New Risk • Mar 27
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.3x net interest cover). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₩66.6b market cap, or US$44.1m). Announcement • Mar 10
Kangdong C&L Co., Ltd., Annual General Meeting, Mar 26, 2026 Kangdong C&L Co., Ltd., Annual General Meeting, Mar 26, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 35, yeongcheon-ro, jangseong-eup, jangseong-gun, jeollanam-do, South Korea Announcement • Mar 07
Kangdong C&L Co., Ltd., Annual General Meeting, Mar 26, 2025 Kangdong C&L Co., Ltd., Annual General Meeting, Mar 26, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 35, yeongcheon-ro, jangseong-eup, jangseong-gun, jeollanam-do, South Korea Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩1,442, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 8x in the Basic Materials industry in South Korea. Total loss to shareholders of 61% over the past three years. Announcement • Jan 09
Kangdong Ascon Co., Ltd and Kangeong Remicon HS Co., Ltd. completed the acquisition of an additional 12.32% stake in Kangdong C&L Co., Ltd. (KOSDAQ:A198440) from Kang Daewan. Kangdong Ascon Co., Ltd and Kangeong Remicon HS Co., Ltd. agreed to acquire an additional 12.32% stake in Kangdong C&L Co., Ltd. (KOSDAQ:A198440) from Kang Daewan for KRW 7.9 billion on December 10, 2024. Kangdong Ascon Co., Ltd and Kangeong Remicon HS Co., Ltd. will pay KRW 1,055 for each share of Kangdong C&L Co., Ltd. (KOSDAQ:A198440). The expected completion of the transaction is January 9, 2025.
Kangdong Ascon Co., Ltd and Kangeong Remicon HS Co., Ltd. completed the acquisition of an additional 12.32% stake in Kangdong C&L Co., Ltd. (KOSDAQ:A198440) from Kang Daewan on January 9, 2025. Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩1,055, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 7x in the Basic Materials industry in South Korea. Total loss to shareholders of 74% over the past three years. New Risk • Dec 02
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Earnings have declined by 50% per year over the past 5 years. Shareholders have been substantially diluted in the past year (91% increase in shares outstanding). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₩81.2b market cap, or US$57.8m). New Risk • Jul 15
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 91% 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 (14% average weekly change). Earnings have declined by 65% per year over the past 5 years. Shareholders have been substantially diluted in the past year (91% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩115.1b market cap, or US$83.3m). New Risk • Jun 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 8.7% 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 Risk Earnings have declined by 64% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (₩68.8b market cap, or US$50.1m). Upcoming Dividend • Dec 21
Inaugural dividend of ₩15.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 12 April 2023. This is the first dividend for KOREA CEMENT since going public. The average dividend yield among industry peers is 1.7%. 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 ₩3,005, the stock trades at a trailing P/E ratio of 24.6x. Average trailing P/E is 14x in the Basic Materials industry in South Korea. Total returns to shareholders of 6.9% over the past three years. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improved over the past week After last week's 16% share price gain to ₩5,090, the stock trades at a trailing P/E ratio of 35.1x. Average trailing P/E is 19x in the Basic Materials industry in South Korea. Total returns to shareholders of 80% over the past three years. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improved over the past week After last week's 17% share price gain to ₩4,120, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 21x in the Basic Materials industry in South Korea. Total returns to shareholders of 49% over the past three years. Upcoming Dividend • Dec 22
Inaugural dividend of ₩15.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 13 April 2022. The company is not currently making a profit but it is cash flow positive. This is the first dividend for KOREA CEMENT since going public. The average dividend yield among industry peers is 1.7%. Announcement • Jul 15
Mirae Co., Ltd. agreed to acquire % stake in Dongkwang Leisure Co., Ltd. from KOREA CEMENT co., Ltd (KOSDAQ:A198440) for KRW 10.4 billion. Mirae Co., Ltd. agreed to acquire % stake in Dongkwang Leisure Co., Ltd. from KOREA CEMENT co., Ltd (KOSDAQ:A198440) for KRW 10.4 billion on July 13, 2021. Transaction is expected to close on July 16, 2021. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improved over the past week After last week's 31% share price gain to ₩5,320, the stock trades at a trailing P/E ratio of 30.1x. Average trailing P/E is 28x in the Basic Materials industry in South Korea. Total returns to shareholders of 90% over the past three years. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment improved over the past week After last week's 20% share price gain to ₩3,830, the stock is trading at a trailing P/E ratio of 43.5x, up from the previous P/E ratio of 36.4x. This compares to an average P/E of 33x in the Basic Materials industry in South Korea. Total returns to shareholders over the past three years are 124%. Is New 90 Day High Low • Feb 03
New 90-day high: ₩3,450 The company is up 15% from its price of ₩3,005 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 Basic Materials industry, which is up 41% over the same period. Is New 90 Day High Low • Jan 19
New 90-day high: ₩3,290 The company is up 4.0% from its price of ₩3,170 on 21 October 2020. The South Korean market is up 26% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 31% over the same period. Upcoming Dividend • Dec 22
First Dividend Is ₩15.00 Per Share Will be paid on the 14th of April to those who are registered shareholders by the 29th of December. This is the first dividend for KOREA CEMENT since going public. The average dividend yield among industry peers is 2.4%. Is New 90 Day High Low • Dec 16
New 90-day high: ₩3,240 The company is up 4.0% from its price of ₩3,125 on 17 September 2020. The South Korean market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 14% over the same period. Is New 90 Day High Low • Sep 22
New 90-day low: ₩2,955 The company is down 10.0% from its price of ₩3,300 on 24 June 2020. The South Korean market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 10.0% over the same period.