New Risk • May 15
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩149.1b (US$99.7m) 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 94% Paying a dividend despite having no free cash flows. High level of non-cash earnings (86% accrual ratio). Minor Risk Market cap is less than US$100m (₩149.1b market cap, or US$99.7m). Announcement • Mar 17
Se Gyung Hi Tech Co., Ltd., Annual General Meeting, Mar 31, 2026 Se Gyung Hi Tech Co., Ltd., Annual General Meeting, Mar 31, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 128, saneop-ro 155beon-gil, gwonseon-gu, gyeonggi-do, suwon South Korea New Risk • Mar 04
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 94% The company is paying a dividend despite having no free cash flows. Dividend yield: 2.5% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 94% Paying a dividend despite having no free cash flows. High level of non-cash earnings (47% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (1.4% net profit margin). Market cap is less than US$100m (₩142.0b market cap, or US$97.1m). New Risk • Nov 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: 8.9% Last year net profit margin: 18% 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: Major Risk High level of non-cash earnings (55% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (8.9% net profit margin). New Risk • Aug 29
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 23% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risks Earnings are forecast to decline by an average of 23% per year for the foreseeable future. High level of non-cash earnings (87% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (10% average weekly change). New Risk • Jul 21
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% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (10% average weekly change). Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improves as stock rises 37% After last week's 37% share price gain to ₩8,510, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Electronic industry in South Korea. Total returns to shareholders of 34% over the past three years. Announcement • Jun 19
Se Gyung Hi Tech Co., Ltd. (KOSDAQ:A148150) announces an Equity Buyback for KRW 4,000 million worth of its shares. Se Gyung Hi Tech Co., Ltd. (KOSDAQ:A148150) announces a share repurchase program. Under the program, the company will repurchase up to KRW 4,000 million worth of its shares pursuant to a contract with NH INVESTMENT & SECURITIES CO.,LTD. The purpose of the share repurchase is to increase shareholder value, stabilize stock prices and stock burn. The repurchase program will expire on December 17, 2025. As of June 17, 2025, the company had 1,238,508 shares within scope available for dividend and had no shares in treasury through other repurchase. Major Estimate Revision • May 02
Consensus revenue estimates fall by 22% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₩369.9m to ₩289.0m. EPS estimate fell from ₩1,215 to ₩931 per share. Net income forecast to shrink 20% next year vs 5.2% growth forecast for Electronic industry in South Korea . Consensus price target of ₩11,000 unchanged from last update. Share price fell 2.1% to ₩7,150 over the past week. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩5,880, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 8x in the Electronic industry in South Korea. Total loss to shareholders of 19% over the past three years. New Risk • Mar 22
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 9.5% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 9.5% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.5% average weekly change). Announcement • Mar 13
Se Gyung Hi Tech Co., Ltd., Annual General Meeting, Mar 26, 2025 Se Gyung Hi Tech Co., Ltd., Annual General Meeting, Mar 26, 2025, at 09:01 Tokyo Standard Time. Location: conference room, 128, saneop-ro 155beon-gil, gwonseon-gu, gyeonggi-do, suwon South Korea Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩9,750, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 10x in the Electronic industry in South Korea. Total returns to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩8,800, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 10x in the Electronic industry in South Korea. Total returns to shareholders of 14% over the past three years. Announcement • Dec 18
Se Gyung Hi Tech Co., Ltd. (KOSDAQ:A148150) announces an Equity Buyback for KRW 5,000 million worth of its shares. Se Gyung Hi Tech Co., Ltd. (KOSDAQ:A148150) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its shares pursuant to a contract with NH INVESTMENT & SECURITIES CO.,LTD. The purpose of the share repurchase is to enhance shareholder value and stabilize stock prices. The repurchase program will expire on June 17, 2025. As of December 17, 2024, the company had 461,000 shares within scope available for dividend and had no shares in treasury through other repurchase. 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 December 2019. 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 December 2019 fiscal period end). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.3% average weekly change). Price Target Changed • Sep 12
Price target decreased by 13% to ₩10,000 Down from ₩11,500, the current price target is an average from 2 analysts. New target price is 86% above last closing price of ₩5,370. Stock is up 15% over the past year. The company is forecast to post a net loss per share of ₩691 compared to earnings per share of ₩989 last year. Major Estimate Revision • Sep 12
Consensus EPS estimates fall by 244% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -₩201 to -₩691 per share. Revenue forecast unchanged at ₩328.9m. Electronic industry in South Korea expected to see average net income growth of 43% next year. Consensus price target down from ₩11,500 to ₩10,000. Share price fell 6.8% to ₩5,370 over the past week. New Risk • Aug 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 125% 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 Dividend is not well covered by earnings (361% payout ratio). Share price has been volatile over the past 3 months (10% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.4% net profit margin). Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩8,350, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Electronic industry in South Korea. Total returns to shareholders of 16% over the past three years. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩11,460, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Electronic industry in South Korea. Total returns to shareholders of 63% over the past three years. Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₩12,260, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Electronic industry in South Korea. Total returns to shareholders of 84% over the past three years. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩9,900, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x 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 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩6,920, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Electronic industry in South Korea. Total loss to shareholders of 12% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩13,477 per share. New Risk • Nov 15
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 9.1% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.1% average weekly change). Profit margins are more than 30% lower than last year (4.9% net profit margin). Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩13,880, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Electronic industry in South Korea. Total loss to shareholders of 33% over the past three years. New Risk • Oct 31
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩119.6b (US$88.8m) 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.9% net profit margin). Market cap is less than US$100m (₩119.6b market cap, or US$88.8m). Buying Opportunity • Oct 31
Now 30% undervalued after recent price drop Over the last 90 days, the stock is down 42%. The fair value is estimated to be ₩14,464, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 10% in 2 years. Earnings is forecast to grow by 62% in the next 2 years. New Risk • Aug 31
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: 4.9% Last year net profit margin: 8.9% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.9% net profit margin). New Risk • Aug 17
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.4% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Major Estimate Revision • Aug 17
Consensus EPS estimates fall by 48% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ₩314.6m to ₩288.4m. EPS estimate also fell from ₩2,091 per share to ₩1,086 per share. Net income forecast to shrink 23% next year vs 11% growth forecast for Electronic industry in South Korea . Consensus price target down from ₩25,000 to ₩21,000. Share price fell 8.9% to ₩14,700 over the past week. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩17,900, the stock trades at a trailing P/E ratio of 12.8x. Average forward P/E is 13x in the Electronic industry in South Korea. Total loss to shareholders of 41% over the past three years. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩16,390, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 14x in the Electronic industry in South Korea. Total loss to shareholders of 28% over the past three years. Upcoming Dividend • Dec 21
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 18 April 2023. Payout ratio is a comfortable 4.3% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (1.0%). Announcement • Dec 16
SGH Holdings Co., Ltd. completed the acquisition of a 20.68% stake in Se Gyung Hi Tech Co.,Ltd (KOSDAQ:A148150) from Youngmin Lee. SGH Holdings Co., Ltd. agreed to acquire a 20.68% stake in Se Gyung Hi Tech Co.,Ltd (KOSDAQ:A148150) from Youngmin Lee for KRW 80 billion on November 24, 2022. The transaction is expected to close on December 15, 2022.
SGH Holdings Co., Ltd. completed the acquisition of a 20.68% stake in Se Gyung Hi Tech Co.,Ltd (KOSDAQ:A148150) from Youngmin Lee on December 15, 2022. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improved over the past week After last week's 16% share price gain to ₩14,450, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Electronic industry in South Korea. Total loss to shareholders of 61% over the past three years. Price Target Changed • Nov 16
Price target increased to ₩30,000 Up from ₩18,500, the current price target is provided by 1 analyst. New target price is 130% above last closing price of ₩13,050. Stock is down 48% over the past year. The company is forecast to post earnings per share of ₩1,990 for next year compared to ₩1,928 last year. Buying Opportunity • Oct 19
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 37%. The fair value is estimated to be ₩14,866, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.7% over the last 3 years. Earnings per share has declined by 41%. Revenue is forecast to grow by 27% in 2 years. Earnings is forecast to grow by 17% in the next 2 years. Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩12,050, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 9x in the Electronic industry in South Korea. Total loss to shareholders of 50% over the past three years. Buying Opportunity • Sep 28
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 29%. The fair value is estimated to be ₩16,175, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.7% over the last 3 years. Earnings per share has declined by 41%. Revenue is forecast to grow by 27% in 2 years. Earnings is forecast to grow by 17% in the next 2 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 ₩13,400, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 9x in the Electronic industry in South Korea. Total loss to shareholders of 30% over the past three years. Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩16,450, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Electronic industry in South Korea. Total loss to shareholders of 25% over the past year. Price Target Changed • Apr 27
Price target increased to ₩39,000 Up from ₩18,500, the current price target is provided by 1 analyst. New target price is 74% above last closing price of ₩22,350. Stock is up 4.7% over the past year. The company is forecast to post earnings per share of ₩2,273 for next year compared to ₩1,928 last year. Upcoming Dividend • Dec 22
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 11 April 2022. Payout ratio is a comfortable 7.1% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of South Korean dividend payers (2.4%). In line with average of industry peers (0.4%). Is New 90 Day High Low • Feb 25
New 90-day low: ₩21,150 The company is down 9.0% from its price of ₩23,150 on 27 November 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 21% over the same period. Is New 90 Day High Low • Jan 27
New 90-day high: ₩23,850 The company is up 17% from its price of ₩20,450 on 29 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 Electronic industry, which is up 57% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩250 Per Share Will be paid on the 10th of April to those who are registered shareholders by the 29th of December. The trailing yield of 1.1% 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 • Oct 17
New 90-day low: ₩22,400 The company is down 24% from its price of ₩29,500 on 17 July 2020. The South Korean market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 5.0% over the same period.