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: 2.6% Last year net profit margin: 5.7% 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 Earnings have declined by 8.7% per year over the past 5 years. 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 (2.6% net profit margin). Market cap is less than US$100m (₩29.1b market cap, or US$19.3m). Announcement • Mar 13
SAMJIN Co., Ltd., Annual General Meeting, Mar 27, 2026 SAMJIN Co., Ltd., Annual General Meeting, Mar 27, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 81, anyangcheonseo-ro, manan-gu, gyeonggi-do, anyang South Korea Buy Or Sell Opportunity • Jan 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to ₩3,550. The fair value is estimated to be ₩4,471, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 50%. Upcoming Dividend • Dec 22
Upcoming dividend of ₩80.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 15 April 2026. Trailing yield: 1.9%. Lower than top quartile of South Korean dividend payers (3.6%). Lower than average of industry peers (2.9%). Declared Dividend • Nov 08
Dividend of ₩80.00 announced Shareholders will receive a dividend of ₩80.00. Ex-date: 29th December 2025 Payment date: 15th April 2026 Dividend yield will be 2.2%, which is lower than the industry average of 2.5%. Sustainability & Growth The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. Announcement • Nov 07
SAMJIN Co., Ltd. announces Annual dividend, payable on April 15, 2026 SAMJIN Co., Ltd. announced Annual dividend of KRW 80.0000 per share payable on April 15, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Announcement • Mar 13
SAMJIN Co., Ltd., Annual General Meeting, Mar 28, 2025 SAMJIN Co., Ltd., Annual General Meeting, Mar 28, 2025, at 09:01 Tokyo Standard Time. Location: auditorium, 81, anyangcheonseo-ro, manan-gu, gyeonggi-do, anyang South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩62.50 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 18 April 2025. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (2.8%). Reported Earnings • Mar 22
Full year 2023 earnings released: EPS: ₩14.00 (vs ₩235 in FY 2022) Full year 2023 results: EPS: ₩14.00 (down from ₩235 in FY 2022). Revenue: ₩156.4b (flat on FY 2022). Net income: ₩116.0m (down 94% from FY 2022). Profit margin: 0.1% (down from 1.2% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩70.00 per share at 1.4% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 15 April 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.4%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (2.4%). New Risk • Nov 28
New major risk - Revenue and earnings growth Earnings have declined by 9.5% 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 Risk Earnings have declined by 9.5% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (₩44.6b market cap, or US$34.4m). New Risk • Aug 19
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 472% The company is paying a dividend despite having no free cash flows. Dividend yield: 1.4% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 472% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.08% net profit margin). Market cap is less than US$100m (₩45.8b market cap, or US$34.2m). Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩7,420, the stock trades at a trailing P/E ratio of 11x. Average trailing P/E is 13x in the Consumer Durables industry in South Korea. Negligible returns to shareholders over past three years. Upcoming Dividend • Dec 21
Upcoming dividend of ₩80.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 13 April 2023. Payout ratio is a comfortable 11% but the company is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (2.2%). 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. 5 experienced directors. No highly experienced directors. No 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: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improved over the past week After last week's 15% share price gain to ₩7,000, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 10x in the Consumer Durables industry in South Korea. Total loss to shareholders of 16% over the past three years. 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. 5 experienced directors. No highly experienced directors. No 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: Lack of independent directors. Insufficient board refreshment. Upcoming Dividend • Dec 22
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 18 April 2022. Payout ratio is a comfortable 11% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (1.1%). Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₩10,100, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 15x in the Consumer Durables industry in South Korea. Total returns to shareholders of 42% over the past three years. Announcement • Feb 10
SAMJIN Co., Ltd., Annual General Meeting, Mar 26, 2021 SAMJIN Co., Ltd., Annual General Meeting, Mar 26, 2021, at 09:00 Korea Standard Time. Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment improved over the past week After last week's 21% share price gain to ₩13,650, the stock is trading at a trailing P/E ratio of 9.9x, up from the previous P/E ratio of 8.2x. This compares to an average P/E of 15x in the Consumer Durables industry in South Korea. Total returns to shareholders over the past three years are 36%. Is New 90 Day High Low • Dec 29
New 90-day high: ₩11,050 The company is up 17% from its price of ₩9,410 on 29 September 2020. The South Korean market is up 19% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Consumer Durables industry, which is also up 17% over the same period. Is New 90 Day High Low • Oct 12
New 90-day high: ₩10,250 The company is up 12% from its price of ₩9,130 on 14 July 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Consumer Durables industry, which is up 21% over the same period.