New Risk • May 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 28% 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: Major Risk Earnings have declined by 27% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₩145.2b market cap, or US$96.7m). New Risk • May 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩149.2b (US$98.9m) This is considered a minor 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 Risk Earnings have declined by 31% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩149.2b market cap, or US$98.9m). Reported Earnings • Mar 20
Full year 2025 earnings released: EPS: ₩9,071 (vs ₩4,036 in FY 2024) Full year 2025 results: EPS: ₩9,071 (up from ₩4,036 in FY 2024). Revenue: ₩174.7b (down 8.7% from FY 2024). Net income: ₩24.0b (up 118% from FY 2024). Profit margin: 14% (up from 5.8% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Mar 13
Samyang Tongsang Co., Ltd, Annual General Meeting, Mar 27, 2026 Samyang Tongsang Co., Ltd, Annual General Meeting, Mar 27, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 711, eonju-ro, gangnam-gu, seoul South Korea New Risk • Mar 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩148.6b (US$99.9m) This is considered a minor 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 Risk Earnings have declined by 34% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₩148.6b market cap, or US$99.9m). Announcement • Mar 07
Samyang Tongsang Co., Ltd announces Annual dividend Samyang Tongsang Co. Ltd. announced Annual dividend of KRW 2300.0000 per share, ex-date on March 20, 2026 and record date on March 23, 2026. Buy Or Sell Opportunity • Jan 30
Now 20% undervalued Over the last 90 days, the stock has risen 10% to ₩56,900. The fair value is estimated to be ₩71,308, 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 declined by 13%. Buy Or Sell Opportunity • Dec 23
Now 21% undervalued Over the last 90 days, the stock has risen 2.2% to ₩56,400. The fair value is estimated to be ₩71,080, 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 declined by 13%. New Risk • Oct 11
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩142.8b (US$100.0m) This is considered a minor 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 Risk Earnings have declined by 33% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₩142.8b market cap, or US$100.0m). Reported Earnings • Mar 22
Full year 2024 earnings released: EPS: ₩4,036 (vs ₩7,753 in FY 2023) Full year 2024 results: EPS: ₩4,036 (down from ₩7,753 in FY 2023). Revenue: ₩191.3b (up 6.7% from FY 2023). Net income: ₩11.0b (down 49% from FY 2023). Profit margin: 5.8% (down from 12% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Mar 18
Samyang Tongsang Co., Ltd, Annual General Meeting, Mar 31, 2025 Samyang Tongsang Co., Ltd, Annual General Meeting, Mar 31, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 711, eonju-ro, gangnam-gu, seoul South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩1,500 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 03 April 2025. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of South Korean dividend payers (3.9%). In line with average of industry peers (3.0%). Announcement • Oct 28
Samyang Tongsang Co., Ltd (KOSE:A002170) announces an Equity Buyback for KRW 3,500 million worth of its shares. Samyang Tongsang Co., Ltd (KOSE:A002170) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,500 million worth of its shares, pursuant to a contract with NH Investment & Securities Co.,Ltd. The purpose of the share repurchase is to enhance shareholder value through stock price stabilization. The program is valid till April 27, 2025. As of October 27, 2024, the company had 290,000 shares within scope available for dividend and had no shares in treasury through other repurchase. New Risk • May 27
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 49% 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: Major Risk Earnings have declined by 17% 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. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.6% net profit margin). New Risk • Apr 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩135.0b (US$99.8m) This is considered a minor 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 Risk Earnings have declined by 11% 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. Market cap is less than US$100m (₩135.0b market cap, or US$99.8m). Reported Earnings • Mar 15
Full year 2023 earnings released: EPS: ₩7,753 (vs ₩5,339 in FY 2022) Full year 2023 results: EPS: ₩7,753 (up from ₩5,339 in FY 2022). Revenue: ₩179.3b (flat on FY 2022). Net income: ₩21.6b (up 43% from FY 2022). Profit margin: 12% (up from 8.4% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩1,500 per share at 3.2% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 08 April 2024. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (2.7%). New Risk • Oct 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩134.6b (US$100.0m) This is considered a minor 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 Risk Earnings have declined by 4.0% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (465% cash payout ratio). Large one-off items impacting financial results. Market cap is less than US$100m (₩134.6b market cap, or US$100.0m). Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: ₩5,339 (vs ₩11,630 in FY 2021) Full year 2022 results: EPS: ₩5,339 (down from ₩11,630 in FY 2021). Revenue: ₩178.8b (down 7.8% from FY 2021). Net income: ₩15.1b (down 54% from FY 2021). Profit margin: 8.4% (down from 17% in FY 2021). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Upcoming Dividend • Dec 21
Upcoming dividend of ₩1,250 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 10 April 2023. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 2.4%. Lower than 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. 1 independent director (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. 1 independent director (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 ₩1,250 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 31 March 2022. Payout ratio is a comfortable 6.9% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (1.8%). Is New 90 Day High Low • Mar 16
New 90-day high: ₩67,600 The company is up 9.0% from a price of ₩61,900 on 16 December 2020. Performed similarly to the South Korean market which is up 9.0% over the last 90 days. Lagged the Luxury industry, which is up 20% over the same period. Reported Earnings • Mar 13
Full year 2020 earnings released: EPS ₩17,515 (vs ₩15,112 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₩198.4b (up 3.3% from FY 2019). Net income: ₩49.9b (up 13% from FY 2019). Profit margin: 25% (up from 23% in FY 2019). 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 14% per year, which means it is significantly lagging earnings growth. Announcement • Mar 04
Samyang Tongsang Co., Ltd, Annual General Meeting, Mar 19, 2021 Samyang Tongsang Co., Ltd, Annual General Meeting, Mar 19, 2021, at 10:00 Korea Standard Time. Is New 90 Day High Low • Jan 12
New 90-day high: ₩66,300 The company is up 5.0% from its price of ₩63,400 on 14 October 2020. The South Korean market is up 28% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Luxury industry, which is also up 5.0% over the same period. Is New 90 Day High Low • Nov 10
New 90-day high: ₩64,900 The company is up 6.0% from its price of ₩61,000 on 12 August 2020. The South Korean market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Luxury industry, which is up 9.0% over the same period. Is New 90 Day High Low • Oct 08
New 90-day high: ₩64,000 The company is up 21% from its price of ₩52,800 on 10 July 2020. The South Korean market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 6.0% over the same period.