Aankondiging • Mar 12
THINKWARE Corporation, Annual General Meeting, Mar 30, 2026 THINKWARE Corporation, Annual General Meeting, Mar 30, 2026, at 09:01 Tokyo Standard Time. Location: seminar room, 22, daewangpangyo-ro 712beon-gil, bundang-gu, gyeonggi-do, seongnam South Korea New Risk • Nov 24
New major risk - Revenue and earnings growth Earnings have declined by 7.3% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.3% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩90.7b market cap, or US$61.6m). Aankondiging • Mar 13
THINKWARE Corporation, Annual General Meeting, Mar 27, 2025 THINKWARE Corporation, Annual General Meeting, Mar 27, 2025, at 09:01 Tokyo Standard Time. Location: conference room, 22, daewangpangyo-ro 712beon-gil, bundang-gu, gyeonggi-do, seongnam South Korea Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩10,020, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 10x in the Consumer Durables industry in South Korea. Total loss to shareholders of 39% over the past three years. 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 Risk Market cap is less than US$100m (₩95.8b market cap, or US$66.7m). New Risk • Dec 08
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 (₩89.5b market cap, or US$62.9m). New Risk • Sep 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩9,950, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 12x in the Consumer Durables industry in South Korea. Total loss to shareholders of 41% over the past three years. New Risk • Jun 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩135.9b (US$99.5m) 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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 22
Full year 2023 earnings released: EPS: ₩1,293 (vs ₩354 in FY 2022) Full year 2023 results: EPS: ₩1,293 (up from ₩354 in FY 2022). Revenue: ₩420.6b (up 25% from FY 2022). Net income: ₩15.6b (up 365% from FY 2022). Profit margin: 3.7% (up from 1.0% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: ₩504 (vs ₩251 in 3Q 2022) Third quarter 2023 results: EPS: ₩504 (up from ₩251 in 3Q 2022). Revenue: ₩106.1b (up 18% from 3Q 2022). Net income: ₩6.07b (up 156% from 3Q 2022). Profit margin: 5.7% (up from 2.6% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. New Risk • Oct 23
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩133.0b (US$98.3m) 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: Minor Risks Share price has been volatile over the past 3 months (9.1% average weekly change). Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (₩133.0b market cap, or US$98.3m). New Risk • Oct 03
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 8.8% 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 (8.8% average weekly change). Shareholders have been diluted in the past year (11% increase in shares outstanding). Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩14,600, the stock trades at a trailing P/E ratio of 34.5x. Average trailing P/E is 15x in the Consumer Durables industry in South Korea. Total returns to shareholders of 49% over the past three years. New Risk • Jul 01
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩131.4b (US$99.8m) 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: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (₩131.4b market cap, or US$99.8m). Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: ₩354 (vs ₩691 in FY 2021) Full year 2022 results: EPS: ₩354 (down from ₩691 in FY 2021). Revenue: ₩336.7b (up 49% from FY 2021). Net income: ₩3.35b (down 49% from FY 2021). Profit margin: 1.0% (down from 2.9% in FY 2021). Over the last 3 years on average, earnings per share has increased by 36% per year and the company’s share price has also increased by 36% per year. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: ₩251 (vs ₩187 in 3Q 2021) Third quarter 2022 results: EPS: ₩251 (up from ₩187 in 3Q 2021). Revenue: ₩89.7b (up 64% from 3Q 2021). Net income: ₩2.37b (up 34% from 3Q 2021). Profit margin: 2.6% (down from 3.2% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: ₩251 (vs ₩187 in 3Q 2021) Third quarter 2022 results: EPS: ₩251 (up from ₩187 in 3Q 2021). Revenue: ₩89.7b (up 64% from 3Q 2021). Net income: ₩2.37b (up 34% from 3Q 2021). Profit margin: 2.6% (down from 3.2% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩13,300, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 10x in the Consumer Durables industry in South Korea. Total returns to shareholders of 77% over the past three years. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩13,350, the stock trades at a trailing P/E ratio of 24.7x. Average trailing P/E is 16x in the Consumer Durables industry in South Korea. Total returns to shareholders of 52% over the past three years. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS ₩187 (vs ₩328 in 3Q 2020) The company reported a poor third quarter result with weaker earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: ₩54.6b (flat on 3Q 2020). Net income: ₩1.77b (down 43% from 3Q 2020). Profit margin: 3.2% (down from 5.7% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Aankondiging • Jun 15
THINKWARE Corporation announced that it has received KRW 29.209488 billion in funding On June 15, 2021, THINKWARE Corporation (KOSDAQ:A084730) closed the transaction. Aankondiging • Jun 02
THINKWARE Corporation announced that it expects to receive KRW 29.209488 billion in funding THINKWARE Corporation (KOSDAQ:A084730) announced a private placement of 2,258,000 redeemable convertible preferred stares at a price of KRW 12,936 per share for gross proceeds of KRW 29,209,488,000 on June 1, 2021. The transaction will include participation from new investor, Arges Growth Capital No. 1 Private Equity Limited Partnership. The preferred shares will be convertible into 2,258,000 shares of the company between the period of June 16, 2022 to June 15, 2026. Post the closing, the number of shares have increased from 10,425,682 to ?12,683,682?. The shares will be issued at a premium. The shares will be issued through third party allotment method. The payment date is June 15, 2021. The transaction has been approved by the board of directors of the company. Reported Earnings • May 17
First quarter 2021 earnings released: EPS ₩156 (vs ₩35.00 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₩46.9b (up 22% from 1Q 2020). Net income: ₩1.47b (up 351% from 1Q 2020). Profit margin: 3.1% (up from 0.8% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 21
Full year 2020 earnings released: EPS ₩901 (vs ₩430 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₩197.6b (up 8.4% from FY 2019). Net income: ₩8.50b (up 110% from FY 2019). Profit margin: 4.3% (up from 2.2% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩15,750, the stock is trading at a trailing P/E ratio of 26x, down from the previous P/E ratio of 30.8x. This compares to an average P/E of 15x in the Consumer Durables industry in South Korea. Total returns to shareholders over the past three years are 49%. Is New 90 Day High Low • Jan 25
New 90-day high: ₩20,450 The company is up 121% from its price of ₩9,240 on 27 October 2020. The South Korean market is up 33% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 57% over the same period. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improved over the past week After last week's 28% share price gain to ₩15,750, the stock is trading at a trailing P/E ratio of 26x, up from the previous P/E ratio of 20.3x. This compares to an average P/E of 15x in the Consumer Durables industry in South Korea. Total returns to shareholders over the past three years are 50%. Is New 90 Day High Low • Jan 08
New 90-day high: ₩15,750 The company is up 51% from its price of ₩10,400 on 08 October 2020. The South Korean market is up 25% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 29% over the same period. Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩11,300, the stock is trading at a trailing P/E ratio of 18.7x, down from the previous P/E ratio of 22x. This compares to an average P/E of 14x in the Consumer Durables industry in South Korea. Total returns to shareholders over the past three years are 14%. Valuation Update With 7 Day Price Move • Dec 08
Market bids up stock over the past week After last week's 21% share price gain to ₩12,600, the stock is trading at a trailing P/E ratio of 20.8x, up from the previous P/E ratio of 17.2x. This compares to an average P/E of 14x in the Consumer Durables industry in South Korea. Total returns to shareholders over the past three years are 19%. Valuation Update With 7 Day Price Move • Dec 04
Market bids up stock over the past week After last week's 21% share price gain to ₩12,550, the stock is trading at a trailing P/E ratio of 20.7x, up from the previous P/E ratio of 17.1x. This compares to an average P/E of 14x in the Consumer Durables industry in South Korea. Total returns to shareholders over the past three years are 17%. Is New 90 Day High Low • Dec 03
New 90-day high: ₩11,400 The company is up 25% from its price of ₩9,140 on 04 September 2020. The South Korean market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is down 1.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS ₩328 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₩54.7b (up 33% from 3Q 2019). Net income: ₩3.09b (up 280% from 3Q 2019). Profit margin: 5.7% (up from 2.0% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 2% per year. Is New 90 Day High Low • Oct 08
New 90-day high: ₩10,400 The company is up 8.0% from its price of ₩9,630 on 10 July 2020. The South Korean market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 23% over the same period.