Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩3,430, the stock trades at a trailing P/E ratio of 45x. Average trailing P/E is 13x in the Chemicals industry in South Korea. Total loss to shareholders of 25% over the past three years. New Risk • Jun 24
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩146.0b (US$94.7m) 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 Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risks Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (₩146.0b market cap, or US$94.7m). Valuation Update With 7 Day Price Move • May 29
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩4,920, the stock trades at a trailing P/E ratio of 24.3x. Average trailing P/E is 14x in the Chemicals industry in South Korea. Total returns to shareholders of 6.2% over the past three years. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩5,170, the stock trades at a trailing P/E ratio of 37.6x. Average trailing P/E is 16x in the Chemicals industry in South Korea. Total returns to shareholders of 13% over the past three years. New Risk • Apr 03
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: 1.5% Last year net profit margin: 4.1% 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 (2.3x net interest cover). Minor Risk Profit margins are more than 30% lower than last year (1.5% net profit margin). Announcement • Mar 13
Kyungin Synthetic Co., Ltd., Annual General Meeting, Mar 27, 2026 Kyungin Synthetic Co., Ltd., Annual General Meeting, Mar 27, 2026, at 09:01 Tokyo Standard Time. Location: auditorium, 46, eunbong-ro 60beon-gil, namdong-gu, incheon South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to ₩3,685, the stock trades at a trailing P/E ratio of 19.7x. Average trailing P/E is 13x in the Chemicals industry in South Korea. Total loss to shareholders of 21% over the past three years. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩4,170, the stock trades at a trailing P/E ratio of 22.3x. Average trailing P/E is 12x in the Chemicals industry in South Korea. Total returns to shareholders of 2.2% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 15 April 2026. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of South Korean dividend payers (3.6%). In line with average of industry peers (1.3%). New Risk • Dec 09
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 8.4% 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 Interest payments are not well covered by earnings (2.2x net interest cover). Earnings have declined by 3.6% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change). Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩3,330, the stock trades at a trailing P/E ratio of 17.8x. Average trailing P/E is 12x in the Chemicals industry in South Korea. Total loss to shareholders of 29% over the past three years. Reported Earnings • Nov 19
Third quarter 2025 earnings released: EPS: ₩35.00 (vs ₩5.00 in 3Q 2024) Third quarter 2025 results: EPS: ₩35.00 (up from ₩5.00 in 3Q 2024). Revenue: ₩90.7b (down 2.1% from 3Q 2024). Net income: ₩1.45b (up ₩1.26b from 3Q 2024). Profit margin: 1.6% (up from 0.2% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. 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: 15th April 2026 Dividend yield will be 1.8%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has not increased over the past 6 years but payments have been stable during that time. Earnings per share has grown by 8.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Nov 07
Kyungin Synthetic Co., Ltd. announces Annual dividend, payable on April 15, 2026 Kyungin Synthetic Co., Ltd. announced Annual dividend of KRW 50.0000 per share payable on April 15, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Reported Earnings • Aug 19
Second quarter 2025 earnings released: ₩45.00 loss per share (vs ₩159 profit in 2Q 2024) Second quarter 2025 results: ₩45.00 loss per share (down from ₩159 profit in 2Q 2024). Revenue: ₩100.3b (flat on 2Q 2024). Net loss: ₩1.86b (down 128% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Reported Earnings • May 21
First quarter 2025 earnings released: EPS: ₩61.00 (vs ₩72.00 in 1Q 2024) First quarter 2025 results: EPS: ₩61.00 (down from ₩72.00 in 1Q 2024). Revenue: ₩99.4b (up 11% from 1Q 2024). Net income: ₩2.51b (down 16% from 1Q 2024). Profit margin: 2.5% (down from 3.3% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Announcement • Mar 13
Kyungin Synthetic Co., Ltd., Annual General Meeting, Mar 28, 2025 Kyungin Synthetic Co., Ltd., Annual General Meeting, Mar 28, 2025, at 09:01 Tokyo Standard Time. Location: auditorium, 46, eunbong-ro 60beon-gil, namdong-gu, incheon South Korea Announcement • Jan 10
Kyungin Synthetic Co., Ltd. (KOSE:A012610) announces an Equity Buyback for KRW 1,000 million worth of its shares. Kyungin Synthetic Co., Ltd. (KOSE:A012610) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its shares according to the contract with Hana Securities CO.,LTD. The purpose of the program is stock price stabilization and shareholder value enhancement. The program will expire on January 9, 2026. As of January 5, 2025, the company had 414,082 shares in treasury within the scope available for dividend payable and no shares through other acquisition. Upcoming Dividend • Dec 20
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 09 April 2025. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (2.2%). 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: ₩159 (vs ₩120 loss in 2Q 2023) Second quarter 2024 results: EPS: ₩159 (up from ₩120 loss in 2Q 2023). Revenue: ₩99.8b (up 11% from 2Q 2023). Net income: ₩6.58b (up ₩11.6b from 2Q 2023). Profit margin: 6.6% (up from net loss in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. New Risk • Aug 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩118.0b (US$86.5m) 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 Interest payments are not well covered by earnings (0.7x net interest cover). Earnings have declined by 19% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (₩118.0b market cap, or US$86.5m). New Risk • Apr 20
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩137.4b (US$99.9m) 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 (11% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 12% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩137.4b market cap, or US$99.9m). Reported Earnings • Mar 19
Full year 2023 earnings released: ₩259 loss per share (vs ₩345 profit in FY 2022) Full year 2023 results: ₩259 loss per share (down from ₩345 profit in FY 2022). Revenue: ₩345.4b (down 14% from FY 2022). Net loss: ₩10.7b (down 175% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Announcement • Mar 01
Kyungin Synthetic Co., Ltd. (KOSE:A012610) announces an Equity Buyback for KRW 1,000 million worth of its shares. Kyungin Synthetic Co., Ltd. (KOSE:A012610) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its shares according to the contract with Hana Securities CO.,LTD. The purpose of the program is stock price stabilization and shareholder value enhancement. The program will expire on February 28, 2025. As of February 28, 2024, the company had 99,600 shares in treasury within the scope available for dividend payable and no shares through other acquisition. Upcoming Dividend • Dec 20
Upcoming dividend of ₩50.00 per share at 1.3% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 11 April 2024. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 1.3%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (1.8%). New Risk • Nov 21
New major risk - Revenue and earnings growth Earnings have declined by 3.3% 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 (15% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 143% Earnings have declined by 3.3% per year over the past 5 years. Reported Earnings • May 18
First quarter 2023 earnings released: EPS: ₩74.00 (vs ₩183 in 1Q 2022) First quarter 2023 results: EPS: ₩74.00 (down from ₩183 in 1Q 2022). Revenue: ₩90.7b (down 20% from 1Q 2022). Net income: ₩3.07b (down 60% from 1Q 2022). Profit margin: 3.4% (down from 6.7% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 22
Full year 2022 earnings released: EPS: ₩345 (vs ₩589 in FY 2021) Full year 2022 results: EPS: ₩345 (down from ₩589 in FY 2021). Revenue: ₩402.6b (flat on FY 2021). Net income: ₩14.3b (down 41% from FY 2021). Profit margin: 3.6% (down from 6.0% in FY 2021). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩5,130, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 13x in the Chemicals industry in South Korea. Total loss to shareholders of 29% over the past three years. Upcoming Dividend • Dec 21
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 12 April 2023. Payout ratio is a comfortable 9.1% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (2.4%). Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Upcoming Dividend • Dec 22
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 18 April 2022. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (1.5%). Is New 90 Day High Low • Mar 09
New 90-day low: ₩6,610 The company is down 8.0% from its price of ₩7,190 on 09 December 2020. The South Korean market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 12% over the same period. Is New 90 Day High Low • Jan 12
New 90-day high: ₩7,710 The company is up 8.0% from its price of ₩7,170 on 14 October 2020. The South Korean market is up 28% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 33% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩50.00 Per Share Will be paid on the 17th of April to those who are registered shareholders by the 29th of December. The trailing yield of 0.7% is below the top quartile of South Korean dividend payers (2.6%), and is lower than industry peers (0.9%). Is New 90 Day High Low • Oct 20
New 90-day low: ₩6,780 The company is down 24% from its price of ₩8,940 on 22 July 2020. The South Korean market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 19% over the same period. Is New 90 Day High Low • Sep 22
New 90-day low: ₩7,340 The company is down 20% from its price of ₩9,140 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 Chemicals industry, which is up 31% over the same period. Announcement • Jul 30
Kyungin Synthetic Co., Ltd. (KOSE:A012610) acquired Semiconductor Materials Business from S Company. Kyungin Synthetic Co., Ltd. (KOSE:A012610) acquired Semiconductor Materials Business from S Company on April 3, 2020.
Kyungin Synthetic Co., Ltd. (KOSE:A012610) completed the acquisition of Semiconductor Materials Business from S Company on April 3, 2020.