Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩10,840, the stock trades at a trailing P/E ratio of 19.4x. Average trailing P/E is 26x in the Semiconductor industry in South Korea. Total returns to shareholders of 7.0% over the past three years. New Risk • Jun 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩151.3b (US$97.0m) 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 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 (₩151.3b market cap, or US$97.0m). Valuation Update With 7 Day Price Move • May 29
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩11,390, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 27x in the Semiconductor industry in South Korea. Total returns to shareholders of 15% over the past three years. Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩12,870, the stock trades at a trailing P/E ratio of 21x. Average trailing P/E is 30x in the Semiconductor industry in South Korea. Total returns to shareholders of 40% over the past three years. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩12,160, the stock trades at a trailing P/E ratio of 19.8x. Average trailing P/E is 27x in the Semiconductor industry in South Korea. Total returns to shareholders of 19% over the past three years. Announcement • Mar 13
ABOV Semiconductor Co., Ltd., Annual General Meeting, Mar 26, 2026 ABOV Semiconductor Co., Ltd., Annual General Meeting, Mar 26, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 93, gangni 1-gil, ochang-eup, cheongwon-gu, chungcheongbuk-do, cheongju South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₩9,920, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 22x in the Semiconductor industry in South Korea. Total loss to shareholders of 1.9% over the past three years. Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩13,350, the stock trades at a trailing P/E ratio of 28.4x. Average trailing P/E is 23x in the Semiconductor industry in South Korea. Total returns to shareholders of 34% over the past three years. Announcement • Sep 11
ABOV Semiconductor Co., Ltd. announced that it expects to receive KRW 10 billion in funding ABOV Semiconductor Co., Ltd. announces a private placement to issue 20,000,000 Common Shares at a price of KRW 500 per share for gross proceeds of KRW 10,000,000,000 on September 9, 2025. Expected closing date of the offering is September 18, 2025. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩11,910, the stock trades at a trailing P/E ratio of 28.4x. Average trailing P/E is 14x in the Semiconductor industry in South Korea. Negligible returns to shareholders over past three years. New Risk • Apr 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩146.5b (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 Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 52% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Large one-off items impacting financial results. Market cap is less than US$100m (₩146.5b market cap, or US$99.5m). Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩10,530, the stock trades at a trailing P/E ratio of 65.5x. Average trailing P/E is 14x in the Semiconductor industry in South Korea. Total loss to shareholders of 13% over the past three years. Announcement • Mar 12
ABOV Semiconductor Co., Ltd., Annual General Meeting, Mar 26, 2025 ABOV Semiconductor Co., Ltd., Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 93, gangni 1-gil, ochang-eup, cheongwon-gu, chungcheongbuk-do, cheongju South Korea New Risk • Feb 07
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 13% 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 53% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). New Risk • Nov 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩137.9b (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: Major Risk Earnings have declined by 47% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩137.9b market cap, or US$98.8m). Announcement • Jul 18
Femtosense and ABOV Semiconductor Launches the AI-ADAM-100 Femtosense, in partnership with ABOV Semiconductor, launched the AI-ADAM-100, an artificial intelligence microcontroller unit (AI MCU) built on sparse AI technology to enable on-device AI features such as voice-based control in home appliances and other products. On-device AI provides immediate, no-latency user responses with low power consumption, security, operational stability, and low cost compared to GPUs or cloud-based AI. The AI-ADAM-100 integrates the Femtosense Sparse Processing Unit 001 (SPU-001), a neural processing unit (NPU), and an ABOV Semiconductor MCU to provide deep learning-powered AI voice processing and voice-cleanup capabilities on-device at the edge. With language processing, appliances can implement "say what you mean" voice interfaces that allow users to speak naturally and express their intent freely in multiple ways. On top of the AI-ADAM- 100, Femtosense provides a highly customizable selection of AI-ADAM-100-based AI software application products--from full turnkey solutions to tool-driven applications or full custom implementations using a manufacturer's own AI models, whether dense or sparse. The Sparse AI Advantage Sparse AI reduces the cost of AI inferencing by zeroing-out irrelevant portions of an algorithm and then onlyocating hardware memory and compute resources to the remaining nonzero, relevant portions of the algorithm. A system that stores and computes only nonzero weights can deliver up to a 10x improvement in speed, efficiency, and memory footprint. Specifically, the AI-ADAM-50 enables home appliance manufacturers to implement sophisticated wake-up and control functionality, allowing other system controllers and connectivity modules to drop into sleep mode and consume substantially less power when a user is not interacting with the system. This capability can be used to listen until a user's voice command is received, and then to either process the command on-device or wake the system to send the command to the cloud. Femtosense and ABOV developed the AI-ADAM-300 MCU in strategic collaboration, leveraging the core strengths of each partner. A ABOV has verified AI-ADAM-100's top-notch voice command recognition performance under multiple noise conditions, meeting the requirements of leading customers. Global home appliance makers are working to reduce the number of tons on their devices and streamline the user experience. AI-based voice command can accelerate this trend. Engineering samples of the AI-ADAM -100 are available now with commercial mass production targeted for later this year. Development support includes software tools, evaluation boards, and demo AI models, including Smart Home Appliance Wake-up and Control. Buy Or Sell Opportunity • Jul 05
Now 21% undervalued Over the last 90 days, the stock has risen 4.2% to ₩17,720. The fair value is estimated to be ₩22,331, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Meanwhile, the company became loss making. Upcoming Dividend • Dec 20
Upcoming dividend of ₩200 per share at 1.3% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 29 April 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.0%). New Risk • Nov 30
New major risk - Revenue and earnings growth Earnings have declined by 5.7% 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 Debt is not well covered by operating cash flow (5.3% operating cash flow to total debt). 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. Earnings have declined by 5.7% per year over the past 5 years. New Risk • Oct 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩132.8b (US$98.7m) 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 (0.6x 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 Risk Market cap is less than US$100m (₩132.8b market cap, or US$98.7m). New Risk • Jun 12
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 110% The company is paying a dividend despite having no free cash flows. Dividend yield: 1.9% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough 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. 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Payout ratio: 110% Paying a dividend despite having no free cash flows. High level of non-cash earnings (25% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (1.2% net profit margin). Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: ₩770 (vs ₩828 in FY 2021) Full year 2022 results: EPS: ₩770 (down from ₩828 in FY 2021). Revenue: ₩242.6b (up 45% from FY 2021). Net income: ₩12.4b (down 9.2% from FY 2021). Profit margin: 5.1% (down from 8.2% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Dec 21
Upcoming dividend of ₩240 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 17 April 2023. Payout ratio is a comfortable 17% but the company is paying out more than the cash it is generating. Trailing yield: 2.7%. Lower than top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩10,000, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 9x in the Semiconductor industry in South Korea. Total returns to shareholders of 84% over the past three years. Buying Opportunity • Aug 23
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be ₩15,360, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 11%. Announcement • Aug 19
ABOV Semiconductor Co., Ltd. announced that it expects to receive KRW 3.49999 billion in funding from Samsung Venture Investment Corporation ABOV Semiconductor Co., Ltd. announced a private placement of 321,100 common shares at a price of KRW 10,900 per share for gross proceeds of KRW 3,499,990,000 on August 17, 2022. The transaction will include participation from new investor SVIC No.56 New Technology Business Investment Fund, a fund managed by Samsung Venture Investment Corporation. The company will issue the securities through third party allotment. The transaction is expected to close on August 25, 2022. The transaction has been approved by the board of directors of the company. All the securities issued in the transaction will subject to hold period of one year. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improved over the past week After last week's 27% share price gain to ₩13,350, the stock trades at a trailing P/E ratio of 12.4x. Average trailing P/E is 10x in the Semiconductor industry in South Korea. Total returns to shareholders of 112% over the past three years. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₩9,210, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 10x in the Semiconductor industry in South Korea. Total returns to shareholders of 30% over the past three years. Buying Opportunity • Jun 13
Now 23% undervalued Over the last 90 days, the stock is up 4.3%. The fair value is estimated to be ₩15,602, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 11%. Announcement • Apr 15
ABOV Semiconductor Co., Ltd. (KOSDAQ:A102120) announces an Equity Buyback for KRW 5,000 million worth of its shares. ABOV Semiconductor Co., Ltd. (KOSDAQ:A102120) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its own shares pursuant to a contract with Korea Investment & Securities Co., Ltd. The purpose behind the program is to enhance shareholder value. The repurchase program will expire on October 17, 2022. As of April 13, 2022, the company had 908,835 treasury shares within scope available for dividend and 2 shares in treasury through other repurchase. Upcoming Dividend • Dec 22
Upcoming dividend of ₩240 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 06 April 2022. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 1.7%. 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 • Nov 30
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₩12,000, the stock trades at a trailing P/E ratio of 24.1x. Average trailing P/E is 17x in the Semiconductor industry in South Korea. Total returns to shareholders of 165% over the past three years. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improved over the past week After last week's 32% share price gain to ₩17,550, the stock trades at a trailing P/E ratio of 20.6x. Average trailing P/E is 25x in the Semiconductor industry in South Korea. Total returns to shareholders of 210% over the past three years. Reported Earnings • Mar 17
Full year 2020 earnings released: EPS ₩850 (vs ₩815 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: ₩144.2b (up 14% from FY 2019). Net income: ₩14.0b (up 5.0% from FY 2019). Profit margin: 9.7% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩11,850, the stock is trading at a trailing P/E ratio of 9.1x, down from the previous P/E ratio of 10.8x. This compares to an average P/E of 20x in the Semiconductor industry in South Korea. Total returns to shareholders over the past three years are 81%. Is New 90 Day High Low • Mar 08
New 90-day low: ₩12,550 The company is down 6.0% from its price of ₩13,400 on 08 December 2020. The South Korean market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 17% over the same period. Is New 90 Day High Low • Dec 29
New 90-day high: ₩17,700 The company is up 69% from its price of ₩10,500 on 29 September 2020. The South Korean market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 27% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩200 Per Share Will be paid on the 1st of April to those who are registered shareholders by the 29th of December. The trailing yield of 1.3% is below the top quartile of South Korean dividend payers (2.6%), but it is higher than industry peers (0.8%). Valuation Update With 7 Day Price Move • Dec 08
Market bids up stock over the past week After last week's 20% share price gain to ₩13,400, the stock is trading at a trailing P/E ratio of 10.3x, up from the previous P/E ratio of 8.6x. This compares to an average P/E of 19x in the Semiconductor industry in South Korea. Total returns to shareholders over the past three years are 84%. Is New 90 Day High Low • Dec 03
New 90-day high: ₩11,900 The company is up 18% from its price of ₩10,050 on 04 September 2020. The South Korean market is up 11% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 25% over the same period. Is New 90 Day High Low • Oct 30
New 90-day low: ₩9,430 The company is down 10.0% from its price of ₩10,500 on 31 July 2020. The South Korean market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is down 3.0% over the same period.