New Risk • May 28
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. 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). Share price has been highly volatile over the past 3 months (17% average weekly change). 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 (₩116.3b market cap, or US$77.5m). 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: Minor Risks High level of debt (112% net debt to equity). Share price has been volatile over the past 3 months (14% average weekly change). Announcement • Mar 17
APRO Co., Ltd, Annual General Meeting, Mar 30, 2026 APRO Co., Ltd, Annual General Meeting, Mar 30, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 41-14, burim-ro 170beon-gil, dongan-gu, gyeonggi-do, anyang South Korea Declared Dividend • Mar 16
Dividend reduced to ₩50.00 Dividend of ₩50.00 is 50% lower than last year. Ex-date: 31st March 2026 Payment date: 1st January 1970 Dividend yield will be 1.0%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is covered by both earnings (76% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 15% to shift the payout ratio to a potentially unsustainable range, which is less than the 23% EPS decline seen over the last 5 years. Announcement • Mar 14
APRO Co., Ltd announces Annual dividend APRO Co., Ltd announced Annual dividend of KRW 50.0000 per share, ex-date on March 31, 2026 and record date on April 01, 2026. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to ₩4,470, the stock trades at a trailing P/E ratio of 34.2x. Average trailing P/E is 38x in the Electrical industry in South Korea. Total loss to shareholders of 66% over the past three years. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩6,390, the stock trades at a trailing P/E ratio of 46.2x. Average trailing P/E is 25x in the Electrical industry in South Korea. Total loss to shareholders of 60% over the past three years. New Risk • Aug 31
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: 0.9% Last year net profit margin: 2.9% 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: Major Risks Interest payments are not well covered by earnings (0.3x net interest cover). High level of non-cash earnings (22% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (₩84.2b market cap, or US$60.7m). New Risk • Apr 24
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 Interest payments are not well covered by earnings (1.4x net interest cover). High level of non-cash earnings (81% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (11% average weekly change). Profit margins are more than 30% lower than last year (3.3% net profit margin). Market cap is less than US$100m (₩95.2b market cap, or US$66.4m). Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to ₩6,590, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 19x in the Electrical industry in South Korea. Total loss to shareholders of 58% over the past three years. Announcement • Apr 11
APRO Co., Ltd announced that it expects to receive KRW 5 billion in funding from NH Investment & Securities Co., Ltd. APRO Co., Ltd announced a private placement to issue Zero Coupon Series 1 Unsecured Private Placement Convertible Bonds due April 10, 2028 for gross proceeds of KRW 5,000,000,000 on April 9, 2025. The transaction will include participation from new investor NH Investment & Securities Co., Ltd. (Fairway KOSDAQ Venture Private Equity Investment Trust No. 1). The transaction has been approved by shareholders, restricted to a hold period, expected to close on April 10, 2025, 100% convertible into 1,015,847 shares at a fixed conversion price of KRW 4,922 from April 10, 2026 to March 10, 2028, bears zero coupon rate, zero maturity rate and matures on April 10, 2028. Announcement • Apr 10
APRO Co., Ltd announced that it has received KRW 5 billion in funding from NH Investment & Securities Co., Ltd. On April 10, 2025, APRO Co., Ltd closed the transaction. Reported Earnings • Mar 25
Full year 2024 earnings released: EPS: ₩454 (vs ₩868 in FY 2023) Full year 2024 results: EPS: ₩454 (down from ₩868 in FY 2023). Revenue: ₩200.2b (down 15% from FY 2023). Net income: ₩6.54b (down 48% from FY 2023). Profit margin: 3.3% (down from 5.3% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings. Announcement • Mar 12
APRO Co., Ltd, Annual General Meeting, Mar 27, 2025 APRO Co., Ltd, Annual General Meeting, Mar 27, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 41-14, burim-ro 170beon-gil, dongan-gu, gyeonggi-do, anyang South Korea Announcement • Mar 08
APRO Co., Ltd announces Annual dividend APRO Co., Ltd announced Annual dividend of KRW 100.0000 per share, ex-date on December 27, 2024 and record date on December 31, 2024. New Risk • Dec 16
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 Market cap is less than US$100m (₩78.5b market cap, or US$54.6m). Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩4,650, the stock trades at a trailing P/E ratio of 37.3x. Average trailing P/E is 19x in the Electrical industry in South Korea. Total loss to shareholders of 70% over the past three years. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₩5,560, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 18x in the Electrical industry in South Korea. Total loss to shareholders of 63% over the past three years. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩7,400, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 22x in the Electrical industry in South Korea. Total loss to shareholders of 63% over the past three years. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: ₩223 (vs ₩515 in 1Q 2023) First quarter 2024 results: EPS: ₩223 (down from ₩515 in 1Q 2023). Revenue: ₩55.2b (down 8.2% from 1Q 2023). Net income: ₩3.21b (down 57% from 1Q 2023). Profit margin: 5.8% (down from 12% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Electrical industry in South Korea. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Feb 23
APRO Co., Ltd (KOSDAQ:A262260) announces an Equity Buyback for KRW 1,000 million worth of its shares. APRO Co., Ltd (KOSDAQ:A262260) announces a share repurchase program. Under the program, the company will repurchase shares for KRW 1,000 million under the contract with SK Securities Co., Ltd. The purpose of the program is to enhance shareholder value and to stabilize stock price. The program will be valid until August 23, 2024. As of February 22, 2023, the company had 63,976 shares in treasury under the dividend capacity and no shares in treasury under other capacities. Announcement • Dec 11
APR Corp. to Present K-Beauty Tech Based on Beauty Devices At the World's Largest IT-Home Appliance Show, CES 2024 APR Corp. is ready to present K-Beauty Tech based on beauty devices at the world's largest IT-Home Appliance Show, CES 2024. APR announced its participation in CES 2024, which will be held at the Las Vegas Convention Center in Las Vegas, Nevada, U.S., from January 9th to 12th, 2024. CES, hosted by the Consumer Technology Association (CTA) in the U.S., is the world's largest home appliance trade show, recently attracting global companies from various industries to showcase their technologies. This year's CES marks APR's first participation and the company will introduce its 'medicube AGE-R' beauty devices that create a new skincare lifestyle, under the Show's Lifestyle category. To this end, six products that have already been successful in the U.S. market, Derm EMS, Ussera Deep Shot, ATS Air Shot, Booster-H, i-Shot, and Contour Body Shot, are set to be showcased initially. Visitors to the APR booth would experience 'how to care' with these beauty devices through visual materials. APR will also unveil soon-to-be-released products that showcase its technological prowess. Particularly, the next-generation device 'Booster Pro,' launched in Korea last Oct, is expected to earn attention in the U.S. as well. Booster Pro represents the culmination of APR's accumulated know-how in beauty device technology since its brand launch in 2021. The product has gained high popularity in South Korea since its release because of the variety of skincare benefits such as more radiant skin, enhanced skin elasticity, and effective pore management in one device. APR expects to establish its global reputation as a leading beauty tech company representing South Korea through this year's CES. APR has continued to engage in skin science research and remains dedicated to securing innovative technological capabilities. This year, in particular, APR established the APR Device Center (ADC), a specialized research and development center for beauty device technology, focusing on enhancing R&D capabilities in beauty devices and internalizing core technologies. APR's beauty device technology is becoming a key driving force in the global market strategy, and as of last November, domestic (South Korea) and international beauty device sales surpassed 1.5 million units. Reported Earnings • Nov 17
Third quarter 2023 earnings released: EPS: ₩244 (vs ₩110 in 3Q 2022) Third quarter 2023 results: EPS: ₩244 (up from ₩110 in 3Q 2022). Revenue: ₩53.1b (up 79% from 3Q 2022). Net income: ₩3.52b (up 122% from 3Q 2022). Profit margin: 6.6% (up from 5.4% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electrical industry in South Korea. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Buying Opportunity • Sep 26
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be ₩18,771, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 41% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 57% in 2 years. Earnings is forecast to grow by 117% in the next 2 years. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩17,540, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 14x in the Electrical industry in South Korea. Total loss to shareholders of 12% over the past three years. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩19,450, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 15x in the Electrical industry in South Korea. Total returns to shareholders of 77% over the past year. Reported Earnings • Dec 01
Third quarter 2021 earnings: EPS in line with expectations, revenues disappoint Third quarter 2021 results: ₩479 loss per share (down from ₩259 loss in 3Q 2020). Revenue: ₩618.9m (down 88% from 3Q 2020). Net loss: ₩3.28b (loss widened 93% from 3Q 2020). Revenue missed analyst estimates by 44%. Over the next year, revenue is forecast to grow 198%, compared to a 36% growth forecast for the industry in South Korea. Is New 90 Day High Low • Jan 21
New 90-day high: ₩50,700 The company is up 43% from its price of ₩35,350 on 23 October 2020. The South Korean market is up 31% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 26% over the same period. Is New 90 Day High Low • Jan 05
New 90-day high: ₩40,800 The company is up 2.0% from its price of ₩40,150 on 07 October 2020. The South Korean market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 22% over the same period. Is New 90 Day High Low • Oct 26
New 90-day low: ₩33,650 The company is down 14% from its price of ₩39,100 on 28 July 2020. The South Korean market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 13% over the same period. Announcement • Jul 17
A-PRO Co., Ltd. has completed an IPO in the amount of KRW 29.547007 billion. A-PRO Co., Ltd. has completed an IPO in the amount of KRW 29.547007 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,367,917
Price\Range: KRW 21600