New Risk • May 28
New major risk - Revenue and earnings growth Earnings have declined by 24% 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 24% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩59.3b market cap, or US$39.5m). Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩6,280, the stock trades at a trailing P/E ratio of 17.8x. Average trailing P/E is 16x in the IT industry in South Korea. Total returns to shareholders of 37% over the past three years. Announcement • Feb 27
UANGEL Corporation, Annual General Meeting, Mar 27, 2026 UANGEL Corporation, Annual General Meeting, Mar 27, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 322, yanghyeon-ro, bundang-gu, gyeonggi-do, seongnam South Korea Reported Earnings • Nov 20
Third quarter 2025 earnings released: EPS: ₩198 (vs ₩92.00 in 3Q 2024) Third quarter 2025 results: EPS: ₩198 (up from ₩92.00 in 3Q 2024). Revenue: ₩14.5b (up 27% from 3Q 2024). Net income: ₩2.45b (up 122% from 3Q 2024). Profit margin: 17% (up from 9.6% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. New Risk • Aug 30
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended September 2013. 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 Risk Latest financial reports are more than 1 year old (reported September 2013 fiscal period end). Minor Risk Market cap is less than US$100m (₩67.6b market cap, or US$48.8m). Reported Earnings • Aug 20
Second quarter 2025 earnings released: ₩2.00 loss per share (vs ₩94.00 profit in 2Q 2024) Second quarter 2025 results: ₩2.00 loss per share (down from ₩94.00 profit in 2Q 2024). Revenue: ₩14.2b (up 31% from 2Q 2024). Net loss: ₩24.7m (down 102% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 02
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩5,980, the stock trades at a trailing P/E ratio of 23.2x. Average trailing P/E is 14x in the IT industry in South Korea. Total returns to shareholders of 35% over the past three years. Announcement • Feb 28
UANGEL Corporation, Annual General Meeting, Mar 28, 2025 UANGEL Corporation, Annual General Meeting, Mar 28, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 322, yanghyeon-ro, bundang-gu, gyeonggi-do, seongnam South Korea New Risk • Feb 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor 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: Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (₩72.0b market cap, or US$50.3m). Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩4,540, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 16x in the IT industry in South Korea. Total loss to shareholders of 6.8% over the past three years. New Risk • Jan 03
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 9.7% 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: Minor Risks Share price has been volatile over the past 3 months (9.7% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₩55.8b market cap, or US$38.0m). Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to ₩5,450, the stock trades at a trailing P/E ratio of 18.4x. Average trailing P/E is 16x in the IT industry in South Korea. Total returns to shareholders of 3.8% over the past three years. New Risk • Dec 07
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended September 2013. 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 Risk Latest financial reports are more than 1 year old (reported September 2013 fiscal period end). Minor Risk Market cap is less than US$100m (₩59.8b market cap, or US$42.0m). Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩4,250, the stock trades at a trailing P/E ratio of 24x. Average trailing P/E is 15x in the IT industry in South Korea. Total loss to shareholders of 22% over the past three years. New Risk • Mar 28
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.9% Last year net profit margin: 7.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.9% net profit margin). Market cap is less than US$100m (₩43.0b market cap, or US$31.9m). Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩4,725, the stock trades at a trailing P/E ratio of 19.2x. Average trailing P/E is 18x in the IT industry in South Korea. Total returns to shareholders of 56% over the past three years. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩5,580, the stock trades at a trailing P/E ratio of 67.9x. Average trailing P/E is 27x in the IT industry in South Korea. Total returns to shareholders of 43% over the past three years. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 41% After last week's 41% share price gain to ₩6,280, the stock trades at a trailing P/E ratio of 76.5x. Average trailing P/E is 27x in the IT industry in South Korea. Total returns to shareholders of 22% over the past three years. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₩4,240, the stock trades at a trailing P/E ratio of 51.6x. Average trailing P/E is 19x in the IT industry in South Korea. Total loss to shareholders of 8.0% 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. 5 experienced directors. No highly experienced directors. 1 independent director (4 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 16% share price decline to ₩3,470, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 16x in the IT industry in South Korea. Total loss to shareholders of 28% 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. 5 experienced directors. No highly experienced directors. 1 independent director (4 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 • Jan 27
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩4,220, the stock trades at a trailing P/E ratio of 3x. Average trailing P/E is 17x in the IT industry in South Korea. Total returns to shareholders of 8.2% over the past three years. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩4,660, the stock trades at a trailing P/E ratio of 74.5x. Average trailing P/E is 25x in the IT industry in South Korea. Total returns to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improved over the past week After last week's 20% share price gain to ₩4,970, the stock trades at a trailing P/E ratio of 79.5x. Average trailing P/E is 24x in the IT industry in South Korea. Total returns to shareholders of 33% over the past three years. Announcement • Mar 11
UANGEL Corporation, Annual General Meeting, Mar 26, 2021 UANGEL Corporation, Annual General Meeting, Mar 26, 2021, at 09:00 Korea Standard Time. Is New 90 Day High Low • Feb 24
New 90-day low: ₩3,710 The company is down 14% from its price of ₩4,295 on 26 November 2020. The South Korean market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 16% over the same period. Is New 90 Day High Low • Jan 15
New 90-day low: ₩3,935 The company is down 14% from its price of ₩4,565 on 16 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 IT industry, which is up 20% over the same period. Is New 90 Day High Low • Dec 28
New 90-day low: ₩3,940 The company is down 9.0% from its price of ₩4,335 on 29 September 2020. The South Korean market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 8.0% over the same period. Is New 90 Day High Low • Dec 08
New 90-day low: ₩3,960 The company is down 2.0% from its price of ₩4,025 on 09 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 7.0% over the same period. Is New 90 Day High Low • Oct 13
New 90-day high: ₩4,980 The company is up 40% from its price of ₩3,555 on 15 July 2020. The South Korean market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 5.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day high: ₩4,695 The company is up 58% from its price of ₩2,970 on 25 June 2020. The South Korean market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 4.0% over the same period.