Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩2,860, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 29x in the Semiconductor industry in South Korea. Total loss to shareholders of 61% over the past three years. Announcement • Mar 04
DTC Co., Ltd., Annual General Meeting, Mar 30, 2026 DTC Co., Ltd., Annual General Meeting, Mar 30, 2026, at 11:00 Tokyo Standard Time. Location: conference room, 86-9, 3gongdan 6-ro, seobuk-gu, chungcheongnam-do, cheonan South Korea Buy Or Sell Opportunity • Aug 20
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 2.6% to ₩3,195. The fair value is estimated to be ₩2,631, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 28% over the last 3 years. Earnings per share has declined by 77%. Reported Earnings • Aug 16
Second quarter 2025 earnings released: EPS: ₩10.00 (vs ₩62.00 in 2Q 2024) Second quarter 2025 results: EPS: ₩10.00 (down from ₩62.00 in 2Q 2024). Revenue: ₩40.0b (up ₩37.4b from 2Q 2024). Net income: ₩155.7m (down 84% from 2Q 2024). Profit margin: 0.4% (down from 38% in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. New Risk • May 23
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.3% Last year net profit margin: 11% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 5.9% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.3% net profit margin). Market cap is less than US$100m (₩48.9b market cap, or US$35.6m). Reported Earnings • Mar 13
Full year 2024 earnings released: EPS: ₩138 (vs ₩233 in FY 2023) Full year 2024 results: EPS: ₩138 (down from ₩233 in FY 2023). Revenue: ₩11.9b (down 66% from FY 2023). Net income: ₩2.17b (down 41% from FY 2023). Profit margin: 18% (up from 11% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Announcement • Mar 05
DTC Co., Ltd., Annual General Meeting, Mar 26, 2025 DTC Co., Ltd., Annual General Meeting, Mar 26, 2025, at 11:30 Tokyo Standard Time. Location: conference room, 86-9, 3gongdan 6-ro, seobuk-gu, chungcheongnam-do, cheonan South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 15 April 2025. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (0.8%). Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩2,975, the stock trades at a trailing P/E ratio of 36.6x. Average trailing P/E is 16x in the Semiconductor industry in South Korea. Total loss to shareholders of 55% over the past three years. New Risk • Dec 03
New major risk - Revenue and earnings growth Earnings have declined by 1.2% 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 Risk Earnings have declined by 1.2% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (₩46.4b market cap, or US$33.1m). Announcement • Nov 19
DTC Co., Ltd. (KOSDAQ:A066670) agreed to acquire an additional 19.22% stake in Lumens Co., Ltd. (KOSDAQ:A038060) from Lee Kyung-jae, Kim Soo-yeon and Lumens Holdings, Inc. for KRW 26 billion. DTC Co., Ltd. (KOSDAQ:A066670) agreed to acquire an additional 19.22% stake in Lumens Co., Ltd. (KOSDAQ:A038060) from Lee Kyung-jae, Kim Soo-yeon and Lumens Holdings, Inc. for KRW 26 billion on November 18, 2024. A cash consideration of KRW 26 billion will be paid by DTC Co., Ltd. for 9,246,637 shares. The expected completion of the transaction is January 3, 2025. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩3,185, the stock trades at a trailing P/E ratio of 18.4x. Average trailing P/E is 19x in the Semiconductor industry in South Korea. Total loss to shareholders of 56% over the past three years. New Risk • Apr 17
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.0% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₩76.4b market cap, or US$55.3m). Reported Earnings • Mar 15
Full year 2023 earnings released: EPS: ₩233 (vs ₩435 in FY 2022) Full year 2023 results: EPS: ₩233 (down from ₩435 in FY 2022). Revenue: ₩34.6b (down 50% from FY 2022). Net income: ₩3.65b (down 47% from FY 2022). Profit margin: 11% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₩6,610, the stock trades at a trailing P/E ratio of 19.4x. Average trailing P/E is 19x in the Semiconductor industry in South Korea. Total returns to shareholders of 88% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩50.00 per share at 0.8% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 17 April 2024. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (1.0%). Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩5,240, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 14x in the Semiconductor industry in South Korea. Total returns to shareholders of 62% over the past three years. New Risk • Aug 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.3% net profit margin). Market cap is less than US$100m (₩99.1b market cap, or US$74.9m). Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩8,110, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 13x in the Semiconductor industry in South Korea. Total returns to shareholders of 120% over the past three years. Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩6,730, the stock trades at a trailing P/E ratio of 15.5x. Average trailing P/E is 12x in the Semiconductor industry in South Korea. Total returns to shareholders of 133% over the past three years. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩7,620, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 13x in the Semiconductor industry in South Korea. Total returns to shareholders of 174% over the past three years. Reported Earnings • Mar 19
Full year 2022 earnings released: EPS: ₩435 (vs ₩344 in FY 2021) Full year 2022 results: EPS: ₩435 (up from ₩344 in FY 2021). Revenue: ₩69.1b (down 49% from FY 2021). Net income: ₩6.83b (up 26% from FY 2021). Profit margin: 9.9% (up from 4.0% in FY 2021). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩5,510, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 10x in the Semiconductor industry in South Korea. Total returns to shareholders of 92% over the past three years. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to ₩6,480, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 10x in the Semiconductor industry in South Korea. Total returns to shareholders of 91% over the past three years. Upcoming Dividend • Dec 21
Upcoming dividend of ₩80.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 11 April 2023. Payout ratio is a comfortable 9.2% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of South Korean dividend payers (3.3%). In line with average of industry peers (1.8%). 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. 3 experienced directors. No highly experienced directors. 1 independent director (2 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 • Sep 23
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩5,030, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 10x in the Semiconductor industry in South Korea. Total returns to shareholders of 44% over the past three years. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 16% share price gain to ₩5,960, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 11x in the Semiconductor industry in South Korea. Total returns to shareholders of 55% over the past three years. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩6,150, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 12x in the Semiconductor industry in South Korea. Total returns to shareholders of 71% over the past three years. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 16% share price gain to ₩7,920, the stock trades at a trailing P/E ratio of 22.8x. Average trailing P/E is 15x in the Semiconductor industry in South Korea. Total returns to shareholders of 121% over the past three years. 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. 3 experienced directors. No highly experienced directors. 1 independent director (2 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. Upcoming Dividend • Dec 22
Upcoming dividend of ₩80.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 12 April 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.0%. Lower than top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (0.9%). Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment improved over the past week After last week's 54% share price gain to ₩9,170, the stock trades at a trailing P/E ratio of 27.8x. Average trailing P/E is 22x in the Semiconductor industry in South Korea. Total returns to shareholders of 147% over the past three years. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩6,160, the stock trades at a trailing P/E ratio of 18.7x. Average trailing P/E is 22x in the Semiconductor industry in South Korea. Total returns to shareholders of 70% over the past three years. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improved over the past week After last week's 26% share price gain to ₩6,070, the stock trades at a trailing P/E ratio of 18.4x. Average trailing P/E is 22x in the Semiconductor industry in South Korea. Total returns to shareholders of 71% over the past three years. Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment improved over the past week After last week's 26% share price gain to ₩5,040, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 20x in the Semiconductor industry in South Korea. Total returns to shareholders of 40% over the past three years. Announcement • Feb 20
Display Tech Co., Ltd., Annual General Meeting, Mar 30, 2021 Display Tech Co., Ltd., Annual General Meeting, Mar 30, 2021, at 09:00 Korea Standard Time. Is New 90 Day High Low • Feb 06
New 90-day high: ₩4,605 The company is up 34% from its price of ₩3,430 on 06 November 2020. The South Korean market is up 27% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 39% over the same period. Is New 90 Day High Low • Jan 20
New 90-day high: ₩4,000 The company is up 19% from its price of ₩3,375 on 22 October 2020. The South Korean market is up 28% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 44% over the same period. Is New 90 Day High Low • Jan 04
New 90-day high: ₩3,910 The company is up 14% from its price of ₩3,420 on 06 October 2020. The South Korean market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 32% over the same period. Is New 90 Day High Low • Dec 18
New 90-day high: ₩3,825 The company is up 10.0% from its price of ₩3,490 on 18 September 2020. The South Korean market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 29% over the same period. Is New 90 Day High Low • Oct 14
New 90-day high: ₩3,620 The company is up 12% from its price of ₩3,240 on 16 July 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 8.0% over the same period.