New Risk • May 26
New major risk - Revenue and earnings growth Earnings have declined by 10% 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 (19% average weekly change). Earnings have declined by 10% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩40.1b market cap, or US$26.5m). New Risk • Feb 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 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: Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (₩47.4b market cap, or US$32.9m). Announcement • Feb 27
Mohenz.Co.,Ltd., Annual General Meeting, Mar 26, 2026 Mohenz.Co.,Ltd., Annual General Meeting, Mar 26, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 40, nonhyeon-ro 28-gil, gangnam-gu, seoul South Korea New Risk • Dec 16
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 8.3% 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 (8.3% average weekly change). Market cap is less than US$100m (₩33.7b market cap, or US$22.9m). New Risk • Aug 30
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2010. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported December 2010 fiscal period end). High level of non-cash earnings (29% accrual ratio). Minor Risk Market cap is less than US$100m (₩31.2b market cap, or US$22.5m). Announcement • Jun 25
Mohenz.Co.,Ltd. (KOSDAQ:A006920) announces an Equity Buyback for 664,452 shares, for KRW 2,000 million. Mohenz.Co.,Ltd. (KOSDAQ:A006920) announces a share repurchase program. Under the program, the company will repurchase up to 664,452 shares for KRW 2,000 million worth of its shares pursuant to a trust agreement with Mirae Asset Securities Co., Ltd. The purpose behind the program is to stabilize the stock price and to enhance shareholder value. The program will continue until June 25, 2026. As of June 24, 2025, the company had 664,653 shares in treasury through buyback within dividend capacity and no shares through other acquisitions. Reported Earnings • May 20
First quarter 2025 earnings released: ₩90.00 loss per share (vs ₩42.00 profit in 1Q 2024) First quarter 2025 results: ₩90.00 loss per share (down from ₩42.00 profit in 1Q 2024). Revenue: ₩15.9b (down 27% from 1Q 2024). Net loss: ₩978.2m (down 313% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩3,595, the stock trades at a trailing P/E ratio of 64.4x. Average trailing P/E is 9x in the Basic Materials industry in South Korea. Total loss to shareholders of 33% over the past three years. New Risk • Apr 10
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). Profit margins are more than 30% lower than last year (0.6% net profit margin). Market cap is less than US$100m (₩46.1b market cap, or US$31.7m). Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to ₩4,220, the stock trades at a trailing P/E ratio of 79.4x. Average trailing P/E is 8x in the Basic Materials industry in South Korea. Total loss to shareholders of 20% over the past three years. Reported Earnings • Mar 15
Full year 2024 earnings released: EPS: ₩53.00 (vs ₩757 in FY 2023) Full year 2024 results: EPS: ₩53.00 (down from ₩757 in FY 2023). Revenue: ₩100.5b (down 9.8% from FY 2023). Net income: ₩580.3m (down 93% from FY 2023). Profit margin: 0.6% (down from 7.4% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Feb 20
Mohenz.Co.,Ltd., Annual General Meeting, Mar 21, 2025 Mohenz.Co.,Ltd., Annual General Meeting, Mar 21, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 40, nonhyeon-ro 28-gil, gangnam-gu, seoul South Korea New Risk • Dec 07
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended June 2010. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risk Latest financial reports are more than 1 year old (reported June 2010 fiscal period end). Minor Risk Market cap is less than US$100m (₩31.9b market cap, or US$22.4m). Announcement • Dec 04
Mohenz.Co.,Ltd. (KOSDAQ:A006920) announces an Equity Buyback for KRW 2,000 million worth of its shares. Mohenz.Co.,Ltd. (KOSDAQ:A006920) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares pursuant to a trust agreement with Mirae Asset Securities Co., Ltd. The purpose behind the program is to stabilize the stock price and to enhance shareholder value. The program will continue until June 3, 2025. As of December 2, 2024, the company had no shares in treasury through buyback within dividend capacity or through other acquisitions. Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: ₩47.00 (vs ₩204 in 3Q 2023) Third quarter 2024 results: EPS: ₩47.00 (down from ₩204 in 3Q 2023). Revenue: ₩22.7b (down 11% from 3Q 2023). Net income: ₩509.3m (down 77% from 3Q 2023). Profit margin: 2.2% (down from 8.7% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. New Risk • Aug 23
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.7% Last year net profit margin: 5.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (2.7% net profit margin). Market cap is less than US$100m (₩32.3b market cap, or US$24.1m). Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: ₩757 (vs ₩171 in FY 2022) Full year 2023 results: EPS: ₩757 (up from ₩171 in FY 2022). Revenue: ₩111.4b (up 24% from FY 2022). Net income: ₩8.27b (up 343% from FY 2022). Profit margin: 7.4% (up from 2.1% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 116% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩4,155, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 10x in the Basic Materials industry in South Korea. Total loss to shareholders of 12% over the past three years. Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: ₩204 (vs ₩107 in 3Q 2022) Third quarter 2023 results: EPS: ₩204 (up from ₩107 in 3Q 2022). Revenue: ₩25.6b (up 6.8% from 3Q 2022). Net income: ₩2.23b (up 91% from 3Q 2022). Profit margin: 8.7% (up from 4.9% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 121% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩3,835, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 11x in the Basic Materials industry in South Korea. Total loss to shareholders of 21% over the past three years. New Risk • Jun 17
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 (₩62.8b market cap, or US$49.2m). Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩5,750, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 12x in the Basic Materials industry in South Korea. Total returns to shareholders of 41% over the past three years. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩4,450, the stock trades at a trailing P/E ratio of 11x. Average trailing P/E is 13x in the Basic Materials industry in South Korea. Total loss to shareholders of 1.0% over the past three years. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩4,365, the stock trades at a trailing P/E ratio of 23.2x. Average trailing P/E is 21x in the Basic Materials industry in South Korea. Total loss to shareholders of 13% over the past three years. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 21% share price decline to ₩3,160, the stock trades at a trailing P/E ratio of 29.4x. Average trailing P/E is 13x in the Basic Materials industry in South Korea. Total loss to shareholders of 30% over the past three years. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₩3,700, the stock trades at a trailing P/E ratio of 34.5x. Average trailing P/E is 13x in the Basic Materials industry in South Korea. Total loss to shareholders of 17% over the past three years. Is New 90 Day High Low • Dec 11
New 90-day high: ₩5,090 The company is up 17% from its price of ₩4,345 on 11 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Basic Materials industry, which is also up 17% over the same period. Is New 90 Day High Low • Nov 11
New 90-day high: ₩5,030 The company is up 2.0% from its price of ₩4,930 on 13 August 2020. The South Korean market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is down 9.0% over the same period.