New Risk • May 12
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 13% 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 25% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (₩104.7b market cap, or US$70.3m). Announcement • Mar 04
Sugentech Inc., Annual General Meeting, Mar 26, 2026 Sugentech Inc., Annual General Meeting, Mar 26, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 721-26, jeongjungyeonje-ro, osong-eup, chungcheongbuk-do, cheongju South Korea Announcement • Sep 08
Sugentech Inc. announced that it has received KRW 12.506195 billion in funding from Synergy IB Investment Co., Ltd., Synergy-Premier Mezzanine Blind No. 1 New Technology Business Investment Fund, IBK Capital Corporation, Korea Investment & Securities Co., Ltd. On September 8, 2025, Sugentech Inc closed the transaction. New Risk • Jun 24
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 Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 0.5% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩113.4b market cap, or US$83.2m). New Risk • May 29
New major risk - Revenue and earnings growth Earnings have declined by 0.5% 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 0.5% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (₩123.1b market cap, or US$89.1m). 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 11% 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 (11% average weekly change). Market cap is less than US$100m (₩109.5b market cap, or US$78.8m). Reported Earnings • Mar 14
Full year 2024 earnings released: ₩994 loss per share (vs ₩1,090 loss in FY 2023) Full year 2024 results: ₩994 loss per share (improved from ₩1,090 loss in FY 2023). Revenue: ₩10.1b (up 42% from FY 2023). Net loss: ₩15.2b (loss narrowed 12% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Announcement • Mar 08
Sugentech Inc., Annual General Meeting, Mar 26, 2025 Sugentech Inc., Annual General Meeting, Mar 26, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 721-26, jeongjungyeonje-ro, osong-eup, heungdeok-gu, chungcheongbuk-do, cheongju South Korea New Risk • Jan 12
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 Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (₩134.7b market cap, or US$91.5m). New Risk • Jan 04
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 9.3% 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 (9.3% average weekly change). Market cap is less than US$100m (₩107.2b market cap, or US$73.0m). New Risk • Dec 16
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 Risk Market cap is less than US$100m (₩82.7b market cap, or US$57.6m). New Risk • Aug 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 9.8% 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: Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Share price has been volatile over the past 3 months (9.8% average weekly change). Market cap is less than US$100m (₩119.3b market cap, or US$87.3m). Reported Earnings • Mar 20
Full year 2023 earnings released: ₩1,090 loss per share (vs ₩1,686 profit in FY 2022) Full year 2023 results: ₩1,090 loss per share (down from ₩1,686 profit in FY 2022). Net loss: ₩17.2b (down 165% from profit in FY 2022). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩150 per share at 1.8% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 11 April 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.6%). New Risk • Dec 04
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 11% 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 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. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (2.0% increase in shares outstanding). New Risk • Sep 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.2% 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 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. Minor Risks Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Market cap is less than US$100m (₩129.0b market cap, or US$97.1m). New Risk • Jul 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.3% 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: Minor Risks Paying a dividend despite being loss-making. Shareholders have been diluted in the past year (5.3% increase in shares outstanding). Market cap is less than US$100m (₩115.4b market cap, or US$90.9m). New Risk • Jun 20
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩128.0b (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: Minor Risks Paying a dividend despite being loss-making. Shareholders have been diluted in the past year (5.0% increase in shares outstanding). Market cap is less than US$100m (₩128.0b market cap, or US$99.8m). Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: ₩1,686 (vs ₩2,352 in FY 2021) Full year 2022 results: EPS: ₩1,686 (down from ₩2,352 in FY 2021). Revenue: ₩101.4b (up 31% from FY 2021). Net income: ₩26.7b (down 26% from FY 2021). Profit margin: 26% (down from 47% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 22% share price gain to ₩12,650, the stock trades at a trailing P/E ratio of 3.3x. Average trailing P/E is 12x in the Medical Equipment industry in South Korea. Total returns to shareholders of 131% over the past three years. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improved over the past week After last week's 20% share price gain to ₩10,600, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 10x in the Medical Equipment industry in South Korea. Total returns to shareholders of 66% over the past three years. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improved over the past week After last week's 32% share price gain to ₩13,250, the stock trades at a trailing P/E ratio of 3.1x. Average trailing P/E is 11x in the Medical Equipment industry in South Korea. Total returns to shareholders of 88% over the past three years. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩10,000, the stock trades at a trailing P/E ratio of 2.4x. Average trailing P/E is 13x in the Medical Equipment industry in South Korea. Total returns to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₩18,350, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 16x in the Medical Equipment industry in South Korea. Total returns to shareholders of 31% over the past three years. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improved over the past week After last week's 19% share price gain to ₩14,250, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 16x in the Medical Equipment industry in South Korea. Total returns to shareholders of 5.9% over the past three years. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improved over the past week After last week's 32% share price gain to ₩17,850, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 15x in the Medical Equipment industry in South Korea. Total returns to shareholders of 32% over the past three years. Is New 90 Day High Low • Feb 26
New 90-day low: ₩13,600 The company is down 49% from its price of ₩26,500 on 27 November 2020. The South Korean market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 4.0% over the same period. Is New 90 Day High Low • Feb 03
New 90-day low: ₩16,650 The company is down 50% from its price of ₩33,550 on 05 November 2020. The South Korean market is up 28% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 8.0% over the same period. Is New 90 Day High Low • Jan 11
New 90-day low: ₩17,300 The company is down 52% from its price of ₩36,350 on 13 October 2020. The South Korean market is up 29% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 2.0% over the same period. Is New 90 Day High Low • Dec 23
New 90-day low: ₩21,850 The company is down 49% from its price of ₩42,650 on 24 September 2020. The South Korean market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 1.0% over the same period. Is New 90 Day High Low • Nov 11
New 90-day low: ₩27,800 The company is down 19% from its price of ₩34,200 on 13 August 2020. The South Korean market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is down 1.0% over the same period. 
