New Risk • Dec 23
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 375% Dividend yield: 1.1% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.7x net interest cover). Share price has been highly volatile over the past 3 months (31% average weekly change). Minor Risks Less than 3 years of financial data is available. Dividend is not well covered by earnings (375% payout ratio). Profit margins are more than 30% lower than last year (0.05% net profit margin). Reported Earnings • Nov 19
Third quarter 2025 earnings released: EPS: ₩156 (vs ₩10.23 loss in 3Q 2024) Third quarter 2025 results: EPS: ₩156 (up from ₩10.23 loss in 3Q 2024). Revenue: ₩617.7b (up 5.7% from 3Q 2024). Net income: ₩4.98b (up ₩5.45b from 3Q 2024). Profit margin: 0.8% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. New Risk • Sep 11
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 Risks Interest payments are not well covered by earnings (1.1x net interest cover). Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Less than 3 years of financial data is available. Paying a dividend despite being loss-making. Reported Earnings • Aug 20
Second quarter 2025 earnings released: EPS: ₩76.46 (vs ₩129 in 2Q 2024) Second quarter 2025 results: EPS: ₩76.46 (down from ₩129 in 2Q 2024). Revenue: ₩590.3b (up 5.6% from 2Q 2024). Net income: ₩2.40b (down 20% from 2Q 2024). Profit margin: 0.4% (down from 0.5% in 2Q 2024). New Risk • Apr 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩145.8b (US$99.6m) 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 Risks Interest payments are not well covered by earnings (0.9x net interest cover). Share price has been highly volatile over the past 3 months (17% average weekly change). Revenue has declined by 6.0% over the past year. Minor Risks Less than 3 years of financial data is available. Paying a dividend despite being loss-making. Market cap is less than US$100m (₩145.8b market cap, or US$99.6m). Announcement • Feb 19
Kolon Mobility Group Corporation, Annual General Meeting, Mar 26, 2025 Kolon Mobility Group Corporation, Annual General Meeting, Mar 26, 2025, at 09:01 Tokyo Standard Time. Location: conference room, 132, ogeum-ro, songpa-gu, seoul South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩40.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 24 April 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (3.0%). New Risk • Dec 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 9.9% 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 Risks Interest payments are not well covered by earnings (1.1x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (9.9% average weekly change). New Risk • Nov 11
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩135.3b (US$96.9m) 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: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Less than 3 years of financial data is available. Market cap is less than US$100m (₩135.3b market cap, or US$96.9m). Buy Or Sell Opportunity • Oct 21
Now 20% overvalued Over the last 90 days, the stock has fallen 16% to ₩2,355. The fair value is estimated to be ₩1,955, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Buy Or Sell Opportunity • Oct 04
Now 25% overvalued Over the last 90 days, the stock has fallen 13% to ₩2,450. The fair value is estimated to be ₩1,967, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩2,370, the stock trades at a trailing P/E ratio of 58x. Average trailing P/E is 15x in the Specialty Retail industry in South Korea. Total loss to shareholders of 37% over the past year. Buy Or Sell Opportunity • May 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 22% to ₩3,155. The fair value is estimated to be ₩3,950, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buy Or Sell Opportunity • May 10
Now 21% undervalued Over the last 90 days, the stock has risen 3.0% to ₩3,255. The fair value is estimated to be ₩4,097, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buy Or Sell Opportunity • Apr 08
Now 21% undervalued Over the last 90 days, the stock has risen 8.4% to ₩3,285. The fair value is estimated to be ₩4,159, however this is not to be taken as a buy recommendation but rather should be used as a guide only. New Risk • Jan 30
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 9.8% 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 No financial data reported. Minor Risk Share price has been volatile over the past 3 months (9.8% average weekly change). Announcement • Sep 18
Kolon Mobility Group Corporation(KOSE:A450140) dropped from S&P Global BMI Index Kolon Mobility Group Corporation(KOSE:A450140) dropped from S&P Global BMI Index 
