Announcement • Mar 04
Ram Technology Co., Ltd, Annual General Meeting, Mar 31, 2026 Ram Technology Co., Ltd, Annual General Meeting, Mar 31, 2026, at 09:00 Tokyo Standard Time. Location: conference room, 285, jubuk-ro, yangji-myeon, cheoin-gu, gyeonggi-do, yongin South Korea Reported Earnings • Nov 19
Third quarter 2025 earnings released: ₩35.00 loss per share (vs ₩47.00 loss in 3Q 2024) Third quarter 2025 results: ₩35.00 loss per share (improved from ₩47.00 loss in 3Q 2024). Revenue: ₩10.7b (down 2.8% from 3Q 2024). Net loss: ₩503.2m (loss narrowed 24% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 22
Full year 2024 earnings released: ₩179 loss per share (vs ₩203 loss in FY 2023) Full year 2024 results: ₩179 loss per share (improved from ₩203 loss in FY 2023). Revenue: ₩44.5b (up 3.5% from FY 2023). Net loss: ₩2.56b (loss narrowed 11% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Announcement • Feb 27
Ram Technology Co., Ltd, Annual General Meeting, Mar 26, 2025 Ram Technology Co., Ltd, Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 285, jubuk-ro, yangji-myeon, cheoin-gu, gyeonggi-do, yongin South Korea New Risk • Feb 06
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 14% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 32% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩69.5b market cap, or US$47.9m). New Risk • Jan 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 10% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 32% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (₩58.0b market cap, or US$40.0m). New Risk • Apr 04
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 9.5% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). 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 (9.5% average weekly change). Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Market cap is less than US$100m (₩83.9b market cap, or US$62.4m). Reported Earnings • Mar 22
Full year 2023 earnings released: ₩203 loss per share (vs ₩436 profit in FY 2022) Full year 2023 results: ₩203 loss per share (down from ₩436 profit in FY 2022). Revenue: ₩43.0b (down 36% from FY 2022). Net loss: ₩2.87b (down 147% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. New Risk • Nov 29
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 1.0% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (1.0% operating cash flow to total debt). Minor Risks Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Market cap is less than US$100m (₩72.6b market cap, or US$56.2m). Reported Earnings • Mar 27
Full year 2022 earnings released: EPS: ₩436 (vs ₩237 in FY 2021) Full year 2022 results: EPS: ₩436 (up from ₩237 in FY 2021). Revenue: ₩67.0b (up 38% from FY 2021). Net income: ₩6.06b (up 92% from FY 2021). Profit margin: 9.0% (up from 6.5% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: ₩140 (vs ₩84.65 in 3Q 2021) Third quarter 2022 results: EPS: ₩140 (up from ₩84.65 in 3Q 2021). Revenue: ₩16.9b (up 40% from 3Q 2021). Net income: ₩1.91b (up 94% from 3Q 2021). Profit margin: 11% (up from 8.1% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: ₩140 (vs ₩85.00 in 3Q 2021) Third quarter 2022 results: EPS: ₩140 (up from ₩85.00 in 3Q 2021). Revenue: ₩16.9b (up 40% from 3Q 2021). Net income: ₩1.91b (up 69% from 3Q 2021). Profit margin: 11% (up from 9.3% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improved over the past week After last week's 16% share price gain to ₩8,970, the stock trades at a trailing P/E ratio of 31.4x. Average trailing P/E is 18x in the Semiconductor industry in South Korea. Total returns to shareholders of 167% over the past three years. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improved over the past week After last week's 33% share price gain to ₩8,890, the stock trades at a trailing P/E ratio of 33.4x. Average trailing P/E is 20x in the Semiconductor industry in South Korea. Total returns to shareholders of 161% over the past three years. Reported Earnings • Mar 19
Full year 2020 earnings released: EPS ₩187 (vs ₩276 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ₩42.8b (down 1.5% from FY 2019). Net income: ₩2.49b (down 22% from FY 2019). Profit margin: 5.8% (down from 7.3% in FY 2019). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 26
New 90-day low: ₩6,150 The company is down 12% from its price of ₩6,960 on 27 November 2020. The South Korean market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 36% over the same period. Is New 90 Day High Low • Jan 26
New 90-day high: ₩7,360 The company is up 20% from its price of ₩6,130 on 28 October 2020. The South Korean market is up 36% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 55% over the same period. Is New 90 Day High Low • Jan 06
New 90-day high: ₩7,170 The company is up 8.0% from its price of ₩6,660 on 08 October 2020. The South Korean market is up 24% 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. Is New 90 Day High Low • Oct 19
New 90-day low: ₩6,390 The company is down 18% from its price of ₩7,770 on 21 July 2020. The South Korean market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 4.0% over the same period. Is New 90 Day High Low • Sep 25
New 90-day low: ₩6,410 The company is down 15% from its price of ₩7,550 on 26 June 2020. The South Korean market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 3.0% over the same period.