New Risk • May 16
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended March 2025. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risk Latest financial reports are more than 1 year old (reported March 2025 fiscal period end). Minor Risk Market cap is less than US$100m (₩55.2b market cap, or US$36.8m). Announcement • Mar 06
Wonpoong Corporation, Annual General Meeting, Mar 30, 2026 Wonpoong Corporation, Annual General Meeting, Mar 30, 2026, at 09:00 Tokyo Standard Time. Location: conference room, 5, jikji-daero 474beon-gil, heungdeok-gu, chungcheongbuk-do, cheongju South Korea New Risk • Dec 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). Market cap is less than US$100m (₩56.4b market cap, or US$38.4m). Upcoming Dividend • Sep 22
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 21 October 2025. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 5.2%. Within top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (2.7%). Announcement • Feb 28
Wonpoong Corporation, Annual General Meeting, Mar 28, 2025 Wonpoong Corporation, Annual General Meeting, Mar 28, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 5, jikji-daero 474beon-gil, heungdeok-gu, chungcheongbuk-do, cheongju South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩220 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 14 April 2025. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 5.3%. Within top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (3.0%). 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 ₩3,855, the stock trades at a trailing P/E ratio of 6x. Average trailing P/E is 7x in the Luxury industry in South Korea. Total loss to shareholders of 16% over the past three years. Reported Earnings • Nov 20
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: ₩19.4b (down 1.9% from 3Q 2023). Net income: ₩689.3m (down 65% from 3Q 2023). Profit margin: 3.6% (down from 10.0% in 3Q 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩5,230, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 8x in the Luxury industry in South Korea. Total loss to shareholders of 4.2% over the past three years. Reported Earnings • Mar 26
Full year 2023 earnings released: EPS: ₩500 (vs ₩736 in FY 2022) Full year 2023 results: EPS: ₩500 (down from ₩736 in FY 2022). Revenue: ₩73.8b (down 18% from FY 2022). Net income: ₩5.55b (down 34% from FY 2022). Profit margin: 7.5% (down from 9.4% in FY 2022). The decrease in margin was driven by lower revenue. 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 14% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩200 per share at 4.5% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 15 April 2024. Payout ratio is a comfortable 69% and this is well supported by cash flows. Trailing yield: 4.5%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (2.7%). New Risk • Nov 26
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: 11% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.7% net profit margin). Market cap is less than US$100m (₩48.1b market cap, or US$36.9m). Reported Earnings • May 18
First quarter 2023 earnings released: EPS: ₩63.95 (vs ₩205 in 1Q 2022) First quarter 2023 results: EPS: ₩63.95 (down from ₩205 in 1Q 2022). Revenue: ₩15.5b (down 35% from 1Q 2022). Net income: ₩654.3m (down 73% from 1Q 2022). Profit margin: 4.2% (down from 10% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 21
Upcoming dividend of ₩170 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 17 April 2023. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 3.3%. Within top quartile of South Korean dividend payers (3.3%). Higher 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. 7 experienced directors. No highly experienced directors. 2 independent directors (5 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. 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. 7 experienced directors. No highly experienced directors. 2 independent directors (5 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 ₩160 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 18 April 2022. Payout ratio is a comfortable 67% but the company is paying out more than the cash it is generating. Trailing yield: 3.1%. Within top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment deteriorated over the past week After last week's 27% share price decline to ₩5,700, the stock trades at a trailing P/E ratio of 24.6x. Average trailing P/E is 11x in the Luxury industry in South Korea. Total returns to shareholders of 78% over the past three years. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improved over the past week After last week's 18% share price gain to ₩6,420, the stock trades at a trailing P/E ratio of 26.1x. Average trailing P/E is 12x in the Luxury industry in South Korea. Total returns to shareholders of 84% over the past three years. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improved over the past week After last week's 28% share price gain to ₩6,570, the stock trades at a trailing P/E ratio of 20.3x. Average trailing P/E is 17x in the Luxury industry in South Korea. Total returns to shareholders of 80% over the past three years. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment improved over the past week After last week's 28% share price gain to ₩5,640, the stock is trading at a trailing P/E ratio of 13.3x, up from the previous P/E ratio of 10.3x. This compares to an average P/E of 18x in the Luxury industry in South Korea. Total returns to shareholders over the past three years are 52%. Is New 90 Day High Low • Mar 08
New 90-day high: ₩4,800 The company is up 8.0% from its price of ₩4,430 on 08 December 2020. The South Korean market is also up 8.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Luxury industry, which is up 22% over the same period. Is New 90 Day High Low • Jan 25
New 90-day high: ₩4,685 The company is up 13% from its price of ₩4,140 on 27 October 2020. The South Korean market is up 33% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 16% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩150 Per Share Will be paid on the 10th of April to those who are registered shareholders by the 29th of December. The trailing yield of 3.3% is in the top quartile of South Korean dividend payers (2.6%), and it is higher than industry peers (1.4%). Is New 90 Day High Low • Dec 18
New 90-day high: ₩4,545 The company is up 9.0% from its price of ₩4,160 on 18 September 2020. The South Korean market is up 14% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Luxury industry, which is up 8.0% over the same period. Is New 90 Day High Low • Nov 18
New 90-day high: ₩4,435 The company is up 11% from its price of ₩3,990 on 20 August 2020. The South Korean market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Luxury industry, which is up 15% over the same period.