New Risk • Jun 01
New major risk - Revenue and earnings growth Earnings have declined by 7.7% 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 (29% average weekly change). Earnings have declined by 7.7% per year over the past 5 years. Shareholders have been substantially diluted in the past year (82% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩71.7b market cap, or US$47.5m). Announcement • May 14
Dynamic solution Co.,Ltd. announced that it expects to receive KRW 5 billion in funding Dynamic solution Co.,Ltd. announced private placement to issue 2% Series 10 Unregistered Interest Unsecured Private Convertible Bonds due May 21, 2029 for gross proceeds of KRW 5,000,000,000 on May 13, 2026. The transaction includes participation from Mirae Asset Securities Co., Ltd.(From the status of the fund's trustee). The bonds bear 2% interest rate, 4% yield to maturity and will have a maturity date of May 21, 2029. The bonds are 100% convertible into 4,382,120 common shares at a conversion price of KRW 1,141 at a conversion period from May 21, 2027 to April 21, 2029. The bonds are restricted for 1 year. The transaction is approved by board of directors of the company and is expected to close on May 21, 2026. Announcement • Mar 25
Neofect Co., Ltd. announced that it expects to receive KRW 20 billion in funding Neofect Co., Ltd announced a private placement to issue Series 9 Unsecured Private Convertible Bonds for the proceeds of KRW 20,000,000,000 on March 24, 2026. Bond bear 1% interest and 3% yield to maturity. Transaction involves participation of Bronte New Technology Fund No. 83 as an investor. Bond matures on May 27, 2029 and conversion price is KRW 1,347. Transaction is approved by board of directors and is expected to close May 27, 2026. Bonds have 1 year hold period. Reported Earnings • Mar 21
Full year 2025 earnings released: ₩218 loss per share (vs ₩45.98 loss in FY 2024) Full year 2025 results: ₩218 loss per share (further deteriorated from ₩45.98 loss in FY 2024). Revenue: ₩16.1b (down 7.1% from FY 2024). Net loss: ₩10.8b (loss widened 468% from FY 2024). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Mar 12
Neofect Co., Ltd., Annual General Meeting, Mar 25, 2026 Neofect Co., Ltd., Annual General Meeting, Mar 25, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 42, changeop-ro, sujeong-gu, gyeonggi-do, seongnam South Korea New Risk • Jan 28
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 Shareholders have been substantially diluted in the past year (64% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (₩65.4b market cap, or US$45.7m). New Risk • Jan 06
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 43% 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 Risk Shareholders have been substantially diluted in the past year (43% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩51.6b market cap, or US$35.7m). New Risk • Dec 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 26% 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 Shareholders have been diluted in the past year (26% increase in shares outstanding). Market cap is less than US$100m (₩44.4b market cap, or US$30.8m). Announcement • Nov 28
Neofect Co., Ltd. announced that it has received KRW 5.49999938 billion in funding from Yeomi Midia Co. Ltd., On November 27, 2025. Neofect Co., Ltd. announced that it has closed the transaction. Announcement • Oct 14
Neofect Co., Ltd. announced that it has received KRW 1 billion in funding from Organ Eco Tech Co.,Ltd. On October 13, 2025, Neofect Co., Ltd. closed the transaction. Announcement • Aug 21
Mildred Co., Ltd. completed the acquisition of Knightsbridge Co., Ltd. from Neofect Co., Ltd. (KOSDAQ:A290660). Mildred Co., Ltd. agreed to acquire Knightsbridge Co., Ltd. from Neofect Co., Ltd. (KOSDAQ:A290660) for KRW 12.3 billion on July 29, 2025. As part of acquisition, 23,000,000 shares will be acquired. As part of consideration KRW 1.23 billion will be paid on contract signing date and balance of KRW 11.07 billion will be paid at closing date.
For the period ending December 31, 2024, Knightsbridge Co., Ltd. reported sales of KRW 1.96 billion and net income of KRW 405.85 million. As of December 31, 2024, Knightsbridge Co., Ltd. reported total debt of KRW 199.39 million, total assets of KRW 13.84 billion and total common equity of KRW 13.64 billion.
The expected completion of the transaction is August 31, 2025. As of August 19, 2025, the deal is expected to complete on August 19, 2025.
Mildred Co., Ltd. completed the acquisition of Knightsbridge Co., Ltd. from Neofect Co., Ltd. (KOSDAQ:A290660) on August 19, 2025. Reported Earnings • Aug 14
Second quarter 2025 earnings released: ₩327 loss per share (vs ₩82.00 profit in 2Q 2024) Second quarter 2025 results: ₩327 loss per share (down from ₩82.00 profit in 2Q 2024). Revenue: ₩6.20b (up 15% from 2Q 2024). Net loss: ₩15.1b (down ₩18.5b from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Aug 13
Petafield Co., Ltd., GY Healthcare No. 2 Investment Fund, GY Healthcare No. 3 Investment Fund and GY Healthcare No. 4 Investment Fund completed the acquisition of 27.9% stake in Neofect Co., Ltd. (KOSDAQ:A290660) from Scandi New Technology Association No. 278, Lxwidwin investment Fund 1 and Cheongdam Medicare New Technology Union 1 and others. Petafield Co., Ltd., GY Healthcare No. 2 Investment Fund, GY Healthcare No. 3 Investment Fund and GY Healthcare No. 4 Investment Fund agreed to acquire 27.9% stake in Neofect Co., Ltd. (KOSDAQ:A290660) from Scandi New Technology Association No. 278, Lxwidwin investment Fund 1 and Cheongdam Medicare New Technology Union 1 and others for KRW 27 billion on June 27, 2025. A cash consideration of KRW 27 billion valued at KRW 2000 per share will be paid by Petafield Co., Ltd., GY Healthcare No. 2 Investment Fund, GY Healthcare No. 3 Investment Fund and GY Healthcare No. 4 Investment Fund for 13.5 million shares of Neofect Co., Ltd. As part of consideration, KRW 27 billion is paid towards common equity of Neofect Co., Ltd. Post the transaction, Scandi New Technology Association No. 278 will hold 3.16% stake in Neofect Co., Ltd.
The expected completion of the transaction is August 13, 2025.
Petafield Co., Ltd., GY Healthcare No. 2 Investment Fund, GY Healthcare No. 3 Investment Fund and GY Healthcare No. 4 Investment Fund completed the acquisition of 27.9% stake in Neofect Co., Ltd. (KOSDAQ:A290660) from Scandi New Technology Association No. 278, Lxwidwin investment Fund 1 and Cheongdam Medicare New Technology Union 1 and others on August 12, 2025. Announcement • Jul 29
Mildred Co., Ltd. agreed to acquire Knightsbridge Co., Ltd. from Neofect Co., Ltd. (KOSDAQ:A290660) for KRW 12.3 billion. Mildred Co., Ltd. agreed to acquire Knightsbridge Co., Ltd. from Neofect Co., Ltd. (KOSDAQ:A290660) for KRW 12.3 billion on July 29, 2025. As part of acquisition, 23,000,000 shares will be acquired. As part of consideration KRW 1.23 billion will be paid on contract signing date and balance of KRW 11.07 billion will be paid at closing date.
For the period ending December 31, 2024, Knightsbridge Co., Ltd. reported sales of KRW 1.96 billion and net income of KRW 405.85 million. As of December 31, 2024, Knightsbridge Co., Ltd. reported total debt of KRW 199.39 million, total assets of KRW 13.84 billion and total common equity of KRW 13.64 billion.
The expected completion of the transaction is August 31, 2025. New Risk • Jul 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% 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 (13% average weekly change). Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (₩65.2b market cap, or US$47.2m). Announcement • Jun 20
Neofect Co., Ltd. announced that it expects to receive KRW 12 billion in funding Neofect Co., Ltd announced a private placement to issue 7,500,000 shares at an issue price of KRW 800 per share for gross proceeds of KRW 6,000,000,000 on June 18, 2025. The transaction will include participation from new investor Fleur New Technology Fund No. 91. The transaction has been approved by shareholders, restricted to a hold period, expected to close on August 18, 2025.
7,500,000 shares - The company will issue 7,500,000 shares at an issue price of KRW 800 per share gross proceeds of KRW 6,000,000,000; aggregate gross proceeds of KRW 12,000,000,000. The transaction will include participation from new investor Sion New Technology Fund No. 90. The transaction has been approved by shareholders, restricted to a hold period, expected to close on July 18, 2025. New Risk • Jun 18
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 9.1% 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 (9.1% average weekly change). Market cap is less than US$100m (₩54.4b market cap, or US$39.6m). Announcement • Mar 14
Neofect Co., Ltd., Annual General Meeting, Mar 28, 2025 Neofect Co., Ltd., Annual General Meeting, Mar 28, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 42, changeop-ro, sujeong-gu, gyeonggi-do, seongnam South Korea 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 Risks Shareholders have been diluted in the past year (35% increase in shares outstanding). Market cap is less than US$100m (₩40.9b market cap, or US$28.5m). Announcement • Oct 22
Neofect Co., Ltd. has completed a Follow-on Equity Offering in the amount of KRW 999.999675 million. Neofect Co., Ltd. has completed a Follow-on Equity Offering in the amount of KRW 999.999675 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,145,475
Price\Range: KRW 873
Transaction Features: Subsequent Direct Listing Announcement • Oct 17
Neofect Co., Ltd. announced that it expects to receive KRW 1.99999935 billion in funding from Aprogen I&C, Inc. Neofect Co., Ltd. announced a private placement to issue 2,290,950 common shares at an issue price of KRW 873 per share for the gross proceeds of KRW 1,999,999,350 on October 15, 2024. The transaction will include participation from new investor Aprogen I&C, Inc. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on October 23, 2024. Announcement • Oct 09
Neofect Co., Ltd. announced that it expects to receive KRW 999.999675 million in funding from Cj Consulting Co., Ltd., YR Invest Co., Ltd Neofect Co., Ltd. announced a private placemen to issue 1,145,475 shares at an issue price of KRW 873 per share for the gross proceeds of KRW 999,999,675 on October 8, 2024. The transaction will include participation from new investors Cj Consulting Co., Ltd. 916,380 shares and YR Invest Co., Ltd 229,095 shares. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on October 21, 2024. Announcement • Apr 10
Neofect Co.,Ltd announced that it has received KRW 4.99999991 billion in funding from Scandi New Technology Association No. 278 On April 9, 2024, Neofect Co.,Ltd. closed the transaction. The company issued 2,722,323 common shares at an issue price of KRW 1,102 for the gross proceeds of KRW 2,999,999,946 in its second and final tranche closing. The company has received KRW 4,999,999,910 in the transaction. Announcement • Dec 28
Neofect Co.,Ltd announced that it has received KRW 4.99999991 billion in funding from Kyowon Life, Inc., Scandi New Technology Association No. 278 On December 26, 2023, Neofect Co.,Ltd. closed the transaction. The company received KRW 1,999,999,964 in its second and final tranche closing. New Risk • Nov 17
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% 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 Risk Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩37.0b market cap, or US$28.7m). New Risk • Jul 03
New major 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 12% 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 Less than 1 year of cash runway based on free cash flow trend (-₩6.0b free cash flow). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (₩35.6b market cap, or US$27.3m). Announcement • Jan 17
Neofect Co.,Ltd has completed a Follow-on Equity Offering in the amount of KRW 999.999245 million. Neofect Co.,Ltd has completed a Follow-on Equity Offering in the amount of KRW 999.999245 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 692,041
Price\Range: KRW 1445
Transaction Features: Subsequent Direct Listing Is New 90 Day High Low • Feb 24
New 90-day low: ₩3,015 The company is down 16% from its price of ₩3,570 on 26 November 2020. The South Korean market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 5.0% over the same period. Is New 90 Day High Low • Feb 03
New 90-day low: ₩3,105 The company is down 19% from its price of ₩3,810 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 18
New 90-day low: ₩3,215 The company is down 16% from its price of ₩3,815 on 20 October 2020. The South Korean market is up 30% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 7.0% over the same period. Is New 90 Day High Low • Dec 28
New 90-day low: ₩3,405 The company is down 25% from its price of ₩4,545 on 29 September 2020. The South Korean market is up 20% 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 • Dec 08
New 90-day low: ₩3,510 The company is down 10.0% from its price of ₩3,905 on 09 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is down 2.0% over the same period. Reported Earnings • Dec 06
Third quarter 2020 earnings released: ₩309 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: ₩4.35b (down 15% from 3Q 2019). Net loss: ₩3.80b (loss widened 7.6% from 3Q 2019). Announcement • Nov 12
Neofect Co.,Ltd has completed a Follow-on Equity Offering in the amount of KRW 18.59 billion. Neofect Co.,Ltd has completed a Follow-on Equity Offering in the amount of KRW 18.59 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 6,500,000
Price\Range: KRW 2860
Discount Per Security: KRW 64.35
Transaction Features: ESOP Related Offering; Rights Offering Is New 90 Day High Low • Oct 26
New 90-day low: ₩3,540 The company is down 29% from its price of ₩5,020 on 28 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 Medical Equipment industry, which is up 9.0% over the same period.