Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₩4,400, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 15x in the Software industry in South Korea. Total returns to shareholders of 6.0% over the past three years. Announcement • Mar 14
Hunesion Co.,Ltd, Annual General Meeting, Mar 27, 2026 Hunesion Co.,Ltd, Annual General Meeting, Mar 27, 2026, at 10:00 Tokyo Standard Time. Location: lecture hall, 67, godeokbizvalley-ro 2ga-gil, gangdong-gu, seoul South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩40.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 13 April 2026. Payout ratio is a comfortable 7.0% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of South Korean dividend payers (3.6%). Lower than average of industry peers (1.7%). Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: ₩64.00 (vs ₩24.00 loss in 3Q 2024) Third quarter 2025 results: EPS: ₩64.00 (up from ₩24.00 loss in 3Q 2024). Revenue: ₩7.64b (up 18% from 3Q 2024). Net income: ₩594.3m (up ₩820.2m from 3Q 2024). Profit margin: 7.8% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Declared Dividend • Nov 08
Dividend of ₩40.00 announced Dividend of ₩40.00 is the same as last year. Ex-date: 29th December 2025 Payment date: 13th April 2026 Dividend yield will be 1.1%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (8% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 2.3% per year over the past 6 years and payments have been stable during that time. Earnings per share has grown by 19% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Nov 07
Hunesion Co.,Ltd announces Annual dividend, payable on April 13, 2026 Hunesion Co.,Ltd announced Annual dividend of KRW 40.0000 per share payable on April 13, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Reported Earnings • Aug 16
Second quarter 2025 earnings released: EPS: ₩176 (vs ₩176 in 2Q 2024) Second quarter 2025 results: EPS: ₩176 (in line with 2Q 2024). Revenue: ₩10.5b (up 14% from 2Q 2024). Net income: ₩1.62b (down 1.0% from 2Q 2024). Profit margin: 16% (down from 18% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. New Risk • Jul 04
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.1% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Risk Earnings have declined by 1.4% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₩33.4b market cap, or US$24.5m). New Risk • May 31
New major risk - Revenue and earnings growth Earnings have declined by 1.4% 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 Risk Earnings have declined by 1.4% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩32.7b market cap, or US$23.6m). Announcement • Mar 13
Hunesion Co.,Ltd, Annual General Meeting, Mar 27, 2025 Hunesion Co.,Ltd, Annual General Meeting, Mar 27, 2025, at 10:00 Tokyo Standard Time. Location: lecture hall, 67, godeokbizvalley-ro 2ga-gil, gangdong-gu, seoul South Korea Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩3,920, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 15x in the Software industry in South Korea. Total loss to shareholders of 38% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩40.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 14 April 2025. Payout ratio is a comfortable 5.4% but the company is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (1.6%). Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: ₩176 (vs ₩68.00 loss in 2Q 2023) Second quarter 2024 results: EPS: ₩176 (up from ₩68.00 loss in 2Q 2023). Revenue: ₩9.24b (up 25% from 2Q 2023). Net income: ₩1.64b (up ₩2.28b from 2Q 2023). Profit margin: 18% (up from net loss in 2Q 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Jun 26
Hunesion Co.,Ltd (KOSDAQ:A290270) announces an Equity Buyback for KRW 500 million worth of its shares. Hunesion Co.,Ltd (KOSDAQ:A290270) announces a share repurchase program. Under the program, the company will repurchase up to KRW 500 million worth of its shares according to the contract with NH Investment & Securities. The purpose of the program is stock price stability and shareholder value enhancement. The program will expire on June 25, 2025. As of June 25, 2024, the company had 286,006 shares in treasury within the scope available for dividend payable and 0 shares through other acquisition. Upcoming Dividend • Dec 20
Upcoming dividend of ₩40.00 per share at 1.0% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 12 April 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (1.6%). New Risk • Jun 09
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 9.9% 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: Minor Risks Share price has been volatile over the past 3 months (9.9% average weekly change). Market cap is less than US$100m (₩50.5b market cap, or US$39.0m). Upcoming Dividend • Dec 21
Upcoming dividend of ₩40.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 13 April 2023. Payout ratio is a comfortable 2.5% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩3,780, the stock trades at a trailing P/E ratio of 2.5x. Average trailing P/E is 13x in the Software industry in South Korea. Total loss to shareholders of 33% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩40.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 13 April 2022. Payout ratio is a comfortable 9.2% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (1.0%). Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩6,080, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 23x in the Software industry in South Korea. Total loss to shareholders of 5.4% over the past three years. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improved over the past week After last week's 17% share price gain to ₩7,700, the stock trades at a trailing P/E ratio of 16.2x. Average forward P/E is 24x in the Software industry in South Korea. Total returns to shareholders of 56% over the past year. Is New 90 Day High Low • Feb 17
New 90-day high: ₩6,190 The company is up 8.0% from its price of ₩5,720 on 19 November 2020. The South Korean market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 14% over the same period. Is New 90 Day High Low • Jan 22
New 90-day high: ₩5,790 The company is up 4.0% from its price of ₩5,560 on 23 October 2020. The South Korean market is up 32% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 14% over the same period.