New Risk • May 04
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 14% 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 High level of non-cash earnings (30% accrual ratio). Shareholders have been substantially diluted in the past year (62% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Profit margins are more than 30% lower than last year (3.4% net profit margin). Reported Earnings • Mar 20
Full year 2025 earnings released: EPS: ₩215 (vs ₩489 in FY 2024) Full year 2025 results: EPS: ₩215 (down from ₩489 in FY 2024). Revenue: ₩244.2b (up 87% from FY 2024). Net income: ₩8.36b (down 37% from FY 2024). Profit margin: 3.4% (down from 10% in FY 2024). The decrease in margin was driven by higher expenses. Announcement • Mar 10
LS Marine Solution Co., Ltd., Annual General Meeting, Mar 24, 2026 LS Marine Solution Co., Ltd., Annual General Meeting, Mar 24, 2026, at 09:01 Tokyo Standard Time. Location: auditorium, 184, jungang-daero, dong-gu, busan South Korea Board Change • Dec 31
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 • Dec 19
LS Marine Solution Co., Ltd. announced that it has received KRW 37.415325 billion in funding from Korea Investment & Securities Co., Ltd., NH Investment & Securities Co., Ltd., KB Securities Co., Ltd. On December 17, 2025, LS Marine Solution Co., Ltd. closed the transaction. New Risk • Nov 05
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 7.4% 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 High level of non-cash earnings (21% accrual ratio). Shareholders have been substantially diluted in the past year (62% increase in shares outstanding). Minor Risks Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (7.4% average weekly change). Profit margins are more than 30% lower than last year (7.1% net profit margin). New Risk • Sep 09
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 86% 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 High level of non-cash earnings (21% accrual ratio). Shareholders have been substantially diluted in the past year (86% increase in shares outstanding). Minor Risks Less than 3 years of financial data is available. Profit margins are more than 30% lower than last year (7.1% net profit margin). Board Change • Aug 30
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 • Jun 09
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 (20% accrual ratio). Minor Risks Less than 3 years of financial data is available. 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). Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 41% After last week's 41% share price gain to ₩25,950, the stock trades at a forward P/E ratio of 58x. Average forward P/E is 8x in the Construction industry in South Korea. Total returns to shareholders of 363% over the past three years. Announcement • May 27
LS Marine Solution Co., Ltd. has filed a Follow-on Equity Offering in the amount of KRW 278.2854 billion. LS Marine Solution Co., Ltd. has filed a Follow-on Equity Offering in the amount of KRW 278.2854 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 19,570,000
Price\Range: KRW 14220
Discount Per Security: KRW 56.88
Transaction Features: Rights Offering Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩21,300, the stock trades at a forward P/E ratio of 53x. Average forward P/E is 6x in the Construction industry in South Korea. Total returns to shareholders of 277% over the past three years. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩15,640, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 5x in the Construction industry in South Korea. Total returns to shareholders of 176% over the past three years. Buy Or Sell Opportunity • Apr 01
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 1.4% to ₩14,990. The fair value is estimated to be ₩12,012, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 84% over the last year. Earnings per share has grown by 3.5%. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to grow by 51% in the next 2 years. Announcement • Mar 12
LS Marine Solution Co., Ltd., Annual General Meeting, Mar 25, 2025 LS Marine Solution Co., Ltd., Annual General Meeting, Mar 25, 2025, at 10:00 Tokyo Standard Time. Location: auditorium, 184, jungang-daero, dong-gu, busan South Korea New Risk • Nov 25
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 8.5% 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 Latest financial reports are more than 1 year old (reported September 2013 fiscal period end). Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Shareholders have been diluted in the past year (27% increase in shares outstanding). New Risk • Jun 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 11% 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 Risk Latest financial reports are more than 1 year old (reported September 2013 fiscal period end). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Shareholders have been diluted in the past year (11% increase in shares outstanding). Upcoming Dividend • Dec 20
Upcoming dividend of ₩30.00 per share at 0.3% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 29 April 2024. Trailing yield: 0.3%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (2.9%). Announcement • Aug 18
LS Cable & System Ltd. completed the acquisition of 25.58% stake in KT Submarine Co., Ltd. (KOSDAQ:A060370). LS Cable & System Ltd. agreed to acquire additional 25.58% stake in KT Submarine Co., Ltd. (KOSDAQ:A060370) for KRW 44.8 billion on April 3, 2023. Transaction is expected to close on July 3, 2023. As of June 29, 2023 the expected closing is August 16, 2023.
LS Cable & System Ltd. completed the acquisition of 25.58% stake in KT Submarine Co., Ltd. (KOSDAQ:A060370) on August 16, 2023. New Risk • Aug 04
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 8.4% 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 Latest financial reports are more than 1 year old (reported September 2013 fiscal period end). Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Upcoming Dividend • Dec 21
Upcoming dividend of ₩30.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 24 April 2023. Trailing yield: 0.6%. Lower than top quartile of South Korean dividend payers (3.3%). Lower 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. 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 • Oct 12
KT Submarine Co., Ltd. announced that it expects to receive KRW 25.15818536 billion in funding from LS Cable & System Ltd. KT Submarine Co., Ltd. announced a private placement of 4,038,232 common shares at an issue price of KRW 6,230 for an aggregate gross proceeds of KRW 25,158,185,360 on October 11, 2022. The transaction will include participation from LS Cable & System Ltd. for 4,038,232 shares. The common shares will have a lock-up period of one year. The transaction has been approved by board of directors of the company. The expected date of payment is December 12, 2022. 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. Upcoming Dividend • Dec 22
Inaugural dividend of ₩30.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 25 April 2022. The company is not currently making a profit and is not cash flow positive. The company last paid an ordinary dividend in March 2011. The average dividend yield among industry peers is 2.1%. Is New 90 Day High Low • Oct 21
New 90-day high: ₩7,010 The company is up 65% from its price of ₩4,260 on 23 July 2020. The South Korean market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is down 5.0% over the same period.