Buy Or Sell Opportunity • Jul 31
Now 30% overvalued Over the last 90 days, the stock has fallen 45% to ₩7,650. The fair value is estimated to be ₩5,864, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 28% over the last year. Earnings per share has declined by 71%. Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩6,950, the stock trades at a trailing P/E ratio of 22.5x. Average trailing P/E is 19x in the Electrical industry in South Korea. Total loss to shareholders of 49% over the past year. Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩9,610, the stock trades at a trailing P/E ratio of 31.1x. Average trailing P/E is 31x in the Electrical industry in South Korea. Total loss to shareholders of 24% over the past year. New Risk • Jun 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩144.6b (US$94.6m) This is considered a minor 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 Earnings have declined by 53% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (5.4% net profit margin). Market cap is less than US$100m (₩144.6b market cap, or US$94.6m). Valuation Update With 7 Day Price Move • May 29
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩12,000, the stock trades at a trailing P/E ratio of 37.9x. Average trailing P/E is 41x in the Electrical industry in South Korea. Total returns to shareholders of 4.3% over the past year. Buy Or Sell Opportunity • Apr 03
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 28% to ₩12,370. The fair value is estimated to be ₩10,015, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Earnings per share has declined by 105%. Reported Earnings • Mar 24
Full year 2025 earnings released: EPS: ₩316 (vs ₩1,394 in FY 2024) Full year 2025 results: EPS: ₩316 (down from ₩1,394 in FY 2024). Revenue: ₩85.6b (down 35% from FY 2024). Net income: ₩4.76b (down 73% from FY 2024). Profit margin: 5.6% (down from 13% in FY 2024). The decrease in margin was driven by lower revenue. Aankondiging • Mar 07
Sung Woo Co.,Ltd, Annual General Meeting, Mar 27, 2026 Sung Woo Co.,Ltd, Annual General Meeting, Mar 27, 2026, at 08:30 Tokyo Standard Time. Location: conference room, 86-15 1gongdan-ro 5-gil, gyeongsangbuk-do, gumi South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩11,000, the stock trades at a trailing P/E ratio of 36.2x. Average trailing P/E is 38x in the Electrical industry in South Korea. Total loss to shareholders of 45% over the past year. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩12,790, the stock trades at a trailing P/E ratio of 42.1x. Average trailing P/E is 28x in the Electrical industry in South Korea. Total loss to shareholders of 22% over the past year. New Risk • Jan 06
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: Major Risk Revenue has declined by 29% over the past year. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Profit margins are more than 30% lower than last year (4.8% net profit margin). Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to ₩12,530, the stock trades at a trailing P/E ratio of 41.3x. Average trailing P/E is 27x in the Electrical industry in South Korea. Total loss to shareholders of 29% over the past year. 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. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (0.6%). Buy Or Sell Opportunity • Dec 16
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to ₩10,300. The fair value is estimated to be ₩13,124, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 106%. Buy Or Sell Opportunity • Nov 21
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to ₩10,270. The fair value is estimated to be ₩13,127, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 106%. Reported Earnings • Nov 19
Third quarter 2025 earnings released: EPS: ₩97.00 (vs ₩279 in 3Q 2024) Third quarter 2025 results: EPS: ₩97.00 (down from ₩279 in 3Q 2024). Revenue: ₩21.3b (down 32% from 3Q 2024). Net income: ₩1.46b (down 56% from 3Q 2024). Profit margin: 6.8% (down from 11% in 3Q 2024). The decrease in margin was driven by lower revenue. Buy Or Sell Opportunity • Oct 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.6% to ₩12,250. The fair value is estimated to be ₩15,314, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 24% over the last year. Earnings per share has declined by 74%. Buy Or Sell Opportunity • Aug 18
Now 20% undervalued Over the last 90 days, the stock has risen 1.9% to ₩13,000. The fair value is estimated to be ₩16,254, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 24% over the last year. Earnings per share has declined by 74%. Reported Earnings • Aug 16
Second quarter 2025 earnings released: ₩119 loss per share (vs ₩483 profit in 2Q 2024) Second quarter 2025 results: ₩119 loss per share (down from ₩483 profit in 2Q 2024). Revenue: ₩20.8b (down 38% from 2Q 2024). Net loss: ₩1.79b (down 131% from profit in 2Q 2024). Upcoming Dividend • Jul 24
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 31 July 2025. Payment date: 29 August 2025. Trailing yield: 1.1%. Lower than top quartile of South Korean dividend payers (3.4%). Higher than average of industry peers (0.8%). New Risk • May 21
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 0% Dividend yield: 1.2% 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: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Revenue has declined by 18% over the past year. Minor Risk Dividend is not well covered by cash flows (0% cash payout ratio). Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩12,630, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 16x in the Electrical industry in South Korea. Reported Earnings • Mar 25
Full year 2024 earnings released: EPS: ₩1,394 (vs ₩2,142 in FY 2023) Full year 2024 results: EPS: ₩1,394 (down from ₩2,142 in FY 2023). Revenue: ₩130.9b (down 11% from FY 2023). Net income: ₩17.6b (down 28% from FY 2023). Profit margin: 13% (down from 17% in FY 2023). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩21,350, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 19x in the Electrical industry in South Korea. Aankondiging • Mar 07
Sung Woo Co.,Ltd, Annual General Meeting, Mar 27, 2025 Sung Woo Co.,Ltd, Annual General Meeting, Mar 27, 2025, at 09:01 Tokyo Standard Time. Location: conference room, 86-15, 1gongdan 5-gil, gyeongsangbuk-do, gumi South Korea Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 37% After last week's 37% share price gain to ₩22,600, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 22x in the Electrical industry in South Korea. Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩16,840, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 19x in the Electrical industry in South Korea. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to ₩22,900, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 18x in the Electrical industry in South Korea. 
