Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₩2,125, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 14x in the Machinery industry in South Korea. Total loss to shareholders of 22% over the past three years. New Risk • Jun 12
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. This is currently the only risk that has been identified for the company. New Risk • Jun 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩140.7b (US$90.2m) 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 (16% average weekly change). Market cap is less than US$100m (₩140.7b market cap, or US$90.2m). Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩3,835, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 22x in the Machinery industry in South Korea. Total returns to shareholders of 49% over the past three years. New Risk • Apr 27
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 13% 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 • Apr 08
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to ₩2,700, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 19x in the Machinery industry in South Korea. Total returns to shareholders of 3.2% over the past three years. Announcement • Feb 28
Soosan Cebotics Co., Ltd., Annual General Meeting, Mar 31, 2026 Soosan Cebotics Co., Ltd., Annual General Meeting, Mar 31, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 260, jeongmunsongsan-ro, yanggam-myeon, gyeonggi-do, hwaseong South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩10.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 27 April 2026. Payout ratio is a comfortable 5.1% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of South Korean dividend payers (3.6%). Lower than average of industry peers (1.0%). Declared Dividend • Nov 08
Dividend of ₩10.00 announced Dividend of ₩10.00 is the same as last year. Ex-date: 29th December 2025 Payment date: 27th April 2026 Dividend yield will be 0.6%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (6% earnings payout ratio) and cash flows (4% cash payout ratio). The dividend has not increased over the past 6 years but payments have been stable during that time. Earnings per share has grown by 99% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Nov 07
Soosan Cebotics Co., Ltd. announces Annual dividend, payable on April 27, 2026 Soosan Cebotics Co., Ltd. announced Annual dividend of KRW 10.0000 per share payable on April 27, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. New Risk • Apr 01
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: 4.7% Last year net profit margin: 7.4% 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: Minor Risks Profit margins are more than 30% lower than last year (4.7% net profit margin). Market cap is less than US$100m (₩109.6b market cap, or US$74.7m). Announcement • Feb 28
Soosan Heavy Industries Co., Ltd., Annual General Meeting, Mar 31, 2025 Soosan Heavy Industries Co., Ltd., Annual General Meeting, Mar 31, 2025, at 09:30 Tokyo Standard Time. Location: conference room, 260, jeongmunsongsan-ro, yanggam-myeon, gyeonggi-do, hwaseong South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩10.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 24 April 2025. Payout ratio is a comfortable 5.5% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (2.0%). Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩1,866, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 13x in the Machinery industry in South Korea. Total loss to shareholders of 29% over the past three years. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩1,794, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 15x in the Machinery industry in South Korea. Total loss to shareholders of 53% over the past three years. Reported Earnings • Mar 26
Full year 2023 earnings released: EPS: ₩298 (vs ₩292 in FY 2022) Full year 2023 results: EPS: ₩298 (up from ₩292 in FY 2022). Revenue: ₩226.5b (down 21% from FY 2022). Net income: ₩16.9b (up 7.1% from FY 2022). Profit margin: 7.4% (up from 5.5% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩10.00 per share at 0.5% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 22 April 2024. Payout ratio is a comfortable 5.5% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (2.3%). New Risk • Nov 25
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: 4.0% Last year net profit margin: 7.4% 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: Minor Risks Profit margins are more than 30% lower than last year (4.0% net profit margin). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (₩129.8b market cap, or US$99.6m). New Risk • Sep 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% 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. This is currently the only risk that has been identified for the company. New Risk • Aug 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩129.0b (US$96.0m) 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. Reported Earnings • May 20
First quarter 2023 earnings released: EPS: ₩117 (vs ₩33.00 in 1Q 2022) First quarter 2023 results: EPS: ₩117 (up from ₩33.00 in 1Q 2022). Revenue: ₩70.5b (up 3.8% from 1Q 2022). Net income: ₩6.32b (up 253% from 1Q 2022). Profit margin: 9.0% (up from 2.6% in 1Q 2022). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Feb 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be ₩3,719, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has grown by 80%. Buying Opportunity • Feb 03
Now 20% undervalued Over the last 90 days, the stock is up 4.3%. The fair value is estimated to be ₩3,684, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has grown by 80%. Buying Opportunity • Jan 16
Now 21% undervalued Over the last 90 days, the stock is up 15%. The fair value is estimated to be ₩3,777, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last 3 years. Earnings per share has grown by 80%. Upcoming Dividend • Dec 21
Upcoming dividend of ₩10.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 17 April 2023. Payout ratio is a comfortable 2.4% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (2.1%). 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. 8 experienced directors. No highly experienced directors. 1 independent director (6 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. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩2,400, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 16x in the Machinery industry in South Korea. Total returns to shareholders of 57% over the past three years. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩3,680, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 20x in the Machinery industry in South Korea. Total returns to shareholders of 108% over the past three years. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improved over the past week After last week's 22% share price gain to ₩4,450, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 21x in the Machinery industry in South Korea. Total returns to shareholders of 169% over the past three years. 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. 8 experienced directors. No highly experienced directors. 1 independent director (6 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. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩2,270, the stock trades at a trailing P/E ratio of 15x. Average trailing P/E is 16x in the Machinery industry in South Korea. Total returns to shareholders of 19% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩10.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 21 April 2022. Payout ratio is a comfortable 6.5% but the company is not cash flow positive. Trailing yield: 0.3%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (2.8%). Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment improved over the past week After last week's 18% share price gain to ₩2,840, the stock trades at a trailing P/E ratio of 18.8x. Average trailing P/E is 17x in the Machinery industry in South Korea. Total returns to shareholders of 78% over the past three years. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩3,290, the stock trades at a trailing P/E ratio of 59.8x. Average trailing P/E is 17x in the Machinery industry in South Korea. Total returns to shareholders of 91% over the past three years. Valuation Update With 7 Day Price Move • May 05
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩5,940, the stock trades at a trailing P/E ratio of 75.8x. Average trailing P/E is 20x in the Machinery industry in South Korea. Total returns to shareholders of 180% over the past three years. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improved over the past week After last week's 22% share price gain to ₩4,690, the stock trades at a trailing P/E ratio of 60.1x. Average trailing P/E is 20x in the Machinery industry in South Korea. Total returns to shareholders of 219% over the past three years. Announcement • Feb 27
Soosan Heavy Industries Co., Ltd., Annual General Meeting, Mar 29, 2021 Soosan Heavy Industries Co., Ltd., Annual General Meeting, Mar 29, 2021, at 10:00 Korea Standard Time. Is New 90 Day High Low • Jan 18
New 90-day high: ₩4,200 The company is up 138% from its price of ₩1,765 on 20 October 2020. The South Korean market is up 30% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 22% over the same period. Is New 90 Day High Low • Dec 07
New 90-day high: ₩3,720 The company is up 118% from its price of ₩1,705 on 08 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 Machinery industry, which is up 13% over the same period. Is New 90 Day High Low • Nov 09
New 90-day high: ₩2,450 The company is up 36% from its price of ₩1,800 on 11 August 2020. The South Korean market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is down 1.0% over the same period. Is New 90 Day High Low • Oct 19
New 90-day high: ₩1,855 The company is up 3.0% from its price of ₩1,805 on 21 July 2020. The South Korean market is up 7.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Machinery industry, which is up 1.0% over the same period. 
