Announcement • Mar 24
K-Robot Value Chain New Technology Core Fund No. 1 completed the acquisition of 32.72% stake in Haisung Aero-Robotics Co., Ltd. (KOSDAQ:A059270) from TPC Co., Ltd. (KOSDAQ:A130740). K-Robot Value Chain New Technology Core Fund No. 1 entered into a Share Purchase Agreement to acquire 32.72% stake in Haisung Aero-Robotics Co., Ltd. (KOSDAQ:A059270) from TPC Co., Ltd. (KOSDAQ:A130740) for KRW 31.1 billion on January 23, 2026. A cash consideration of KRW 31.05 billion valued at KRW 8500 per share will be paid by K-Robot Value Chain New Technology Core Fund No. 1. As part of consideration, KRW 31.05 billion is paid towards common equity of Haisung Aero-Robotics Co., Ltd. K-Robot Value Chain New Technology Core Fund No. 1 will pay a down payment of KRW 3.11 billion for the acquisition of Haisung Aero-Robotics Co., Ltd. on January 23, 2026, with the remaining balance of KRW 27.95 billion due on March 20, 2026.
The expected completion of the transaction is March 20, 2026.
K-Robot Value Chain New Technology Core Fund No. 1 completed the acquisition of 32.72% stake in Haisung Aero-Robotics Co., Ltd. (KOSDAQ:A059270) from TPC Co., Ltd. (KOSDAQ:A130740) on March 23, 2026. New officers will be appointed at the 29th Annual General Meeting of Shareholders on March 24, 2026. Announcement • Mar 06
TPC Co., Ltd., Annual General Meeting, Mar 26, 2026 TPC Co., Ltd., Annual General Meeting, Mar 26, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 574, iryeon-ro, jillyang-eup, gyeongsangbuk-do, gyeongsan South Korea New Risk • Mar 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South Korean stocks, typically moving 14% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. 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 14% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩20.1b market cap, or US$13.7m). New Risk • Jan 21
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 Earnings have declined by 14% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (₩30.3b market cap, or US$20.7m). Reported Earnings • Nov 14
Third quarter 2025 earnings released: ₩101 loss per share (vs ₩73.00 loss in 3Q 2024) Third quarter 2025 results: ₩101 loss per share (further deteriorated from ₩73.00 loss in 3Q 2024). Revenue: ₩19.5b (up 9.6% from 3Q 2024). Net loss: ₩1.14b (loss widened 37% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. New Risk • Sep 15
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: Major Risk Earnings have declined by 9.6% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Market cap is less than US$100m (₩26.0b market cap, or US$18.8m). Reported Earnings • Aug 16
Second quarter 2025 earnings released: EPS: ₩89.00 (vs ₩207 in 2Q 2024) Second quarter 2025 results: EPS: ₩89.00 (down from ₩207 in 2Q 2024). Revenue: ₩21.2b (down 9.1% from 2Q 2024). Net income: ₩999.3m (down 57% from 2Q 2024). Profit margin: 4.7% (down from 10.0% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩2,000, the stock trades at a trailing P/E ratio of 15x. Average trailing P/E is 7x in the Auto Components industry in South Korea. Total loss to shareholders of 44% over the past three years. Reported Earnings • Mar 25
Full year 2024 earnings released: EPS: ₩134 (vs ₩170 loss in FY 2023) Full year 2024 results: EPS: ₩134 (up from ₩170 loss in FY 2023). Revenue: ₩80.4b (up 1.2% from FY 2023). Net income: ₩1.51b (up ₩3.42b from FY 2023). Profit margin: 1.9% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Announcement • Feb 12
TPC Co., Ltd., Annual General Meeting, Mar 27, 2025 TPC Co., Ltd., Annual General Meeting, Mar 27, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 574, iryeon-ro, jillyang-eup, gyeongsangbuk-do, gyeongsan South Korea 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 Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (₩23.9b market cap, or US$16.6m). New Risk • Dec 11
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 11% 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 (11% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₩27.7b market cap, or US$19.4m). Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to ₩2,460, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 6x in the Auto Components industry in South Korea. Total loss to shareholders of 26% over the past three years. Reported Earnings • Mar 21
Full year 2023 earnings released: ₩170 loss per share (vs ₩132 loss in FY 2022) Full year 2023 results: ₩170 loss per share (further deteriorated from ₩132 loss in FY 2022). Revenue: ₩79.5b (down 2.3% from FY 2022). Net loss: ₩1.92b (loss widened 29% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. New Risk • Nov 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South Korean stocks, typically moving 13% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. 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). Earnings have declined by 31% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩32.0b market cap, or US$24.8m). Reported Earnings • Nov 19
Third quarter 2023 earnings released: ₩174 loss per share (vs ₩30.00 loss in 3Q 2022) Third quarter 2023 results: ₩174 loss per share (further deteriorated from ₩30.00 loss in 3Q 2022). Revenue: ₩18.3b (down 5.1% from 3Q 2022). Net loss: ₩1.96b (loss widened 421% from 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 26
Full year 2022 earnings released: ₩132 loss per share (vs ₩153 loss in FY 2021) Full year 2022 results: ₩132 loss per share (improved from ₩153 loss in FY 2021). Revenue: ₩81.3b (up 1.2% from FY 2021). Net loss: ₩1.48b (loss narrowed 14% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Upcoming Dividend • Dec 21
Upcoming dividend of ₩30.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 31 March 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.1%. 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 • Jan 27
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩3,330, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 13x in the Auto Components industry in South Korea. Total returns to shareholders of 19% over the past three years. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improved over the past week After last week's 22% share price gain to ₩4,025, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 14x in the Auto Components industry in South Korea. Total returns to shareholders of 49% over the past three years. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩3,125, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 14x in the Auto Components industry in South Korea. Total returns to shareholders of 10% over the past three years. Reported Earnings • Nov 18
Third quarter 2021 earnings released: ₩8.00 loss per share (vs ₩176 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings and control over costs, although revenues were flat. Third quarter 2021 results: Revenue: ₩19.0b (flat on 3Q 2020). Net loss: ₩101.9m (down 106% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₩3,930, the stock trades at a trailing P/E ratio of 11.6x. Average trailing P/E is 15x in the Auto Components industry in South Korea. Total returns to shareholders of 37% over the past three years. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improved over the past week After last week's 22% share price gain to ₩5,530, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 16x in the Auto Components industry in South Korea. Total returns to shareholders of 64% over the past three years. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improved over the past week After last week's 16% share price gain to ₩5,970, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 19x in the Auto Components industry in South Korea. Total returns to shareholders of 92% over the past three years. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improved over the past week After last week's 15% share price gain to ₩5,350, the stock trades at a trailing P/E ratio of 24.7x. Average trailing P/E is 20x in the Auto Components industry in South Korea. Total returns to shareholders of 69% over the past three years. Announcement • Feb 09
TPC Co., Ltd., Annual General Meeting, Mar 24, 2021 TPC Co., Ltd., Annual General Meeting, Mar 24, 2021, at 09:00 Korea Standard Time. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improved over the past week After last week's 39% share price gain to ₩4,200, the stock is trading at a trailing P/E ratio of 78.5x, up from the previous P/E ratio of 56.6x. This compares to an average P/E of 23x in the Auto Components industry in South Korea. Total returns to shareholders over the past three years are 49%. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improved over the past week After last week's 38% share price gain to ₩4,030, the stock is trading at a trailing P/E ratio of 75.3x, up from the previous P/E ratio of 54.4x. This compares to an average P/E of 21x in the Auto Components industry in South Korea. Total returns to shareholders over the past three years are 47%. Is New 90 Day High Low • Jan 04
New 90-day high: ₩3,015 The company is up 10.0% from its price of ₩2,730 on 06 October 2020. The South Korean market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 15% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩20.00 Per Share Will be paid on the 31st of March to those who are registered shareholders by the 29th of December. The trailing yield of 0.7% is below the top quartile of South Korean dividend payers (2.6%), and is lower than industry peers (1.7%). Is New 90 Day High Low • Dec 14
New 90-day high: ₩2,900 The company is up 8.0% from its price of ₩2,690 on 15 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 11% over the same period. Reported Earnings • Nov 18
Third quarter 2020 earnings released: EPS ₩176 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₩19.1b (up 3.0% from 3Q 2019). Net income: ₩1.79b (up ₩2.20b from 3Q 2019). Profit margin: 9.4% (up from net loss in 3Q 2019). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 90% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 07
New 90-day high: ₩2,855 The company is up 28% from its price of ₩2,230 on 09 July 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 21% over the same period.