Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩1,722, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 19x in the Semiconductor industry in South Korea. Total loss to shareholders of 67% over the past three years. Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₩1,510, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 22x in the Semiconductor industry in South Korea. Total loss to shareholders of 76% over the past three years. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₩1,687, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 25x in the Semiconductor industry in South Korea. Total loss to shareholders of 74% over the past three years. Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorates as stock falls 28% After last week's 28% share price decline to ₩2,400, the stock trades at a trailing P/E ratio of 20.9x. Average trailing P/E is 28x in the Semiconductor industry in South Korea. Total loss to shareholders of 65% over the past three years. New Risk • May 13
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 High level of non-cash earnings (39% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (₩52.4b market cap, or US$35.2m). Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩2,785, the stock trades at a trailing P/E ratio of 24.2x. Average trailing P/E is 31x in the Semiconductor industry in South Korea. Total loss to shareholders of 56% over the past three years. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩2,695, the stock trades at a trailing P/E ratio of 23.4x. Average trailing P/E is 24x in the Semiconductor industry in South Korea. Total loss to shareholders of 63% over the past three years. Announcement • Mar 17
Shindo Eng. Lab., Ltd., Annual General Meeting, Mar 31, 2026 Shindo Eng. Lab., Ltd., Annual General Meeting, Mar 31, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 21, mayu-ro 238beon-gil, gyeonggi-do, siheung South Korea New Risk • Aug 29
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: ₩6.9b (US$4.9m) This is considered a minor risk. Companies with a small amount of revenue 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 31% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Revenue is less than US$5m (₩6.9b revenue, or US$4.9m). Market cap is less than US$100m (₩25.2b market cap, or US$18.2m). New Risk • Jul 17
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 Risk Earnings have declined by 45% 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 (₩34.3b market cap, or US$24.7m). Announcement • Mar 15
Shindo Eng. Lab., Ltd., Annual General Meeting, Mar 31, 2025 Shindo Eng. Lab., Ltd., Annual General Meeting, Mar 31, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 21, mayu-ro 238beon-gil, gyeonggi-do, siheung 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 (₩37.5b market cap, or US$26.1m). New Risk • Aug 14
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 9.1% 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 62% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.1% average weekly change). Market cap is less than US$100m (₩46.3b market cap, or US$34.2m). New Risk • Mar 25
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 Risk Earnings have declined by 35% 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 (₩70.3b market cap, or US$52.4m). Reported Earnings • Mar 20
Full year 2023 earnings released: ₩213 loss per share (vs ₩26.00 loss in FY 2022) Full year 2023 results: ₩213 loss per share (further deteriorated from ₩26.00 loss in FY 2022). Revenue: ₩20.8b (down 4.9% from FY 2022). Net loss: ₩3.35b (loss widened ₩2.95b from FY 2022). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to ₩5,410, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 10x in the Semiconductor industry in South Korea. Total loss to shareholders of 20% over the past year. Buying Opportunity • Mar 08
Now 25% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be ₩8,405, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buying Opportunity • Feb 06
Now 21% undervalued Over the last 90 days, the stock is up 31%. The fair value is estimated to be ₩8,550, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩7,010, the stock trades at a trailing P/E ratio of 18.8x. Average trailing P/E is 10x in the Semiconductor industry in South Korea. Total loss to shareholders of 5.3% over the past year. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improved over the past week After last week's 20% share price gain to ₩6,360, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 9x in the Semiconductor industry in South Korea. Total loss to shareholders of 24% over the past year. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 16% share price gain to ₩6,650, the stock trades at a trailing P/E ratio of 17.8x. Average trailing P/E is 10x in the Semiconductor industry in South Korea. Total loss to shareholders of 13% over the past year. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improved over the past week After last week's 29% share price gain to ₩6,430, the stock trades at a trailing P/E ratio of 29.6x. Average trailing P/E is 10x in the Semiconductor industry in South Korea. Total loss to shareholders of 12% over the past year. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improved over the past week After last week's 31% share price gain to ₩4,360, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 9x in the Semiconductor industry in South Korea. Total loss to shareholders of 44% over the past year. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩2,980, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 9x in the Semiconductor industry in South Korea. Total loss to shareholders of 63% over the past year. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₩3,610, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 10x in the Semiconductor industry in South Korea. Total loss to shareholders of 54% over the past year. Reported Earnings • Mar 18
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: ₩203 (up from ₩604 loss in FY 2020). Revenue: ₩39.8b (down 4.3% from FY 2020). Net income: ₩1.64b (up ₩6.10b from FY 2020). Profit margin: 4.1% (up from net loss in FY 2020). Revenue missed analyst estimates by 59%. Is New 90 Day High Low • Feb 26
New 90-day low: ₩18,550 The company is down 8.0% from its price of ₩20,100 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 14
New 90-day high: ₩22,450 The company is up 2.0% from its price of ₩22,100 on 16 October 2020. The South Korean market is up 31% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 39% over the same period. Is New 90 Day High Low • Oct 26
New 90-day low: ₩19,500 The company is down 5.0% from its price of ₩20,500 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.