Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩14,540, the stock trades at a trailing P/E ratio of 77.9x. Average trailing P/E is 13x in the Chemicals industry in South Korea. Total loss to shareholders of 30% over the past three years. New Risk • May 30
New major risk - Revenue and earnings growth Earnings have declined by 3.1% 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 Interest payments are not well covered by earnings (2.1x net interest cover). Earnings have declined by 3.1% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (8.6% net profit margin). Announcement • May 15
Lake Materials Co., Ltd. announced that it expects to receive KRW 50 billion in funding Lake Materials Co., Ltd. announced a private placement of series 2 unregistered interest unsecured private convertible bonds for a gross proceeds of KRW 50,000,000,000 on May 13, 2026. The transaction will include participation from The bonds have yield to maturity of 1%. The bonds will mature on April 30, 2024. The bonds will be 100% converted into 3,177,629 common shares at a fixed conversion price of KRW 3,147 per share for an equity stake of 9.71%. The conversion period is from April 30, 2022 to March 30, 2024. The payment date of the transaction is April 30, 2021. The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company. New Risk • Mar 27
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.9x net interest cover). Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.4% net profit margin). Announcement • Feb 27
Lake Materials Co., Ltd., Annual General Meeting, Mar 26, 2026 Lake Materials Co., Ltd., Annual General Meeting, Mar 26, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 22-144, sandan-gil, jeonui-myeon, sejong South Korea New Risk • Jan 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 8.9% 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 Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Profit margins are more than 30% lower than last year (8.8% net profit margin). Upcoming Dividend • Dec 22
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 21 April 2026. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 0.3%. Lower than top quartile of South Korean dividend payers (3.6%). Lower than average of industry peers (1.3%). Declared Dividend • Nov 08
Dividend of ₩50.00 announced Dividend of ₩50.00 is the same as last year. Ex-date: 29th December 2025 Payment date: 21st April 2026 Dividend yield will be 0.4%, which is lower than the industry average of 1.7%. Announcement • Nov 07
Lake Materials Co., Ltd. announces Annual dividend, payable on April 21, 2026 Lake Materials Co., Ltd. announced Annual dividend of KRW 50.0000 per share payable on April 21, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Valuation Update With 7 Day Price Move • Oct 16
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩14,940, the stock trades at a trailing P/E ratio of 64.6x. Average trailing P/E is 14x in the Chemicals industry in South Korea. Total returns to shareholders of 177% over the past three years. New Risk • Aug 29
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: 11% Last year net profit margin: 16% 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: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risk Profit margins are more than 30% lower than last year (11% net profit margin). Reported Earnings • Mar 22
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₩317 (down from ₩367 in FY 2023). Revenue: ₩138.7b (up 18% from FY 2023). Net income: ₩20.9b (down 14% from FY 2023). Profit margin: 15% (down from 21% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 4.2%. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 48% per year, which means it is well ahead of earnings. New Risk • Mar 17
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 12% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (12% average weekly change). High level of non-cash earnings (26% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (14% net profit margin). Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to ₩15,080, the stock trades at a trailing P/E ratio of 55.7x. Average forward P/E is 9x in the Chemicals industry in South Korea. Total returns to shareholders of 229% over the past three years. Announcement • Feb 25
Lake Materials Co., Ltd., Annual General Meeting, Mar 26, 2025 Lake Materials Co., Ltd., Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 22-144, sandan-gil, jeonui-myeon, sejong South Korea New Risk • Feb 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 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (26% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Profit margins are more than 30% lower than last year (14% net profit margin). Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to ₩14,000, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 8x in the Chemicals industry in South Korea. Total returns to shareholders of 203% over the past three years. Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩9,790, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 8x in the Chemicals industry in South Korea. Total returns to shareholders of 116% over the past three years. New Risk • Dec 02
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: 14% Last year net profit margin: 21% 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: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (26% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (14% net profit margin). Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩12,850, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 8x in the Chemicals industry in South Korea. Total returns to shareholders of 171% over the past three years. New Risk • Sep 17
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 Share price has been volatile over the past 3 months (9.5% average weekly change). Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩14,870, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 7x in the Chemicals industry in South Korea. Total returns to shareholders of 209% over the past three years. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩13,500, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 8x in the Chemicals industry in South Korea. Total returns to shareholders of 193% over the past three years. New Risk • Aug 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 8.0% 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 Debt is not well covered by operating cash flow (4.0% operating cash flow to total debt). High level of non-cash earnings (35% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (8.0% average weekly change). Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩15,700, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 9x in the Chemicals industry in South Korea. Total returns to shareholders of 245% over the past three years. Reported Earnings • Mar 23
Full year 2023 earnings released: EPS: ₩367 (vs ₩411 in FY 2022) Full year 2023 results: EPS: ₩367 (down from ₩411 in FY 2022). Revenue: ₩117.8b (down 10% from FY 2022). Net income: ₩24.1b (down 11% from FY 2022). Profit margin: 21% (in line with FY 2022). Revenue is forecast to grow 38% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in South Korea. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 99% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improves as stock rises 42% After last week's 42% share price gain to ₩29,650, the stock trades at a trailing P/E ratio of 74.3x. Average forward P/E is 11x in the Chemicals industry in South Korea. Total returns to shareholders of 753% over the past three years. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩18,610, the stock trades at a trailing P/E ratio of 46.6x. Average forward P/E is 11x in the Chemicals industry in South Korea. Total returns to shareholders of 411% over the past three years. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 35% After last week's 35% share price gain to ₩16,910, the stock trades at a trailing P/E ratio of 42.4x. Average trailing P/E is 16x in the Chemicals industry in South Korea. Total returns to shareholders of 522% over the past three years. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩13,650, the stock trades at a trailing P/E ratio of 30.9x. Average trailing P/E is 16x in the Chemicals industry in South Korea. Total returns to shareholders of 497% over the past three years. New Risk • Nov 22
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 8.8% 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: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). High level of non-cash earnings (33% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (8.8% average weekly change). Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩14,160, the stock trades at a trailing P/E ratio of 32x. Average forward P/E is 12x in the Chemicals industry in South Korea. Total returns to shareholders of 497% over the past three years. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩17,150, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 13x in the Chemicals industry in South Korea. Total returns to shareholders of 563% over the past three years. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩19,350, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 11x in the Chemicals industry in South Korea. Total returns to shareholders of 806% over the past three years. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩18,440, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 11x in the Chemicals industry in South Korea. Total returns to shareholders of 876% over the past three years. Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩12,810, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 11x in the Chemicals industry in South Korea. Total returns to shareholders of 719% over the past three years. Valuation Update With 7 Day Price Move • May 03
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩16,040, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 11x in the Chemicals industry in South Korea. Total returns to shareholders of 1,030% over the past three years. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₩11,140, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 11x in the Chemicals industry in South Korea. Total returns to shareholders of 658% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩12,969 per share. Reported Earnings • Mar 26
Full year 2022 earnings: EPS in line with analyst expectations despite revenue beat Full year 2022 results: EPS: ₩411 (up from ₩275 in FY 2021). Revenue: ₩131.5b (up 61% from FY 2021). Net income: ₩27.0b (up 50% from FY 2021). Profit margin: 21% (down from 22% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Chemicals industry in South Korea. Over the last 3 years on average, earnings per share has increased by 84% per year whereas the company’s share price has increased by 79% per year. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₩8,160, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 10x in the Chemicals industry in South Korea. Total returns to shareholders of 861% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩13,008 per share. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩5,160, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 10x in the Chemicals industry in South Korea. Total returns to shareholders of 20% over the past year. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improved over the past week After last week's 15% share price gain to ₩5,480, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Chemicals industry in South Korea. Total returns to shareholders of 6.6% over the past year. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improved over the past week After last week's 16% share price gain to ₩5,300, the stock trades at a trailing P/E ratio of 21x. Average forward P/E is 11x in the Chemicals industry in South Korea. Total returns to shareholders of 92% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ₩8,481 per share. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improved over the past week After last week's 15% share price gain to ₩4,335, the stock trades at a trailing P/E ratio of 25.2x. Average trailing P/E is 20x in the Chemicals industry in South Korea. Total returns to shareholders of 94% over the past year. Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment improved over the past week After last week's 16% share price gain to ₩5,320, the stock trades at a trailing P/E ratio of 51.8x. Average forward P/E is 10x in the Chemicals industry in South Korea. Total returns to shareholders of 159% over the past year. Is New 90 Day High Low • Feb 15
New 90-day high: ₩3,435 The company is up 54% from its price of ₩2,225 on 17 November 2020. The South Korean market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 31% over the same period. Is New 90 Day High Low • Jan 26
New 90-day high: ₩3,320 The company is up 55% from its price of ₩2,140 on 28 October 2020. The South Korean market is up 36% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 43% over the same period. Is New 90 Day High Low • Dec 02
New 90-day high: ₩2,500 The company is up 20% from its price of ₩2,090 on 03 September 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 12% over the same period.