Announcement • Mar 07
LS Networks Corporation Limited, Annual General Meeting, Mar 26, 2026 LS Networks Corporation Limited, Annual General Meeting, Mar 26, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 92, hangang-daero, yongsan-gu, seoul South Korea Reported Earnings • Aug 20
Second quarter 2025 earnings released: EPS: ₩163 (vs ₩41.00 in 2Q 2024) Second quarter 2025 results: EPS: ₩163 (up from ₩41.00 in 2Q 2024). Revenue: ₩549.2b (up 10% from 2Q 2024). Net income: ₩12.8b (up 300% from 2Q 2024). Profit margin: 2.3% (up from 0.6% in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 133 percentage points per year, which is a significant difference in performance. New Risk • Aug 20
New major risk - Revenue and earnings growth Earnings have declined by 13% 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 Less than 1 year of cash runway based on free cash flow trend (-₩933b free cash flow). Earnings have declined by 13% per year over the past 5 years. Announcement • Mar 13
LS Networks Corporation Limited, Annual General Meeting, Mar 27, 2025 LS Networks Corporation Limited, Annual General Meeting, Mar 27, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 92, hangang-daero, yongsan-gu, seoul South Korea New Risk • Jan 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 11% 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. 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 Shareholders have been diluted in the past year (7.2% increase in shares outstanding). New Risk • Jun 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 7.2% 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. This is currently the only risk that has been identified for the company. New Risk • May 28
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. Reported Earnings • Mar 26
Full year 2023 earnings released: EPS: ₩145 (vs ₩33.00 loss in FY 2022) Full year 2023 results: EPS: ₩145 (up from ₩33.00 loss in FY 2022). Revenue: ₩379.6b (up 4.6% from FY 2022). Net income: ₩10.7b (up ₩13.1b from FY 2022). Profit margin: 2.8% (up from net loss in FY 2022). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to ₩4,510, the stock trades at a trailing P/E ratio of 79.9x. Average trailing P/E is 19x in the Specialty Retail industry in South Korea. Total returns to shareholders of 73% over the past three years. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩5,560, the stock trades at a trailing P/E ratio of 67.6x. Average trailing P/E is 19x in the Specialty Retail industry in South Korea. Total returns to shareholders of 175% over the past three years. New Risk • Jul 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 9.5% 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 Interest payments are not well covered by earnings (0.5x net interest cover). Minor Risks Share price has been volatile over the past 3 months (9.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.7% net profit margin). Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₩3,545, the stock trades at a trailing P/E ratio of 43.1x. Average trailing P/E is 20x in the Specialty Retail industry in South Korea. Total returns to shareholders of 55% over the past three years. Reported Earnings • Mar 19
Full year 2022 earnings released: ₩33.00 loss per share (vs ₩818 profit in FY 2021) Full year 2022 results: ₩33.00 loss per share (down from ₩818 profit in FY 2021). Revenue: ₩362.9b (down 7.1% from FY 2021). Net loss: ₩2.40b (down 104% from profit in FY 2021). Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
No independent 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. No independent directors (6 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: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Aug 20
Second quarter 2022 earnings released: EPS: ₩79.00 (vs ₩284 in 2Q 2021) Second quarter 2022 results: EPS: ₩79.00 (down from ₩284 in 2Q 2021). Revenue: ₩98.5b (down 2.8% from 2Q 2021). Net income: ₩5.78b (down 72% from 2Q 2021). Profit margin: 5.9% (down from 21% in 2Q 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩2,440, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 13x in the Specialty Retail industry in South Korea. Total loss to shareholders of 27% over the past three years. Reported Earnings • May 22
First quarter 2022 earnings released: EPS: ₩90.00 (vs ₩240 in 1Q 2021) First quarter 2022 results: EPS: ₩90.00 (down from ₩240 in 1Q 2021). Revenue: ₩84.0b (down 7.3% from 1Q 2021). Net income: ₩6.60b (down 63% from 1Q 2021). Profit margin: 7.9% (down from 19% in 1Q 2021). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
No independent 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. No independent directors (6 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: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improved over the past week After last week's 18% share price gain to ₩3,690, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 7x in the Specialty Retail industry in South Korea. Total returns to shareholders of 29% over the past three years. Reported Earnings • Mar 21
Full year 2020 earnings released: ₩336 loss per share (vs ₩942 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: ₩334.9b (down 17% from FY 2019). Net loss: ₩24.7b (loss narrowed 64% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 88% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Feb 10
LS Networks Corporation Limited, Annual General Meeting, Mar 30, 2021 LS Networks Corporation Limited, Annual General Meeting, Mar 30, 2021, at 10:00 Korea Standard Time. Location: Mir Hall, 2F, LS Yongsan Tower, 92, Hangang-daero, Yongsan-gu Seoul South Korea Is New 90 Day High Low • Dec 08
New 90-day high: ₩2,500 The company is up 14% from its price of ₩2,200 on 09 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 5.0% over the same period.