Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩23,000, the stock trades at a trailing P/E ratio of 4.2x. Average trailing P/E is 12x in the Entertainment industry in South Korea. Total loss to shareholders of 12% over the past three years. Announcement • May 18
NEOWIZ HOLDINGS Corporation (KOSDAQ:A042420) announces an Equity Buyback for KRW 10,000 million worth of its shares. NEOWIZ HOLDINGS Corporation (KOSDAQ:A042420) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its shares. The purpose of the program is to enhance shareholder value. The repurchased shares will be cancelled or retired. The program will expire on November 17, 2026. As of May 18, 2026, the company had 1,865,927 shares in treasury within scope available for dividend and had 35,298 shares in treasury under other acquisitions. Announcement • Mar 07
NEOWIZ HOLDINGS Corporation, Annual General Meeting, Mar 27, 2026 NEOWIZ HOLDINGS Corporation, Annual General Meeting, Mar 27, 2026, at 08:00 Tokyo Standard Time. Location: conference room, 12, daewangpangyo-ro 645beon-gil, bundang-gu, gyeonggi-do, seongnam South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₩22,400, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 13x in the Entertainment industry in South Korea. Total loss to shareholders of 31% over the past three years. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩29,400, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 15x in the Entertainment industry in South Korea. Negligible returns to shareholders over past three years. New Risk • Jan 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩145.6b (US$98.9m) 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 Risk Earnings have declined by 39% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₩145.6b market cap, or US$98.9m). Upcoming Dividend • Dec 22
Upcoming dividend of ₩313 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 06 April 2026. Payout ratio is a comfortable 7.5% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (0.6%). Declared Dividend • Nov 08
Dividend of ₩313 announced Dividend of ₩313 is the same as last year. Ex-date: 29th December 2025 Payment date: 6th April 2026 Dividend yield will be 1.3%, which is lower than the industry average of 2.0%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has increased by an average of 17% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 66% to shift the payout ratio to a potentially unsustainable range, which is more than the 20% EPS decline seen over the last 5 years. Announcement • Nov 07
NEOWIZ HOLDINGS Corporation announces Annual dividend, payable on April 06, 2026 NEOWIZ HOLDINGS Corporation announced Annual dividend of KRW 313.0000 per share payable on April 06, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. New Risk • Oct 10
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩140.4b (US$98.8m) 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 Earnings have declined by 44% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (₩140.4b market cap, or US$98.8m). New Risk • Aug 15
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 7.9% 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 Earnings have declined by 44% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (7.9% average weekly change). Buy Or Sell Opportunity • Jul 23
Now 22% undervalued Over the last 90 days, the stock has risen 27% to ₩25,900. The fair value is estimated to be ₩33,087, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jul 04
Now 21% undervalued Over the last 90 days, the stock has risen 34% to ₩26,050. The fair value is estimated to be ₩32,925, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company became loss making. New Risk • Apr 10
New minor risk - Dividend sustainability The dividend is not well covered by earnings. The company is paying a dividend despite being loss-making. Dividend yield: 1.6% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings 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. However, this risk is mitigated by the fact the dividend is covered by cash flows. 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 Risk Earnings have declined by 41% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (₩118.9b market cap, or US$81.5m). Announcement • Mar 13
NEOWIZ HOLDINGS Corporation, Annual General Meeting, Mar 27, 2025 NEOWIZ HOLDINGS Corporation, Annual General Meeting, Mar 27, 2025, at 08:00 Tokyo Standard Time. Location: conference room, 12, daewangpangyo-ro 645beon-gil, bundang-gu, gyeonggi-do, seongnam South Korea Announcement • Mar 12
NEOWIZ HOLDINGS Corporation (KOSDAQ:A042420) announces an Equity Buyback for 310,559 shares, representing 14.79% for KRW 5,000 million. NEOWIZ HOLDINGS Corporation (KOSDAQ:A042420) announces a share repurchase program. Under the program, the company will repurchase up to 310,559 shares, representing 14.79% for KRW 5,000 million worth of its shares, pursuant to a contract with Samsung Securities Co., Ltd. The purpose of the program is shareholder value upliftment. The program will expire on September 12, 2025. As of March 11, 2025, the company had 2,099,927 shares in treasury within scope available for dividend and had 111,166 shares in treasury under other acquisitions. New Risk • Dec 07
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended September 2013. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risk Latest financial reports are more than 1 year old (reported September 2013 fiscal period end). Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). New Risk • Dec 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 9.8% 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 Risk Earnings have declined by 39% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (9.8% average weekly change). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩14,590, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 20x in the Entertainment industry in South Korea. Total loss to shareholders of 52% over the past three years. New Risk • Apr 12
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩135.8b (US$98.3m) 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 Earnings have declined by 33% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩135.8b market cap, or US$98.3m). New Risk • Dec 04
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 9.1% 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 Earnings have declined by 30% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (9.1% average weekly change). Announcement • Jul 14
NEOWIZ HOLDINGS Corporation (KOSDAQ:A042420) announces an Equity Buyback for KRW 10,000 million worth of its shares. NEOWIZ HOLDINGS Corporation (KOSDAQ:A042420) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its shares, pursuant to a contract with Samsung Securities Co., Ltd. The purpose of the program is shareholder value upliftment. The program will expire on January 15, 2024. As of July 12, 2023, the company had 1,707,586 shares in treasury within scope available for dividend and had 111,166 shares in treasury under other acquisitions. Upcoming Dividend • Dec 21
Upcoming dividend of ₩692 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 05 April 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.7%. Lower than top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (1.2%). 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. 4 experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Outside Director Son Gye-Ryong was the last independent director to join the board, commencing their role in 2008. 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 • May 26
Investor sentiment improved over the past week After last week's 19% share price gain to ₩36,150, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 15x in the Entertainment industry in South Korea. Total returns to shareholders of 186% 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. 4 experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Outside Director Son Gye-Ryong was the last independent director to join the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buying Opportunity • Apr 11
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 38%. The fair value is estimated to be ₩62,033, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.3% over the last 3 years. Earnings per share has grown by 56%. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improved over the past week After last week's 17% share price gain to ₩57,900, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 30x in the Entertainment industry in South Korea. Total returns to shareholders of 312% over the past three years. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₩48,350, the stock trades at a trailing P/E ratio of 5.7x. Average trailing P/E is 31x in the Entertainment industry in South Korea. Total returns to shareholders of 269% over the past three years. Announcement • Feb 08
NEOWIZ HOLDINGS Corporation (KOSDAQ:A042420) announces an Equity Buyback for KRW 10,000 million worth of its shares. NEOWIZ HOLDINGS Corporation (KOSDAQ:A042420) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its own shares pursuant to a contract with NH Investment & Securities Co., Ltd. The purpose behind the program is to improve shareholder value and to stabilize stock price. The repurchase program will expire on August 8, 2022. As of February 6, 2022, the company had 678,878 treasury shares within scope available for dividend and 118,711 shares in treasury through other repurchase. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improved over the past week After last week's 17% share price gain to ₩81,500, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 37x in the Entertainment industry in South Korea. Total returns to shareholders of 627% over the past three years. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improved over the past week After last week's 27% share price gain to ₩73,600, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 39x in the Entertainment industry in South Korea. Total returns to shareholders of 586% over the past three years. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment deteriorated over the past week After last week's 22% share price decline to ₩64,000, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 40x in the Entertainment industry in South Korea. Total returns to shareholders of 497% over the past three years. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improved over the past week After last week's 44% share price gain to ₩73,900, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 51x in the Entertainment industry in South Korea. Total returns to shareholders of 553% over the past three years. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improved over the past week After last week's 32% share price gain to ₩40,250, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 41x in the Entertainment industry in South Korea. Total returns to shareholders of 274% over the past three years. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment improved over the past week After last week's 21% share price gain to ₩28,500, the stock trades at a trailing P/E ratio of 2x. Average trailing P/E is 44x in the Entertainment industry in South Korea. Total returns to shareholders of 153% over the past three years. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improved over the past week After last week's 16% share price gain to ₩34,050, the stock trades at a trailing P/E ratio of 3.2x. Average trailing P/E is 41x in the Entertainment industry in South Korea. Total returns to shareholders of 160% over the past three years. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩39,750, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 31x in the Entertainment industry in South Korea. Total returns to shareholders of 171% over the past three years. Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩34,750, the stock trades at a trailing P/E ratio of 5.1x. Average trailing P/E is 34x in the Entertainment industry in South Korea. Total returns to shareholders of 132% over the past three years. Announcement • Mar 11
NEOWIZ HOLDINGS Corporation, Annual General Meeting, Mar 25, 2021 NEOWIZ HOLDINGS Corporation, Annual General Meeting, Mar 25, 2021, at 09:00 Korea Standard Time. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improved over the past week After last week's 16% share price gain to ₩34,600, the stock is trading at a trailing P/E ratio of 6.1x, up from the previous P/E ratio of 5.3x. This compares to an average P/E of 25x in the Entertainment industry in South Korea. Total returns to shareholders over the past three years are 171%. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improved over the past week After last week's 40% share price gain to ₩26,350, the stock is trading at a trailing P/E ratio of 4.7x, up from the previous P/E ratio of 3.3x. This compares to an average P/E of 26x in the Entertainment industry in South Korea. Total returns to shareholders over the past three years are 101%. Is New 90 Day High Low • Feb 20
New 90-day high: ₩26,350 The company is up 59% from its price of ₩16,600 on 20 November 2020. The South Korean market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is up 19% over the same period. Is New 90 Day High Low • Feb 03
New 90-day high: ₩17,900 The company is up 8.0% from its price of ₩16,650 on 05 November 2020. The South Korean market is up 28% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 24% over the same period. Is New 90 Day High Low • Jan 14
New 90-day high: ₩17,400 The company is up 5.0% from its price of ₩16,600 on 16 October 2020. The South Korean market is up 31% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 8.0% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩123 Per Share Will be paid on the 6th of April to those who are registered shareholders by the 29th of December. The trailing yield of 0.8% is below the top quartile of South Korean dividend payers (2.6%), but is in line with industry peers (0.7%). Is New 90 Day High Low • Oct 30
New 90-day low: ₩15,400 The company is down 5.0% from its price of ₩16,150 on 31 July 2020. The South Korean market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 2.0% over the same period. 
