Valuation Update With 7 Day Price Move • May 28
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to ₩2,675, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 7x in the Construction industry in South Korea. Total returns to shareholders of 109% over the past three years. Board Change • May 06
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced 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: Insufficient board refreshment. Announcement • Mar 13
Seohee Construction Co., Ltd., Annual General Meeting, Mar 31, 2026 Seohee Construction Co., Ltd., Annual General Meeting, Mar 31, 2026, at 10:30 Tokyo Standard Time. Location: auditorium, 2583, nambusunhwan-ro, seocho-gu, seoul South Korea Announcement • Feb 27
Seohee Construction Co., Ltd., Annual General Meeting, Mar 26, 2025 Seohee Construction Co., Ltd., Annual General Meeting, Mar 26, 2025, at 10:30 Tokyo Standard Time. Location: auditorium, 2583, nambusunhwan-ro, seocho-gu, seoul South Korea Announcement • Nov 28
Seohee Construction Co., Ltd. (KOSDAQ:A035890) announces an Equity Buyback for KRW 10,000 million worth of its shares. Seohee Construction Co., Ltd. (KOSDAQ:A035890) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its shares pursuant to a trust contract with Samsung Securities Co., Ltd. The purpose of the share repurchase program is to stabilize the share price and to improve shareholder value. The share repurchase program is valid until May 28, 2025. As of November 27, 2024, the company had 38,216,888 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase. Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: ₩175 (vs ₩50.00 in 3Q 2023) Third quarter 2024 results: EPS: ₩175 (up from ₩50.00 in 3Q 2023). Revenue: ₩341.4b (down 6.5% from 3Q 2023). Net income: ₩33.3b (up 225% from 3Q 2023). Profit margin: 9.8% (up from 2.8% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. New Risk • Sep 17
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 Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • May 23
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% 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 (21% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Mar 26
Full year 2023 earnings released: EPS: ₩683 (vs ₩454 in FY 2022) Full year 2023 results: EPS: ₩683 (up from ₩454 in FY 2022). Revenue: ₩1.44t (flat on FY 2022). Net income: ₩141.4b (up 44% from FY 2022). Profit margin: 9.8% (up from 6.8% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 7% per year. Upcoming Dividend • Dec 20
Upcoming dividend of ₩45.00 per share at 3.3% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 15 April 2024. Payout ratio is a comfortable 8.5% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (2.9%). Announcement • Oct 05
Seohee Construction Co., Ltd. (KOSDAQ:A035890) announces an Equity Buyback for KRW 10,000 million worth of its shares. Seohee Construction Co., Ltd. (KOSDAQ:A035890) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its shares pursuant to a trust contract with Samsung Securities Co., Ltd. The purpose of the share repurchase program is to stabilize the share price and to improve shareholder value. The share repurchase program is valid until April 3, 2024. As of October 2, 2023, the company had 24,166,352 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase. Announcement • Jun 09
Seohee Construction Co., Ltd. (KOSDAQ:A035890) announces an Equity Buyback for KRW 10,000 million worth of its shares. Seohee Construction Co., Ltd. (KOSDAQ:A035890) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its shares pursuant to a trust contract with Samsung Securities Co., Ltd. The purpose of the share repurchase program is to stabilize the share price and to improve shareholder value. The share repurchase program is valid until December 7, 2023. As of June 6, 2023, the company had 17,203,889 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase. 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 ₩1,503, the stock trades at a trailing P/E ratio of 3.4x. Average trailing P/E is 8x in the Construction industry in South Korea. Total returns to shareholders of 33% over the past three years. Buying Opportunity • Apr 24
Now 20% undervalued Over the last 90 days, the stock is up 6.3%. The fair value is estimated to be ₩1,588, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has grown by 5.9%. Upcoming Dividend • Dec 21
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 17 April 2023. Payout ratio is a comfortable 11% but the company is not cash flow positive. Trailing yield: 4.3%. Within top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (3.2%). Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced 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: Insufficient board refreshment. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced 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: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improved over the past week After last week's 16% share price gain to ₩1,910, the stock trades at a trailing P/E ratio of 2.6x. Average trailing P/E is 9x in the Construction industry in South Korea. Total returns to shareholders of 74% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩40.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 18 April 2022. Payout ratio is a comfortable 5.2% and this is well supported by cash flows. Trailing yield: 2.5%. Within top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (2.1%). Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improved over the past week After last week's 17% share price gain to ₩1,890, the stock trades at a trailing P/E ratio of 3x. Average trailing P/E is 11x in the Construction industry in South Korea. Total returns to shareholders of 87% over the past three years. Reported Earnings • Mar 18
Full year 2020 earnings released: EPS ₩632 (vs ₩331 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₩1.28t (up 2.8% from FY 2019). Net income: ₩124.8b (up 103% from FY 2019). Profit margin: 9.8% (up from 4.9% in FY 2019). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 17% share price gain to ₩1,700, the stock is trading at a trailing P/E ratio of 2.8x, up from the previous P/E ratio of 2.4x. This compares to an average P/E of 11x in the Construction industry in South Korea. Total returns to shareholders over the past three years are 57%. Is New 90 Day High Low • Dec 28
New 90-day high: ₩1,445 The company is up 26% from its price of ₩1,145 on 29 September 2020. The South Korean market is up 20% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Construction industry, which is also up 26% over the same period. Is New 90 Day High Low • Dec 10
New 90-day high: ₩1,405 The company is up 23% from its price of ₩1,140 on 11 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 Construction industry, which is up 15% over the same period. Is New 90 Day High Low • Nov 16
New 90-day high: ₩1,290 The company is up 17% from its price of ₩1,100 on 18 August 2020. The South Korean market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is down 2.0% over the same period.