Buy Or Sell Opportunity • May 22
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 6.8% to ₩20,100. The fair value is estimated to be ₩16,178, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.5% over the last 3 years. Meanwhile, the company has become profitable. New Risk • May 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩149.8b (US$99.3m) 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩19,870, the stock trades at a trailing P/E ratio of 73.7x. Average trailing P/E is 15x in the Electric Utilities industry in Asia. Total returns to shareholders of 3.2% over the past year. Buy Or Sell Opportunity • Apr 10
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to ₩19,590. The fair value is estimated to be ₩16,202, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.5% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩21,800, the stock trades at a trailing P/E ratio of 47.5x. Average trailing P/E is 17x in the Electric Utilities industry in Asia. Total returns to shareholders of 41% over the past year. Announcement • Mar 17
Gridwiz Co.,Ltd., Annual General Meeting, Mar 31, 2026 Gridwiz Co.,Ltd., Annual General Meeting, Mar 31, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 131, bundangnaegok-ro, bundang-gu, gyeonggi-do, seongnam South Korea Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩19,970, the stock trades at a trailing P/E ratio of 43.6x. Average trailing P/E is 18x in the Electric Utilities industry in Asia. Total returns to shareholders of 8.8% over the past year. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩16,380, the stock trades at a trailing P/E ratio of 35.7x. Average trailing P/E is 15x in the Electric Utilities industry in Asia. Total loss to shareholders of 6.9% over the past year. New Risk • Oct 11
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩142.2b (US$99.5m) 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 29% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩142.2b market cap, or US$99.5m). New Risk • Jul 03
New major risk - Revenue and earnings growth Earnings have declined by 27% 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 27% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). New Risk • Jun 25
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. This is currently the only risk that has been identified for the company. New Risk • Apr 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 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 (₩125.5b market cap, or US$86.2m). Buy Or Sell Opportunity • Apr 01
Now 20% overvalued Over the last 90 days, the stock has fallen 15% to ₩14,050. The fair value is estimated to be ₩11,688, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 25% in 2 years. Earnings are forecast to grow by 100% in the next 2 years. Announcement • Mar 18
Gridwiz Co.,Ltd., Annual General Meeting, Mar 31, 2025 Gridwiz Co.,Ltd., Annual General Meeting, Mar 31, 2025, at 10:00 Tokyo Standard Time. Location: town hall, 131, bundangnaegok-ro, bundang-gu, gyeonggi-do, seongnam South Korea Buy Or Sell Opportunity • Dec 10
Now 20% overvalued Over the last 90 days, the stock has fallen 44% to ₩14,860. The fair value is estimated to be ₩12,372, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has declined by 177%. Revenue is forecast to decline by 19% in 2 years. Earnings are forecast to decline by 100% in the next 2 years. New Risk • Dec 03
New major risk - Revenue and earnings growth Earnings have declined by 4.0% 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 4.0% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.09% net profit margin). Market cap is less than US$100m (₩131.7b market cap, or US$93.9m). New Risk • Nov 15
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩136.4b (US$97.8m) 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 Share price has been volatile over the past 3 months (9.4% average weekly change). Market cap is less than US$100m (₩136.4b market cap, or US$97.8m). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 28% After last week's 28% share price decline to ₩20,100, the stock trades at a trailing P/E ratio of 28.8x. Average forward P/E is 13x in the Electric Utilities industry in South Korea. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment deteriorates as stock falls 33% After last week's 33% share price decline to ₩29,100, the stock trades at a trailing P/E ratio of 41.7x. Average forward P/E is 12x in the Electric Utilities industry in South Korea. Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩42,050, the stock trades at a trailing P/E ratio of 60.2x. Average forward P/E is 26x in the IT industry in South Korea.