New Risk • Jun 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩146.7b (US$96.6m) 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: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 75% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (₩146.7b market cap, or US$96.6m). New Risk • Jun 01
New major risk - Revenue and earnings growth Earnings have declined by 75% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 75% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (16% average weekly change). Announcement • Mar 07
NanoTIM Co. Ltd., Annual General Meeting, Mar 23, 2026 NanoTIM Co. Ltd., Annual General Meeting, Mar 23, 2026, at 10:00 Tokyo Standard Time. Location: auditorium, 14, gukjegwahak 2-ro, yuseong-gu, daejeon 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 10% 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). Revenue has declined by 0.2% over the past year. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (₩131.7b market cap, or US$89.3m). Reported Earnings • Nov 19
Third quarter 2025 earnings released: ₩20.00 loss per share (vs ₩94.00 loss in 3Q 2024) Third quarter 2025 results: ₩20.00 loss per share (improved from ₩94.00 loss in 3Q 2024). Revenue: ₩10.3b (up 52% from 3Q 2024). Net loss: ₩406.4m (loss narrowed 78% from 3Q 2024). Announcement • Nov 14
NanoTIM Co. Ltd. announced that it expects to receive KRW 10 billion in funding NanoTIM Co. Ltd. announced a private placement of Unregistered Unsecured Private Convertible Bonds to raise gross proceeds of KRW 10,000,000,000 on November 13, 2025. The bonds are 100% convertible into 1,818,181 Common Shares of the company at a conversion of KRW 5,500. The transaction includes participation from investors 2024 IBK Innovation-AJU Good Venture Fund 3.0 for KRW 4,000,000,000, NH Investment & Securities Co., Ltd. for KRW 1,000,000,000, Korea Investment & Securities Co., Ltd for KRW 1,500,000,000, Samsung Securities Co., Ltd for KRW 1,700,000,000 and KB Securities Co., Ltd for KRW 1,800,000,000. The conversion billing period of the securities starts from November 21, 2026 through October 21, 2030. The bonds have a maturity date of November 21, 2030. The transaction is expected to close on November 21, 2025. Reported Earnings • Aug 19
Second quarter 2025 earnings released: ₩0.076 loss per share (vs ₩27.00 loss in 2Q 2024) Second quarter 2025 results: ₩0.076 loss per share (improved from ₩27.00 loss in 2Q 2024). Revenue: ₩10.9b (up 23% from 2Q 2024). Net loss: ₩1.54m (loss narrowed 100% from 2Q 2024). Profit margin: 0% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Reported Earnings • Mar 19
Full year 2024 earnings released: ₩189 loss per share (vs ₩259 profit in FY 2023) Full year 2024 results: ₩189 loss per share (down from ₩259 profit in FY 2023). Revenue: ₩32.4b (down 31% from FY 2023). Net loss: ₩3.71b (down 176% from profit in FY 2023). Announcement • Mar 07
NanoTIM Co. Ltd., Annual General Meeting, Mar 24, 2025 NanoTIM Co. Ltd., Annual General Meeting, Mar 24, 2025, at 10:00 Tokyo Standard Time. Location: auditorium, 14, gukjegwahak 2-ro, yuseong-gu, daejeon South Korea New Risk • Nov 20
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩135.5b (US$97.0m) 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: Major Risks Debt is not well covered by operating cash flow (5.3% operating cash flow to total debt). Revenue has declined by 23% over the past year. Minor Risks Less than 3 years of financial data is available. Shareholders have been diluted in the past year (3.0% increase in shares outstanding). Market cap is less than US$100m (₩135.5b market cap, or US$97.0m). Reported Earnings • Nov 13
Third quarter 2024 earnings released: ₩94.00 loss per share (vs ₩35.00 profit in 3Q 2023) Third quarter 2024 results: ₩94.00 loss per share (down from ₩35.00 profit in 3Q 2023). Revenue: ₩6.79b (down 36% from 3Q 2023). Net loss: ₩1.83b (down 380% from profit in 3Q 2023). Reported Earnings • Aug 13
Second quarter 2024 earnings released: ₩27.00 loss per share (vs ₩77.00 profit in 2Q 2023) Second quarter 2024 results: ₩27.00 loss per share (down from ₩77.00 profit in 2Q 2023). Revenue: ₩8.87b (down 32% from 2Q 2023). Net loss: ₩522.9m (down 135% from profit in 2Q 2023). Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩9,980, the stock trades at a trailing P/E ratio of 52.9x. Average trailing P/E is 13x in the Chemicals industry in South Korea. Total loss to shareholders of 53% over the past year. Buy Or Sell Opportunity • Jul 07
Now 27% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.4% to ₩13,080. The fair value is estimated to be ₩17,912, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last year, while earnings per share has been flat. Buy Or Sell Opportunity • Jul 05
Now 27% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.3% to ₩13,080. The fair value is estimated to be ₩17,927, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last year, while earnings per share has been flat. Buy Or Sell Opportunity • Jul 05
Now 27% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.5% to ₩13,050. The fair value is estimated to be ₩17,926, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last year, while earnings per share has been flat. Buy Or Sell Opportunity • Jul 05
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.5% to ₩13,050. The fair value is estimated to be ₩17,733, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last year, while earnings per share has been flat. Buy Or Sell Opportunity • Jul 04
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.3% to ₩13,190. The fair value is estimated to be ₩17,754, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last year, while earnings per share has been flat. Buy Or Sell Opportunity • Jul 02
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to ₩13,190. The fair value is estimated to be ₩17,756, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last year, while earnings per share has been flat. Buy Or Sell Opportunity • Jul 01
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.0% to ₩13,730. The fair value is estimated to be ₩17,762, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last year, while earnings per share has been flat. Buy Or Sell Opportunity • Jun 21
Now 21% undervalued Over the last 90 days, the stock has risen 1.4% to ₩14,000. The fair value is estimated to be ₩17,716, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last year, while earnings per share has been flat. Buy Or Sell Opportunity • May 31
Now 21% undervalued Over the last 90 days, the stock has risen 12% to ₩13,910. The fair value is estimated to be ₩17,599, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last year. Earnings per share has grown by 2.5%. New Risk • Mar 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.0% 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 High level of non-cash earnings (50% accrual ratio). Minor Risks Less than 3 years of financial data is available. Shareholders have been diluted in the past year (3.0% increase in shares outstanding). New Risk • Nov 06
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 No financial data reported. Minor Risk Share price has been volatile over the past 3 months (8.9% average weekly change). 