Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩2,275, the stock trades at a trailing P/E ratio of 3.2x. Average trailing P/E is 10x in the Professional Services industry in South Korea. Total loss to shareholders of 55% over the past three years. 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: 1.7% Last year net profit margin: 4.0% 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 Risk Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.7% net profit margin). Market cap is less than US$100m (₩34.9b market cap, or US$23.1m). Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩2,755, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 13x in the Professional Services industry in South Korea. Total loss to shareholders of 31% over the past three years. Announcement • Dec 17
An undisclosed buyer agreed to acquire 57.33% stake in Lab-T Co., Ltd. from Dt&C Co., Ltd. (KOSDAQ:A187220) for KRW 11.1 billion. An undisclosed buyer agreed to acquire 57.33% stake in Lab-T Co., Ltd. from Dt&C Co., Ltd. (KOSDAQ:A187220) for KRW 11.1 billion on December 15, 2025. A cash consideration of KRW 11.06 billion will be paid by the buyer. As part of consideration, KRW 11.06 billion is paid towards common equity of Lab-T Co., Ltd.
The expected completion of the transaction is December 31, 2025. As of December 15, 2025, the expected closing date is January 2, 2026. Announcement • Jun 18
Dt&C Co., Ltd. announced that it has received KRW 9 billion in funding from NH Investment & Securities Co., Ltd., KB Securities Co., Ltd., Mirae Asset Securities Co., Ltd., Samsung Securities Co.,Ltd. On June 17, 2025, Dt&C Co., Ltd closed the transaction,. New Risk • May 24
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). High level of non-cash earnings (21% accrual ratio). Minor Risk Market cap is less than US$100m (₩33.5b market cap, or US$24.6m). Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩3,280, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 13x in the Professional Services industry in South Korea. Total loss to shareholders of 59% over the past three years. Reported Earnings • Mar 26
Full year 2024 earnings released: EPS: ₩390 (vs ₩1,288 loss in FY 2023) Full year 2024 results: EPS: ₩390 (up from ₩1,288 loss in FY 2023). Revenue: ₩111.9b (up 16% from FY 2023). Net income: ₩4.50b (up ₩19.3b from FY 2023). Profit margin: 4.0% (up from net loss in FY 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 35 percentage points per year, which is a significant difference in performance. Announcement • Mar 13
Dt&C Co., Ltd., Annual General Meeting, Mar 28, 2025 Dt&C Co., Ltd., Annual General Meeting, Mar 28, 2025, at 08:30 Tokyo Standard Time. Location: conference room, 42, yurim-ro 154 beon-gil, cheoin-gu, gyeonggi-do, yongin South Korea New Risk • Nov 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 8.9% 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 Earnings have declined by 11% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Market cap is less than US$100m (₩43.2b market cap, or US$31.0m). New Risk • Aug 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 8.6% 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 Earnings have declined by 9.2% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Market cap is less than US$100m (₩35.4b market cap, or US$25.9m). New Risk • Nov 20
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 15% 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (15% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (₩57.6b market cap, or US$44.6m). Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to ₩5,000, the stock trades at a trailing P/E ratio of 56.5x. Average trailing P/E is 15x in the Professional Services industry in South Korea. Total loss to shareholders of 25% over the past three years. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improves as stock rises 38% After last week's 38% share price gain to ₩5,300, the stock trades at a trailing P/E ratio of 59.9x. Average trailing P/E is 14x in the Professional Services industry in South Korea. Total loss to shareholders of 21% over the past three years. New Risk • Aug 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 74% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. 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). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (₩55.2b market cap, or US$41.7m). Announcement • Jul 12
DT&C.Co.,Ltd announced that it has received KRW 12 billion in funding On July 11, 2023, DT&C.Co.,Ltd closed the transaction. New Risk • Jun 21
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 9.5% 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 Earnings have declined by 8.3% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.5% average weekly change). Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Market cap is less than US$100m (₩64.3b market cap, or US$49.8m). Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to ₩5,580, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 14x in the Professional Services industry in South Korea. Total loss to shareholders of 6.2% over the past three years. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improved over the past week After last week's 20% share price gain to ₩4,875, the stock trades at a trailing P/E ratio of 69.3x. Average trailing P/E is 12x in the Professional Services industry in South Korea. Total loss to shareholders of 32% over the past three years. Is New 90 Day High Low • Mar 09
New 90-day low: ₩6,860 The company is down 2.0% from its price of ₩7,000 on 09 December 2020. The South Korean market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Professional Services industry, which is up 4.0% over the same period. Is New 90 Day High Low • Feb 02
New 90-day high: ₩7,890 The company is up 19% from its price of ₩6,650 on 04 November 2020. The South Korean market is up 28% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Professional Services industry, which is up 9.0% over the same period. Is New 90 Day High Low • Dec 14
New 90-day high: ₩7,560 The company is up 5.0% from its price of ₩7,200 on 15 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Professional Services industry, which is up 14% over the same period. Announcement • Sep 26
DT&C Co., Ltd. announced that it expects to receive KRW 12 billion in funding from Wooshin Venture Investment Corp. and other investors DT&C Co., Ltd. (KOSDAQ:A187220) announced that it will issue series 1 non-guaranteed private unregistered convertible bonds for gross proceeds of KRW 7,000,000,000 and series 2 non-guaranteed private unregistered convertible bonds for the gross proceeds of KRW 5,000,000,000 on September 17, 2020. The company will also issue warrants. The transaction will include participation from NH AJU KOSDAQ Scale Up Fund for KRW 5,000,000,000, Bros-DA Value New Technology Fund 1 for KRW 6,000,000,000 and Wooshin Venture Investment Corp. for KRW 1,000,000,000. The bonds will be issued at par. The bonds will bear fixed interest rate of zero coupon per annum and will have yield to maturity of 2% per annum. The series 1 and 2 bonds will mature on September 23, 2023 and September 18, 2023, respectively. The bonds will be fully convertible into 1,665,046 common shares at a fixed conversion price of KRW 7,207 per share. The series 1 bonds are convertible from September 18, 2021 to August 17, 2023 and the series 2 bonds from September 23, 2021 to August 22, 2023. The transaction has been approved from the board of directors of the company. The subscription date for bonds is September 17, 2020. The payment date for series 1 bonds is September 18, 2020 and for series 2 bonds is September 23, 2020. Announcement • Sep 25
DT&C Co., Ltd. announced that it has received KRW 12 billion in funding from Wooshin Venture Investment Corp. and other investors On September 23, 2020, DT&C Co., Ltd. (KOSDAQ:A187220) closed the transaction. The company has issued series 2 bonds for KRW 5,000,000 in its second tranche. Announcement • Sep 18
DT&C.Co.,Ltd announced that it expects to receive KRW 7 billion in funding from Wooshin Venture Investment Corp. DT&C.Co.,Ltd (KOSDAQ:A187220) announced a private placement of 1st series unregistered coupon non-guaranteed private convertible bonds with warrant for gross proceeds of KRW 7,000,000,000 on September 17, 2020. The round will include participation from Bros-DA Value New Technology Fund 1 for KRW 6,000,000,000 and Wooshin Venture Investment Corp. for KRW 1,000,000,000. The bonds will have a zero annual coupon and will have yield to maturity of 2% per annum. The bonds will be 100% convertible into common shares of the company at a fixed conversion price of KRW 7,207 per share into 971,277 common shares of the company from September 18, 2021 to August 17, 2023. The bonds will be issued at par and will mature on September 18, 2023. The transaction has been approved from the board of directors of the company. The subscription date is September 17, 2020 and payment date is September 18, 2020. 
