New Risk • Mar 25
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 92% This is considered a major 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 Share price has been highly volatile over the past 3 months (21% average weekly change). Shareholders have been substantially diluted in the past year (92% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩58.3b market cap, or US$38.9m). Announcement • Mar 17
S-Energy Co.,Ltd., Annual General Meeting, Mar 31, 2026 S-Energy Co.,Ltd., Annual General Meeting, Mar 31, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 114, beobwon-ro, songpa-gu, seoul South Korea Announcement • Mar 11
S-Energy Co.,Ltd. has completed a Follow-on Equity Offering in the amount of KRW 11.872 billion. S-Energy Co.,Ltd. has completed a Follow-on Equity Offering in the amount of KRW 11.872 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 13,690,534
Price\Range: KRW 848
Discount Per Security: KRW 21.2
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 309,466
Price\Range: KRW 848
Discount Per Security: KRW 21.2
Transaction Features: Rights Offering Announcement • Mar 06
S-Energy Co.,Ltd. has completed a Follow-on Equity Offering in the amount of KRW 11.872 billion. S-Energy Co.,Ltd. has completed a Follow-on Equity Offering in the amount of KRW 11.872 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 14,000,000
Price\Range: KRW 848
Discount Per Security: KRW 21.2
Transaction Features: Rights Offering New Risk • Dec 01
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 8.9% 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: Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (₩26.6b market cap, or US$18.1m). Announcement • Nov 29
S-Energy Co.,Ltd. has filed a Follow-on Equity Offering in the amount of KRW 13.062 billion. S-Energy Co.,Ltd. has filed a Follow-on Equity Offering in the amount of KRW 13.062 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 14,000,000
Price\Range: KRW 933
Transaction Features: Rights Offering New Risk • Aug 30
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended September 2013. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risk Latest financial reports are more than 1 year old (reported September 2013 fiscal period end). Minor Risks Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (₩32.8b market cap, or US$23.6m). New Risk • Jun 05
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% 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 Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 6.2% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (₩37.8b market cap, or US$27.9m). New Risk • Apr 22
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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.1% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (₩39.9b market cap, or US$28.0m). Announcement • Mar 01
S-Energy Co.,Ltd., Annual General Meeting, Mar 31, 2025 S-Energy Co.,Ltd., Annual General Meeting, Mar 31, 2025, at 09:01 Tokyo Standard Time. Location: conference room, 20, pangyoyeok-ro 241beon-gil, bundang-gu, gyeonggi-do, seongnam South Korea New Risk • Dec 16
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 Market cap is less than US$100m (₩26.3b market cap, or US$18.3m). Upcoming Dividend • Dec 22
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 28 April 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (0.9%). Announcement • Feb 22
S-Energy Co.,Ltd., Annual General Meeting, Mar 29, 2021 S-Energy Co.,Ltd., Annual General Meeting, Mar 29, 2021, at 09:00 Korea Standard Time. Location: 20, Pangyoyeok- ro 241beon-gil, Bundang-gu Seongnam-si, Gyeonggi-do (685, Sampyeong-dong, Mirae Asset Venture Tower B1) Gyeonggi-do South Korea Agenda: To consider 20th financial statement; to amend the articles of incorporation; to appoint director; to the compensation limit for directors; and to discuss other matters. Is New 90 Day High Low • Feb 22
New 90-day low: ₩6,800 The company is down 18% from its price of ₩8,290 on 24 November 2020. The South Korean market is up 18% 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 • Jan 29
New 90-day low: ₩7,010 The company is down 8.0% from its price of ₩7,630 on 30 October 2020. The South Korean market is up 33% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 46% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩50.00 Per Share Will be paid on the 21st of April to those who are registered shareholders by the 29th of December. The trailing yield of 0.7% is below the top quartile of South Korean dividend payers (2.6%), and is lower than industry peers (0.8%). 
