Announcement • Mar 17
FOCUS AI Co., Ltd., Annual General Meeting, Mar 31, 2026 FOCUS AI Co., Ltd., Annual General Meeting, Mar 31, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 16-17, ls-ro 91beon-gil, dongan-gu, gyeonggi-do, anyang South Korea Announcement • Feb 24
FOCUS AI Co., Ltd. announced that it expects to receive KRW 1.999998819 billion in funding FOCUS AI Co., Ltd. announced private placement of 774,293 common shares at an issue price of KRW 2,583 for gross proceeds of KRW 1,999,998,819 on February 23, 2026. The transaction includes participation from Kim Jin-seok for 387,146 shares, KL No. 1 Fund for 387,147 shares. The common shares have a lock- up period of 1 year. The transaction is approved by board of directors of the company, and is expected to close on April 15, 2026. New Risk • Feb 20
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 37% This is considered a major 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 Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 81% per year over the past 5 years. Shareholders have been substantially diluted in the past year (37% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩89.1b market cap, or US$61.6m). New Risk • Jan 29
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 13% 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 81% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (25% increase in shares outstanding). Market cap is less than US$100m (₩101.9b market cap, or US$71.0m). Announcement • Jan 27
FOCUS AI Co., Ltd. announced that it has received KRW 999.999944 million in funding from Aptamer Sciences Inc On January 26, 2026, FOCUS AI Co., Ltd. closed the transaction through third-party allotment capital increase. New Risk • Jan 13
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% 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 81% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (₩67.4b market cap, or US$45.7m). Announcement • Dec 20
FOCUS AI Co., Ltd. has filed a Follow-on Equity Offering in the amount of KRW 5 billion. FOCUS AI Co., Ltd. has filed a Follow-on Equity Offering in the amount of KRW 5 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,996,805
Price\Range: KRW 2504 Announcement • Nov 29
FOCUS AI Co., Ltd. announced that it has received KRW 4.999998437 billion in funding from Wehub Inc. and another investor On November 28, 2025, FOCUS AI Co., Ltd. closed the transaction. The company issued 1,009,591 common shares at an issue price of KRW 1,981 for gross proceeds of KRW 1,999,999,771 in its second tranche. New Risk • Nov 27
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: -₩11b 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 (-₩11b free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 81% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩68.3b market cap, or US$46.7m). New Risk • Aug 21
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% 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 85% 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 (25% increase in shares outstanding). Market cap is less than US$100m (₩55.3b market cap, or US$39.5m). New Risk • Jul 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 9.1% 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: Major Risk Earnings have declined by 85% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.1% average weekly change). Market cap is less than US$100m (₩56.4b market cap, or US$41.4m). New Risk • Apr 02
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 57% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (₩39.4b market cap, or US$26.8m). Announcement • Mar 18
FOCUS HNS Co., Ltd., Annual General Meeting, Mar 31, 2025 FOCUS HNS Co., Ltd., Annual General Meeting, Mar 31, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 16-17, ls-ro 91beon-gil, dongan-gu, gyeonggi-do, anyang South Korea New Risk • Dec 16
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 (10% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (₩45.2b market cap, or US$31.5m). Announcement • Nov 01
FOCUS HNS Co., Ltd. (KOSDAQ:A331380) announces an Equity Buyback for KRW 2,000 million worth of its shares. FOCUS HNS Co., Ltd. (KOSDAQ:A331380) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares pursuant to a trust agreement with IBK Securities Co., Ltd. The program is aimed at enhancement of shareholder value. As of October 29, 2024, the company had 444,417 common shares in treasury through buyback within dividend capacity and 3 shares in treasury through other acquisitions. New Risk • Oct 12
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% 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 19% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (₩86.0b market cap, or US$63.7m). Announcement • Aug 28
Wehub Inc., Elon Fund 1, Moon Na-hye and Reliance Association completed the acquisition of 37.6% stake in FOCUS HNS Co., Ltd. (KOSDAQ:A331380) from Kim Dae-jung, Jeon Jae-hyun and Ahn Chang-hyun. Wehub Inc., Elon Fund 1, Moon Na-hye and Reliance Association agreed to acquire 37.6% stake in FOCUS HNS Co., Ltd. (KOSDAQ:A331380) from Kim Dae-jung, Jeon Jae-hyun and Ahn Chang-hyun for KRW 21.6 billion on July 10, 2024. A cash consideration valued at KRW 3020 per share will be paid by Wehub Inc., Elon Fund 1 and Reliance Association.
Wehub Inc., Elon Fund 1, Moon Na-hye and Reliance Association completed the acquisition of 37.6% stake in FOCUS HNS Co., Ltd. (KOSDAQ:A331380) from Kim Dae-jung, Jeon Jae-hyun and Ahn Chang-hyun on August 27, 2024. New Risk • Aug 17
New major risk - Revenue and earnings growth Earnings have declined by 19% 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 19% 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 (₩78.1b market cap, or US$57.9m). Announcement • Jul 10
FOCUS HNS Co., Ltd. has filed a Follow-on Equity Offering in the amount of KRW 999.99984 million. FOCUS HNS Co., Ltd. has filed a Follow-on Equity Offering in the amount of KRW 999.99984 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 510,204
Price\Range: KRW 1960
Transaction Features: Subsequent Direct Listing New Risk • May 25
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: 0.7% Last year net profit margin: 3.1% 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 Earnings have declined by 19% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.7% net profit margin). Market cap is less than US$100m (₩38.3b market cap, or US$28.1m). Announcement • Jan 30
FOCUS HNS Co., Ltd. (KOSDAQ:A331380) announces an Equity Buyback for KRW 1,000 million worth of its shares. FOCUS HNS Co., Ltd. (KOSDAQ:A331380) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its shares pursuant to a trust agreement with Kyobo Securities Co., Ltd. The program is aimed at enhancement of shareholder value and compensation for executive and employee performance. As of January 29, 2024, the company had no common shares in treasury through buyback within dividend capacity and 3 shares in treasury through other acquisitions. Upcoming Dividend • Dec 20
Inaugural dividend of ₩30.00 per share Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 12 April 2024. This is the first dividend for FOCUS HNS since going public. The average dividend yield among industry peers is 0.9%. New Risk • Nov 30
New major risk - Revenue and earnings growth Revenue has declined by 12% over the past year. 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 revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue 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 Revenue has declined by 12% over the past year. Minor Risk Market cap is less than US$100m (₩40.3b market cap, or US$31.0m). Buying Opportunity • Sep 12
Now 21% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be ₩3,102, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Earnings per share has grown by 1,399%. Buying Opportunity • Aug 10
Now 20% undervalued Over the last 90 days, the stock is up 21%. The fair value is estimated to be ₩3,038, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last year. Earnings per share has grown by 60%. New Risk • Jul 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 9.9% 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: Minor Risks Share price has been volatile over the past 3 months (9.9% average weekly change). Market cap is less than US$100m (₩59.9b market cap, or US$46.0m). Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to ₩3,145, the stock trades at a trailing P/E ratio of 31.3x. Average forward P/E is 14x in the Electronic industry in South Korea. Total returns to shareholders of 60% over the past three years. Reported Earnings • May 17
First quarter 2023 earnings released: EPS: ₩44.00 (vs ₩89.00 in 1Q 2022) First quarter 2023 results: EPS: ₩44.00 (down from ₩89.00 in 1Q 2022). Revenue: ₩16.4b (up 3.1% from 1Q 2022). Net income: ₩839.7m (down 48% from 1Q 2022). Profit margin: 5.1% (down from 10% in 1Q 2022). The decrease in margin was driven by higher expenses. Buying Opportunity • Apr 21
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 8.3%. The fair value is estimated to be ₩2,650, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Reported Earnings • Nov 09
Third quarter 2022 earnings released: EPS: ₩17.00 (vs ₩48.00 in 3Q 2021) Third quarter 2022 results: EPS: ₩17.00 (down from ₩48.00 in 3Q 2021). Revenue: ₩17.5b (up 43% from 3Q 2021). Net income: ₩318.4m (down 52% from 3Q 2021). Profit margin: 1.8% (down from 5.5% in 3Q 2021). The decrease in margin was driven by higher expenses. 