Upcoming Dividend • Jul 13
Upcoming dividend of ₩74.00 per share Eligible shareholders must have bought the stock before 20 July 2026. Payment date: 12 August 2026. Trailing yield: 7.4%. Within top quartile of South Korean dividend payers (4.3%). Higher than average of industry peers (1.6%). Upcoming Dividend • Jun 22
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 06 August 2026. Trailing yield: 6.9%. Within top quartile of South Korean dividend payers (4.2%). Higher than average of industry peers (1.4%). New Risk • May 28
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 0% The company is paying a dividend despite having no free cash flows. Dividend yield: 6.7% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Paying a dividend despite having no free cash flows. Earnings have declined by 8.2% per year over the past 5 years. High level of non-cash earnings (21% accrual ratio). Announcement • Mar 06
Chinyang Holdings Corp. has completed a Follow-on Equity Offering in the amount of KRW 18.010593 billion. Chinyang Holdings Corp. has completed a Follow-on Equity Offering in the amount of KRW 18.010593 billion.
Security Name: Equity Shares
Security Type: Common Stock
Securities Offered: 8,004,708
Price\Range: KRW 2250
Discount Per Security: KRW 15.75
Transaction Features: Rights Offering Announcement • Feb 24
Chinyang Holdings Corp., Annual General Meeting, Mar 13, 2026 Chinyang Holdings Corp., Annual General Meeting, Mar 13, 2026, at 08:00 Tokyo Standard Time. Location: auditorium, 42-1, yusangongdan 7-gil, gyeongsangnam-do, yangsan South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 09 April 2026. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 5.9%. Within top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (1.3%). Upcoming Dividend • Jun 20
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 07 August 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 6.1%. Within top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (1.7%). Reported Earnings • Mar 12
Full year 2024 earnings released: EPS: ₩276 (vs ₩675 in FY 2023) Full year 2024 results: EPS: ₩276 (down from ₩675 in FY 2023). Revenue: ₩286.8b (up 5.8% from FY 2023). Net income: ₩15.3b (down 58% from FY 2023). Profit margin: 5.3% (down from 13% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Feb 20
Chinyang Holdings Corp., Annual General Meeting, Mar 14, 2025 Chinyang Holdings Corp., Annual General Meeting, Mar 14, 2025, at 08:00 Tokyo Standard Time. Location: auditorium, 42-1, yusangongdan 7-gil, gyeongsangnam-do, yangsan South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 09 April 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 7.8%. Within top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (2.2%). New Risk • Aug 21
New major risk - Revenue and earnings growth Earnings have declined by 0.3% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 141% Paying a dividend despite having no free cash flows. Earnings have declined by 0.3% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.8% net profit margin). Shareholders have been diluted in the past year (4.4% increase in shares outstanding). New Risk • Jun 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.4% 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: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Shareholders have been diluted in the past year (4.4% increase in shares outstanding). Upcoming Dividend • Jun 20
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 09 August 2024. Payout ratio is on the higher end at 79% but the company is not cash flow positive. Trailing yield: 6.1%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.6%). Reported Earnings • Mar 12
Full year 2023 earnings released: EPS: ₩675 (vs ₩452 in FY 2022) Full year 2023 results: EPS: ₩675 (up from ₩452 in FY 2022). Revenue: ₩271.1b (up 16% from FY 2022). Net income: ₩36.1b (up 48% from FY 2022). Profit margin: 13% (up from 10% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Buying Opportunity • Jan 15
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.0%. The fair value is estimated to be ₩3,950, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Dec 27
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.2%. The fair value is estimated to be ₩4,022, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Meanwhile, the company became loss making. Upcoming Dividend • Dec 20
Upcoming dividend of ₩150 per share at 7.5% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 05 April 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 7.5%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.8%). Buying Opportunity • Nov 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.3%. The fair value is estimated to be ₩4,033, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has declined by 8.5%. Upcoming Dividend • Jun 22
Upcoming dividend of ₩50.00 per share at 6.0% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 10 August 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 6.0%. Within top quartile of South Korean dividend payers (3.2%). Higher than average of industry peers (1.5%). Reported Earnings • Mar 12
Full year 2022 earnings released: EPS: ₩452 (vs ₩183 in FY 2021) Full year 2022 results: EPS: ₩452 (up from ₩183 in FY 2021). Revenue: ₩234.6b (up 4.3% from FY 2021). Net income: ₩24.5b (up 145% from FY 2021). Profit margin: 10% (up from 4.4% in FY 2021). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 21
Upcoming dividend of ₩120 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 06 April 2023. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 5.3%. Within top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (2.4%). 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. 5 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 • Jun 22
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 11 August 2022. Payout ratio is a comfortable 13% but the company is paying out more than the cash it is generating. Trailing yield: 4.3%. Within top quartile of South Korean dividend payers (3.2%). Higher than average of industry peers (2.4%). Announcement • May 26
Chinyang Holdings Corp. (KOSE:A100250) announces an Equity Buyback for KRW 5,000 million worth of its shares. Chinyang Holdings Corp. (KOSE:A100250) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its shares pursuant to a contract with Shinhan Investment Corp. The purpose of the share repurchase is to enhance shareholder value through stock price stabilization and increase efficiency of fund management. The repurchase program will expire on November 25, 2022. As of May 24, 2022, the company had 1,100,000 shares within scope available for dividend and had no shares in treasury through other repurchase. 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. 5 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. Reported Earnings • Mar 13
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₩183 (down from ₩475 in FY 2020). Revenue: ₩224.8b (up 6.3% from FY 2020). Net income: ₩10.0b (down 62% from FY 2020). Profit margin: 4.4% (down from 12% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 22
Upcoming dividend of ₩120 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 07 April 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.6%. Within top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (1.5%). Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩3,680, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 19x in the Chemicals industry in South Korea. Total returns to shareholders of 80% over the past three years. Upcoming Dividend • Jun 23
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 12 August 2021. Trailing yield: 5.1%. Within top quartile of South Korean dividend payers (2.1%). Higher than average of industry peers (1.4%). Reported Earnings • Mar 14
Full year 2020 earnings released: EPS ₩475 (vs ₩276 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ₩211.5b (down 6.1% from FY 2019). Net income: ₩26.0b (up 72% from FY 2019). Profit margin: 12% (up from 6.7% in FY 2019). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Feb 27
Chinyang Holdings Corp., Annual General Meeting, Mar 19, 2021 Chinyang Holdings Corp., Annual General Meeting, Mar 19, 2021, at 08:00 Korea Standard Time. Is New 90 Day High Low • Jan 28
New 90-day low: ₩2,650 The company is down 1.0% from its price of ₩2,690 on 30 October 2020. The South Korean market is up 32% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 34% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩120 Per Share Will be paid on the 8th of April to those who are registered shareholders by the 29th of December. The trailing yield of 6.0% is in the top quartile of South Korean dividend payers (2.6%), and it is higher than industry peers (0.9%). Is New 90 Day High Low • Dec 21
New 90-day high: ₩2,860 The company is up 3.0% from its price of ₩2,780 on 22 September 2020. The South Korean market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 22% over the same period. Is New 90 Day High Low • Nov 12
New 90-day high: ₩2,840 The company is up 17% from its price of ₩2,435 on 14 August 2020. The South Korean market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 4.0% over the same period.