New Risk • May 23
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: -₩9.1b 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 Risks Less than 1 year of cash runway based on free cash flow trend (-₩9.1b free cash flow). Earnings have declined by 20% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩38.1b market cap, or US$25.1m). Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Outside Director Young-jin Park was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 13
ONTIDE Corp., Annual General Meeting, Mar 27, 2026 ONTIDE Corp., Annual General Meeting, Mar 27, 2026, at 09:01 Tokyo Standard Time. Location: auditorium, 322, nonhyeon-ro, gangnam-gu, seoul South Korea Announcement • Mar 05
Yakjin Trading Corporation acquired 29.27% stake in ONTIDE Corp. (KOSE:A005320) from Creas F&C Co.,Ltd (KOSDAQ:A110790) for KRW 30.1 billion. Yakjin Trading Corporation signed a stock transfer agreement to acquire 29.27% stake in ONTIDE Corp. (KOSE:A005320) from Creas F&C Co.,Ltd (KOSDAQ:A110790) for KRW 30.1 billion on March 4, 2026. A cash consideration of KRW 30.1 billion valued at KRW 1340 per share and of KRW 8.56 billion valued at KRW 1025 per share will be paid by Yakjin Trading Corporation. As part of consideration, KRW 30.1 billion is paid towards common equity and KRW 8.56 billion is paid towards preferred equity of ONTIDE Corp. Creas F&C Co., Ltd. paid a down payment of KRW 30.95 billion on the contract date and the remaining balance of KRW 7.7 billion will be paid on March 27, 2026.
Yakjin Trading Corporation completed the acquisition of 29.27% stake in ONTIDE Corp. (KOSE:A005320) from Creas F&C Co.,Ltd (KOSDAQ:A110790) on March 4, 2026. Reported Earnings • Nov 20
Third quarter 2025 earnings released: ₩14.00 loss per share (vs ₩19.00 profit in 3Q 2024) Third quarter 2025 results: ₩14.00 loss per share (down from ₩19.00 profit in 3Q 2024). Revenue: ₩51.4b (down 32% from 3Q 2024). Net loss: ₩931.1m (down 173% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 46% 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. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩629, the stock trades at a trailing P/E ratio of 48.3x. Average trailing P/E is 9x in the Luxury industry in South Korea. Total loss to shareholders of 65% over the past three years. New Risk • Aug 03
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 Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₩39.4b market cap, or US$28.4m). New Risk • Jul 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 10% 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: Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₩44.0b market cap, or US$32.4m). Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to ₩663, the stock trades at a trailing P/E ratio of 50.4x. Average trailing P/E is 9x in the Luxury industry in South Korea. Total loss to shareholders of 61% over the past three years. Announcement • Mar 13
ONTIDE Corp., Annual General Meeting, Mar 28, 2025 ONTIDE Corp., Annual General Meeting, Mar 28, 2025, at 09:01 Tokyo Standard Time. Location: auditorium, 322, nonhyeon-ro, gangnam-gu, seoul South Korea New Risk • Jan 08
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 9.4% 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 31% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.4% average weekly change). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Market cap is less than US$100m (₩34.8b market cap, or US$23.9m). New Risk • Sep 17
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 Risks Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (₩32.5b market cap, or US$24.7m). Reported Earnings • Mar 26
Full year 2023 earnings released: ₩151 loss per share (vs ₩65.53 profit in FY 2022) Full year 2023 results: ₩151 loss per share (down from ₩65.53 profit in FY 2022). Revenue: ₩224.4b (down 32% from FY 2022). Net loss: ₩8.51b (down 333% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has fallen by 47% per year, which means it is performing significantly worse than earnings. New Risk • Nov 24
New major risk - Revenue and earnings growth Earnings have declined by 0.4% 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 0.4% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (3.6% increase in shares outstanding). Market cap is less than US$100m (₩41.7b market cap, or US$32.0m). New Risk • Aug 25
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 31% 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: Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (3.6% increase in shares outstanding). Market cap is less than US$100m (₩49.8b market cap, or US$37.7m). Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩853, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 6x in the Luxury industry in South Korea. Total loss to shareholders of 71% over the past three years. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩1,071, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 7x in the Luxury industry in South Korea. Total loss to shareholders of 51% over the past three years. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩1,679, the stock trades at a trailing P/E ratio of 30.4x. Average trailing P/E is 8x in the Luxury industry in South Korea. Total loss to shareholders of 22% over the past three years. Announcement • Jan 19
Kukdong Corporation announced that it expects to receive KRW 8.000003542 billion in funding Kukdong Corporation announced a private placement of 4,895,963 common shares at an issue price of KRW 1,634 per share for the gross proceeds of KRW 8,000,003,542 on January 18, 2023. The transaction has been approved by the board of directors, The transaction is expected to close on May 18, 2023. The shares are restricted to a hold period of one year. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improved over the past week After last week's 15% share price gain to ₩1,360, the stock trades at a trailing P/E ratio of 23.8x. Average trailing P/E is 6x in the Luxury industry in South Korea. Total returns to shareholders of 22% over the past three years. 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. No experienced directors. 3 highly experienced directors. 1 independent director (2 non-independent directors). Independent Outside Director Gi-Pal Sin was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Jul 12
Kukdong Corporation announced that it expects to receive KRW 10 billion in funding Kukdong Corporation announced a private placement of series 14th Bearer Type Interest Part Unguaranteed Private Placement for gross proceeds of KRW 5,000,000,000 and series 15 non-guaranteed interest part convertible bond for proceeds of KRW 5,000,000,000 on July 11, 2022. The transaction will include participation from Green Snake New Technology Association No. 3 for series 14 bonds. The bonds carry surface interest rate of 2% and interest rate to maturity of 2% per annum. The series 14 bonds will mature on September 23, 2025 and series 15 bonds will mature on October 12, 2025. The bonds are fully convertible into 2,738,225 shares of the company at a conversion price of KRW 1,826 per share. The conversion period will start from October 12, 2022 and ends on October 12, 2024 for series 15 and conversion period will start September 23, 2022 and will end on September 23, 2024for series 14 bonds. The transaction is expected to close on October 12, 2022 for series 15 and September 23, 2022 for series 14. The transaction has been approved by the board of directors of the company. Reported Earnings • May 18
First quarter 2022 earnings released: EPS: ₩23.00 (vs ₩43.00 loss in 1Q 2021) First quarter 2022 results: EPS: ₩23.00 (up from ₩43.00 loss in 1Q 2021). Revenue: ₩70.6b (up 64% from 1Q 2021). Net income: ₩1.24b (up ₩2.92b from 1Q 2021). Profit margin: 1.8% (up from net loss in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. 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. No experienced directors. 3 highly experienced directors. 1 independent director (2 non-independent directors). Independent Outside Director Gi-Pal Sin was the last independent director to join the board, commencing their role in 2013. 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 ₩50.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 21 April 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of South Korean dividend payers (2.4%). In line with average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment deteriorated over the past week After last week's 32% share price decline to ₩2,665, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 13x in the Luxury industry in South Korea. Total loss to shareholders of 2.1% over the past three years. Announcement • Jul 07
Kukdong Corporation announced that it has received KRW 12 billion in funding from Sangsangin Plus Savings Bank Co.,Ltd., Sangsangin Investment & Securities Co.,Ltd., Sangsangin Savings Bank, Investment Arm On July 5, 2021, Kukdong Corporation closed the transaction. Announcement • Jul 02
Kukdong Corporation announced that it expects to receive KRW 12 billion in funding from Sangsangin Plus Savings Bank Co.,Ltd., Sangsangin Investment & Securities Co.,Ltd., Sangsangin Savings Bank, Investment Arm Kukdong Corporation announced a private placement of round 13 non-guaranteed interest part convertible bond for proceeds of KRW 12,000,000,000 on June 30, 2021. The transaction will include participation from new investors Sangsangin Plus Savings Bank Co.,Ltd. for KRW 5,000,000,000, Sangsangin Investment & Securities Co.,Ltd. for KRW 2,000,000,000, Sangsangin Savings Bank, Investment Arm for KRW 5,000,000,000. The bonds carry surface interest rate of 2% and interest rate to maturity of 4% per annum. The bonds will mature on July 5, 2024. The bonds are fully convertible into 3,324,099 shares of the company at a conversion price of KRW 3,610 per share. The conversion period will start from July 5, 2022 and ends on June 5, 2024. The shares have face value of KRW 200 and will be issued at a premium. The transaction is expected to close on July 5, 2021. The transaction has been approved by the board of directors of the company. Announcement • Apr 24
Kukdong Corporation (KOSE:A005320) announces an Equity Buyback for KRW 3,500 million worth of its shares. Kukdong Corporation (KOSE:A005320) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,500 million worth of shares pursuant to a trust agreement with Shinhan Investment Corp. The purpose of the program is to increase shareholder value through stock price stabilization. The repurchase program will continue until October 21, 2021. As of April 20, 2021, the company had 216,073 shares in treasury within scope available for dividend and no shares in treasury under other capacities. Announcement • Mar 10
Kukdong Corporation, Annual General Meeting, Mar 29, 2021 Kukdong Corporation, Annual General Meeting, Mar 29, 2021, at 09:00 Korea Standard Time. Location: Kuk-dong Co., Ltd. Meeting room, 405, Cheonho-daero, Dongdaemun-gu Seoul South Korea Is New 90 Day High Low • Jan 19
New 90-day high: ₩4,325 The company is up 7.0% from its price of ₩4,045 on 21 October 2020. The South Korean market is up 26% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 9.0% over the same period. Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improved over the past week After last week's 15% share price gain to ₩4,200, the stock is trading at a trailing P/E ratio of 6.4x, up from the previous P/E ratio of 5.6x. This compares to an average P/E of 14x in the Luxury industry in South Korea. Total returns to shareholders over the past three years are 57%. Valuation Update With 7 Day Price Move • Nov 06
Market bids up stock over the past week After last week's 19% share price gain to ₩4,085, the stock is trading at a trailing P/E ratio of 12.3x, up from the previous P/E ratio of 10.4x. This compares to an average P/E of 14x in the Luxury industry in South Korea. Total returns to shareholders over the past three years are 33%. Announcement • Aug 08
Kukdong Corporation announced that it has received KRW 4.3 billion in funding On August 7, 2020, Kukdong Corporation (KOSE:A005320) closed the transaction. Announcement • Aug 06
Kukdong Corporation announced that it expects to receive KRW 4.3 billion in funding Kukdong Corporation (KOSE:A005320) announced a private placement of Round 12 unregistered coupon nonguaranteed private convertible bond for gross proceeds of KRW 13,500,000,000 on August 5, 2020. The bonds will issue at par. The bonds have yield to maturity of 3% and annual coupon is 2%. The bonds have maturity date of August 7, 2023. The bonds can be fully converted into 1,339,146 common shares of the company at a fixed conversion price of KRW 3,211 per share and a conversion period from August 7, 2021 to July 7, 2023. The transaction has been approved by board of directors of the company. Announcement • Jun 30
Kukdong Corporation announced that it has received KRW 13.5 billion in funding from SUSUNG ASSET MANAGEMENT Co., Ltd., IBK Capital Corporation, Hands Partners Co., Ltd., Changjo Investment, InvestAlign Partners Co., Ltd. On June 29, 2020, Kukdong Corporation (KOSE:A005320) closed the transaction.