New Risk • Mar 20
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩14.4b (US$9.59m) 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 Earnings have declined by 25% per year over the past 5 years. Market cap is less than US$10m (₩14.4b market cap, or US$9.59m). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (21% increase in shares outstanding). Announcement • Mar 17
Alpha AI Co.,Ltd., Annual General Meeting, Mar 31, 2026 Alpha AI Co.,Ltd., Annual General Meeting, Mar 31, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 154, seotan-ro, seotan-myeon, gyeonggi-do, pyeongtaek South Korea Announcement • Sep 23
Alphanox Co.,Ltd. announced that it has received KRW 5.5 billion in funding from AIMMO CO .,Ltd On September 22, 2025, Alphanox Co.,Ltd. closed the transaction. Announcement • Jul 30
SYB Association,BJ Consortium,Ai Holdings Corporation (TSE:3076),Prime Stone No. 1 Fund,MJPE Investment Fund No. 1, Prot No.1 Fund and Mirae Asset Global Discovery Fund - Mirae Asset Korea New Growth Equity Fund completed the acquisition of 34.31% stake in Alphanox Co.,Ltd. (KOSDAQ:A043100) from MDS Tech Inc. (KOSDAQ:A086960). An undisclosed buyer agreed to acquire 34.31% stake in Alphanox Co.,Ltd. (KOSDAQ:A043100) from MDS Tech Inc. (KOSDAQ:A086960) for KRW 18.01 billion on July 14, 2025. A cash consideration of KRW 18.01 billion will be paid by the buyer. As part of consideration, KRW 18.01 billion is paid towards common equity of Alphanox Co.,Ltd.
The expected completion of the transaction is July 28, 2025. The expected completion of the transaction is changed to July 29, 2025.
SYB Association,BJ Consortium,Ai Holdings Corporation (TSE:3076),Prime Stone No. 1 Fund,MJPE Investment Fund No. 1, Prot No.1 Fund and Mirae Asset Global Discovery Fund - Mirae Asset Korea New Growth Equity Fund completed the acquisition of 34.31% stake in Alphanox Co.,Ltd. (KOSDAQ:A043100) from MDS Tech Inc. (KOSDAQ:A086960) New Risk • Apr 24
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 9.7% 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 Earnings have declined by 16% per year over the past 5 years. Shareholders have been substantially diluted in the past year (145% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (9.7% average weekly change). Market cap is less than US$100m (₩29.1b market cap, or US$20.3m). Announcement • Mar 15
Alphanox Co.,Ltd., Annual General Meeting, Mar 28, 2025 Alphanox Co.,Ltd., Annual General Meeting, Mar 28, 2025, at 08:00 Tokyo Standard Time. Location: conference room, 154, seotan-ro, seotan-myeon, gyeonggi-do, pyeongtaek South Korea New Risk • Dec 31
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 150% 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 (16% average weekly change). Earnings have declined by 12% per year over the past 5 years. Shareholders have been substantially diluted in the past year (150% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩24.2b market cap, or US$16.3m). New Risk • Dec 06
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩13.6b (US$9.60m) 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 Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 12% per year over the past 5 years. Market cap is less than US$10m (₩13.6b market cap, or US$9.60m). Minor Risk Shareholders have been diluted in the past year (20% increase in shares outstanding). Announcement • Sep 14
Alphanox Co.,Ltd. has filed a Follow-on Equity Offering in the amount of KRW 32.4 billion. Alphanox Co.,Ltd. has filed a Follow-on Equity Offering in the amount of KRW 32.4 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 14,400,000
Price\Range: KRW 2250
Discount Per Security: KRW 33.75
Transaction Features: Rights Offering New Risk • Sep 05
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩2.39b (US$1.79m) 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 Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 3.6% per year over the past 5 years. Market cap is less than US$10m (₩2.39b market cap, or US$1.79m). Minor Risk Shareholders have been diluted in the past year (20% increase in shares outstanding). New Risk • Aug 26
New major risk - Revenue and earnings growth Earnings have declined by 3.6% 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 Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 3.6% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (₩27.4b market cap, or US$20.7m). New Risk • Jun 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: 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 (2.1% increase in shares outstanding). Market cap is less than US$100m (₩19.4b market cap, or US$14.0m). New Risk • Apr 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% This is considered a minor 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 Risk Share price has been highly volatile over the past 3 months (15% average weekly change). Minor Risks Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Market cap is less than US$100m (₩32.6b market cap, or US$24.0m). New Risk • Feb 05
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 9.6% 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 (9.6% average weekly change). Market cap is less than US$100m (₩31.1b market cap, or US$23.4m). 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. 4 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Chairman and Chief Executive Officer Seo-Kon Kim was the last director to join the board, commencing their role in 2000. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 24
Second quarter 2022 earnings released: ₩15.19 loss per share (vs ₩1.41 loss in 2Q 2021) Second quarter 2022 results: ₩15.19 loss per share (down from ₩1.41 loss in 2Q 2021). Revenue: ₩6.07b (down 4.2% from 2Q 2021). Net loss: ₩936.7m (loss widened ₩852.0m from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging 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. 4 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Chairman and Chief Executive Officer Seo-Kon Kim was the last director to join the board, commencing their role in 2000. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment improved over the past week After last week's 25% share price gain to ₩1,250, the stock trades at a trailing P/E ratio of 60.7x. Average trailing P/E is 17x in the Medical Equipment industry in South Korea. Total loss to shareholders of 13% over the past three years. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩1,060, the stock trades at a trailing P/E ratio of 51.5x. Average trailing P/E is 18x in the Medical Equipment industry in South Korea. Total loss to shareholders of 26% over the past three years. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩1,525, the stock trades at a trailing P/E ratio of 74.1x. Average trailing P/E is 18x in the Medical Equipment industry in South Korea. Total loss to shareholders of 4.4% over the past three years. 