New Risk • Jul 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 17% 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 (17% average weekly change). Minor Risk Market cap is less than US$100m (₩56.3b market cap, or US$36.1m). Announcement • May 08
Sangji Construction, Inc. has filed a Follow-on Equity Offering in the amount of KRW 18.744 billion. Sangji Construction, Inc. has filed a Follow-on Equity Offering in the amount of KRW 18.744 billion.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 2,200,000
Price\Range: KRW 8520
Transaction Features: Rights Offering Announcement • Mar 17
Sangji Construction, Inc., Annual General Meeting, Mar 27, 2026 Sangji Construction, Inc., Annual General Meeting, Mar 27, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 626, teheran-ro, gangnam-gu, seoul South Korea New Risk • Dec 03
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 Risks Less than 1 year of cash runway based on free cash flow trend (-₩17b free cash flow). Shareholders have been substantially diluted in the past year (71% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (₩51.6b market cap, or US$35.3m). New Risk • Sep 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₩21b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩21b free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Shareholders have been substantially diluted in the past year (72% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩72.9b market cap, or US$52.4m). Board Change • Sep 01
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. 9 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. New Risk • Aug 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₩21b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩21b free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Shareholders have been substantially diluted in the past year (72% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩75.4b market cap, or US$54.3m). New Risk • May 22
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 71% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (34% average weekly change). Shareholders have been substantially diluted in the past year (71% increase in shares outstanding). Announcement • May 09
Sangji Construction, Inc. has completed a Follow-on Equity Offering in the amount of KRW 2.23449 billion. Sangji Construction, Inc. has completed a Follow-on Equity Offering in the amount of KRW 2.23449 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 234,198
Price\Range: KRW 5000
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 212,700
Price\Range: KRW 5000
Transaction Features: Rights Offering Buy Or Sell Opportunity • Apr 07
Now 30% overvalued after recent price rise Over the last 90 days, the stock has risen 85% to ₩9,020. The fair value is estimated to be ₩6,935, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Meanwhile, the company became loss making. New Risk • Apr 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 9.8% 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: Minor Risks Share price has been volatile over the past 3 months (9.8% average weekly change). Market cap is less than US$100m (₩16.4b market cap, or US$11.2m). New Risk • Mar 26
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩14.6b (US$9.99m) This is considered a major 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. This is currently the only risk that has been identified for the company. Announcement • Mar 15
Sangji Construction, Inc., Annual General Meeting, Mar 31, 2025 Sangji Construction, Inc., Annual General Meeting, Mar 31, 2025, at 08:30 Tokyo Standard Time. Location: conference room, 626, teheran-ro, gangnam-gu, seoul South Korea New Risk • Sep 27
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩8.64b (US$6.55m) This is considered a major 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: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩10b free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Market cap is less than US$10m (₩8.64b market cap, or US$6.55m). Minor Risk Shareholders have been diluted in the past year (13% increase in shares outstanding). New Risk • Aug 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₩10b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩10b free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risks Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (₩28.7b market cap, or US$21.5m). New Risk • Aug 07
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: Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (₩27.1b market cap, or US$19.7m). Buy Or Sell Opportunity • Aug 07
Now 30% undervalued The stock has been flat over the last 90 days, currently trading at ₩2,265. The fair value is estimated to be ₩3,249, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 79% over the last 3 years. Meanwhile, the company has become profitable. Board Change • May 21
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. 9 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. New Risk • Apr 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩5.22b (US$3.78m) This is considered a major 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: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (37% accrual ratio). Market cap is less than US$10m (₩5.22b market cap, or US$3.78m). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (27% increase in shares outstanding). Announcement • Mar 22
Sangji Caelum, Inc. announced that it has received KRW 7.0000005 billion in funding from Hyupjin Co., Ltd., JOONGANG ADVANCED MATERIALS Co., Ltd On March 20, 2024, Sangji Caelum, Inc. closed the transaction. The company issued 14,000,001 shares at an issue price of KRW 500 per share for the gross proceeds of KRW 7,000,000,500. The transaction incldued participation from returning investor JOONGANG ADVANCED MATERIALS Co., Ltd for 8,000,001 shares and new investor Hyupjin Co., Ltd. for 6,000,000 shares. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩475, the stock trades at a trailing P/E ratio of 4.6x. Average trailing P/E is 7x in the Construction industry in South Korea. Total loss to shareholders of 62% over the past three years. New Risk • Aug 30
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.1x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.1x net interest cover). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (₩57.2b market cap, or US$43.2m). New Risk • Jun 10
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 13% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 43% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (₩61.1b market cap, or US$47.4m). 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. 9 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. 9 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 • Jan 30
Sangji Caelum, Inc. announced that it expects to receive KRW 10 billion in funding from Biforest Co., Ltd. Sangji Caelum, Inc. announced a private placement of 19th series non-guaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on January 28, 2022. The transaction will include participation from new investor Biforest Co., Ltd. The bond carry coupon rate of 3% and have yield to maturity of 3%. The bonds will mature on March 31, 2025. The bonds will be 100% convertible into 7,849,293 common shares of the company, representing 8.63% of the total number of shares at a fixed conversion price of KRW 1,274 per share. The conversion period is from May 27, 2021 to May 26, 2023. The transaction has a subscription date of March 31, 2023 and payment date of February 28, 2025. The transaction has been approved by the board of directors of the company. The securities issued in the transaction are subject to a lock up period of one year. Announcement • Jul 15
Sangji Caelum, Inc. announced that it has received KRW 15.99999891 billion in funding from JOONGANG DNM Co.,Ltd, CGI Holdings Co., Ltd. On July 15, 2021, Sangji Caelum, Inc. closed the transaction. Announcement • Jul 07
Sangji Caelum, Inc. announced that it expects to receive KRW 15.99999891 billion in funding from JOONGANG DNM Co.,Ltd Sangji Caelum, Inc. announced a private placement of 10,884,353 common shares having a par value of KRW 500 per share at an issue price of KRW 1,470 per share for gross proceeds of KRW 15,999,998,910 on July 5, 2021. The transaction will include participation from new investor, JOONGANG DNM Co.,Ltd. The payment date is on July 15, 2021 and expected date of issuance of shares is July 30, 2021 for the transaction. The transaction has been approved by the board of directors of the company. The company will issue shares using third party allocation method. The shares are subject to a hold period of one year from the date of issuance. Is New 90 Day High Low • Dec 21
New 90-day low: ₩1,190 The company is down 32% from its price of ₩1,750 on 22 September 2020. The South Korean market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 23% over the same period. Is New 90 Day High Low • Dec 04
New 90-day low: ₩1,295 The company is down 9.0% from its price of ₩1,420 on 04 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 Construction industry, which is up 7.0% over the same period. Is New 90 Day High Low • Sep 21
New 90-day high: ₩1,900 The company is up 3.0% from its price of ₩1,845 on 23 June 2020. The South Korean market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 5.0% over the same period. Announcement • Jul 21
Sangji Caelum, Inc. announced that it has received KRW 12.2 billion in funding On July 17, 2020, Sangji Caelum, Inc. (KOSDAQ:A042940) closed the transaction. The company also amended the terms of the transaction. The company now issued convertible bonds for KRW 12,200,000,000. The bonds are converted into 10,278,011 common shares of the Sangji Kyle Room Co., Ltd, representing 16.47% of the total number of shares.