Buy Or Sell Opportunity • Jul 20
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 24% to ₩1,063. The fair value is estimated to be ₩1,369, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 17% over the last 3 years. Meanwhile, the company became loss making. Announcement • May 28
3S KOREA Co., Ltd., Annual General Meeting, Jun 25, 2026 3S KOREA Co., Ltd., Annual General Meeting, Jun 25, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 847, miyang-ro, gyeonggi-do, anseong South Korea Reported Earnings • Feb 14
Third quarter 2026 earnings released: ₩23.00 loss per share (vs ₩3.00 loss in 3Q 2025) Third quarter 2026 results: ₩23.00 loss per share (further deteriorated from ₩3.00 loss in 3Q 2025). Revenue: ₩5.43b (down 16% from 3Q 2025). Net loss: ₩1.23b (loss widened ₩1.10b from 3Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 16
First quarter 2026 earnings released: EPS: ₩1.00 (vs ₩13.00 loss in 1Q 2025) First quarter 2026 results: EPS: ₩1.00 (up from ₩13.00 loss in 1Q 2025). Revenue: ₩9.87b (up 84% from 1Q 2025). Net income: ₩31.8m (up ₩683.7m from 1Q 2025). Profit margin: 0.3% (up from net loss in 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. New Risk • Jun 21
New major risk - Revenue and earnings growth Earnings have declined by 7.7% 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 7.7% 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 (₩133.4b market cap, or US$97.3m). Announcement • May 29
3S KOREA Co., Ltd., Annual General Meeting, Jun 26, 2025 3S KOREA Co., Ltd., Annual General Meeting, Jun 26, 2025, at 09:01 Tokyo Standard Time. Location: conference room, 847, miyang-ro, gyeonggi-do, anseong South Korea New Risk • Mar 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 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: Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (₩123.1b market cap, or US$84.0m). Reported Earnings • Feb 20
Third quarter 2025 earnings released: ₩3.00 loss per share (vs ₩15.00 profit in 3Q 2024) Third quarter 2025 results: ₩3.00 loss per share (down from ₩15.00 profit in 3Q 2024). Revenue: ₩6.47b (down 20% from 3Q 2024). Net loss: ₩132.7m (down 108% from profit in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Announcement • Dec 11
3S KOREA Co., Ltd. announced that it expects to receive KRW 5 billion in funding 3S KOREA Co., Ltd. announced a private placement to issue Series 13 Anonymous unsecured convertible bonds for a gross proceeds of KRW 5,000,000,000 on December 9, 2024. The transaction includes participation from Innisfree Paradise Co., Ltd. The bonds have 2% coupon rate and yield to maturity of 4%. The bonds will mature on December 17, 2029 The bonds will be 100% converted into 2,570,694 common shares at a fixed conversion price of KRW 1,945 per share. The conversion period is from December 17, 2025 to November 17, 2029. The payment date of the transaction is December 17, 2024. The transaction has been approved by the board of directors of the company. The issuance is subject to prohibition for conversion and division of rights for 1 year from the date of issuance of the bonds. 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 Shareholders have been diluted in the past year (5.2% increase in shares outstanding). Market cap is less than US$100m (₩106.8b market cap, or US$81.1m). New Risk • Aug 16
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: 2.4% Last year net profit margin: 4.3% 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 (2.4% net profit margin). Shareholders have been diluted in the past year (5.2% increase in shares outstanding). Market cap is less than US$100m (₩114.4b market cap, or US$84.2m). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩1,929, the stock trades at a trailing P/E ratio of 37.8x. Average trailing P/E is 13x in the Electronic industry in South Korea. Total loss to shareholders of 48% over the past three years. Reported Earnings • Jun 21
Full year 2024 earnings released: EPS: ₩54.00 (vs ₩30.00 in FY 2023) Full year 2024 results: EPS: ₩54.00 (up from ₩30.00 in FY 2023). Revenue: ₩43.6b (up 4.2% from FY 2023). Net income: ₩2.61b (up 82% from FY 2023). Profit margin: 6.0% (up from 3.4% in FY 2023). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 29
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩2,935, the stock trades at a trailing P/E ratio of 50.4x. Average trailing P/E is 16x in the Electronic industry in South Korea. Total returns to shareholders of 1.2% over the past three years. New Risk • May 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.2% 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 Share price has been volatile over the past 3 months (7.8% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (5.2% increase in shares outstanding). Market cap is less than US$100m (₩133.8b market cap, or US$98.9m). Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩2,730, the stock trades at a trailing P/E ratio of 44.5x. Average trailing P/E is 15x in the Electronic industry in South Korea. Total returns to shareholders of 1.1% over the past three years. New Risk • Apr 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩132.5b (US$97.9m) 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: Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₩132.5b market cap, or US$97.9m). Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩3,290, the stock trades at a trailing P/E ratio of 53.7x. Average trailing P/E is 16x in the Electronic industry in South Korea. Total returns to shareholders of 37% over the past three years. Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: ₩36.00 (vs ₩21.00 in 3Q 2023) Third quarter 2024 results: EPS: ₩36.00 (up from ₩21.00 in 3Q 2023). Revenue: ₩8.05b (down 23% from 3Q 2023). Net income: ₩1.74b (up 82% from 3Q 2023). Profit margin: 22% (up from 9.2% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. New Risk • Feb 02
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 12% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩3,405, the stock trades at a trailing P/E ratio of 75.4x. Average trailing P/E is 18x in the Electronic industry in South Korea. Total returns to shareholders of 43% over the past three years. Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to ₩3,195, the stock trades at a trailing P/E ratio of 70.7x. Average trailing P/E is 17x in the Electronic industry in South Korea. Total returns to shareholders of 42% over the past three years. Reported Earnings • Nov 19
Second quarter 2024 earnings released: EPS: ₩15.00 (vs ₩13.00 in 2Q 2023) Second quarter 2024 results: EPS: ₩15.00 (up from ₩13.00 in 2Q 2023). Revenue: ₩9.72b (down 10% from 2Q 2023). Net income: ₩707.1m (up 17% from 2Q 2023). Profit margin: 7.3% (up from 5.6% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. New Risk • Jul 22
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩124.0b (US$96.4m) 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: Minor Risks Share price has been volatile over the past 3 months (9.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.4% net profit margin). Shareholders have been diluted in the past year (4.9% increase in shares outstanding). Market cap is less than US$100m (₩124.0b market cap, or US$96.4m). New Risk • Jun 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 25% 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: Minor Risks Share price has been volatile over the past 3 months (9.6% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.4% net profit margin). Shareholders have been diluted in the past year (4.9% increase in shares outstanding). Reported Earnings • Jun 22
Full year 2023 earnings released: EPS: ₩30.00 (vs ₩33.00 in FY 2022) Full year 2023 results: EPS: ₩30.00 (down from ₩33.00 in FY 2022). Revenue: ₩41.9b (up 54% from FY 2022). Net income: ₩1.43b (down 4.9% from FY 2022). Profit margin: 3.4% (down from 5.6% in FY 2022). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: ₩21.00 (vs ₩23.00 in 3Q 2022) Third quarter 2023 results: EPS: ₩21.00 (down from ₩23.00 in 3Q 2022). Revenue: ₩10.4b (up 57% from 3Q 2022). Net income: ₩960.2m (down 8.9% from 3Q 2022). Profit margin: 9.2% (down from 16% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 18
Second quarter 2023 earnings released: EPS: ₩13.00 (vs ₩28.00 in 2Q 2022) Second quarter 2023 results: EPS: ₩13.00 (down from ₩28.00 in 2Q 2022). Revenue: ₩10.8b (up 42% from 2Q 2022). Net income: ₩602.4m (down 54% from 2Q 2022). Profit margin: 5.6% (down from 17% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. 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. 3 experienced directors. 2 highly experienced directors. No independent directors (5 non-independent directors). Director Won-Gyu Sung was the last director to join the board, commencing their role in 2005. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improved over the past week After last week's 16% share price gain to ₩2,825, the stock trades at a trailing P/E ratio of 56.7x. Average trailing P/E is 11x in the Electronic industry in South Korea. Total loss to shareholders of 13% over the past three years. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩2,440, the stock trades at a trailing P/E ratio of 48.9x. Average trailing P/E is 11x in the Electronic industry in South Korea. Total loss to shareholders of 36% over the past three years. Announcement • Sep 23
3S KOREA Co., Ltd. announced that it expects to receive KRW 6.86349999 billion in funding from Namuga (Suzhou) Technologies Co., Ltd. 3S KOREA Co., Ltd. announced a private placement of 2,388,135 common shares at a price of KRW 2,874 per share for the gross proceeds of KRW 6,863,499,990? on September 21, 2022. The transaction includes participation from Namuga (Suzhou) Technologies Co., Ltd. The transaction has been approved by shareholders of the company. The transaction is expected to close on November 3, 2022. Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: ₩9.00 (vs ₩8.00 loss in 1Q 2022) First quarter 2023 results: EPS: ₩9.00 (up from ₩8.00 loss in 1Q 2022). Revenue: ₩7.12b (up 89% from 1Q 2022). Net income: ₩424.9m (up ₩800.8m from 1Q 2022). Profit margin: 6.0% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 22
Full year 2022 earnings released: EPS: ₩33.00 (vs ₩16.00 in FY 2021) Full year 2022 results: EPS: ₩33.00 (up from ₩16.00 in FY 2021). Revenue: ₩27.1b (up 16% from FY 2021). Net income: ₩1.51b (up 117% from FY 2021). Profit margin: 5.6% (up from 3.0% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 17% share price gain to ₩3,490, the stock trades at a trailing P/E ratio of 44.2x. Average trailing P/E is 16x in the Electronic industry in South Korea. Total returns to shareholders of 37% over the past three years. 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. 3 experienced directors. 2 highly experienced directors. No independent directors (5 non-independent directors). Director Won-Gyu Sung was the last director to join the board, commencing their role in 2005. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improved over the past week After last week's 15% share price gain to ₩3,690, the stock trades at a trailing P/E ratio of 46.7x. Average trailing P/E is 17x in the Electronic industry in South Korea. Total returns to shareholders of 56% over the past three years. Reported Earnings • Feb 14
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₩23.00 (up from ₩4.00 in 3Q 2021). Revenue: ₩6.64b (down 24% from 3Q 2021). Net income: ₩1.05b (up 441% from 3Q 2021). Profit margin: 16% (up from 2.2% in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 6% per year. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₩2,530, the stock trades at a trailing P/E ratio of 41.9x. Average trailing P/E is 17x in the Electronic industry in South Korea. Total returns to shareholders of 2.0% over the past three years. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩3,400, the stock trades at a trailing P/E ratio of 56.3x. Average trailing P/E is 17x in the Electronic industry in South Korea. Total returns to shareholders of 60% over the past three years. Reported Earnings • Nov 18
Second quarter 2022 earnings released: EPS ₩28.00 (vs ₩16.00 loss in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₩7.64b (up 14% from 2Q 2021). Net income: ₩1.30b (up ₩2.01b from 2Q 2021). Profit margin: 17% (up from net loss in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Reported Earnings • Jun 19
Full year 2021 earnings released: EPS ₩16.00 (vs ₩24.00 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₩23.5b (up 3.9% from FY 2020). Net income: ₩695.3m (up ₩1.78b from FY 2020). Profit margin: 3.0% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 26
New 90-day high: ₩2,380 The company is up 15% from its price of ₩2,070 on 28 October 2020. The South Korean market is up 36% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 57% over the same period. Is New 90 Day High Low • Dec 16
New 90-day high: ₩2,370 The company is up 6.0% from its price of ₩2,230 on 17 September 2020. The South Korean market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 11% over the same period. Is New 90 Day High Low • Sep 22
New 90-day low: ₩2,120 The company is down 16% from its price of ₩2,520 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.