New Risk • May 25
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: -₩36b 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 Risk Less than 1 year of cash runway based on free cash flow trend (-₩36b free cash flow). Minor Risk Market cap is less than US$100m (₩44.8b market cap, or US$29.5m). Announcement • Mar 10
SC Engineering Co., Ltd, Annual General Meeting, Mar 26, 2026 SC Engineering Co., Ltd, Annual General Meeting, Mar 26, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 376, gonghang-daero, gangseo-gu, seoul South Korea Announcement • Feb 12
Bando Holdings Co., Ltd. acquired 9.30% stake in SC Engineering Co., Ltd (KOSE:A023960) for KRW 7.1 billion. Bando Holdings Co., Ltd. acquired 9.30% stake in SC Engineering Co., Ltd (KOSE:A023960) for KRW 7.1 billion on February 11, 2026. The per share price is KRW 2000. The consideration is being paid by self-funding funds of Bando Holdings.
Bando Holdings Co., Ltd. completed the acquisition of 9.30% stake in SC Engineering Co., Ltd (KOSE:A023960) on February 11, 2026. Announcement • Feb 06
Bando Holdings Co., Ltd. completed the acquisition of 10.89% stake in SC Engineering Co., Ltd (KOSE:A023960) from EV Advanced Material Co.,Ltd (KOSDAQ:A131400). Bando Holdings Co., Ltd. agreed to acquire 10.89% stake in SC Engineering Co., Ltd (KOSE:A023960) from EV Advanced Material Co.,Ltd (KOSDAQ:A131400) for KRW 24 billion on January 19, 2026. A cash consideration of KRW 24 billion will be paid by Bando Holdings Co., Ltd. The consideration is being paid by self-funding funds of Bando Holdings.
Bando Holdings Co., Ltd. completed the acquisition of 10.89% stake in SC Engineering Co., Ltd (KOSE:A023960) from EV Advanced Material Co.,Ltd (KOSDAQ:A131400) on February 5, 2026. New Risk • Jan 19
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 12% 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 (12% average weekly change). Market cap is less than US$100m (₩64.7b market cap, or US$43.9m). Reported Earnings • Nov 20
Third quarter 2025 earnings released: ₩130 loss per share (vs ₩84.00 profit in 3Q 2024) Third quarter 2025 results: ₩130 loss per share (down from ₩84.00 profit in 3Q 2024). Revenue: ₩48.1b (down 9.0% from 3Q 2024). Net loss: ₩4.69b (down 269% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 20
Second quarter 2025 earnings released: EPS: ₩4.00 (vs ₩76.00 in 2Q 2024) Second quarter 2025 results: EPS: ₩4.00 (down from ₩76.00 in 2Q 2024). Revenue: ₩43.5b (down 17% from 2Q 2024). Net income: ₩133.0m (down 95% from 2Q 2024). Profit margin: 0.3% (down from 4.8% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. New Risk • Aug 13
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. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (₩48.7b market cap, or US$35.2m). Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩1,476, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 8x in the Construction industry in South Korea. Total loss to shareholders of 40% over the past three years. Reported Earnings • Mar 22
Full year 2024 earnings released: EPS: ₩112 (vs ₩75.00 loss in FY 2023) Full year 2024 results: EPS: ₩112 (up from ₩75.00 loss in FY 2023). Revenue: ₩179.9b (up 32% from FY 2023). Net income: ₩3.72b (up ₩6.08b from FY 2023). Profit margin: 2.1% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • Mar 11
SC Engineering Co., Ltd, Annual General Meeting, Mar 26, 2025 SC Engineering Co., Ltd, Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 396, gonghang-daero, gangseo-gu, seoul South Korea Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩1,256, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 9x in the Construction industry in South Korea. Total loss to shareholders of 60% over the past three years. Announcement • Nov 30
SC Engineering Co., Ltd announced that it expects to receive KRW 40 billion in funding from EV Advanced Material Co.,Ltd SC Engineering Co., Ltd announced a private placement to issue Series 13 Unregistered Interest Unsecured Private Placement Convertible Bonds for a gross proceeds of KRW 15,000,000,000 on November 28, 2024. The transaction includes participation from NBS Healthcare Fund. The bonds have coupon rate of 3% and yield to maturity of 5%. The bonds will mature on April 30, 2028. The bonds will be 100% converted into 9,019,843 common shares at a fixed conversion price of KRW 1,663 per share. The conversion period is from April 30, 2026 to March 30, 2028. The payment date of the transaction is April 30, 2025. The transaction has been approved by the board of directors of the company. The issuance is subject to prohibition of exercising conversion rights for one year from the date of issuance of debentures and prohibition of splitting/merging transaction unit.
On the same date the company will issue Series 12 Unregistered Interest Unsecured Private Placement Convertible Bonds for a gross proceeds of KRW 25,000,000,000 on November 28, 2024. The transaction includes participation from returning investor, EV Advanced Material Co.,Ltd. The bonds have coupon rate of 3% and yield to maturity of 5%. The bonds will mature on April 30, 2028. The bonds will be 100% converted into 15,033,072 common shares at a fixed conversion price of KRW 1,663 per share. The conversion period is from April 30, 2026 to March 30, 2028. The payment date of the transaction is April 30, 2025. The transaction has been approved by the board of directors of the company. The issuance is subject to prohibition of exercising conversion rights for one year from the date of issuance of debentures and prohibition of splitting/merging transaction unit. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to ₩1,564, the stock trades at a trailing P/E ratio of 27.7x. Average trailing P/E is 7x in the Construction industry in South Korea. Total loss to shareholders of 52% over the past three years. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: ₩84.00 (vs ₩37.00 loss in 3Q 2023) Third quarter 2024 results: EPS: ₩84.00 (up from ₩37.00 loss in 3Q 2023). Revenue: ₩52.8b (up 53% from 3Q 2023). Net income: ₩2.78b (up ₩3.94b from 3Q 2023). Profit margin: 5.3% (up from net loss in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. New Risk • Oct 23
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.1% 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 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 (5.1% increase in shares outstanding). Market cap is less than US$100m (₩61.3b market cap, or US$44.4m). New Risk • Sep 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 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: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (4.6% increase in shares outstanding). Market cap is less than US$100m (₩71.7b market cap, or US$54.5m). Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: ₩76.00 (vs ₩24.00 in 2Q 2023) Second quarter 2024 results: EPS: ₩76.00 (up from ₩24.00 in 2Q 2023). Revenue: ₩52.2b (up 55% from 2Q 2023). Net income: ₩2.50b (up 240% from 2Q 2023). Profit margin: 4.8% (up from 2.2% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. New Risk • Mar 26
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: -₩8.5b 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 Risk Less than 1 year of cash runway based on free cash flow trend (-₩8.5b free cash flow). Minor Risks Shareholders have been diluted in the past year (5.2% increase in shares outstanding). Market cap is less than US$100m (₩54.3b market cap, or US$40.6m). Reported Earnings • Mar 26
Full year 2023 earnings released: ₩75.00 loss per share (vs ₩172 profit in FY 2022) Full year 2023 results: ₩75.00 loss per share (down from ₩172 profit in FY 2022). Revenue: ₩136.0b (flat on FY 2022). Net loss: ₩2.36b (down 144% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to ₩1,863, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 7x in the Construction industry in South Korea. Total returns to shareholders of 35% over the past three years. New Risk • Oct 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.2% 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 (14% average weekly change). High level of non-cash earnings (30% accrual ratio). Minor Risks Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Market cap is less than US$100m (₩63.7b market cap, or US$47.1m). Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₩2,455, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 8x in the Construction industry in South Korea. Total returns to shareholders of 88% over the past three years. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩2,270, the stock trades at a trailing P/E ratio of 16.3x. Average trailing P/E is 10x in the Construction industry in South Korea. Total returns to shareholders of 95% over the past three years. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩2,145, the stock trades at a trailing P/E ratio of 15.4x. Average trailing P/E is 9x in the Construction industry in South Korea. Total returns to shareholders of 75% over the past three years. Reported Earnings • May 19
First quarter 2023 earnings released: ₩14.00 loss per share (vs ₩20.76 profit in 1Q 2022) First quarter 2023 results: ₩14.00 loss per share (down from ₩20.76 profit in 1Q 2022). Revenue: ₩31.9b (up 10% from 1Q 2022). Net loss: ₩434.4m (down 165% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • May 17
SC Engineering Co., Ltd announced that it expects to receive KRW 4.99999821 billion in funding from CANARIABIO M Inc. SC Engineering Co., Ltd announced a private placement of 1,892,505 common shares at an issue price of KRW 2,642 per share for gross proceeds of KRW 4,999,998,210 on May 15, 2023. The transaction will include participation from new investor, CANARIABIO M Inc. The expected date of payment is July 7, 2023. The transaction has been approved by board of directors of the company. The securities have a hold period of one year. The method of capital increase is through third party allocation. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩3,005, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 9x in the Construction industry in South Korea. Total returns to shareholders of 134% over the past three years. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩2,250, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 9x in the Construction industry in South Korea. Total returns to shareholders of 79% over the past three years. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩1,699, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 8x in the Construction industry in South Korea. Total returns to shareholders of 70% over the past three years. Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: ₩175 (vs ₩234 loss in FY 2021) Full year 2022 results: EPS: ₩175 (up from ₩234 loss in FY 2021). Revenue: ₩137.2b (up 81% from FY 2021). Net income: ₩5.46b (up ₩12.2b from FY 2021). Profit margin: 4.0% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 13% per year. Announcement • Aug 20
SC Engineering Co., Ltd announced that it has received KRW 10 billion in funding from SEWON E&C CO., Ltd. On August 19, 2021, SC Engineering Co., Ltd (KOSE:A023960) closed the transaction. Announcement • Aug 19
SC Engineering Co., Ltd announced that it expects to receive KRW 10 billion in funding from SEWON E&C CO., Ltd. SC Engineering Co., Ltd announced that it will issue series 10 non-guaranteed private convertible bonds with bearer type interest part for gross proceeds of KRW 10,000,000,000 on August 17, 2021. The transaction will include participation from existing investor SEWON E&C CO., Ltd. The bonds will be issued at par. The transaction will include participation from Korea Fixed-Income Investment Advisory. The bonds will bear interest rate of 0% per annum and will have a yield to maturity of 2%. The bonds will mature on August 19, 2024. The bonds are convertible into 1,723,840 common shares at a fixed conversion price of KRW 5,801 per share from August 19, 2022 to July 19, 2024. The date of subscription and expected date of payment is August 19, 2021. The transaction is approved by the board of directors of the company. The bonds issued are subject to a hold period of 1 year from the date of issuance. Announcement • Jun 05
SC Engineering Co., Ltd (KOSE:A023960) entered into a letter of intent to acquire Cellontech Co., Ltd. from SEWONCELLONTECH Co., Ltd. (KOSE:A091090). SC Engineering Co., Ltd (KOSE:A023960) entered into a letter of intent to acquire Cellontech Co., Ltd. from SEWONCELLONTECH Co., Ltd. (KOSE:A091090) on June 4, 2021. The transaction was resolved by the board of director of SEWONCELLONTECH on June 4, 2021. Announcement • May 18
SC Engineering Co., Ltd announced that it has received KRW 20.00074 billion in funding from Woo & Company Co., Ltd., Orda Korea Co., Ltd., MSA Co., Ltd., BNK Securities Co., Ltd., Investment Arm On May 17, 2021, SC Engineering Co., Ltd (KOSE:A023960) closed the transaction. The company issued bonds and received KRW 11,000,000,000 in its final tranche. The company received KRW 20,000,740,000 in the transaction. Announcement • Mar 10
SC Engineering Co., Ltd, Annual General Meeting, Mar 29, 2021 SC Engineering Co., Ltd, Annual General Meeting, Mar 29, 2021, at 09:00 Korea Standard Time. Announcement • Feb 04
SC Engineering Co., Ltd announced that it has received KRW 29.00074 billion in funding from Woo & Company Co., Ltd., Orda Korea Co., Ltd. and another investor On February 3, 2021, SC Engineering Co., Ltd (KOSE:A023960) closed the transaction. The company issued 3,766,000 shares for gross proceeds of KRW 9,000,740,000 in its second tranche. The company raised KRW 29,000,740,000 in funding from the transaction. Is New 90 Day High Low • Jan 04
New 90-day high: ₩7,150 The company is up 432% from its price of ₩1,345 on 06 October 2020. The South Korean market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 25% over the same period. Is New 90 Day High Low • Dec 09
New 90-day high: ₩5,250 The company is up 299% from its price of ₩1,315 on 10 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 Construction industry, which is up 11% over the same period. Is New 90 Day High Low • Oct 14
New 90-day high: ₩1,460 The company is up 18% from its price of ₩1,235 on 16 July 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is down 4.0% over the same period. Announcement • Jul 30
Jang Jeong-ho acquired 5.97% stake in SC Engineering Co., Ltd (KOSE:A023960) for KRW 1.5 billion on March 31, 2020. Jang Jeong-ho acquired 5.97% stake in SC Engineering Co., Ltd (KOSE:A023960) for KRW 1.5 billion on March 31, 2020. Jang Jeong has acquired 1.495 million shares from the total number issued shares of 25.016 million shares. Jang Heong has acquired the number of shares at a unit price of KRW 1,010. Post completion, Jang Jeong will hold 26.67% stake in SC Engineering.
Jang Jeong-ho completed the acquisition of 5.97% stake in SC Engineering Co., Ltd (KOSE:A023960) on March 31, 2020.