Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩3,915, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 16x in the Retail Distributors industry in Asia. Total loss to shareholders of 53% over the past three years. New Risk • Apr 09
New major risk - Revenue and earnings growth Earnings have declined by 43% 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 Earnings have declined by 43% per year over the past 5 years. High level of non-cash earnings (22% accrual ratio). Minor Risk Market cap is less than US$100m (₩100.4b market cap, or US$67.9m). New Risk • Apr 03
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% 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 (22% accrual ratio). Minor Risk Market cap is less than US$100m (₩94.0b market cap, or US$62.3m). Announcement • Mar 17
CHUNGDAMGLOBAL Co., Ltd., Annual General Meeting, Mar 31, 2026 CHUNGDAMGLOBAL Co., Ltd., Annual General Meeting, Mar 31, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 30, gukjegeumyung-ro 6-gil, yeongdeungpo-gu, seoul South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩4,590, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 13x in the Retail Distributors industry in Asia. Total loss to shareholders of 59% over the past three years. Announcement • Feb 13
CHUNGDAMGLOBAL Co., Ltd. announced that it has received KRW 32.8 billion in funding from NH Investment & Securities Co., Ltd., Korea Investment & Securities Co., Ltd., Samsung Securities Co.,Ltd., KB Securities Co., Ltd., Shinhan Securities Co. Ltd., Mirae Asset Securities Co., Ltd. On February 12, 2026, CHUNGDAMGLOBAL Co., Ltd closed the transaction. New Risk • Nov 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩141.1b (US$97.5m) 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 Share price has been volatile over the past 3 months (9.6% average weekly change). Market cap is less than US$100m (₩141.1b market cap, or US$97.5m). New Risk • Aug 15
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 11% 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. This is currently the only risk that has been identified for the company. New Risk • Jul 16
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 10% 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. This is currently the only risk that has been identified for the company. Announcement • Mar 15
CHUNGDAMGLOBAL Co., Ltd., Annual General Meeting, Mar 31, 2025 CHUNGDAMGLOBAL Co., Ltd., Annual General Meeting, Mar 31, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 6, yeouidaebang-ro 65-gil, yeongdeungpo-gu, seoul South Korea Buy Or Sell Opportunity • Jan 17
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.1% to ₩6,390. The fair value is estimated to be ₩8,438, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company became loss making. Announcement • Dec 05
CHUNGDAMGLOBAL Co., Ltd. (KOSDAQ:A362320) announces an Equity Buyback for KRW 2,000 million worth of its shares. CHUNGDAMGLOBAL Co., Ltd. (KOSDAQ:A362320) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 worth of its common stock, pursuant to a contract with KB Securities Co., Ltd. The purpose of the program is to enhance shareholder value. The program will expire on June 5, 2025. As of December 4, 2024, the company had 427,754 shares in treasury within scope available for dividend and had no shares in treasury under other acquisitions. New Risk • Nov 14
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 8.5% 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 28% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Market cap is less than US$100m (₩100.2b market cap, or US$71.4m). New Risk • Aug 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩136.6b (US$99.5m) 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 20% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.5% average weekly change). Market cap is less than US$100m (₩136.6b market cap, or US$99.5m). 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 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 20% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.9% average weekly change). New Risk • Jun 07
New major risk - Revenue and earnings growth Earnings have declined by 20% 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. Reported Earnings • Mar 26
Full year 2023 earnings released: ₩115 loss per share (vs ₩252 profit in FY 2022) Full year 2023 results: ₩115 loss per share (down from ₩252 profit in FY 2022). Revenue: ₩237.8b (up 9.9% from FY 2022). Net loss: ₩2.35b (down 151% from profit in FY 2022). Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩6,830, the stock trades at a trailing P/E ratio of 75.9x. Average trailing P/E is 16x in the Retail Distributors industry in South Korea. Total loss to shareholders of 24% over the past year. New Risk • Oct 26
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: Minor Risks Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (9.1% average weekly change). Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (₩134.2b market cap, or US$98.8m). Announcement • Oct 14
CHUNGDAMGLOBAL Co., Ltd. (KOSDAQ:A362320) announces an Equity Buyback for KRW 3,000 million worth of its shares. CHUNGDAMGLOBAL Co., Ltd. (KOSDAQ:A362320) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,000 worth of its common stock, pursuant to a contract with KB Securities Co., Ltd. The purpose of the program is to enhance shareholder value. The program will expire on April 13, 2024. As of October 12, 2023, the company had no shares in treasury within scope available for dividend and had no shares in treasury under other acquisitions. New Risk • Oct 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩133.0b (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: Minor Risks Less than 3 years of financial data is available. Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (₩133.0b market cap, or US$98.8m). Valuation Update With 7 Day Price Move • Aug 10
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩8,180, the stock trades at a trailing P/E ratio of 57.5x. Average trailing P/E is 15x in the Retail Distributors industry in Asia. Total loss to shareholders of 22% over the past year. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩8,990, the stock trades at a trailing P/E ratio of 39.7x. Average trailing P/E is 16x in the Retail Distributors industry in Asia.