Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩5,050, the stock trades at a trailing P/E ratio of 21.2x. Average trailing P/E is 14x in the Software industry in South Korea. Total returns to shareholders of 15% over the past three years. New Risk • May 18
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩149.7b (US$99.7m) 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 (2.1x net interest cover). Earnings have declined by 34% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (₩149.7b market cap, or US$99.7m). Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩8,170, the stock trades at a trailing P/E ratio of 26.2x. Average trailing P/E is 15x in the Software industry in South Korea. Total returns to shareholders of 94% over the past three years. New Risk • Apr 20
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 16% 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 Interest payments are not well covered by earnings (2.1x net interest cover). Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 34% per year over the past 5 years. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩5,350, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 15x in the Software industry in South Korea. Total returns to shareholders of 12% over the past three years. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩5,230, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 16x in the Software industry in South Korea. Total loss to shareholders of 3.1% over the past three years. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to ₩3,970, the stock trades at a trailing P/E ratio of 31.1x. Average trailing P/E is 16x in the Software industry in South Korea. Total loss to shareholders of 30% over the past three years. Announcement • Feb 24
HancomWITH Inc., Annual General Meeting, Mar 26, 2026 HancomWITH Inc., Annual General Meeting, Mar 26, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 49, daewangpangyo-ro 644beon-gil, bundang-gu, gyeonggi-do, seongnam South Korea New Risk • Jan 27
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 12% 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 63% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment improves as stock rises 40% After last week's 40% share price gain to ₩6,330, the stock trades at a trailing P/E ratio of 49.6x. Average trailing P/E is 16x in the Software industry in South Korea. Total loss to shareholders of 5.8% over the past three years. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩4,495, the stock trades at a trailing P/E ratio of 35.2x. Average trailing P/E is 15x in the Software industry in South Korea. Total returns to shareholders of 33% over the past three years. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ₩134 (vs ₩44.58 in 3Q 2024) Third quarter 2025 results: EPS: ₩134 (up from ₩44.58 in 3Q 2024). Revenue: ₩150.5b (up 28% from 3Q 2024). Net income: ₩3.37b (up 205% from 3Q 2024). Profit margin: 2.2% (up from 0.9% in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. New Risk • Aug 31
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.1x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 71% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₩112.5b market cap, or US$81.1m). New Risk • Jul 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 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 72% 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 (₩121.4b market cap, or US$88.8m). Announcement • Feb 22
HancomWITH Inc., Annual General Meeting, Mar 27, 2025 HancomWITH Inc., Annual General Meeting, Mar 27, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 49, daewangpangyo-ro 644beon-gil, bundang-gu, gyeonggi-do, seongnam South Korea New Risk • Nov 14
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 Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 51% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩76.9b market cap, or US$54.7m). New Risk • Sep 05
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 51% 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 (₩74.4b market cap, or US$55.7m). New Risk • Jan 19
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 8.7% 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 15% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (₩106.6b market cap, or US$80.0m). New Risk • Aug 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 88% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 10% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.7% net profit margin). Market cap is less than US$100m (₩89.1b market cap, or US$67.3m). Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩3,045, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 16x in the Software industry in South Korea. Total loss to shareholders of 17% over the past three years. Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₩3,605, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 17x in the Software industry in South Korea. Total returns to shareholders of 2.0% over the past three years. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to ₩6,870, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 16x in the Software industry in South Korea. Total returns to shareholders of 139% over the past three years. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 20% share price gain to ₩4,140, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 13x in the Software industry in South Korea. Total returns to shareholders of 44% over the past three years. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. 1 independent director (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: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₩5,980, the stock trades at a trailing P/E ratio of 26.7x. Average trailing P/E is 18x in the Software industry in South Korea. Total returns to shareholders of 82% over the past three years. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. 1 independent director (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: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 16% share price gain to ₩8,940, the stock trades at a trailing P/E ratio of 23.9x. Average trailing P/E is 24x in the Software industry in South Korea. Total returns to shareholders of 210% over the past three years. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improved over the past week After last week's 19% share price gain to ₩10,950, the stock trades at a trailing P/E ratio of 35.7x. Average trailing P/E is 24x in the Software industry in South Korea. Total returns to shareholders of 116% over the past three years. Announcement • Mar 05
Hancom WITH Inc. announced that it expects to receive KRW 13 billion in funding from Rivendell Investments 2018-2 LLC Hancom Secure Inc. (KOSDAQ:A054920) announced a private placement of 5th non-guaranteed exchangeable bonds with bearer interest for gross proceeds of KRW 13,000,000,000 on March 3, 2021. The transaction will involve participation from Gadget Holdings Limited for KRW 11,930,000,000, and Rivendell Investments 2018-2 LLC for KRW 1,070,000,000. The bonds will carry coupon and have a yield to maturity of 3% each. The bonds will be fully convertible into 1,465,118 shares of the company at a price of KRW 8,873 per share between the period starting January 1, 2023 and ending March 19, 2029. The maturity date for the bonds is March 19, 2029. The subscription date is March 5, 2021and payment date for the bonds is March 19, 2021. The transaction has been approved by the board of directors of the company. Announcement • Feb 19
Hancom WITH Inc., Annual General Meeting, Mar 24, 2021 Hancom WITH Inc., Annual General Meeting, Mar 24, 2021, at 09:00 Korea Standard Time. Is New 90 Day High Low • Feb 04
New 90-day high: ₩9,870 The company is up 80% from its price of ₩5,470 on 06 November 2020. The South Korean market is up 27% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 10.0% over the same period. Is New 90 Day High Low • Jan 20
New 90-day high: ₩8,420 The company is up 53% from its price of ₩5,500 on 22 October 2020. The South Korean market is up 28% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 11% over the same period. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improved over the past week After last week's 27% share price gain to ₩8,050, the stock is trading at a trailing P/E ratio of 4.8x, up from the previous P/E ratio of 3.8x. This compares to an average P/E of 23x in the Software industry in South Korea. Total returns to shareholders over the past three years are 130%. Is New 90 Day High Low • Dec 28
New 90-day high: ₩6,300 The company is up 33% from its price of ₩4,740 on 29 September 2020. The South Korean market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 5.0% over the same period. Is New 90 Day High Low • Nov 30
New 90-day high: ₩6,050 The company is up 29% from its price of ₩4,690 on 01 September 2020. The South Korean market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 3.0% over the same period. Valuation Update With 7 Day Price Move • Oct 14
Market bids up stock over the past week After last week's 17% share price gain to ₩5,800, the stock is trading at a trailing P/E ratio of 3.6x, up from the previous P/E ratio of 3.1x. This compares to an average P/E of 25x in the Software industry in South Korea. Total returns to shareholders over the past three years are 95%. Is New 90 Day High Low • Oct 12
New 90-day high: ₩5,100 The company is up 44% from its price of ₩3,550 on 14 July 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 11% over the same period.