Reported Earnings • Mar 17
Full year 2025 earnings released: ₩1,769 loss per share (vs ₩216 profit in FY 2024) Full year 2025 results: ₩1,769 loss per share (down from ₩216 profit in FY 2024). Revenue: ₩802.2b (flat on FY 2024). Net loss: ₩44.7b (down ₩50.2b from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Announcement • Mar 07
Kumkang Kind Co., Ltd., Annual General Meeting, Mar 20, 2026 Kumkang Kind Co., Ltd., Annual General Meeting, Mar 20, 2026, at 09:00 Tokyo Standard Time. Location: auditorium, 359, bangudae-ro, ulju-gun, ulsan South Korea New Risk • Mar 03
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩141.3b (US$95.5m) 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 (0.8x net interest cover). Earnings have declined by 3.1% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (₩141.3b market cap, or US$95.5m). Upcoming Dividend • Dec 22
Upcoming dividend of ₩120 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 03 April 2026. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.7%. Lower than top quartile of South Korean dividend payers (3.6%). Lower than average of industry peers (2.4%). New Risk • Nov 24
New major risk - Revenue and earnings growth Earnings have declined by 3.2% 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 (0.8x net interest cover). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 3.2% per year over the past 5 years. Minor Risk Paying a dividend despite being loss-making. Declared Dividend • Nov 08
Dividend of ₩120 announced Shareholders will receive a dividend of ₩120. Ex-date: 29th December 2025 Payment date: 3rd April 2026 Dividend yield will be 2.3%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. New Risk • Oct 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 11% 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 Interest payments are not well covered by earnings (1.0x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). 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. New Risk • May 29
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.6% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.3x net interest cover). 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. Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Market cap is less than US$100m (₩125.2b market cap, or US$90.6m). New Risk • May 18
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 (1.6x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. 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 (0.7% net profit margin). Market cap is less than US$100m (₩124.9b market cap, or US$89.3m). New Risk • Apr 08
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 8.6% 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: Major Risk Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.6% average weekly change). Profit margins are more than 30% lower than last year (0.7% net profit margin). Market cap is less than US$100m (₩118.5b market cap, or US$80.5m). Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₩5,000, the stock trades at a trailing P/E ratio of 24.9x. Average trailing P/E is 10x in the Metals and Mining industry in South Korea. Total loss to shareholders of 45% over the past three years. Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: ₩216 (vs ₩1,455 in FY 2023) Full year 2024 results: EPS: ₩216 (down from ₩1,455 in FY 2023). Revenue: ₩801.4b (down 6.5% from FY 2023). Net income: ₩5.52b (down 86% from FY 2023). Profit margin: 0.7% (down from 4.5% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 25% per year. Announcement • Mar 08
Kumkang Kind Co., Ltd., Annual General Meeting, Mar 21, 2025 Kumkang Kind Co., Ltd., Annual General Meeting, Mar 21, 2025, at 09:01 Tokyo Standard Time. Location: auditorium, 359, bangu-daero, ulju-gun, ulsan South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩120 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 07 April 2025. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of South Korean dividend payers (3.9%). In line with average of industry peers (2.9%). Declared Dividend • Nov 23
Dividend of ₩120 announced Shareholders will receive a dividend of ₩120. Ex-date: 27th December 2024 Payment date: 7th April 2025 Dividend yield will be 2.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (26% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 56 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 53% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: ₩77.00 (vs ₩838 in 3Q 2023) Third quarter 2024 results: EPS: ₩77.00 (down from ₩838 in 3Q 2023). Revenue: ₩193.7b (down 8.2% from 3Q 2023). Net loss: ₩696.3m (down 105% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. New Risk • Jul 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩137.9b (US$100.0m) 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 Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 5x cash flows per share). Profit margins are more than 30% lower than last year (4.2% net profit margin). Market cap is less than US$100m (₩137.9b market cap, or US$100.0m). Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: ₩1,455 (vs ₩1,953 in FY 2022) Full year 2023 results: EPS: ₩1,455 (down from ₩1,953 in FY 2022). Revenue: ₩856.9b (up 18% from FY 2022). Net income: ₩38.3b (down 26% from FY 2022). Profit margin: 4.5% (down from 7.1% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 20
Upcoming dividend of ₩120 per share at 2.1% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 08 April 2024. Payout ratio is a comfortable 11% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (2.7%). Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩7,540, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 8x in the Metals and Mining industry in South Korea. Total returns to shareholders of 129% over the past three years. New Risk • Jun 26
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 8.2% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.2% average weekly change). Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to ₩7,200, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 8x in the Metals and Mining industry in South Korea. Total returns to shareholders of 126% over the past three years. Reported Earnings • Mar 22
Full year 2022 earnings released: EPS: ₩1,933 (vs ₩762 in FY 2021) Full year 2022 results: EPS: ₩1,933 (up from ₩762 in FY 2021). Revenue: ₩728.9b (up 28% from FY 2021). Net income: ₩50.9b (up 156% from FY 2021). Profit margin: 7.0% (up from 3.5% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 124% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 21
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 10 April 2023. Payout ratio is a comfortable 4.6% but the company is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (4.4%). Reported Earnings • Nov 20
Third quarter 2022 earnings released: EPS: ₩1,464 (vs ₩325 in 3Q 2021) Third quarter 2022 results: EPS: ₩1,464 (up from ₩325 in 3Q 2021). Revenue: ₩177.6b (up 22% from 3Q 2021). Net income: ₩38.6b (up 356% from 3Q 2021). Profit margin: 22% (up from 5.8% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 126% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 1 independent director (4 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: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₩5,240, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 4x in the Metals and Mining industry in South Korea. Total returns to shareholders of 36% over the past three years. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 1 independent director (4 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: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Dec 22
Upcoming dividend of ₩40.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 11 April 2022. Payout ratio is a comfortable 41% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (2.3%). Is New 90 Day High Low • Mar 08
New 90-day low: ₩4,700 The company is down 2.0% from its price of ₩4,775 on 08 December 2020. The South Korean market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 14% over the same period. Is New 90 Day High Low • Dec 29
New 90-day high: ₩5,310 The company is up 34% from its price of ₩3,975 on 29 September 2020. The South Korean market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 29% over the same period. Is New 90 Day High Low • Dec 11
New 90-day high: ₩4,940 The company is up 33% from its price of ₩3,715 on 11 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 27% over the same period. Is New 90 Day High Low • Nov 18
New 90-day high: ₩4,535 The company is up 30% from its price of ₩3,500 on 20 August 2020. The South Korean market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 9.0% over the same period. Is New 90 Day High Low • Oct 05
New 90-day high: ₩4,130 The company is up 21% from its price of ₩3,420 on 07 July 2020. The South Korean market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 5.0% over the same period.