New Risk • May 11
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩14.4b (US$9.79m) This is considered a major 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 Earnings have declined by 8.4% per year over the past 5 years. Market cap is less than US$10m (₩14.4b market cap, or US$9.79m). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). New Risk • Apr 30
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 Earnings have declined by 8.4% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (₩21.3b market cap, or US$14.5m). Announcement • Mar 13
Humax Holdings Co., Ltd., Annual General Meeting, Mar 26, 2026 Humax Holdings Co., Ltd., Annual General Meeting, Mar 26, 2026, at 11:00 Tokyo Standard Time. Location: art hall, 216, hwangsaeul-ro, bundang-gu, gyeonggi-do, seongnam South Korea New Risk • Nov 28
New major risk - Revenue and earnings growth Earnings have declined by 2.3% 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 2.3% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩16.8b market cap, or US$11.4m). Announcement • Sep 05
Humax Holdings Co., Ltd. announced that it expects to receive KRW 1 billion in funding from Synergy Asset Management Co., Ltd. Humax Holdings Co., Ltd. announced private placement of Series 11 Zero Coupon Unregistered Unsecured Private Convertible Bonds due September 15, 2029 for gross proceeds of KRW 1,000,000,000 on September 5, 2025. The transaction includes participation from Synergy Asset Management Co., Ltd. for KRW 1,000,000,000. The bonds bear no interest rate and will mature on September 15, 2029. The bonds are 100% convertible into 521,648 shares at a conversion price of KRW 1,917 from September 16, 2025 to August 15, 2029. The transaction has been approved by board of directors of the company. The transaction is expected to close on September 15, 2025. Announcement • Mar 18
Humax Holdings Co., Ltd. announced that it has received KRW 3 billion in funding On March 18, 2025, Humax Holdings Co., Ltd. closed the transaction. Announcement • Mar 13
Humax Holdings Co., Ltd., Annual General Meeting, Mar 27, 2025 Humax Holdings Co., Ltd., Annual General Meeting, Mar 27, 2025, at 11:00 Tokyo Standard Time. Location: conference room, 216, hwangsaeul-ro, bundang-gu, gyeonggi-do, seongnam South Korea New Risk • Dec 16
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 30% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (₩28.8b market cap, or US$20.0m). 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 (₩19.2b market cap, or US$13.5m). New Risk • Aug 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 10.0% 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 23% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10.0% average weekly change). Market cap is less than US$100m (₩35.8b market cap, or US$26.1m). New Risk • Oct 06
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: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (₩62.5b market cap, or US$46.4m). Valuation Update With 7 Day Price Move • May 16
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩6,640, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 14x in the Communications industry in South Korea. Total returns to shareholders of 167% over the past three years. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩7,500, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 14x in the Communications industry in South Korea. Total returns to shareholders of 169% over the past three years. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 45% After last week's 45% share price gain to ₩7,550, the stock trades at a trailing P/E ratio of 23.7x. Average trailing P/E is 14x in the Communications industry in South Korea. Total returns to shareholders of 199% over the past three years. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩5,350, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 14x in the Communications industry in South Korea. Total returns to shareholders of 134% over the past three years. Board Change • Nov 16
No independent directors 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. No independent directors (5 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: Lack of independent directors. Insufficient board refreshment. Board Change • Apr 27
No independent directors 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. No independent directors (5 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: Lack of independent directors. Insufficient board refreshment. Announcement • Mar 12
Humax to Supply Car Sharing Service Platform to iDRIVE in the Middle East Humax has unveiled a new agreement with iDRIVE – Saudi Arabia's first car sharing organisation – for the supply of its RAiDEA total mobility service platform. RAiDEA (powered by Humax affiliated company, Alticast) is an all-in-one mobility service platform that provides an array of services such as B2C, B2B and P2P. This technology is suitable for round trip, one way and free-floating infrastructures, and is designed for vehicles including cars, motorcycles, bikes and electric scooters iDRIVE is the first car sharing service company in Saudi Arabia and has been operating consumer car sharing services since 2018. Through this contract, its existing mobility service platform has been completely replaced with RAiDEA to deliver a more advanced B2C solution. In the future, iDRIVE plans to introduce a new B2B car sharing service. Is New 90 Day High Low • Feb 26
New 90-day low: ₩3,625 The company is down 15% from its price of ₩4,275 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 Communications industry, which is down 1.0% over the same period. Is New 90 Day High Low • Jan 28
New 90-day low: ₩3,880 The company is down 1.0% from its price of ₩3,910 on 30 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 Communications industry, which is up 20% over the same period. Is New 90 Day High Low • Dec 21
New 90-day high: ₩5,040 The company is up 50% from its price of ₩3,350 on 22 September 2020. The South Korean market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Communications industry, which is flat over the same period. Is New 90 Day High Low • Oct 13
New 90-day high: ₩4,840 The company is up 72% from its price of ₩2,810 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 Communications industry, which is up 14% over the same period.