New Risk • Jun 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 12% 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 Earnings have declined by 28% per year over the past 5 years. Minor Risks High level of debt (43% net debt to equity). Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (₩84.1b market cap, or US$53.9m). New Risk • May 29
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 43% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 28% per year over the past 5 years. Minor Risks High level of debt (43% net debt to equity). Market cap is less than US$100m (₩96.5b market cap, or US$64.5m). Announcement • Mar 17
HC BoKwang Industry Co.,Ltd, Annual General Meeting, Mar 31, 2026 HC BoKwang Industry Co.,Ltd, Annual General Meeting, Mar 31, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 40, yutongdanji-ro 3-gil, buk-gu, daegu South Korea 
