Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩4,330, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 6x in the Auto Components industry in South Korea. Negligible returns to shareholders over past three years. Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩4,525, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 6x in the Auto Components industry in South Korea. Total loss to shareholders of 3.0% over the past three years. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩5,150, the stock trades at a trailing P/E ratio of 4.2x. Average trailing P/E is 8x in the Auto Components industry in South Korea. Total returns to shareholders of 28% over the past three years. Declared Dividend • Feb 25
Dividend increased to ₩160 Dividend of ₩160 is 14% higher than last year. Ex-date: 30th March 2026 Payment date: 1st January 1970 Dividend yield will be 2.5%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by earnings (11% earnings payout ratio) but not covered by cash flows (134% cash payout ratio). The dividend has increased by an average of 2.6% per year over the past 6 years and payments have been stable during that time. Earnings per share has grown by 20% 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 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩5,110, the stock trades at a trailing P/E ratio of 4.2x. Average trailing P/E is 7x in the Auto Components industry in South Korea. Total returns to shareholders of 34% over the past three years. Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: ₩282 (vs ₩171 in 2Q 2024) Second quarter 2025 results: EPS: ₩282 (up from ₩171 in 2Q 2024). Revenue: ₩258.6b (flat on 2Q 2024). Net income: ₩7.46b (up 62% from 2Q 2024). Profit margin: 2.9% (up from 1.8% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 22
Full year 2024 earnings released: EPS: ₩709 (vs ₩414 in FY 2023) Full year 2024 results: EPS: ₩709 (up from ₩414 in FY 2023). Revenue: ₩990.6b (down 1.7% from FY 2023). Net income: ₩18.8b (up 62% from FY 2023). Profit margin: 1.9% (up from 1.2% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Mar 12
HDC Hyundai Engineering Plastics Co., Ltd., Annual General Meeting, Mar 26, 2025 HDC Hyundai Engineering Plastics Co., Ltd., Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: auditorium, 1543, daehoman-ro, seongmun-myeon, chungcheongnam-do, dangjin South Korea Announcement • Mar 11
HDC Hyundai Engineering Plastics Co., Ltd. Announces Annual Dividend HDC Hyundai Engineering Plastics Co., Ltd. announced Annual dividend of KRW 140.0000 per share, ex-date on March 28, 2025 and record date on March 31, 2025. New Risk • Nov 24
New major risk - Revenue and earnings growth Earnings have declined by 1.8% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 143% Paying a dividend despite having no free cash flows. Earnings have declined by 1.8% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.3% net profit margin). Market cap is less than US$100m (₩97.4b market cap, or US$69.3m). New Risk • Aug 23
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: 0.6% Last year net profit margin: 2.6% 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. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.6% net profit margin). Market cap is less than US$100m (₩115.1b market cap, or US$86.0m). Reported Earnings • Mar 23
Full year 2023 earnings released: EPS: ₩414 (vs ₩469 in FY 2022) Full year 2023 results: EPS: ₩414 (down from ₩469 in FY 2022). Revenue: ₩1.01t (down 2.9% from FY 2022). Net income: ₩11.6b (down 14% from FY 2022). Profit margin: 1.2% (down from 1.3% in FY 2022). 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 9% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩120 per share at 2.5% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 22 April 2024. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (2.0%). Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: ₩398 (vs ₩356 in FY 2021) Full year 2022 results: EPS: ₩398 (up from ₩356 in FY 2021). Revenue: ₩1.05t (up 22% from FY 2021). Net income: ₩11.5b (up 12% from FY 2021). Profit margin: 1.1% (down from 1.2% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Upcoming Dividend • Dec 21
Upcoming dividend of ₩140 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 24 April 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.4%. Within top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (2.3%). Upcoming Dividend • Dec 22
Upcoming dividend of ₩140 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 21 April 2022. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 2.4%. Within top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 16% share price gain to ₩6,440, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 15x in the Auto Components industry in South Korea. Total returns to shareholders of 63% over the past three years. Reported Earnings • Mar 21
Full year 2020 earnings released: EPS ₩477 (vs ₩445 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ₩689.4b (down 17% from FY 2019). Net income: ₩13.8b (up 4.7% from FY 2019). Profit margin: 2.0% (up from 1.6% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Mar 08
New 90-day low: ₩6,000 The company is down 8.0% from its price of ₩6,500 on 08 December 2020. The South Korean market is up 8.0% 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. Announcement • Mar 05
HDC Hyundai Engineering Plastics Co., Ltd., Annual General Meeting, Mar 25, 2021 HDC Hyundai Engineering Plastics Co., Ltd., Annual General Meeting, Mar 25, 2021, at 09:00 Korea Standard Time. Is New 90 Day High Low • Jan 11
New 90-day high: ₩7,290 The company is up 20% from its price of ₩6,100 on 13 October 2020. The South Korean market is up 29% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 43% over the same period. Valuation Update With 7 Day Price Move • Oct 22
Market pulls back on stock over the past week After last week's 18% share price decline to ₩5,880, the stock is trading at a trailing P/E ratio of 12.6x, down from the previous P/E ratio of 15.4x. This compares to an average P/E of 16x in the Auto Components industry in South Korea. Total return to shareholders over the past three years is a loss of 10%. Valuation Update With 7 Day Price Move • Oct 14
Market bids up stock over the past week After last week's 20% share price gain to ₩6,930, the stock is trading at a trailing P/E ratio of 14.9x, up from the previous P/E ratio of 12.4x. This compares to an average P/E of 16x in the Auto Components industry in South Korea. Total returns to shareholders over the past three years are 13%. Is New 90 Day High Low • Oct 13
New 90-day high: ₩6,100 The company is up 49% from its price of ₩4,090 on 15 July 2020. The South Korean market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 20% over the same period. Announcement • Sep 21
HDC Hyundai Engineering Plastics Co., Ltd.(KOSE:A089470) dropped from S&P Global BMI Index HDC Hyundai Engineering Plastics Co., Ltd.(KOSE:A089470) dropped from S&P Global BMI Index 
