Buy Or Sell Opportunity • Jun 26
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 46% to ₩2,780. The fair value is estimated to be ₩3,551, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.9% over the last 3 years. Earnings per share has grown by 9.9%. Announcement • Mar 04
CoAsia Corporation, Annual General Meeting, Mar 27, 2026 CoAsia Corporation, Annual General Meeting, Mar 27, 2026, at 09:00 Tokyo Standard Time. Location: conference room, 193, namdongseo-ro, namdong-gu, incheon South Korea Buy Or Sell Opportunity • Feb 27
Now 21% undervalued Over the last 90 days, the stock has risen 3.0% to ₩5,480. The fair value is estimated to be ₩6,906, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.1% over the last 3 years. Earnings per share has declined by 11%. Buy Or Sell Opportunity • Feb 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.0% to ₩5,560. The fair value is estimated to be ₩6,965, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.1% over the last 3 years. Earnings per share has declined by 11%. Buy Or Sell Opportunity • Jan 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 30% to ₩5,350. The fair value is estimated to be ₩6,695, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.1% over the last 3 years. Earnings per share has declined by 11%. Buy Or Sell Opportunity • Dec 23
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 24% to ₩5,170. The fair value is estimated to be ₩6,611, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.1% over the last 3 years. Earnings per share has declined by 11%. Buy Or Sell Opportunity • Dec 03
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.5% to ₩5,380. The fair value is estimated to be ₩6,735, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.1% over the last 3 years. Earnings per share has declined by 11%. New Risk • Nov 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩145.1b (US$99.4m) 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 Risk Earnings have declined by 42% 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 (₩145.1b market cap, or US$99.4m). New Risk • Jul 28
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 Risks Less than 1 year of cash runway based on free cash flow trend (-₩42b free cash flow). Earnings have declined by 46% 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 (₩118.9b market cap, or US$85.9m). New Risk • May 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₩42b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩42b free cash flow). Earnings have declined by 46% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩75.0b market cap, or US$54.3m). Announcement • Mar 13
CoAsia Corporation, Annual General Meeting, Mar 27, 2025 CoAsia Corporation, Annual General Meeting, Mar 27, 2025, at 09:01 Tokyo Standard Time. Location: conference room, 193, namdongseo-ro, namdong-gu, incheon South Korea New Risk • Feb 10
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 9.8% 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 47% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.8% average weekly change). Market cap is less than US$100m (₩104.5b market cap, or US$72.1m). New Risk • Jan 04
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 9.3% 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 47% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.3% average weekly change). Shareholders have been diluted in the past year (6.7% increase in shares outstanding). Market cap is less than US$100m (₩109.4b market cap, or US$74.5m). New Risk • Sep 17
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 Risks Share price has been volatile over the past 3 months (9.7% average weekly change). Shareholders have been diluted in the past year (5.9% increase in shares outstanding). Market cap is less than US$100m (₩126.5b market cap, or US$96.2m). New Risk • Sep 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩129.4b (US$97.5m) 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 Risk Earnings have declined by 43% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.7% average weekly change). Shareholders have been diluted in the past year (5.9% increase in shares outstanding). Market cap is less than US$100m (₩129.4b market cap, or US$97.5m). Reported Earnings • May 21
First quarter 2024 earnings released: ₩188 loss per share (vs ₩235 loss in 1Q 2023) First quarter 2024 results: ₩188 loss per share (improved from ₩235 loss in 1Q 2023). Revenue: ₩104.0b (down 2.5% from 1Q 2023). Net loss: ₩4.47b (loss narrowed 15% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. New Risk • Feb 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 8.2% 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 33% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Shareholders have been diluted in the past year (5.1% increase in shares outstanding). New Risk • Oct 31
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩132.3b (US$98.2m) 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 Risk Earnings have declined by 34% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Shareholders have been diluted in the past year (3.6% increase in shares outstanding). Market cap is less than US$100m (₩132.3b market cap, or US$98.2m). New Risk • Oct 21
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.6% 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: Major Risk Earnings have declined by 34% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Shareholders have been diluted in the past year (3.6% increase in shares outstanding). New Risk • Oct 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 8.9% 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: Major Risk Earnings have declined by 34% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.9% average weekly change). Reported Earnings • Mar 27
Full year 2022 earnings released: ₩1,213 loss per share (vs ₩204 loss in FY 2021) Full year 2022 results: ₩1,213 loss per share (further deteriorated from ₩204 loss in FY 2021). Revenue: ₩459.7b (up 21% from FY 2021). Net loss: ₩27.2b (loss widened 495% from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 135 percentage points per year, which is a significant difference in performance. 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. 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. Reported Earnings • May 17
First quarter 2021 earnings released: EPS ₩81.00 (vs ₩84.00 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₩112.8b (up 11% from 1Q 2020). Net income: ₩1.77b (up ₩3.53b from 1Q 2020). Profit margin: 1.6% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 21
Full year 2020 earnings released: ₩330 loss per share (vs ₩534 profit in FY 2019) The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: ₩498.4b (up 14% from FY 2019). Net loss: ₩7.12b (down 166% from profit in FY 2019). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩11,200, the stock is trading at a trailing P/E ratio of 62.1x, down from the previous P/E ratio of 74.8x. This compares to an average P/E of 29x in the Electronic industry in South Korea. Total returns to shareholders over the past three years are 112%. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improved over the past week After last week's 17% share price gain to ₩13,300, the stock is trading at a trailing P/E ratio of 73.7x, up from the previous P/E ratio of 63.2x. This compares to an average P/E of 30x in the Electronic industry in South Korea. Total returns to shareholders over the past three years are 128%. Is New 90 Day High Low • Jan 21
New 90-day high: ₩11,400 The company is up 27% from its price of ₩8,950 on 23 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 Electronic industry, which is up 48% over the same period. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 18% share price gain to ₩9,870, the stock is trading at a trailing P/E ratio of 54.7x, up from the previous P/E ratio of 46.2x. This compares to an average P/E of 28x in the Electronic industry in South Korea. Total returns to shareholders over the past three years are 98%. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improved over the past week After last week's 16% share price gain to ₩9,490, the stock is trading at a trailing P/E ratio of 52.6x, up from the previous P/E ratio of 45.4x. This compares to an average P/E of 28x in the Electronic industry in South Korea. Total returns to shareholders over the past three years are 87%. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩57.69 Per Share Will be paid on the 24th of April to those who are registered shareholders by the 29th of December. The trailing yield of 1.0% is below the top quartile of South Korean dividend payers (2.6%), but it is higher than industry peers (0.5%). Is New 90 Day High Low • Dec 22
New 90-day low: ₩8,310 The company is down 7.0% from its price of ₩8,900 on 23 September 2020. The South Korean market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 17% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS ₩121 The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: ₩172.7b (up 32% from 3Q 2019). Net income: ₩2.56b (down 27% from 3Q 2019). Profit margin: 1.5% (down from 2.7% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Sep 22
New 90-day low: ₩8,870 The company is down 4.0% from its price of ₩9,240 on 24 June 2020. The South Korean market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 14% over the same period. Announcement • Aug 31
An undisclosed buyer agreed to acquire 39% stake in L&S Venture Capital Corp. from CoAsia Corporation (KOSDAQ:A045970) for KRW 5.4 billion. An undisclosed buyer agreed to acquire 39% stake in L&S Venture Capital Corp. from CoAsia Corporation (KOSDAQ:A045970) for KRW 5.4 billion on August 31, 2020. The buyer will acquire 1.1 million shares. Down payment of 20% will be paid on date of signing this contract, Intermediate payment (30%) will be paid mid-September 2020 and Balance (50%) will paid on expected sales date.
Board resolution date is August 31, 2020. Completion is expected on October 6, 2020.