholders of 33% over the past three years. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩29,650, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 13x in the Semiconductor industry in South Korea. Total returns to shareholders of 45% over the past three years. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩26,300, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 13x in the Semiconductor industry in South Korea. Total loss to shareholders of 3.5% over the past three years. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩23,050, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 11x in the Semiconductor industry in South Korea. Total loss to shareholders of 11% over the past three years. Reported Earnings • Mar 23
Full year 2022 earnings released: EPS: ₩1,811 (vs ₩1,843 in FY 2021) Full year 2022 results: EPS: ₩1,811. Revenue: ₩56.2b (up 16% from FY 2021). Net income: ₩8.02b (up 7.1% from FY 2021). Profit margin: 14% (down from 16% in FY 2021). Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 37% After last week's 37% share price gain to ₩19,400, the stock trades at a trailing P/E ratio of 5.7x. Average trailing P/E is 10x in the Semiconductor industry in South Korea. Total loss to shareholders of 30% over the past three years. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩14,980, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 10x in the Semiconductor industry in South Korea. Total loss to shareholders of 45% over the past three years. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 15% share price gain to ₩12,500, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 9x in the Semiconductor industry in South Korea. Total loss to shareholders of 62% over the past three years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 19% share price gain to ₩13,500, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 10x in the Semiconductor industry in South Korea. Total loss to shareholders of 64% 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. 2 highly experienced directors. 2 independent directors (6 non-independent directors). Director of Display Division and Director of GLD Co Ltd Do Young Cho was the last director to join the board, commencing their role in 2005. 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 • Oct 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩7,850, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 9x in the Semiconductor industry in South Korea. Total loss to shareholders of 82% over the past three years. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩11,200, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 12x in the Semiconductor industry in South Korea. Total loss to shareholders of 82% over the past three years. 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. 2 highly experienced directors. 2 independent directors (6 non-independent directors). Director of Display Division and Director of GLD Co Ltd Do Young Cho was the last director to join the board, commencing their role in 2005. 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 • Apr 01
Investor sentiment improved over the past week After last week's 33% share price gain to ₩18,750, the stock trades at a trailing P/E ratio of 11.1x. Average trailing P/E is 16x in the Semiconductor industry in South Korea. Total loss to shareholders of 54% over the past three years. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 17% share price gain to ₩15,800, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 19x in the Semiconductor industry in South Korea. Total loss to shareholders of 64% over the past three years. 공시 • Mar 16
Mirae Corporation, Annual General Meeting, Mar 30, 2021 Mirae Corporation, Annual General Meeting, Mar 30, 2021, at 09:00 Korea Standard Time. 공시 • Feb 05
Mirae Corporation announced that it has received KRW 1.1000008 billion in funding Mirae Corporation (KOSE:A025560) announced private placement of 6th bearer no interest department non-guaranteed unsecured private convertible bonds for gross proceeds of KRW 1,100,000,800 on February 4, 2021. Kyung-tae Kim invested KRW 649,180,800, Woounghyun Yoo invested KRW 270,492,000, and Tae-oh None Park invested KRW 180,328,000. The transaction has been approved by the board of directors of the company. Is New 90 Day High Low • Dec 21
New 90-day high: ₩3,500 The company is up 11% from its price of ₩3,165 on 22 September 2020. The South Korean market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 28% over the same period. Reported Earnings • Nov 19
Third quarter 2020 earnings released: ₩427 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: ₩11.3b (down 37% from 3Q 2019). Net loss: ₩7.20b (loss widened 337% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. 공시 • Sep 21
Mirae Corporation(KOSE:A025560) dropped from S&P Global BMI Index Mirae Corporation(KOSE:A025560) dropped from S&P Global BMI Index 공시 • Sep 17
POBIS TNC CO., Ltd (KOSDAQ:A016670) cancelled the acquisition of 2.8% stake in Mirae Corporation (KOSE:A025560). POBIS TNC CO., Ltd (KOSDAQ:A016670) signed a contract to acquire 2.8% stake in Mirae Corporation (KOSE:A025560) for KRW 11 billion on June 18, 2019. POBIS TNC will pay consideration on August 8, 2019, in cash. The total amount will be paid from retained funds. The transaction was resolved by the Bord of Mirae Corporation.
POBIS TNC CO., Ltd (KOSDAQ:A016670) cancelled the acquisition of 2.8% stake in Mirae Corporation (KOSE:A025560) on June 18, 2020. 공시 • Jul 09
Mirae Corporation announced that it has received KRW 10 billion in funding On July 8, 2020, Mirae Corporation (KOSE:A025560) closed the transaction. 공시 • Jul 07
Mirae Corporation announced that it expects to receive KRW 10 billion in funding Mirae Corporation (KOSE:A025560) announced a private placement of 5th series unregistered coupon non-guaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on July 3, 2020. The transaction will include participation from The N Fund for KRW 7,000,000,000 and Pureum Fund 2 for KRW 3,000,000,000. The bond is issued at 2% coupon rate and 2% yield to maturity rate. The bonds will mature on July 08, 2023. The bonds can be 100% converted into 2,590,673 common shares of the company at a fixed conversion price of KRW 3,860 per share representing 15.4% of the existing issued share capital of the company. The conversion period is from July 8, 2021 to June 8, 2023. The transaction has been approved by the board of directors of the company. The transaction is expected to close on July 8, 2020. The bonds will have a lock up period of one year. 