New Risk • Jun 17
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 14% 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 High level of non-cash earnings (26% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (₩130.5b market cap, or US$86.0m). Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 42% After last week's 42% share price gain to ₩1,775, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 11x in the Pharmaceuticals industry in South Korea. Total loss to shareholders of 32% over the past three years. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩1,384, the stock trades at a trailing P/E ratio of 5.7x. Average trailing P/E is 11x in the Pharmaceuticals industry in South Korea. Total loss to shareholders of 49% over the past three years. Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Independent Outside Director Pil-Gyu Kim was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Mar 20
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 32% 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 (32% accrual ratio). Minor Risk Market cap is less than US$100m (₩107.4b market cap, or US$71.7m). Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₩1,900, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 17x in the Pharmaceuticals industry in South Korea. Total loss to shareholders of 32% over the past three years. Announcement • Feb 11
JW Shinyak Corporation, Annual General Meeting, Mar 26, 2026 JW Shinyak Corporation, Annual General Meeting, Mar 26, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 11-41, simin-daero 327beon-gil, dongan-gu, gyeonggi-do, anyang South Korea New Risk • Jan 20
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 12% 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 Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Market cap is less than US$100m (₩123.5b market cap, or US$83.7m). Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩2,210, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 16x in the Pharmaceuticals industry in South Korea. Total loss to shareholders of 24% over the past three years. New Risk • Dec 17
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 9.0% 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: Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Market cap is less than US$100m (₩114.7b market cap, or US$77.5m). Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩1,892, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 16x in the Pharmaceuticals industry in South Korea. Total loss to shareholders of 39% over the past three years. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩1,601, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 17x in the Pharmaceuticals industry in South Korea. Total loss to shareholders of 61% over the past three years. Reported Earnings • Mar 20
Full year 2024 earnings released: EPS: ₩95.00 (vs ₩702 loss in FY 2023) Full year 2024 results: EPS: ₩95.00 (up from ₩702 loss in FY 2023). Revenue: ₩93.0b (down 11% from FY 2023). Net income: ₩5.08b (up ₩42.4b from FY 2023). Profit margin: 5.5% (up from net loss in FY 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 30% per year whereas the company’s share price has fallen by 29% per year. Announcement • Feb 11
JW Shinyak Corporation, Annual General Meeting, Mar 26, 2025 JW Shinyak Corporation, Annual General Meeting, Mar 26, 2025, at 09:01 Tokyo Standard Time. Location: conference room, 11-41, simin-daero 327beon-gil, dongan-gu, gyeonggi-do, anyang South Korea Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to ₩1,730, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 12x in the Pharmaceuticals industry in South Korea. Total loss to shareholders of 51% over the past three years. New Risk • Nov 26
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% 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 (21% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (₩73.2b market cap, or US$52.4m). Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩1,308, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 14x in the Pharmaceuticals industry in South Korea. Total loss to shareholders of 59% over the past three years. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩1,397, the stock trades at a trailing P/E ratio of 25.1x. Average trailing P/E is 15x in the Pharmaceuticals industry in South Korea. Total loss to shareholders of 59% over the past three years. New Risk • Oct 03
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 9.3% 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: Minor Risks High level of debt (44% net debt to equity). Share price has been volatile over the past 3 months (9.3% average weekly change). Market cap is less than US$100m (₩82.9b market cap, or US$62.2m). Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩2,000, the stock trades at a trailing P/E ratio of 35.9x. Average trailing P/E is 16x in the Pharmaceuticals industry in South Korea. Total loss to shareholders of 46% over the past three years. New Risk • Aug 28
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 44% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (44% net debt to equity). Market cap is less than US$100m (₩85.5b market cap, or US$64.0m). Reported Earnings • Mar 20
Full year 2023 earnings released: ₩774 loss per share (vs ₩30.00 profit in FY 2022) Full year 2023 results: ₩774 loss per share (down from ₩30.00 profit in FY 2022). Revenue: ₩104.2b (up 1.5% from FY 2022). Net loss: ₩37.4b (down ₩38.8b from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: ₩28.00 (vs ₩10.00 in 3Q 2022) Third quarter 2023 results: EPS: ₩28.00 (up from ₩10.00 in 3Q 2022). Revenue: ₩27.8b (up 5.6% from 3Q 2022). Net income: ₩1.35b (up 187% from 3Q 2022). Profit margin: 4.9% (up from 1.8% in 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. New Risk • Aug 30
New major risk - Revenue and earnings growth Earnings have declined by 4.3% 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. This is currently the only risk that has been identified for the company. New Risk • Jul 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩129.4b (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: Minor Risks Profit margins are more than 30% lower than last year (1.0% net profit margin). Market cap is less than US$100m (₩129.4b market cap, or US$98.9m). Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: ₩30.00 (vs ₩20.00 in FY 2021) Full year 2022 results: EPS: ₩30.00 (up from ₩20.00 in FY 2021). Revenue: ₩102.7b (up 1.7% from FY 2021). Net income: ₩1.40b (up 58% from FY 2021). Profit margin: 1.4% (up from 0.9% 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 61% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Insufficient new directors 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. 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: Insufficient board refreshment. Board Change • Apr 27
Insufficient new directors 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. 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: Insufficient board refreshment. Buying Opportunity • Mar 07
Now 21% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be ₩5,320, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% per annum over the last 3 years. Earnings per share has grown by 27% per annum over the last 3 years. Buying Opportunity • Feb 11
Now 21% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be ₩5,320, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% per annum over the last 3 years. Earnings per share has grown by 27% per annum over the last 3 years. Buying Opportunity • Jan 25
Now 23% undervalued Over the last 90 days, the stock is up 7.7%. The fair value is estimated to be ₩5,238, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% per annum over the last 3 years. Earnings per share has grown by 27% per annum over the last 3 years. Is New 90 Day High Low • Feb 20
New 90-day low: ₩5,030 The company is down 7.0% from its price of ₩5,390 on 20 November 2020. The South Korean market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is down 4.0% over the same period. Announcement • Feb 09
JW Shinyak Corporation, Annual General Meeting, Mar 26, 2021 JW Shinyak Corporation, Annual General Meeting, Mar 26, 2021, at 09:00 Korea Standard Time. Is New 90 Day High Low • Feb 04
New 90-day low: ₩5,090 The company is down 1.0% from its price of ₩5,124 on 06 November 2020. The South Korean market is up 27% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is up 4.0% over the same period. Is New 90 Day High Low • Jan 05
New 90-day high: ₩6,050 The company is up 3.0% from its price of ₩5,867 on 07 October 2020. The South Korean market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is up 16% over the same period. Is New 90 Day High Low • Dec 21
New 90-day high: ₩6,290 The company is up 6.0% from its price of ₩5,940 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 Pharmaceuticals industry, which is up 11% over the same period. Is New 90 Day High Low • Oct 30
New 90-day low: ₩5,100 The company is down 8.0% from its price of ₩5,530 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 Pharmaceuticals industry, which is up 1.0% over the same period. 