Announcement • Jun 25
Heng Sheng Holding Group Limited announced that it expects to receive KRW 16.8 billion in funding Heng Sheng Holding Group Limited announced private placement to issue 28,000,000 common shares at an issue price of KRW 600 for gross proceeds of KRW 16,800,000,000 on June 23, 2026. The transaction includes participation from Hui Mei Nga for 20,000,000 shares, Liu Huan for 5,000,000 shares, Hui Ka Shing for 3,000,000 shares. The common shares are restricted, have a lock up period of 1 year. The company will issue shares by third party allotment. The transaction is approved by board of directors of the company and is expected to close on July 27, 2026. Reported Earnings • Jun 07
First quarter 2026 earnings released: EPS: ₩70.00 (vs ₩51.00 loss in 1Q 2025) First quarter 2026 results: EPS: ₩70.00 (up from ₩51.00 loss in 1Q 2025). Revenue: ₩22.2b (up 20% from 1Q 2025). Net income: ₩1.71b (up ₩2.51b from 1Q 2025). Profit margin: 7.7% (up from net loss in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. New Risk • Jun 02
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 14% 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 (38% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (₩19.4b market cap, or US$12.8m). New Risk • Jun 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩14.9b (US$9.87m) 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 Shareholders have been substantially diluted in the past year (38% increase in shares outstanding). Market cap is less than US$10m (₩14.9b market cap, or US$9.87m). Announcement • Apr 09
Heng Sheng Holding Group Limited, Annual General Meeting, Apr 30, 2026 Heng Sheng Holding Group Limited, Annual General Meeting, Apr 30, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 22, uisadang-daero, yeongdeungpo-gu, seoul South Korea Board Change • Mar 20
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. 4 experienced directors. No highly experienced directors. 1 independent director (3 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. Announcement • Feb 27
Heng Sheng Holding Group Limited announced that it has received KRW 2.9168 billion in funding On February 25, 2026. Heng Sheng Holding Group Limited announces that it has closed the transaction. It has issued Series 4 Overseas bearer-type,unsecured, privately issued convertible bonds for gross proceeds of KRW 2,916,800,000. New Risk • Jan 10
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 60% 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 Earnings have declined by 17% per year over the past 5 years. Shareholders have been substantially diluted in the past year (60% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩46.1b market cap, or US$31.6m). Announcement • Dec 11
Heng Sheng Holding Group Limited announced that it has received KRW 12.488 billion in funding from Ganaan Co., Limited On December 10, 2025, Heng Sheng Holding Group Limited closed the transaction. Reported Earnings • Dec 05
Third quarter 2025 earnings released: EPS: ₩4.00 (vs ₩25.29 in 3Q 2024) Third quarter 2025 results: EPS: ₩4.00 (down from ₩25.29 in 3Q 2024). Revenue: ₩29.5b (down 21% from 3Q 2024). Net income: ₩758.1m (down 81% from 3Q 2024). Profit margin: 2.6% (down from 11% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • Nov 19
Heng Sheng Holding Group Limited announced that it expects to receive KRW 11 billion in funding Heng Sheng Holding Group Limited announced a private placement to issue 50,000,000 shares at a price of KRW 220 per share for aggregate gross proceeds of KRW 11,000,000,000 on November 19, 2025. The securities issued in the transaction will have a lockup period of one year. The transaction has been approved by the board of directors, is expected to close on November 27, 2025, and will include participation from Hui Hongyuan for 25,000,000 shares, Hui Hongrun for 15,000,000 shares, HOI INNEI for 5,000,000 shares and GANAAN CO., LIMITED for 5,000,000 shares. Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩204, the stock trades at a trailing P/E ratio of 28.9x. Average trailing P/E is 10x in the Leisure industry in South Korea. Total loss to shareholders of 37% over the past three years. New Risk • Sep 03
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: 1.2% Last year net profit margin: 4.2% 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 35% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (1.2% net profit margin). Shareholders have been diluted in the past year (23% increase in shares outstanding). Market cap is less than US$100m (₩43.8b market cap, or US$31.5m). Reported Earnings • Sep 03
Second quarter 2025 earnings released: EPS: ₩4.00 (vs ₩10.88 in 2Q 2024) Second quarter 2025 results: EPS: ₩4.00 (down from ₩10.88 in 2Q 2024). Revenue: ₩27.5b (down 8.9% from 2Q 2024). Net income: ₩791.2m (down 45% from 2Q 2024). Profit margin: 2.9% (down from 4.8% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩265, the stock trades at a trailing P/E ratio of 23.7x. Average trailing P/E is 22x in the Leisure industry in South Korea. Total loss to shareholders of 28% over the past three years. Reported Earnings • Jun 05
First quarter 2025 earnings released: ₩1.00 loss per share (vs ₩2.00 profit in 1Q 2024) First quarter 2025 results: ₩1.00 loss per share (down from ₩2.00 profit in 1Q 2024). Revenue: ₩18.6b (down 7.3% from 1Q 2024). Net loss: ₩802.6m (down ₩919.8m from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. New Risk • May 09
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 40% 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 Earnings have declined by 58% per year over the past 5 years. Shareholders have been substantially diluted in the past year (40% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩41.8b market cap, or US$29.9m). Announcement • Apr 29
Heng Sheng Holding Group Limited announced that it has received KRW 4 billion in funding from Hyper Corporation Inc. On April 29, 2025. Heng Sheng Holding Group Limited has closed the transaction. Announcement • Apr 17
Heng Sheng Holding Group Limited announced that it has received KRW 6 billion in funding from HK Xiangyuxi Culture Develop Limited and other investors On April 16, 2025, Heng Sheng Holding Group Limited closed the transaction. Announcement • Apr 09
Heng Sheng Holding Group Limited announced that it expects to receive KRW 6 billion in funding from HK Xiangyuxi Culture Develop Limited and other investors Heng Sheng Holding Group Limited announced a private placement to issue 24,000,000 shares at an issue price of KRW 250 per share for gross proceeds of KRW 6,000,000,000 on April 8, 2025. The transaction will include participation from new investors Hui Hongyuan 12,000,000 Shares, HK Xiangyuxi Culture Develop Limited 7,000,000 shares and ZHANG HUAN 5,000,000 shares. The transaction has been approved by shareholders and is expected to close on April 16, 2025. Buy Or Sell Opportunity • Jan 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 28% to ₩289. The fair value is estimated to be ₩365, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.1% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Dec 19
Now 21% undervalued Over the last 90 days, the stock has risen 26% to ₩289. The fair value is estimated to be ₩364, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.1% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Dec 05
Now 20% undervalued Over the last 90 days, the stock has risen 36% to ₩301. The fair value is estimated to be ₩377, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.1% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Dec 03
Third quarter 2024 earnings released: EPS: ₩24.00 (vs ₩15.00 in 3Q 2023) Third quarter 2024 results: EPS: ₩24.00 (up from ₩15.00 in 3Q 2023). Revenue: ₩39.2b (up 20% from 3Q 2023). Net income: ₩3.73b (up 203% from 3Q 2023). Profit margin: 9.5% (up from 3.7% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩335, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 9x in the Leisure industry in South Korea. Total loss to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩284, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 12x in the Leisure industry in South Korea. Total loss to shareholders of 40% over the past three years. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩320, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 12x in the Leisure industry in South Korea. Total loss to shareholders of 36% over the past three years. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to ₩351, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 12x in the Leisure industry in South Korea. Total loss to shareholders of 27% over the past three years. Valuation Update With 7 Day Price Move • Sep 25
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to ₩300, the stock trades at a trailing P/E ratio of 14.7x. Average trailing P/E is 11x in the Leisure industry in South Korea. Total loss to shareholders of 39% over the past three years. Reported Earnings • Sep 02
Second quarter 2024 earnings released: EPS: ₩11.00 (vs ₩17.00 loss in 2Q 2023) Second quarter 2024 results: EPS: ₩11.00 (up from ₩17.00 loss in 2Q 2023). Revenue: ₩35.1b (up 13% from 2Q 2023). Net income: ₩1.46b (up ₩2.82b from 2Q 2023). Profit margin: 4.1% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. New Risk • Jul 01
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 75% 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 (18% average weekly change). Earnings have declined by 67% per year over the past 5 years. Shareholders have been substantially diluted in the past year (75% increase in shares outstanding). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₩45.8b market cap, or US$33.1m). Announcement • Jun 18
Heng Sheng Holding Group Limited has completed a Follow-on Equity Offering in the amount of KRW 912.087664 million. Heng Sheng Holding Group Limited has completed a Follow-on Equity Offering in the amount of KRW 912.087664 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 2,747,252
Price\Range: KRW 332
Transaction Features: Subsequent Direct Listing New Risk • May 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 9.2% 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 64% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Shareholders have been diluted in the past year (47% increase in shares outstanding). Market cap is less than US$100m (₩33.4b market cap, or US$24.5m). Reported Earnings • Dec 02
Third quarter 2023 earnings released: EPS: ₩15.00 (vs ₩13.00 loss in 3Q 2022) Third quarter 2023 results: EPS: ₩15.00 (up from ₩13.00 loss in 3Q 2022). Revenue: ₩32.8b (down 4.0% from 3Q 2022). Net income: ₩1.23b (up ₩2.33b from 3Q 2022). Profit margin: 3.7% (up from net loss in 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 52 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 02
Second quarter 2023 earnings released: ₩17.00 loss per share (vs ₩11.00 profit in 2Q 2022) Second quarter 2023 results: ₩17.00 loss per share (down from ₩11.00 profit in 2Q 2022). Revenue: ₩31.1b (down 27% from 2Q 2022). Net loss: ₩1.37b (down 252% from profit in 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 02
First quarter 2023 earnings released: ₩13.00 loss per share (vs ₩21.00 profit in 1Q 2022) First quarter 2023 results: ₩13.00 loss per share (down from ₩21.00 profit in 1Q 2022). Revenue: ₩18.3b (down 38% from 1Q 2022). Net loss: ₩1.04b (down 162% from profit in 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Buying Opportunity • May 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 8.6%. The fair value is estimated to be ₩431, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 18% over the last 3 years. Meanwhile, the company became loss making. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩380, the stock trades at a trailing P/E ratio of 23.2x. Average trailing P/E is 7x in the Leisure industry in South Korea. Total loss to shareholders of 54% over the past three years. Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment improved over the past week After last week's 41% share price gain to ₩447, the stock trades at a trailing P/E ratio of 27.3x. Average trailing P/E is 12x in the Leisure industry in South Korea. Total loss to shareholders of 61% over the past three years. Reported Earnings • Dec 03
Third quarter 2022 earnings released: ₩13.00 loss per share (vs ₩40.00 profit in 3Q 2021) Third quarter 2022 results: ₩13.00 loss per share (down from ₩40.00 profit in 3Q 2021). Revenue: ₩34.2b (down 7.8% from 3Q 2021). Net loss: ₩1.10b (down 134% from profit in 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 02
Second quarter 2022 earnings released: EPS: ₩11.00 (vs ₩29.00 loss in 2Q 2021) Second quarter 2022 results: EPS: ₩11.00 (up from ₩29.00 loss in 2Q 2021). Revenue: ₩42.3b (up 36% from 2Q 2021). Net income: ₩899.4m (up ₩3.26b from 2Q 2021). Profit margin: 2.1% (up from net loss in 2Q 2021). The move to profitability was 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 56 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improved over the past week After last week's 26% share price gain to ₩537, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 13x in the Leisure industry in South Korea. Total loss to shareholders of 53% over the past three years. Reported Earnings • Jun 02
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: ₩21.00 (up from ₩2.00 loss in 1Q 2021). Revenue: ₩29.4b (up 42% from 1Q 2021). Net income: ₩1.68b (up ₩1.78b from 1Q 2021). Profit margin: 5.7% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) exceeded analyst estimates by 38%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Buying Opportunity • Jun 02
Now 22% undervalued Over the last 90 days, the stock is up 17%. The fair value is estimated to be ₩611, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 24% over the last 3 years. Earnings per share has declined by 82%. Reported Earnings • Dec 03
Third quarter 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2021 results: EPS: ₩40.00 (down from ₩65.00 in 3Q 2020). Revenue: ₩37.1b (down 24% from 3Q 2020). Net income: ₩3.24b (down 44% from 3Q 2020). Profit margin: 8.7% (down from 12% in 3Q 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) exceeded analyst estimates by 38%. Earnings per share (EPS) surpassed analyst estimates by 38%. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Reported Earnings • Sep 03
Second quarter 2021 earnings released: ₩29.00 loss per share (vs ₩65.00 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: ₩31.0b (down 32% from 2Q 2020). Net loss: ₩2.35b (down 146% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 25% share price gain to ₩714, the stock trades at a trailing P/E ratio of 11x. Average trailing P/E is 10x in the Leisure industry in South Korea. Total loss to shareholders of 58% over the past three years. Is New 90 Day High Low • Jan 29
New 90-day low: ₩602 The company is down 5.0% from its price of ₩633 on 30 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 Leisure industry, which is down 1.0% over the same period. Is New 90 Day High Low • Dec 28
New 90-day low: ₩616 The company is down 5.0% from its price of ₩650 on 29 September 2020. The South Korean market is up 20% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Leisure industry, which is down 11% over the same period. Reported Earnings • Dec 06
Third quarter 2020 earnings released: EPS ₩72.00 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₩48.7b (down 32% from 3Q 2019). Net income: ₩5.83b (down 53% from 3Q 2019). Profit margin: 12% (down from 17% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Nov 12
New 90-day high: ₩723 The company is up 1.0% from its price of ₩714 on 14 August 2020. The South Korean market is up 2.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Leisure industry, which is down 8.0% over the same period. Is New 90 Day High Low • Sep 22
New 90-day low: ₩633 The company is down 14% from its price of ₩735 on 24 June 2020. The South Korean market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Leisure industry, which is up 13% over the same period.