New Risk • May 11
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended March 2025. 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 Risks Latest financial reports are more than 1 year old (reported March 2025 fiscal period end). Revenue has declined by 4.1% over the past year. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (₩130.2b market cap, or US$88.3m). Announcement • Mar 07
Alphachips, Inc., Annual General Meeting, Mar 24, 2026 Alphachips, Inc., Annual General Meeting, Mar 24, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 22, daewangpangyo-ro 712beon-gil, bundang-gu, gyeonggi-do, seongnam South Korea New Risk • Jan 15
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 Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 15% per year over the past 5 years. Shareholders have been substantially diluted in the past year (67% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). Market cap is less than US$100m (₩89.4b market cap, or US$60.8m). New Risk • Nov 25
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2025. This is considered a minor 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. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 15% per year over the past 5 years. Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (₩55.9b market cap, or US$37.9m). New Risk • Nov 06
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 Risks Earnings have declined by 15% per year over the past 5 years. Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (9.8% average weekly change). Market cap is less than US$100m (₩55.7b market cap, or US$38.5m). Announcement • Oct 24
Alphachips, Inc. announced that it expects to receive KRW 3.40000374 billion in funding from Fostec Co., Ltd., Gencore Technology Co.,Ltd, Innotec Co. Ltd Alphachips, Inc. announces a private placement with Fostec Co., Ltd, Gencore Technology Co.,Ltd and Innotec Co., Ltd. to issue 522,274 Common Shares at a price of KRW 6,510 for gross proceeds of KRW 3,400,003,740 on October 23, 2025. Expected closing date of the Notes is October 31, 2025. Board Change • Aug 06
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Outside Director SeonWoo Lee was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 22
Full year 2024 earnings released: ₩213 loss per share (vs ₩647 loss in FY 2023) Full year 2024 results: ₩213 loss per share (improved from ₩647 loss in FY 2023). Revenue: ₩85.3b (up 6.8% from FY 2023). Net loss: ₩8.43b (loss narrowed 63% from FY 2023). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. New Risk • Mar 17
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% 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 Shares are highly illiquid. Earnings have declined by 29% per year over the past 5 years. Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩73.0b market cap, or US$50.4m). Announcement • Mar 05
Alpha Holdings, Inc., Annual General Meeting, Mar 25, 2025 Alpha Holdings, Inc., Annual General Meeting, Mar 25, 2025, at 09:00 Tokyo Standard Time. Location: seminar room, 22, daewangpangyo-ro 712beon-gil, bundang-gu, gyeonggi-do, seongnam South Korea Announcement • Feb 20
Fostec Co., Ltd. and Ensnet Co., Ltd. completed the acquisition of 6.71% stake in Alpha Holdings, Inc. (KOSDAQ:A117670) from Premier Bio Corporation. Fostec Co., Ltd. and Ensnet Co., Ltd. agreed to acquire 6.71% stake in Alpha Holdings, Inc. (KOSDAQ:A117670) from Premier Bio Corporation for KRW 16.0 billion on November 29, 2024. A cash consideration will be paid by Fostec Co., Ltd. and Ensnet Co., Ltd. As part of the deal, Fostec Co., Ltd. will acquire 2.52% stake while Ensnet Co., Ltd. will acquire 4.19% stake in Alpha Holdings, Inc. The deal is expected to be completed on March 16, 2025.
Fostec Co., Ltd. and Ensnet Co., Ltd. completed the acquisition of 6.71% stake in Alpha Holdings, Inc. (KOSDAQ:A117670) from Premier Bio Corporation on February 18, 2025. Board Change • Feb 11
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. 3 experienced directors. No highly experienced directors. No independent directors (3 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. Announcement • Dec 04
Alpha Holdings, Inc. announced that it expects to receive KRW 5.0000005 billion in funding from Force Tech Co., Ltd. and another investor Alpha Holdings, Inc. announced a private placement to issue 9,090,910 common shares at an issue price of KRW 550 per share for the gross proceeds of KRW 5,000,000,500 on December 2, 2024. The transaction will include participation from new inventors ENS NET CO.,LTD. for 7,272,728 shares and Force Tech Co., Ltd. for 1,818,182 shares. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on December 30, 2024. Announcement • Mar 22
Alpha Holdings, Inc. announced that it has received KRW 300.00054 million in funding from Premier Bio Corporation On March 21, 2024, Alpha Holdings, Inc. closed the transaction. Reported Earnings • Apr 17
Full year 2022 earnings released: ₩1,571 loss per share (vs ₩658 loss in FY 2021) Full year 2022 results: ₩1,571 loss per share (further deteriorated from ₩658 loss in FY 2021). Revenue: ₩90.0b (up 21% from FY 2021). Net loss: ₩39.9b (loss widened 188% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings. 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. 3 experienced directors. No highly experienced directors. No independent directors (3 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. Announcement • Oct 22
Alpha Holdings, Inc. announced that it has received KRW 1.225 billion in funding from Premier Bio Corporation On October 20, 2022, Alpha Holdings, Inc. closed the transaction. 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. 3 experienced directors. No highly experienced directors. No independent directors (3 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 • Mar 19
Full year 2020 earnings released: ₩220 loss per share (vs ₩860 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: ₩64.3b (down 12% from FY 2019). Net loss: ₩3.93b (loss narrowed 66% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 37% per year, which means it is performing significantly worse than earnings. Announcement • Feb 01
Alpha Holdings, Inc. announced that it has received KRW 3 billion in funding from KB Securities Co., Ltd., Investment Arm On February 1, 2021, Alpha Holdings, Inc. (KOSDAQ:A117670) closed the transaction. Is New 90 Day High Low • Jan 07
New 90-day high: ₩5,660 The company is up 22% from its price of ₩4,650 on 08 October 2020. The South Korean market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 40% over the same period. Announcement • Dec 10
Alpha Holdings, Inc. announced that it expects to receive KRW 6 billion in funding from Hansongneotech Co.,Ltd. Alpha Holdings, Inc. (KOSDAQ:A117670) announced a private placement of Series 9 Non-guaranteed private convertible bonds with bearer interest for gorss proceeds of KRW 6,000,000,000 on December 8, 2020. The transaction will include participation from new investor Hansongneotech Co.,Ltd. (KOSDAQ:A226440). The bonds will mature on December 24, 2023. The bonds have a coupon rate of 1% and interest rate to maturity of 3%. The bonds are convertible into 1,192,842 shares at a conversion price of KRW 5,030 per share from December 24, 2022 to November 24, 2023. The payment date is December 24, 2020 and subscription date is December 08, 2020. The transaction has been approved by the board of directors. Is New 90 Day High Low • Oct 26
New 90-day low: ₩4,110 The company is down 13% from its price of ₩4,750 on 28 July 2020. The South Korean market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is flat over the same period. 