New Risk • Apr 03
New major risk - Revenue and earnings growth Earnings have declined by 5.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩38b free cash flow). Earnings have declined by 5.7% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (₩38.9b market cap, or US$25.8m). Announcement • Mar 17
DHAUTOWARE Co., LTD, Annual General Meeting, Mar 31, 2026 DHAUTOWARE Co., LTD, Annual General Meeting, Mar 31, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 190, bitgeurindong-ro, gwangsan-gu, gwangju South Korea New Risk • Jan 07
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 9.3% 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 Less than 1 year of cash runway based on free cash flow trend (-₩43b free cash flow). Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (9.3% average weekly change). Market cap is less than US$100m (₩48.3b market cap, or US$33.4m). New Risk • May 30
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: Major Risk Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (₩43.6b market cap, or US$31.6m). New Risk • Apr 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 58% This is considered a major 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 (13% average weekly change). Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩33.9b market cap, or US$23.9m). Announcement • Mar 14
DHAUTOWARE Co., LTD, Annual General Meeting, Mar 28, 2025 DHAUTOWARE Co., LTD, Annual General Meeting, Mar 28, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 82, segyosandan-ro, gyeonggi-do, pyeongtaek South Korea New Risk • Mar 06
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 13% 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 (13% average weekly change). Minor Risk Market cap is less than US$100m (₩22.3b market cap, or US$15.4m). Announcement • Feb 19
DHAUTOWARE Co., LTD has completed a Follow-on Equity Offering in the amount of KRW 14.436 billion. DHAUTOWARE Co., LTD has completed a Follow-on Equity Offering in the amount of KRW 14.436 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 13,905,105
Price\Range: KRW 802
Discount Per Security: KRW 13.634
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 4,094,895
Price\Range: KRW 802
Discount Per Security: KRW 13.634
Transaction Features: Rights Offering New Risk • Jan 20
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: Major Risk Less than 1 year of cash runway based on free cash flow trend (-₩77b free cash flow). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (₩33.7b market cap, or US$23.2m). 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 (₩26.0b market cap, or US$18.1m). New Risk • Dec 09
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: -₩77b 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 (-₩77b free cash flow). Minor Risk Market cap is less than US$100m (₩26.3b market cap, or US$18.3m). New Risk • Dec 07
New minor risk - Financial data availability Less than 3 years of financial data is available. This is considered a minor risk. If the company has been trading for less than 3 years, then it has not had the opportunity to establish a long-term track record. This makes it difficult for investors to assess the true growth potential, sustainability and resilience of the business under different economic conditions. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-₩76b). Less than 3 years of financial data is available. Market cap is less than US$100m (₩26.3b market cap, or US$18.5m). Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to ₩897, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 11x in the Consumer Durables industry in South Korea. Total loss to shareholders of 81% over the past three years. New Risk • Nov 19
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 11% 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 Risks Interest payments are not well covered by earnings (0.5x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). High level of non-cash earnings (43% accrual ratio). Minor Risk Market cap is less than US$100m (₩36.2b market cap, or US$26.0m). New Risk • Oct 31
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩7.23b (US$5.24m) This is considered a major 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: Major Risks Interest payments are not well covered by earnings (0.5x net interest cover). High level of non-cash earnings (43% accrual ratio). Market cap is less than US$10m (₩7.23b market cap, or US$5.24m). Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩244, the stock trades at a trailing P/E ratio of 17.9x. Average trailing P/E is 12x in the Consumer Durables industry in South Korea. Total loss to shareholders of 75% over the past three years. Announcement • Aug 23
DHAUTOWARE Co., LTD has filed a Follow-on Equity Offering in the amount of KRW 20.736 billion. DHAUTOWARE Co., LTD has filed a Follow-on Equity Offering in the amount of KRW 20.736 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 18,000,000
Price\Range: KRW 1152
Transaction Features: Rights Offering Board Change • May 03
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (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: Lack of independent directors. Insufficient board refreshment. New Risk • Mar 28
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.1x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.1x net interest cover). Minor Risks Shareholders have been diluted in the past year (8.0% increase in shares outstanding). Market cap is less than US$100m (₩67.7b market cap, or US$50.2m). New Risk • Sep 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 8.0% 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 Shareholders have been diluted in the past year (8.0% increase in shares outstanding). Market cap is less than US$100m (₩67.3b market cap, or US$49.9m). Announcement • Jul 29
DHAUTOWARE Co., LTD (KOSDAQ : A025440) agreed to acquire a 99.99% stake in DH Autoware North America, SA de CV for KRW 10.9 billion. DHAUTOWARE Co., LTD (KOSDAQ : A025440) agreed to acquire a 99.99% stake in DH Autoware North America, SA de CV for KRW 10.9 billion on July 27, 2023. The transaction is expected to close on December 29, 2023. Reported Earnings • May 21
First quarter 2023 earnings released: EPS: ₩6.00 (vs ₩3.30 in 1Q 2022) First quarter 2023 results: EPS: ₩6.00 (up from ₩3.30 in 1Q 2022). Revenue: ₩89.3b (flat on 1Q 2022). Net income: ₩898.2m (up 151% from 1Q 2022). Profit margin: 1.0% (up from 0.4% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Board Change • May 11
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (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: Lack of independent directors. Insufficient board refreshment. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (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: Lack of independent directors. Insufficient board refreshment. Announcement • Aug 18
Daesung Eltec Co., Ltd. announced that it has received KRW 32.39235246 billion in funding from DH Global Co., Ltd. On August 16, 2022, Daesung Eltec Co., Ltd. closed the transaction. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (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: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Mar 21
Full year 2020 earnings released: ₩3.00 loss per share (vs ₩108 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: ₩304.2b (down 19% from FY 2019). Net loss: ₩408.0m (loss narrowed 96% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 5% per year. Is New 90 Day High Low • Jan 27
New 90-day high: ₩1,440 The company is up 108% from its price of ₩692 on 29 October 2020. The South Korean market is up 32% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 53% over the same period. Is New 90 Day High Low • Jan 08
New 90-day high: ₩1,300 The company is up 67% from its price of ₩778 on 08 October 2020. The South Korean market is up 25% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 29% over the same period. Is New 90 Day High Low • Dec 22
New 90-day high: ₩980 The company is up 34% from its price of ₩730 on 23 September 2020. The South Korean market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 3.0% over the same period. Is New 90 Day High Low • Oct 08
New 90-day high: ₩778 The company is up 14% from its price of ₩683 on 10 July 2020. The South Korean market is up 11% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Consumer Durables industry, which is up 23% over the same period. Announcement • Sep 19
Wyeong Wan acquired 6.47% stake in Daesung Eltec Co., Ltd. (KOSDAQ:A025440). Wyeong Wan acquired 6.47% stake in Daesung Eltec Co., Ltd. (KOSDAQ:A025440) on January 18, 2017. Wyeong Wan acquired 5.1 million shares of Daesung Eltec Co., Ltd. (KOSDAQ:A025440).
Wyeong Wan completed acquisition of 6.47% stake in Daesung Eltec Co., Ltd. (KOSDAQ:A025440) on January 18, 2017.