Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩12,150, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 5x in the Auto Components industry in South Korea. Total loss to shareholders of 41% over the past three years. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩11,060, 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 35% over the past three years. New Risk • Mar 27
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: 1.3% Last year net profit margin: 3.6% 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 High level of debt (50% net debt to equity). Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Announcement • Mar 12
Seoyon E-Hwa Co., Ltd., Annual General Meeting, Mar 26, 2026 Seoyon E-Hwa Co., Ltd., Annual General Meeting, Mar 26, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 712, seobukbu-ro, chungcheongnam-do, asan South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to ₩12,600, the stock trades at a trailing P/E ratio of 3.1x. Average trailing P/E is 8x in the Auto Components industry in South Korea. Total returns to shareholders of 2.2% over the past three years. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩16,040, 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 98% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩250 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 22 April 2026. Payout ratio is a comfortable 6.2% but the company is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of South Korean dividend payers (3.6%). In line with average of industry peers (2.0%). Declared Dividend • Nov 08
Dividend of ₩250 announced Dividend of ₩250 is the same as last year. Ex-date: 29th December 2025 Payment date: 22nd April 2026 Dividend yield will be 2.1%, 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 16% per year over the past 6 years and payments have been stable during that time. Earnings per share has grown by 51% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Nov 07
Seoyon E-Hwa Co., Ltd. announces Annual dividend, payable on April 22, 2026 Seoyon E-Hwa Co., Ltd. announced Annual dividend of KRW 250.0000 per share payable on April 22, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩13,370, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 7x in the Auto Components industry in South Korea. Total returns to shareholders of 104% over the past three years. New Risk • Aug 21
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: 1.8% Last year net profit margin: 4.5% 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 High level of debt (47% net debt to equity). Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.8% net profit margin). New Risk • Mar 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.2% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Earnings are forecast to decline by an average of 2.2% per year for the foreseeable future. High level of non-cash earnings (20% accrual ratio). Minor Risks High level of debt (41% net debt to equity). Paying a dividend despite having no free cash flows. Announcement • Mar 08
Seoyon E-Hwa Co., Ltd., Annual General Meeting, Mar 26, 2025 Seoyon E-Hwa Co., Ltd., Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 712, seobubuk-ro, sinchang-myeon, chungcheongnam-do, asan South Korea Price Target Changed • Feb 13
Price target decreased by 25% to ₩19,500 Down from ₩26,000, the current price target is provided by 1 analyst. New target price is 55% above last closing price of ₩12,580. Stock is down 40% over the past year. The company is forecast to post earnings per share of ₩4,779 for next year compared to ₩5,839 last year. Upcoming Dividend • Dec 20
Upcoming dividend of ₩200 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 22 April 2025. Payout ratio is a comfortable 4.0% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (2.6%). Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩11,890, the stock trades at a forward P/E ratio of 2x. Average forward P/E is 4x in the Auto Components industry in South Korea. Total returns to shareholders of 86% over the past three years. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₩12,960, the stock trades at a forward P/E ratio of 2x. Average forward P/E is 5x in the Auto Components industry in South Korea. Total returns to shareholders of 78% over the past three years. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩20,850, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 6x in the Auto Components industry in South Korea. Total returns to shareholders of 141% over the past three years. Reported Earnings • Mar 23
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: ₩5,839 (up from ₩2,060 in FY 2022). Revenue: ₩3.57t (up 26% from FY 2022). Net income: ₩157.8b (up 183% from FY 2022). Profit margin: 4.4% (up from 2.0% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.2%. Revenue is forecast to grow 8.8% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Auto Components industry in South Korea. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. New Risk • Feb 02
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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to ₩22,300, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 6x in the Auto Components industry in South Korea. Total returns to shareholders of 193% over the past three years. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩17,120, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 6x in the Auto Components industry in South Korea. Total returns to shareholders of 140% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩150 per share at 0.9% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 18 April 2024. Payout ratio is a comfortable 4.5% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (2.0%). Valuation Update With 7 Day Price Move • Nov 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩17,370, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 5x in the Auto Components industry in South Korea. Total returns to shareholders of 274% over the past three years. New Risk • Aug 17
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 0.9% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment deteriorates as stock falls 29% After last week's 29% share price decline to ₩15,400, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 6x in the Auto Components industry in South Korea. Total returns to shareholders of 285% over the past three years. Buying Opportunity • Jul 27
Now 20% undervalued Over the last 90 days, the stock is up 57%. The fair value is estimated to be ₩29,264, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 23% in 2 years. Earnings is forecast to grow by 109% in the next 2 years. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩23,700, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 7x in the Auto Components industry in South Korea. Total returns to shareholders of 612% over the past three years. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩17,200, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Auto Components industry in South Korea. Total returns to shareholders of 412% over the past three years. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩13,670, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 8x in the Auto Components industry in South Korea. Total returns to shareholders of 444% over the past three years. Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: ₩2,060 (vs ₩973 in FY 2021) Full year 2022 results: EPS: ₩2,060 (up from ₩973 in FY 2021). Revenue: ₩2.85t (up 31% from FY 2021). Net income: ₩55.7b (up 112% from FY 2021). Profit margin: 2.0% (up from 1.2% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.2% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Auto Components industry in South Korea. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 67% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩11,200, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 8x in the Auto Components industry in South Korea. Total returns to shareholders of 176% 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: 19 April 2023. Payout ratio is a comfortable 5.5% and this is well supported by cash flows. Trailing yield: 1.8%. 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 • Sep 26
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩7,880, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 10x in the Auto Components industry in South Korea. Total returns to shareholders of 26% over the past three years. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 15% share price gain to ₩8,260, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 14x in the Auto Components industry in South Korea. Total returns to shareholders of 50% over the past three years. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 20% share price gain to ₩8,260, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 12x in the Auto Components industry in South Korea. Total returns to shareholders of 41% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 20 April 2022. Payout ratio is a comfortable 5.4% and this is well supported by cash flows. Trailing yield: 1.5%. 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 ₩6,590, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 15x in the Auto Components industry in South Korea. Total returns to shareholders of 53% over the past three years. Reported Earnings • May 23
First quarter 2021 earnings released: EPS ₩32.00 (vs ₩771 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₩523.8b (up 17% from 1Q 2020). Net income: ₩874.2m (up ₩21.7b from 1Q 2020). Profit margin: 0.2% (up from net loss in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 21
Full year 2020 earnings released: ₩1,528 loss per share (vs ₩1,585 loss in FY 2019) The company reported a decent full year result with reduced losses, although revenues were flat and its control over expenses showed no improvement. Full year 2020 results: Revenue: ₩1.96t (flat on FY 2019). Net loss: ₩41.3b (loss narrowed 3.6% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 92% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Mar 12
Seoyon E-Hwa Co., Ltd., Annual General Meeting, Mar 26, 2021 Seoyon E-Hwa Co., Ltd., Annual General Meeting, Mar 26, 2021, at 09:00 Korea Standard Time. Is New 90 Day High Low • Mar 04
New 90-day high: ₩9,970 The company is up 39% from its price of ₩7,150 on 04 December 2020. The South Korean market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 22% over the same period. Is New 90 Day High Low • Jan 07
New 90-day high: ₩8,330 The company is up 94% from its price of ₩4,285 on 08 October 2020. The South Korean market is up 23% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 22% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩100.00 Per Share Will be paid on the 21st of April to those who are registered shareholders by the 29th of December. The trailing yield of 1.3% 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 08
New 90-day high: ₩7,650 The company is up 89% from its price of ₩4,050 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. Reported Earnings • Nov 22
Third quarter 2020 earnings released: EPS ₩88.00 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₩534.8b (up 14% from 3Q 2019). Net income: ₩2.38b (up ₩11.2b from 3Q 2019). Profit margin: 0.4% (up from net loss in 3Q 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 115% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 11
New 90-day high: ₩4,950 The company is up 5.0% from its price of ₩4,700 on 13 August 2020. The South Korean market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Auto Components industry, which is up 6.0% over the same period.