New Risk • Jul 03
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: 2.0% 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. 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. Market cap is less than US$100m (₩119.8b market cap, or US$77.5m). Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩9,640, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 27x in the Electrical industry in South Korea. Total loss to shareholders of 18% over the past three years. New Risk • Jun 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩148.7b (US$96.6m) This is considered a minor 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. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩12,500, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 35x in the Electrical industry in South Korea. Total returns to shareholders of 6.9% over the past three years. Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩14,880, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 51x in the Electrical industry in South Korea. Total returns to shareholders of 38% over the past three years. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩15,160, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 36x in the Electrical industry in South Korea. Total returns to shareholders of 30% over the past three years. Reported Earnings • Mar 20
Full year 2025 earnings released: EPS: ₩1,735 (vs ₩910 in FY 2024) Full year 2025 results: EPS: ₩1,735 (up from ₩910 in FY 2024). Revenue: ₩184.2b (up 43% from FY 2024). Net income: ₩20.6b (up 88% from FY 2024). Profit margin: 11% (up from 8.5% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 57% 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 • Mar 04
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to ₩10,280, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 38x in the Electrical industry in South Korea. Total loss to shareholders of 5.9% over the past three years. New Risk • Mar 03
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩143.9b (US$97.3m) This is considered a minor 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. New Risk • Dec 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩147.2b (US$99.6m) This is considered a minor 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: Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (₩147.2b market cap, or US$99.6m). Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩14,280, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 25x in the Electrical industry in South Korea. Total returns to shareholders of 2.9% over the past three years. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩18,170, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 27x in the Electrical industry in South Korea. Total returns to shareholders of 30% over the past three years. New Risk • Sep 23
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 7.8% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩14,930, the stock trades at a trailing P/E ratio of 10.3x. Average trailing P/E is 25x in the Electrical industry in South Korea. Total returns to shareholders of 4.6% over the past three years. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩12,670, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 22x in the Electrical industry in South Korea. Total loss to shareholders of 31% over the past three years. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩10,000, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 24x in the Electrical industry in South Korea. Total loss to shareholders of 40% over the past three years. Reported Earnings • May 20
First quarter 2025 earnings released: EPS: ₩300 (vs ₩306 in 1Q 2024) First quarter 2025 results: EPS: ₩300 (down from ₩306 in 1Q 2024). Revenue: ₩23.2b (up 7.6% from 1Q 2024). Net income: ₩3.58b (down 3.0% from 1Q 2024). Profit margin: 15% (down from 17% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 20
Full year 2024 earnings released: EPS: ₩910 (vs ₩1,646 in FY 2023) Full year 2024 results: EPS: ₩910 (down from ₩1,646 in FY 2023). Revenue: ₩128.7b (down 62% from FY 2023). Net income: ₩11.0b (down 45% from FY 2023). Profit margin: 8.5% (up from 5.9% in FY 2023). Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Announcement • Mar 12
mPLUS Corp., Annual General Meeting, Mar 25, 2025 mPLUS Corp., Annual General Meeting, Mar 25, 2025, at 10:00 Tokyo Standard Time. Location: dean hall, 27, oksansandan-ro, oksan-myeon, heungdeok-gu, chungcheongbuk-do, cheongju South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 21 April 2025. Payout ratio is a comfortable 12% but the company is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (0.6%). Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩12,120, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 31x in the Electrical industry in South Korea. Total loss to shareholders of 15% over the past three years. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩12,060, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 23x in the Electrical industry in South Korea. Total loss to shareholders of 20% over the past three years. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: ₩306 (vs ₩134 in 1Q 2023) First quarter 2024 results: EPS: ₩306 (up from ₩134 in 1Q 2023). Revenue: ₩21.6b (up 70% from 1Q 2023). Net income: ₩3.70b (up 125% from 1Q 2023). Profit margin: 17% (up from 13% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. New Risk • Mar 29
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩134.2b (US$99.9m) This is considered a minor 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. Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: ₩1,646 (vs ₩1,255 loss in FY 2022) Full year 2023 results: EPS: ₩1,646 (up from ₩1,255 loss in FY 2022). Revenue: ₩340.1b (up 192% from FY 2022). Net income: ₩20.0b (up ₩35.2b from FY 2022). Profit margin: 5.9% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩12,700, the stock trades at a trailing P/E ratio of 8.6x. Average forward P/E is 20x in the Electrical industry in South Korea. Total loss to shareholders of 15% over the past three years. New Risk • Jan 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩133.6b (US$100.0m) This is considered a minor 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. New Risk • Oct 31
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩132.9b (US$98.6m) This is considered a minor 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: Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Market cap is less than US$100m (₩132.9b market cap, or US$98.6m). New Risk • Oct 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 8.8% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₩15,310, the stock trades at a trailing P/E ratio of 38x. Average trailing P/E is 19x in the Electrical industry in South Korea. Total returns to shareholders of 12% over the past three years. Reported Earnings • Mar 24
Full year 2022 earnings released: ₩1,255 loss per share (vs ₩711 loss in FY 2021) Full year 2022 results: ₩1,255 loss per share (further deteriorated from ₩711 loss in FY 2021). Revenue: ₩116.6b (up 53% from FY 2021). Net loss: ₩15.2b (loss widened 89% from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 116 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (4 non-independent 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: Minority of independent directors. Insufficient board refreshment. Announcement • May 26
mPLUS Corp. announced that it has received KRW 40 billion in funding On May 24, 2022, mPLUS Corp. closed the transaction. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (4 non-independent 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: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Dec 22
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 18 April 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 0.6%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (0.8%). Upcoming Dividend • Dec 22
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 18 April 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 0.6%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (0.8%). Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improved over the past week After last week's 17% share price gain to ₩14,700, the stock trades at a trailing P/E ratio of 52.4x. Average trailing P/E is 20x in the Electrical industry in South Korea. Total returns to shareholders of 77% over the past three years. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩13,400, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 23x in the Electrical industry in South Korea. Total returns to shareholders of 14% over the past three years. Is New 90 Day High Low • Mar 09
New 90-day low: ₩12,800 The company is down 1.0% from its price of ₩12,950 on 09 December 2020. The South Korean market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Electrical industry, which is down 3.0% over the same period. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improved over the past week After last week's 16% share price gain to ₩17,500, the stock is trading at a trailing P/E ratio of 56.7x, up from the previous P/E ratio of 49.1x. This compares to an average P/E of 24x in the Electrical industry in South Korea. Total returns to shareholders over the past three years are 49%. Is New 90 Day High Low • Jan 19
New 90-day high: ₩17,250 The company is up 34% from its price of ₩12,900 on 21 October 2020. The South Korean market is up 26% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 20% over the same period. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improved over the past week After last week's 16% share price gain to ₩15,300, the stock is trading at a trailing P/E ratio of 49.6x, up from the previous P/E ratio of 42.6x. This compares to an average P/E of 22x in the Electrical industry in South Korea. Total returns to shareholders over the past three years are 51%. Is New 90 Day High Low • Oct 04
New 90-day high: ₩18,200 The company is up 79% from its price of ₩10,175 on 06 July 2020. The South Korean market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 44% over the same period. Is New 90 Day High Low • Sep 22
New 90-day high: ₩18,150 The company is up 85% from its price of ₩9,800 on 24 June 2020. The South Korean market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 54% over the same period. Announcement • Aug 31
mPLUS Corp. announced that it has received KRW 10 billion in funding from Shinhan Investment Corp., Investment Arm On August 25, 2020, mPLUS Corp. (KOSDAQ:A259630) closed the transaction. Announcement • Aug 25
mPLUS Corp. announced that it expects to receive KRW 10 billion in funding from Shinhan Investment Corp., Investment Arm mPLUS Corp. (KOSDAQ:A259630) announced a private placement of 2nd series non-guaranteed private convertible bonds for gross proceeds of KRW 10,000,000,000 on August 24, 2020. The transaction will include participation from Kiwoom Small Manager No. 1 New Technology Business Fund for KRW 8,000,000,000 and Shinhan Investment Corp., Investment Arm for KRW 2,000,000,000. The bonds are issued at 0% coupon rate, 0% yield to maturity and will mature on August 25, 2025. The bonds can be 100% converted into 407,099 common shares for 7.18% stake of the company at a fixed conversion price of KRW 24,564 per share. The conversion period is from August 25, 2021 to July 25, 2025. The transaction has been approved by the board of directors of the company. The payment date is August 25, 2020.