Announcement • Mar 13
KX Innovation Co., Ltd., Annual General Meeting, Mar 30, 2026 KX Innovation Co., Ltd., Annual General Meeting, Mar 30, 2026, at 10:00 Tokyo Standard Time. Location: seminar room, 1139, cheonho-daero, gangdong-gu, seoul South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩3,000, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 8x in the Media industry in South Korea. Total loss to shareholders of 40% over the past three years. Announcement • Feb 27
KX Innovation Co., Ltd. (KOSDAQ:A122450) signed a stock transfer agreement to acquire 14.01% stake in Korea Cable T.V Chung-Buk System Co., Ltd. (KOSDAQ:A066790) from Green BTS Co., Ltd. and Quantumport Inc. for KRW 8 billion. KX Innovation Co., Ltd. (KOSDAQ:A122450) signed a stock transfer agreement to acquire 14.01% stake in Korea Cable T.V Chung-Buk System Co., Ltd. (KOSDAQ:A066790) from Green BTS Co., Ltd. and Quantumport Inc. for KRW 8 billion on February 26, 2026. A cash consideration of KRW 8 billion valued at KRW 876.5 per share will be paid by KX Innovation Co., Ltd. As part of consideration, KRW 8 billion is paid towards common equity of Korea Cable T.V Chung-Buk System Co., Ltd. KX Innovation Co., Ltd. will pay a KRW 600 million deposit into escrow upon contract signing on February 26, 2026, and the KRW 7.4 billion balance upon completion of debt repayment, share transfer, regulatory approval, and director appointment, with all debts to be settled by April 28, 2026.
The transaction is subject to approval by the Korea Communications Commission. The expected completion of the transaction is April 28, 2026. New Risk • Jan 16
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩146.0b (US$99.1m) 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: Minor Risks Dividend is not well covered by earnings (291% payout ratio). 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$99.1m). New Risk • Nov 28
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: 0.8% Last year net profit margin: 24% 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: Minor Risks Dividend is not well covered by earnings (291% payout ratio). Profit margins are more than 30% lower than last year (0.8% net profit margin). Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩4,950, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 10x in the Media industry in South Korea. Total loss to shareholders of 27% over the past three years. New Risk • Apr 01
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 40% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risk Earnings are forecast to decline by an average of 40% per year for the foreseeable future. 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. Reported Earnings • Mar 22
Full year 2024 earnings released: EPS: ₩1,982 (vs ₩452 in FY 2023) Full year 2024 results: EPS: ₩1,982 (up from ₩452 in FY 2023). Revenue: ₩403.8b (flat on FY 2023). Net income: ₩82.4b (up 339% from FY 2023). Profit margin: 20% (up from 4.7% in FY 2023). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Announcement • Mar 08
KX Innovation Co., Ltd., Annual General Meeting, Mar 26, 2025 KX Innovation Co., Ltd., Annual General Meeting, Mar 26, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 168, sangam-ro, gangdong-gu, seoul South Korea New Risk • Dec 07
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 72% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (72% accrual ratio). Minor Risks Less than 3 years of financial data is available. Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₩131.6b market cap, or US$92.5m). New Risk • Dec 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 222% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: 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 (₩136.2b market cap, or US$97.1m). New Risk • Nov 14
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩138.7b (US$98.7m) 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.4% net profit margin). Market cap is less than US$100m (₩138.7b market cap, or US$98.7m). 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. Announcement • Feb 27
KX Innovation Co., Ltd. (KOSDAQ:A122450) acquired El Media Company(El Media). KX Innovation Co., Ltd. (KOSDAQ:A122450) acquired El Media Company(El Media) on February 26, 2024.KX Innovation Co., Ltd. (KOSDAQ:A122450) completed the acquisition of El Media Company(El Media) on February 26, 2024. Upcoming Dividend • Dec 20
Upcoming dividend of ₩200 per share at 3.8% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 25 April 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of South Korean dividend payers (3.5%). In line with average of industry peers (4.2%). Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩4,400, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 12x in the Media industry in South Korea. Total loss to shareholders of 65% over the past three years. Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: ₩509 (vs ₩891 in FY 2021) Full year 2022 results: EPS: ₩509 (down from ₩891 in FY 2021). Revenue: ₩326.3b (up 13% from FY 2021). Net income: ₩21.3b (down 45% from FY 2021). Profit margin: 6.5% (down from 14% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 15% share price gain to ₩6,000, the stock trades at a trailing P/E ratio of 24.3x. Average trailing P/E is 13x in the Media industry in South Korea. Total returns to shareholders of 135% over the past three years. Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩5,800, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 12x in the Media industry in South Korea. Total returns to shareholders of 129% over the past three years. 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. 7 experienced directors. No highly experienced directors. 2 independent directors (5 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. 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. 7 experienced directors. No highly experienced directors. 2 independent directors (5 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. Buying Opportunity • Feb 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be ₩9,970, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% per annum over the last 3 years. Earnings per share has grown by 86% per annum over the last 3 years. Buying Opportunity • Jan 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be ₩9,551, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% per annum over the last 3 years. Earnings per share has grown by 86% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩7,560, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 14x in the Media industry in South Korea. Total returns to shareholders of 102% over the past three years. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩9,680, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 24x in the Media industry in South Korea. Total returns to shareholders of 175% over the past three years. Announcement • Jul 20
Keystone Dynamic Limited No. 5 completed the acquisition of 18% stake in The Asia Business Daily Co., Ltd. (KOSDAQ:A127710) from KMH Co. Ltd. (KOSDAQ:A122450). Keystone Dynamic Limited No. 5 agreed to acquire 18% stake in The Asia Business Daily Co., Ltd. (KOSDAQ:A127710) from KMH Co. Ltd. (KOSDAQ:A122450) for KRW 23.2 billion on June 25, 2021. Under the terms, Keystone Dynamic will acquire 4.59 million shares and make the down payment of KRW 300 million on June 25, 2021 and the balance after deducting the down payment within August 9, 2021. The transaction is expected to close on August 9, 2021.
Keystone Dynamic Limited No. 5 completed the acquisition of 18% stake in The Asia Business Daily Co., Ltd. (KOSDAQ:A127710) from KMH Co. Ltd. (KOSDAQ:A122450) on July 19, 2021. The remaining balance of the consideration s now being paid. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 21% share price gain to ₩14,050, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 29x in the Media industry in South Korea. Total returns to shareholders of 306% over the past three years. Announcement • Jun 25
KMH Co. Ltd. (KOSDAQ:A122450) announces an Equity Buyback for 3,455,696 shares, for KRW 15,800 million. KMH Co. Ltd. (KOSDAQ:A122450) announces a share repurchase program. Under the offer, the company will repurchase up to 3,455,696 shares for a total cost of KRW 15,800 million. The purpose of the tender offer is to Enhance shareholder value and to provide stability to management rights. The offer will be funded from company's own cash funds. During the tender offer period, if the number of stocks applied for is less than the expected number of stocks, all of the stocks applied for the tender offer will be purchased. The tender offer will expire on July 14, 2021. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₩11,900, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 21x in the Media industry in South Korea. Total returns to shareholders of 247% over the past three years. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improved over the past week After last week's 24% share price gain to ₩12,600, the stock is trading at a trailing P/E ratio of 22x, up from the previous P/E ratio of 17.7x. This compares to an average P/E of 20x in the Media industry in South Korea. Total returns to shareholders over the past three years are 246%. Is New 90 Day High Low • Mar 02
New 90-day low: ₩10,000 The company is down 51% from its price of ₩20,600 on 02 December 2020. The South Korean market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 5.0% over the same period. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improved over the past week After last week's 44% share price gain to ₩26,500, the stock is trading at a trailing P/E ratio of 23.1x, up from the previous P/E ratio of 16.1x. This compares to an average P/E of 19x in the Media industry in South Korea. Total returns to shareholders over the past three years are 262%. Is New 90 Day High Low • Jan 18
New 90-day low: ₩15,500 The company is down 27% from its price of ₩21,350 on 20 October 2020. The South Korean market is up 30% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 7.0% over the same period. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩28,200, the stock is trading at a trailing P/E ratio of 24.6x, down from the previous P/E ratio of 29.8x. This compares to an average P/E of 19x in the Media industry in South Korea. Total returns to shareholders over the past three years are 348%. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩70.00 Per Share Will be paid on the 28th of April to those who are registered shareholders by the 29th of December. The trailing yield of 0.2% is below the top quartile of South Korean dividend payers (2.6%), and is lower than industry peers (2.2%). Is New 90 Day High Low • Dec 18
New 90-day high: ₩36,350 The company is up 167% from its price of ₩13,600 on 18 September 2020. The South Korean market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 5.0% over the same period. Valuation Update With 7 Day Price Move • Dec 09
Market bids up stock over the past week After last week's 21% share price gain to ₩25,000, the stock is trading at a trailing P/E ratio of 21.8x, up from the previous P/E ratio of 18x. This compares to an average P/E of 20x in the Media industry in South Korea. Total returns to shareholders over the past three years are 293%. Valuation Update With 7 Day Price Move • Nov 24
Market pulls back on stock over the past week After last week's 24% share price decline to ₩26,200, the stock is trading at a trailing P/E ratio of 25.9x, down from the previous P/E ratio of 34x. This compares to an average P/E of 18x in the Media industry in South Korea. Total returns to shareholders over the past three years are 293%. Valuation Update With 7 Day Price Move • Nov 12
Market bids up stock over the past week After last week's 18% share price gain to ₩32,100, the stock is trading at a trailing P/E ratio of 31.8x, up from the previous P/E ratio of 26.8x. This compares to an average P/E of 18x in the Media industry in South Korea. Total returns to shareholders over the past three years are 412%. Valuation Update With 7 Day Price Move • Nov 06
Market bids up stock over the past week After last week's 22% share price gain to ₩29,500, the stock is trading at a trailing P/E ratio of 29.2x, up from the previous P/E ratio of 24x. This compares to an average P/E of 19x in the Media industry in South Korea. Total returns to shareholders over the past three years are 387%. Valuation Update With 7 Day Price Move • Nov 02
Market bids up stock over the past week After last week's 24% share price gain to ₩25,950, the stock is trading at a trailing P/E ratio of 25.7x, up from the previous P/E ratio of 20.8x. This compares to an average P/E of 18x in the Media industry in South Korea. Total returns to shareholders over the past three years are 332%. Is New 90 Day High Low • Oct 30
New 90-day high: ₩24,250 The company is up 209% from its price of ₩7,850 on 31 July 2020. The South Korean market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 7.0% over the same period. Is New 90 Day High Low • Oct 14
New 90-day high: ₩17,400 The company is up 135% from its price of ₩7,400 on 16 July 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 14% over the same period. Valuation Update With 7 Day Price Move • Oct 14
Market bids up stock over the past week After last week's 24% share price gain to ₩17,400, the stock is trading at a trailing P/E ratio of 17.2x, up from the previous P/E ratio of 13.9x. This compares to an average P/E of 17x in the Media industry in South Korea. Total returns to shareholders over the past three years are 187%. Announcement • Sep 22
KMH Co. Ltd. announced that it has received KRW 17 billion in funding from TSP Global Co.,Ltd. On September 17, 2020, KMH Co. Ltd. (KOSDAQ:A122450) closed the transaction. On the same date, the company has amended the terms of the transaction. The company has issued series 5 no-guarantee private interest non-separable type bonds for gross proceeds of KRW 17,000,000,000. The bonds will now mature on September 17, 2023. The conversion period for bonds starts from September 17, 2021 and ends on August 17, 2023. Announcement • Sep 04
Keystone Dynamic Limited acquired 3.2% stake in KMH Co. Ltd. (KOSDAQ:A122450) for KRW 6.3 billion. Keystone Dynamic Limited acquired 3.2% stake in KMH Co. Ltd. (KOSDAQ:A122450) for KRW 6.3 billion on August 31, 2020. Under the terms of transaction, Keystone will acquire 0.73 million shares of KMH Co. at KRW 8,700 per share. Transaction was funded from KRW 40.6 billion of Owns funds and KRW 9.1 billion of debt.
Keystone Dynamic Limited completed the acquisition of 3.2% stake in KMH Co. Ltd. (KOSDAQ:A122450) on August 31, 2020.