Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩4,695, the stock trades at a trailing P/E ratio of 3.3x. Average trailing P/E is 6x in the Auto Components industry in South Korea. Total loss to shareholders of 44% over the past three years. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩7,400, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 6x in the Auto Components industry in South Korea. Total loss to shareholders of 15% over the past three years. Reported Earnings • Mar 24
Full year 2025 earnings released: EPS: ₩1,888 (vs ₩977 in FY 2024) Full year 2025 results: EPS: ₩1,888 (up from ₩977 in FY 2024). Revenue: ₩403.4b (up 5.3% from FY 2024). Net income: ₩27.5b (up 89% from FY 2024). Profit margin: 6.8% (up from 3.8% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Mar 05
Dong-A Hwa Sung Co.,Ltd., Annual General Meeting, Mar 30, 2026 Dong-A Hwa Sung Co.,Ltd., Annual General Meeting, Mar 30, 2026, at 10:00 Tokyo Standard Time. Location: auditorium, 154-9, yuha-ro, gyeongsangnam-do, gimhae South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩5,770, the stock trades at a trailing P/E ratio of 3.4x. Average trailing P/E is 8x in the Auto Components industry in South Korea. Total loss to shareholders of 38% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 13 April 2026. Payout ratio is a comfortable 8.8% but the company is paying out more than the cash it is generating. Trailing yield: 2.3%. Lower than top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (2.0%). Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩6,540, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 6x in the Auto Components industry in South Korea. Total loss to shareholders of 38% over the past three years. Reported Earnings • Nov 19
Third quarter 2025 earnings released: EPS: ₩589 (vs ₩23.00 in 3Q 2024) Third quarter 2025 results: EPS: ₩589 (up from ₩23.00 in 3Q 2024). Revenue: ₩101.7b (up 4.3% from 3Q 2024). Net income: ₩8.59b (up ₩8.26b from 3Q 2024). Profit margin: 8.4% (up from 0.3% in 3Q 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Declared Dividend • Nov 08
Dividend of ₩150 announced Dividend of ₩150 is the same as last year. Ex-date: 29th December 2025 Payment date: 13th April 2026 Dividend yield will be 2.7%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (13% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 6 years. However, payments have been volatile during that time. Earnings per share has grown by 50% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Nov 07
Dong-A Hwa Sung Co.,Ltd. announces Annual dividend, payable on April 13, 2026 Dong-A Hwa Sung Co.,Ltd. announced Annual dividend of KRW 150.0000 per share payable on April 13, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Announcement • Oct 30
Samyoung Partners Co., Ltd. completed the acquisition of 42.2% stake in Dong-A Hwa Sung Co.,Ltd. (KOSDAQ:A041930) from Lim Kyung-sik, Sung Rak Je and Sung Rak Je. Samyoung Partners Co., Ltd. agreed to acquire 42.2% stake in Dong-A Hwa Sung Co.,Ltd. (KOSDAQ:A041930) from Lim Kyung-sik, Sung Rak Je and Sung Rak Je for approximately KRW 130 billion on October 15, 2025. A cash consideration of KRW 133.3 billion valued at KRW 20000 per share will be paid by Samyoung Partners. As part of consideration, KRW 133.3 billion is paid towards common equity of Dong-A Hwa Sung Co.,Ltd.
Samyoung Partners intends to fund the acquisition through reserved funds and borrowings.
The expected completion of the transaction is December 16, 2025.
Samyoung Partners Co., Ltd. completed the acquisition of 42.2% stake in Dong-A Hwa Sung Co.,Ltd. (KOSDAQ:A041930) from Lim Kyung-sik, Sung Rak Je and Sung Rak Je on October 28, 2025. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩7,550, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 7x in the Auto Components industry in South Korea. Total returns to shareholders of 4.1% over the past three years. Reported Earnings • May 20
First quarter 2025 earnings released: EPS: ₩649 (vs ₩337 in 1Q 2024) First quarter 2025 results: EPS: ₩649 (up from ₩337 in 1Q 2024). Revenue: ₩103.0b (up 11% from 1Q 2024). Net income: ₩9.47b (up 87% from 1Q 2024). Profit margin: 9.2% (up from 5.5% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • Mar 15
Dong-A Hwa Sung Co.,Ltd., Annual General Meeting, Mar 28, 2025 Dong-A Hwa Sung Co.,Ltd., Annual General Meeting, Mar 28, 2025, at 09:00 Tokyo Standard Time. Location: auditorium, 154-9, yuha-ro, gyeongsangnam-do, gimhae South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 11 April 2025. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of South Korean dividend payers (3.9%). In line with average of industry peers (2.6%). Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩5,810, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 6x in the Auto Components industry in South Korea. Total loss to shareholders of 50% over the past three years. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: ₩23.00 (vs ₩249 in 3Q 2023) Third quarter 2024 results: EPS: ₩23.00 (down from ₩249 in 3Q 2023). Revenue: ₩97.6b (flat on 3Q 2023). Net income: ₩332.9m (down 91% from 3Q 2023). Profit margin: 0.3% (down from 3.8% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. Announcement • Aug 13
Dong-A Hwa Sung Co.,Ltd. (KOSDAQ:A041930) announces an Equity Buyback for KRW 3,000 million worth of its shares. Dong-A Hwa Sung Co.,Ltd. (KOSDAQ:A041930) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,000 million worth of own shares pursuant to a contract with DB Financial Investment Co.,LTD. The purpose behind the program is to improve shareholder value and to stabilize stock price. The repurchase program will expire on February 11, 2025. As of August 11, 2024, the company had 774,185 treasury shares within scope available for dividend and no shares in treasury through other repurchase. 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 ₩5,530, the stock trades at a trailing P/E ratio of 5.7x. Average trailing P/E is 7x in the Auto Components industry in South Korea. Total loss to shareholders of 60% over the past three years. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩8,450, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 8x in the Auto Components industry in South Korea. Total loss to shareholders of 32% over the past three years. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: ₩337 (vs ₩321 in 1Q 2023) First quarter 2024 results: EPS: ₩337 (up from ₩321 in 1Q 2023). Revenue: ₩92.8b (up 2.4% from 1Q 2023). Net income: ₩5.07b (up 5.2% from 1Q 2023). Profit margin: 5.5% (up from 5.3% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 23
Full year 2023 earnings released: EPS: ₩951 (vs ₩1,017 in FY 2022) Full year 2023 results: EPS: ₩951 (down from ₩1,017 in FY 2022). Revenue: ₩368.7b (up 5.5% from FY 2022). Net income: ₩14.3b (down 7.0% from FY 2022). Profit margin: 3.9% (down from 4.4% 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 10% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩120 per share at 1.5% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 11 April 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (2.0%). Reported Earnings • Nov 17
Third quarter 2023 earnings released: EPS: ₩249 (vs ₩260 in 3Q 2022) Third quarter 2023 results: EPS: ₩249 (down from ₩260 in 3Q 2022). Revenue: ₩97.5b (up 2.6% from 3Q 2022). Net income: ₩3.74b (down 5.0% from 3Q 2022). Profit margin: 3.8% (down from 4.1% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. New Risk • Sep 01
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.9% Last year net profit margin: 6.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (1.9% net profit margin). Market cap is less than US$100m (₩125.6b market cap, or US$94.8m). New Risk • Jul 26
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩125.9b (US$98.4m) 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₩125.9b market cap, or US$98.4m). Reported Earnings • May 20
First quarter 2023 earnings released: EPS: ₩321 (vs ₩101 in 1Q 2022) First quarter 2023 results: EPS: ₩321 (up from ₩101 in 1Q 2022). Revenue: ₩90.6b (up 8.4% from 1Q 2022). Net income: ₩4.82b (up 209% from 1Q 2022). Profit margin: 5.3% (up from 1.9% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩10,700, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 9x in the Auto Components industry in South Korea. Total returns to shareholders of 125% over the past three years. Upcoming Dividend • Dec 21
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 14 April 2023. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (2.3%). Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩10,200, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 9x in the Auto Components industry in South Korea. Total returns to shareholders of 118% over the past three years. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improved over the past week After last week's 34% share price gain to ₩10,500, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 11x in the Auto Components industry in South Korea. Total returns to shareholders of 113% over the past three years. Buying Opportunity • Oct 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.6%. The fair value is estimated to be ₩9,565, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has grown by 32%. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 20% share price decline to ₩7,100, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 10x in the Auto Components industry in South Korea. Total returns to shareholders of 46% over the past three years. Buying Opportunity • Sep 23
Now 22% undervalued Over the last 90 days, the stock is up 3.7%. The fair value is estimated to be ₩10,553, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has grown by 32%. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improved over the past week After last week's 15% share price gain to ₩10,100, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 11x in the Auto Components industry in South Korea. Total returns to shareholders of 108% 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 16% share price decline to ₩8,150, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 15x in the Auto Components industry in South Korea. Total returns to shareholders of 49% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩120 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 14 April 2022. Payout ratio is a comfortable 5.6% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩13,300, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 15x in the Auto Components industry in South Korea. Total returns to shareholders of 305% over the past three years. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improved over the past week After last week's 15% share price gain to ₩15,250, the stock trades at a trailing P/E ratio of 21.2x. Average trailing P/E is 16x in the Auto Components industry in South Korea. Total returns to shareholders of 341% over the past three years. Reported Earnings • May 17
First quarter 2021 earnings released: EPS ₩330 (vs ₩200 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₩75.8b (up 21% from 1Q 2020). Net income: ₩5.11b (up ₩8.04b from 1Q 2020). Profit margin: 6.7% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 41% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improved over the past week After last week's 17% share price gain to ₩12,450, the stock is trading at a trailing P/E ratio of 45.1x, up from the previous P/E ratio of 38.6x. This compares to an average P/E of 22x in the Auto Components industry in South Korea. Total returns to shareholders over the past three years are 178%. Is New 90 Day High Low • Jan 07
New 90-day high: ₩11,550 The company is up 16% from its price of ₩10,000 on 08 October 2020. The South Korean market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 22% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩50.00 Per Share Will be paid on the 10th of April to those who are registered shareholders by the 29th of December. The trailing yield of 0.5% is below the top quartile of South Korean dividend payers (2.6%), and is lower than industry peers (1.7%). Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS ₩229 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₩76.5b (up 3.8% from 3Q 2019). Net income: ₩3.29b (up 125% from 3Q 2019). Profit margin: 4.3% (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 fallen by 33% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Oct 15
New 90-day high: ₩11,500 The company is up 32% from its price of ₩8,690 on 17 July 2020. The South Korean market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 17% over the same period. 
