New Risk • Apr 04
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₩13b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩13b free cash flow). Share price has been highly volatile over the past 3 months (23% average weekly change). Earnings have declined by 18% per year over the past 5 years. Market cap is less than US$10m (₩5.48b market cap, or US$3.63m). Board Change • Mar 19
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. 6 experienced directors. No highly experienced directors. 2 independent directors (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. Announcement • Feb 28
KD Corporation, Annual General Meeting, Mar 31, 2026 KD Corporation, Annual General Meeting, Mar 31, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 127, beobwon-ro, songpa-gu, seoul South Korea New Risk • Jan 26
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩11.4b (US$7.88m) This is considered a major 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 Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 2.2% per year over the past 5 years. Market cap is less than US$10m (₩11.4b market cap, or US$7.88m). Announcement • Dec 11
KD Corporation has withdrawn its Follow-on Equity Offering in the amount of KRW 10.332 billion. KD Corporation has withdrawn its Follow-on Equity Offering in the amount of KRW 10.332 billion.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 18,000,000
Price\Range: KRW 574
Discount Per Security: KRW 11.48
Transaction Features: Rights Offering New Risk • Nov 29
New major risk - Revenue and earnings growth Earnings have declined by 2.2% 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 Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 2.2% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩14.9b market cap, or US$10.2m). New Risk • Nov 21
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩14.4b (US$9.76m) This is considered a major 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 Share price has been highly volatile over the past 3 months (19% average weekly change). Market cap is less than US$10m (₩14.4b market cap, or US$9.76m). Announcement • Oct 02
KD Corporation has filed a Follow-on Equity Offering in the amount of KRW 10.332 billion. KD Corporation has filed a Follow-on Equity Offering in the amount of KRW 10.332 billion.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 18,000,000
Price\Range: KRW 574
Transaction Features: Rights Offering New Risk • Aug 30
New minor risk - Financial data availability Less than 3 years of financial data is available. This is considered a minor risk. If the company has been trading for less than 3 years, then it has not had the opportunity to establish a long-term track record. This makes it difficult for investors to assess the true growth potential, sustainability and resilience of the business under different economic conditions. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risks Less than 3 years of financial data is available. Market cap is less than US$100m (₩17.9b market cap, or US$12.9m). Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩566, the stock trades at a trailing P/E ratio of 47.9x. Average trailing P/E is 16x in the Real Estate industry in Asia. Total loss to shareholders of 43% over the past three years. New Risk • Aug 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩13.5b (US$9.64m) This is considered a major 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 Market cap is less than US$10m (₩13.5b market cap, or US$9.64m). Minor Risks High level of debt (250% net debt to equity). Share price has been volatile over the past 3 months (8.2% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to ₩820, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 12x in the Real Estate industry in South Korea. Total loss to shareholders of 34% over the past three years. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to ₩818, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 15x in the Real Estate industry in Asia. Total loss to shareholders of 36% over the past three years. Announcement • Feb 28
KD Corporation, Annual General Meeting, Mar 28, 2025 KD Corporation, Annual General Meeting, Mar 28, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 127, beobwon-ro, songpa-gu, seoul South Korea New Risk • Jan 15
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩14.5b (US$9.93m) This is considered a major 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 Share price has been highly volatile over the past 3 months (19% average weekly change). Market cap is less than US$10m (₩14.5b market cap, or US$9.93m). 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 9.2% 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 Market cap is less than US$10m (₩12.4b market cap, or US$8.77m). Minor Risk Share price has been volatile over the past 3 months (9.2% average weekly change). Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩415, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 15x in the Real Estate industry in Asia. Total loss to shareholders of 68% over the past three years. New Risk • Aug 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 7.5% 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: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩32b free cash flow). Market cap is less than US$10m (₩12.2b market cap, or US$8.97m). Minor Risk Shareholders have been diluted in the past year (7.5% increase in shares outstanding). New Risk • May 31
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩13.8b (US$9.98m) This is considered a major 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 Less than 1 year of cash runway based on free cash flow trend (-₩32b free cash flow). Market cap is less than US$10m (₩13.8b market cap, or US$9.98m). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). New Risk • May 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₩32b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-₩32b free cash flow). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (₩14.2b market cap, or US$10.4m). Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₩832, the stock trades at a trailing P/E ratio of 3x. Average trailing P/E is 14x in the Real Estate industry in Asia. Total loss to shareholders of 11% over the past three years. New Risk • Dec 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 7.5% 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: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Shareholders have been diluted in the past year (7.5% increase in shares outstanding). Market cap is less than US$100m (₩19.0b market cap, or US$14.7m). Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₩705, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 13x in the Real Estate industry in South Korea. Total loss to shareholders of 29% over the past year. 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. 6 experienced directors. No highly experienced directors. 2 independent directors (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. 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. 6 experienced directors. No highly experienced directors. 2 independent directors (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 • Mar 11
Investor sentiment improved over the past week After last week's 23% share price gain to ₩1,260, the stock trades at a trailing P/E ratio of 27.2x. Average trailing P/E is 12x in the Real Estate industry in South Korea. Total loss to shareholders of 45% over the past three years. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improved over the past week After last week's 16% share price gain to ₩1,355, the stock trades at a trailing P/E ratio of 25.6x. Average trailing P/E is 12x in the Real Estate industry in South Korea. Total loss to shareholders of 45% over the past three years. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩1,630, the stock trades at a trailing P/E ratio of 27.6x. Average trailing P/E is 12x in the Real Estate industry in South Korea. Total loss to shareholders of 33% over the past three years. Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improved over the past week After last week's 26% share price gain to ₩2,330, the stock trades at a trailing P/E ratio of 38.5x. Average trailing P/E is 10x in the Real Estate industry in South Korea. Total loss to shareholders of 24% over the past three years. Is New 90 Day High Low • Feb 17
New 90-day low: ₩998 The company is down 26% from its price of ₩1,355 on 19 November 2020. The South Korean market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 6.0% over the same period. Is New 90 Day High Low • Jan 28
New 90-day low: ₩1,180 The company is down 1.0% from its price of ₩1,190 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 Real Estate industry, which is up 16% over the same period.