Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩4,310, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 6x in the Auto Components industry in South Korea. Total returns to shareholders of 31% over the past three years. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩5,290, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 7x in the Auto Components industry in South Korea. Total returns to shareholders of 42% over the past three years. New Risk • Apr 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 33% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (15% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.2% net profit margin). Market cap is less than US$100m (₩133.5b market cap, or US$88.4m). 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 15% 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 Risk Share price has been highly volatile over the past 3 months (15% average weekly change). 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 (₩127.3b market cap, or US$87.1m). Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 29% After last week's 29% share price decline to ₩4,180, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 8x in the Auto Components industry in South Korea. Total returns to shareholders of 51% over the past three years. Announcement • Mar 04
Korea Movenex Co., Ltd., Annual General Meeting, Mar 31, 2026 Korea Movenex Co., Ltd., Annual General Meeting, Mar 31, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 875, bangeojinsunhwando-ro, dong-gu, ulsan South Korea Declared Dividend • Mar 02
Dividend of ₩100.00 announced Dividend of ₩100.00 is the same as last year. Ex-date: 2nd April 2026 Payment date: 1st January 1970 Dividend yield will be 1.7%, which is lower than the industry average of 1.9%. Sustainability & Growth Dividend is well covered by both earnings (10% earnings payout ratio) and cash flows (6% cash payout ratio). The dividend has increased by an average of 12% per year over the past 6 years. However, payments have been volatile during that time. Earnings per share has grown by 32% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 28
Korea Movenex Co., Ltd. announces Annual dividend Korea Movenex Co., Ltd. announced Annual dividend of KRW 100.0000 per share, ex-date on April 02, 2026 and record date on April 03, 2026. New Risk • Jan 19
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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (11% average weekly change). Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩5,330, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 7x in the Auto Components industry in South Korea. Total returns to shareholders of 109% over the past three years. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩4,715, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 6x in the Auto Components industry in South Korea. Total returns to shareholders of 78% over the past three years. Reported Earnings • Nov 19
Third quarter 2025 earnings released: EPS: ₩111 (vs ₩221 in 3Q 2024) Third quarter 2025 results: EPS: ₩111 (down from ₩221 in 3Q 2024). Revenue: ₩412.0b (up 6.2% from 3Q 2024). Net income: ₩3.37b (down 50% from 3Q 2024). Profit margin: 0.8% (down from 1.7% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. New Risk • Aug 20
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: 2.0% Last year net profit margin: 2.9% 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 Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.0% net profit margin). Market cap is less than US$100m (₩124.8b market cap, or US$89.3m). Reported Earnings • Mar 22
Full year 2024 earnings released: EPS: ₩1,469 (vs ₩1,549 in FY 2023) Full year 2024 results: EPS: ₩1,469 (down from ₩1,549 in FY 2023). Revenue: ₩1.57t (up 3.7% from FY 2023). Net income: ₩44.7b (down 5.2% from FY 2023). Profit margin: 2.9% (down from 3.1% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Declared Dividend • Feb 27
Dividend of ₩100.00 announced Dividend of ₩100.00 is the same as last year. Ex-date: 28th March 2025 Payment date: 1st January 1970 Dividend yield will be 2.0%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (8% 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 15% per year over the past 5 years. However, payments have been volatile during that time. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to ₩5,220, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 7x in the Auto Components industry in South Korea. Total returns to shareholders of 110% over the past three years. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ₩4,860, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 7x in the Auto Components industry in South Korea. Total returns to shareholders of 102% over the past three years. New Risk • Jan 24
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: Major Risk High level of non-cash earnings (27% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (11% average weekly change). Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩3,710, the stock trades at a trailing P/E ratio of 3x. Average trailing P/E is 7x in the Auto Components industry in South Korea. Total returns to shareholders of 45% over the past three years. New Risk • Aug 20
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₩124.4b market cap, or US$93.4m). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₩3,415, the stock trades at a trailing P/E ratio of 2.1x. Average trailing P/E is 7x in the Auto Components industry in South Korea. Total returns to shareholders of 11% over the past three years. New Risk • Jul 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩138.9b (US$100.0m) 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 Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₩138.9b market cap, or US$100.0m). Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩5,460, the stock trades at a trailing P/E ratio of 3.3x. Average trailing P/E is 8x in the Auto Components industry in South Korea. Total returns to shareholders of 58% over the past three years. New Risk • Jun 14
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩137.0b (US$99.1m) 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 Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₩137.0b market cap, or US$99.1m). Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ₩9,000, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 7x in the Auto Components industry in South Korea. Total returns to shareholders of 268% over the past three years. New Risk • Nov 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risk Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to ₩6,550, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 7x in the Auto Components industry in South Korea. Total returns to shareholders of 238% over the past three years. Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩8,920, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 7x in the Auto Components industry in South Korea. Total returns to shareholders of 371% over the past three years. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₩8,160, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 7x in the Auto Components industry in South Korea. Total returns to shareholders of 315% over the past three years. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩5,550, the stock trades at a trailing P/E ratio of 3.4x. Average trailing P/E is 7x in the Auto Components industry in South Korea. Total returns to shareholders of 170% over the past three years. Buying Opportunity • Sep 01
Now 23% undervalued Over the last 90 days, the stock is up 30%. The fair value is estimated to be ₩6,087, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 53%. New Risk • Aug 01
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 12% 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 Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩4,550, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 9x in the Auto Components industry in South Korea. Total returns to shareholders of 107% over the past three years. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩4,185, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 9x in the Auto Components industry in South Korea. Total returns to shareholders of 92% over the past three years. Announcement • Jun 18
Korea Movenex Co., Ltd. (KOSE:A010100) signed letter of intent to acquire 29% stake in SeohanWarner Turbo Systems, Ltd. from Borgwarner Turbo Systems, Inc for KRW 20 billion. Korea Movenex Co., Ltd. (KOSE:A010100) signed letter of intent to acquire 29% stake in BorgWarner Mobility Korea LLC from Borgwarner Turbo Systems, Inc. for KRW 20 billion on June 16, 2023. As of December 31, 2023, BorgWarner Mobility Korea reported revenue of KRW 353 billion, total assets of KRW 123 billion and net income of KRW 21 billion. The deal is expected to close on June 30, 2023. Valuation Update With 7 Day Price Move • May 03
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₩3,860, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 11x in the Auto Components industry in South Korea. Total returns to shareholders of 84% over the past three years. Upcoming Dividend • Dec 21
Upcoming dividend of ₩90.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 12 April 2023. Payout ratio is a comfortable 7.2% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (2.3%). Reported Earnings • Nov 20
Third quarter 2022 earnings released: EPS: ₩639 (vs ₩70.00 in 3Q 2021) Third quarter 2022 results: EPS: ₩639 (up from ₩70.00 in 3Q 2021). Revenue: ₩357.0b (up 54% from 3Q 2021). Net income: ₩19.5b (up ₩17.4b from 3Q 2021). Profit margin: 5.5% (up from 0.9% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. 1 independent director (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩2,160, the stock trades at a trailing P/E ratio of 3.2x. Average trailing P/E is 10x in the Auto Components industry in South Korea. Total returns to shareholders of 6.4% over the past three years. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. 1 independent director (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Dec 22
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 13 April 2022. Payout ratio is a comfortable 7.9% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of South Korean dividend payers (2.4%). In line with average of industry peers (1.8%). Reported Earnings • Nov 19
Third quarter 2021 earnings released: EPS ₩70.00 (vs ₩181 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₩231.3b (down 5.3% from 3Q 2020). Net income: ₩2.12b (down 61% from 3Q 2020). Profit margin: 0.9% (down from 2.3% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • Feb 27
Korea Flange Co., Ltd, Annual General Meeting, Mar 26, 2021 Korea Flange Co., Ltd, Annual General Meeting, Mar 26, 2021, at 10:00 Korea Standard Time. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩3,010, the stock is trading at a trailing P/E ratio of 12.2x, down from the previous P/E ratio of 14.7x. This compares to an average P/E of 25x in the Auto Components industry in South Korea. Total returns to shareholders over the past three years are 55%. Is New 90 Day High Low • Dec 29
New 90-day high: ₩3,545 The company is up 79% from its price of ₩1,985 on 29 September 2020. The South Korean market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 16% over the same period. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 32% share price gain to ₩3,545, the stock is trading at a trailing P/E ratio of 14.4x, up from the previous P/E ratio of 10.9x. This compares to an average P/E of 20x in the Auto Components industry in South Korea. Total returns to shareholders over the past three years are 88%. Is New 90 Day High Low • Dec 08
New 90-day high: ₩2,560 The company is up 15% from its price of ₩2,230 on 09 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 14% over the same period. Valuation Update With 7 Day Price Move • Dec 08
Market bids up stock over the past week After last week's 17% share price gain to ₩2,560, the stock is trading at a trailing P/E ratio of 10.4x, up from the previous P/E ratio of 8.9x. This compares to an average P/E of 20x in the Auto Components industry in South Korea. Total returns to shareholders over the past three years are 31%. Reported Earnings • Nov 22
Third quarter 2020 earnings released: EPS ₩181 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₩244.2b (up 1.9% from 3Q 2019). Net income: ₩5.50b (up 7.2% from 3Q 2019). Profit margin: 2.3% (up from 2.1% 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 94% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Sep 22
New 90-day low: ₩1,970 The company is down 30% from its price of ₩2,800 on 24 June 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 28% over the same period. 
