Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩6,920, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 7x in the Consumer Services industry in South Korea. Total returns to shareholders of 24% over the past three years. New Risk • Apr 03
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₩69.0b market cap, or US$45.7m). Announcement • Mar 07
Visang Education Inc, Annual General Meeting, Mar 27, 2026 Visang Education Inc, Annual General Meeting, Mar 27, 2026, at 08:30 Tokyo Standard Time. Location: vision room, 54, gwacheon-daero 2-gil, gyeonggi-do, gwacheon South Korea Announcement • Feb 12
Visang Education Inc announces Annual dividend Visang Education Inc. announced Annual dividend of KRW 220.0000 per share, ex-date on December 29, 2025 and record date on December 31, 2025. New Risk • Aug 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% 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 High level of debt (50% net debt to equity). Large one-off items impacting financial results. Market cap is less than US$100m (₩69.0b market cap, or US$49.9m). Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩6,670, the stock trades at a trailing P/E ratio of 5.1x. Average trailing P/E is 12x in the Consumer Services industry in South Korea. Total loss to shareholders of 8.3% over the past three years. Reported Earnings • May 20
First quarter 2025 earnings released: EPS: ₩1,850 (vs ₩314 in 1Q 2024) First quarter 2025 results: EPS: ₩1,850 (up from ₩314 in 1Q 2024). Revenue: ₩87.5b (up 34% from 1Q 2024). Net income: ₩22.7b (up 489% from 1Q 2024). Profit margin: 26% (up from 5.9% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. New Risk • May 19
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 8.8% 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 Interest payments are not well covered by earnings (2.9x net interest cover). Earnings have declined by 24% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Market cap is less than US$100m (₩68.4b market cap, or US$48.9m). Announcement • Mar 12
Visang Education Inc, Annual General Meeting, Mar 28, 2025 Visang Education Inc, Annual General Meeting, Mar 28, 2025, at 09:00 Tokyo Standard Time. Location: vision room, 54, gwacheon-daero 2-gil, gyeonggi-do, gwacheon South Korea New Risk • Jan 31
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 Risks Interest payments are not well covered by earnings (0.4x net interest cover). Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 33% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩54.2b market cap, or US$37.6m). New Risk • Dec 11
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 Risks Interest payments are not well covered by earnings (0.4x net interest cover). Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 33% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩61.6b market cap, or US$43.1m). New Risk • Nov 11
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 9.0% 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 Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Earnings have declined by 39% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Market cap is less than US$100m (₩74.0b market cap, or US$53.0m). New Risk • Feb 19
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 8.9% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 38% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Market cap is less than US$100m (₩66.0b market cap, or US$49.5m). Upcoming Dividend • Dec 20
Upcoming dividend of ₩100.00 per share at 1.7% 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 and is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (3.5%). New Risk • Jun 22
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 8.2% 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 Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 30% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Market cap is less than US$100m (₩83.6b market cap, or US$64.6m). Upcoming Dividend • Dec 21
Upcoming dividend of ₩220 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 17 April 2023. Payout ratio is a comfortable 74% but the company is not cash flow positive. Trailing yield: 3.6%. Within top quartile of South Korean dividend payers (3.3%). In line with average of industry peers (3.4%). 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. 4 experienced directors. No highly experienced directors. No independent directors (4 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 • Oct 07
VISANG Education Launches Digital English Learning Solution in partnership with Oxford University Press VISANG Education plans to present a new digital interactive learning solution adapted from one of Oxford University Press' (OUP) popular courses. The newly launched product is mainly based on the Oxford Discovery Series, OUP's English textbook, combined with VISANG's edutech platform, AllviA. VISANG has developed different series of solutions for elementary and middle schools through a close cooperation with OUP recently. VISANG's solution features the use of Oxford's high-level English educational content through interactive classes between teachers and students. The teacher's electronic blackboard and the student's tablet PC are linked and can be updated in a real time. Not only the online digital lessons are available, but also the interactive offline class lessons are available, even without any internet connection. VISANG and OUP have collaborated on adapting two series of Oxford Discover Futures, one for elementary and another for secondary school. Of these, the secondary level will be introduced into the Vietnamese Education market in stages. The program is expected to be well-received, especially due to the increase in demand for high-quality English language learning contents in Vietnam. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩5,530, the stock trades at a trailing P/E ratio of 34.2x. Average trailing P/E is 11x in the Consumer Services industry in South Korea. Total loss to shareholders of 34% over the past three years. Reported Earnings • May 22
First quarter 2022 earnings released: EPS: ₩292 (vs ₩624 in 1Q 2021) First quarter 2022 results: EPS: ₩292 (down from ₩624 in 1Q 2021). Revenue: ₩70.8b (up 8.6% from 1Q 2021). Net income: ₩3.58b (down 53% from 1Q 2021). Profit margin: 5.1% (down from 12% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. 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. 4 experienced directors. No highly experienced directors. No independent directors (4 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 ₩150 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 11 April 2022. Payout ratio is a comfortable 44% and the cash payout ratio is 94%. Trailing yield: 1.9%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (2.3%). Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩9,090, the stock trades at a trailing P/E ratio of 31.4x. Average trailing P/E is 19x in the Consumer Services industry in South Korea. Total returns to shareholders of 21% over the past three years. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improved over the past week After last week's 17% share price gain to ₩14,050, the stock trades at a trailing P/E ratio of 48.5x. Average trailing P/E is 21x in the Consumer Services industry in South Korea. Total returns to shareholders of 68% over the past three years. Valuation Update With 7 Day Price Move • May 28
Investor sentiment improved over the past week After last week's 21% share price gain to ₩11,000, the stock trades at a trailing P/E ratio of 37.9x. Average trailing P/E is 24x in the Consumer Services industry in South Korea. Total returns to shareholders of 30% over the past three years. Reported Earnings • May 20
First quarter 2021 earnings released: EPS ₩624 (vs ₩877 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₩65.2b (up 75% from 1Q 2020). Net income: ₩7.65b (up ₩18.4b from 1Q 2020). Profit margin: 12% (up from net loss in 1Q 2020). 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 65 percentage points per year, which is a significant difference in performance. Announcement • Mar 06
Visang Education Inc, Annual General Meeting, Mar 26, 2021 Visang Education Inc, Annual General Meeting, Mar 26, 2021, at 09:00 Korea Standard Time. Is New 90 Day High Low • Feb 19
New 90-day high: ₩6,810 The company is up 2.0% from its price of ₩6,660 on 20 November 2020. The South Korean market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is up 4.0% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩250 Per Share Will be paid on the 10th of April to those who are registered shareholders by the 29th of December. The trailing yield of 3.8% is in the top quartile of South Korean dividend payers (2.6%), and it is higher than industry peers (3.2%). Is New 90 Day High Low • Oct 21
New 90-day low: ₩6,450 The company is down 8.0% from its price of ₩7,030 on 23 July 2020. The South Korean market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is up 1.0% over the same period. Is New 90 Day High Low • Sep 21
New 90-day low: ₩6,880 The company is down 3.0% from its price of ₩7,090 on 23 June 2020. The South Korean market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is up 2.0% over the same period.