Buy Or Sell Opportunity • May 22
Now 26% overvalued Over the last 90 days, the stock has fallen 19% to ₩3,385. The fair value is estimated to be ₩2,682, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 8.1%. Valuation Update With 7 Day Price Move • May 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩3,425, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 16x in the Chemicals industry in South Korea. Total returns to shareholders of 20% over the past three years. Valuation Update With 7 Day Price Move • Apr 23
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to ₩4,320, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 16x in the Chemicals industry in South Korea. Total returns to shareholders of 54% over the past three years. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to ₩7,120, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 12x in the Chemicals industry in South Korea. Total returns to shareholders of 209% over the past three years. Reported Earnings • Mar 05
Second quarter 2026 earnings released: EPS: ₩227 (vs ₩259 in 2Q 2025) Second quarter 2026 results: EPS: ₩227 (down from ₩259 in 2Q 2025). Revenue: ₩298.0b (up 18% from 2Q 2025). Net income: ₩19.5b (down 6.5% from 2Q 2025). Profit margin: 6.6% (down from 8.3% in 2Q 2025). The decrease in margin was driven by higher expenses. 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 38% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩4,800, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 13x in the Chemicals industry in South Korea. Total returns to shareholders of 119% over the past three years. Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩3,895, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 13x in the Chemicals industry in South Korea. Total returns to shareholders of 76% over the past three years. Tillkännagivande • Jan 20
Great Rich Technologies Limited announced that it expects to receive KRW 29.469998649 billion in funding from Yong Yu Tongtechnology Limited, Ai Jia Guo Ji Ke Ji You Xian Gong Si Great Rich Technologies Limited announced a private placement to issue 9,241,141 shares at an issue price of KRW 3,189 per share for gross proceeds of KRW 29,469,998,649 on January 19, 2026. The transaction will include participation from new investors Yong Yu Tongtechnology Limited 5,101,572 shares and Aijia International Technology Limited 4,139,569 shares. The transaction has been approved by shareholders, expected to close on February 6, 2026 and restricted to a hold period, Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩3,555, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 11x in the Chemicals industry in South Korea. Total returns to shareholders of 76% over the past three years. Reported Earnings • Dec 04
First quarter 2026 earnings released: EPS: ₩288 (vs ₩265 in 1Q 2025) First quarter 2026 results: EPS: ₩288 (up from ₩265 in 1Q 2025). Revenue: ₩263.1b (up 8.5% from 1Q 2025). Net income: ₩23.3b (up 31% from 1Q 2025). Profit margin: 8.8% (up from 7.3% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 15% per year. Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩3,125, the stock trades at a trailing P/E ratio of 3.4x. Average trailing P/E is 12x in the Chemicals industry in South Korea. Total returns to shareholders of 42% over the past three years. Buy Or Sell Opportunity • Nov 17
Now 20% overvalued Over the last 90 days, the stock has fallen 6.6% to ₩2,770. The fair value is estimated to be ₩2,308, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 20%. Tillkännagivande • Aug 29
Great Rich Technologies Limited announced that it expects to receive KRW 2.85 billion in funding Great Rich Technologies Limited announced a private placement of 950,000 common stock at a price KRW 3,000 for gross proceeds KRW 2,850,000,000 on August 28, 2025. The transaction includes participation from individual investors Pang Yi, Hu Yiming, Li Su, Zou Cheng and Luo Hanlu. The transaction is expected to close on September 12, 2025. The shares are held lockup for 1 year. The transaction was approved by board of directors. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩2,875, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 12x in the Chemicals industry in South Korea. Total returns to shareholders of 169% over the past three years. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩3,210, the stock trades at a trailing P/E ratio of 3.2x. Average trailing P/E is 11x in the Chemicals industry in South Korea. Total returns to shareholders of 216% over the past three years. Buy Or Sell Opportunity • Apr 10
Now 25% overvalued Over the last 90 days, the stock has fallen 16% to ₩2,705. The fair value is estimated to be ₩2,161, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 36%. Reported Earnings • Mar 06
Second quarter 2025 earnings released: EPS: ₩259 (vs ₩427 in 2Q 2024) Second quarter 2025 results: EPS: ₩259 (down from ₩427 in 2Q 2024). Revenue: ₩252.4b (up 23% from 2Q 2024). Net income: ₩20.9b (down 24% from 2Q 2024). Profit margin: 8.3% (down from 13% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Feb 27
Great Rich Technologies Limited announced that it expects to receive KRW 7.15349919 billion in funding from Shanshan Investment Holdings Limited and other investors Great Rich Technologies Limited announced a private placement to issue 1,710,545 shares at an issue price of KRW 4,182 for gross proceeds of KRW 7,153,499,190 on February 26, 2025. The transaction will include participation from new and returning investor Huiyao International Holdings Ltd 1,488,174 shares, Zhou Yongnan 171,055 shares and Shanshan Investment Holdings Limited 51,316 shares. The transaction has been approved by shareholders, expected to close on May 16, 2025 and is restricted to a hold period. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to ₩4,255, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 11x in the Chemicals industry in South Korea. Total returns to shareholders of 253% over the past three years. New Risk • Dec 07
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 32% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. 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). Share price has been highly volatile over the past 3 months (14% average weekly change). High level of non-cash earnings (32% accrual ratio). Minor Risk Less than 3 years of financial data is available. Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩3,530, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 10x in the Chemicals industry in South Korea. Total returns to shareholders of 57% over the past year. Tillkännagivande • Oct 24
Great Rich Technologies Limited (KOSDAQ:A900290) signed a definitive merger agreement to acquire Flag Ship Acquisition Corporation (NasdaqGM:FSHP) from Whale Management Corporation. Great Rich Technologies Limited (KOSDAQ:A900290) signed a definitive merger agreement to acquire Flag Ship Acquisition Corporation (NasdaqGM:FSHP) from Whale Management Corporation on October 21, 2024. Upon completion of the merger, shareholders of Flag Ship will receive American Depositary Shares ("ADSs") of Great Rich Technologies ("GRT"). The aggregate consideration payable to pursuant to the Merger Agreement to the shareholders of Flag Ship entitled thereto shall consist of that number of GRT Ordinary Shares payable in GRT ADSs that is equal to (i) the Per Share Merger Consideration multiplied by the number of Flag Ship Shares registered in the name of those shareholders of Flag Ship immediately prior to the Effective Time, multiplied by the ADS Exchange Rate, plus (ii) the Rights Merger Consideration, as described above.
The closing conditions of the merger include, among others, the approval of the merger by Flag Ship's existing shareholders and approvals from GRT shareholders, and the approval for listing of GRT's ADSs on the Nasdaq Stock Market. Becker & Poliakoff P.A. and Ogier are acting as legal counsel to Flag Ship. Miller Canfield Paddock and Stone P.L.C. and Appleby are acting as legal counsel to the GRT Companies. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩4,180, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 11x in the Chemicals industry in South Korea. Total returns to shareholders of 95% over the past year. Tillkännagivande • Oct 04
Great Rich Technologies Limited, Annual General Meeting, Oct 28, 2024 Great Rich Technologies Limited, Annual General Meeting, Oct 28, 2024, at 10:00 Tokyo Standard Time. Location: conference room, 22, uisadang-daero, yeongdeungpo-gu, seoul South Korea Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩3,955, the stock trades at a trailing P/E ratio of 3.3x. Average trailing P/E is 12x in the Chemicals industry in South Korea. Total returns to shareholders of 79% over the past year. Tillkännagivande • May 18
Great Rich Technologies Limited (KOSDAQ:A900290) agreed to acquire 11.39% stake in Zhejiang Hongyu New Materials Co., Ltd for KRW 87.7 billion. Great Rich Technologies Limited (KOSDAQ:A900290) agreed to acquire 11.39% stake in Zhejiang Hongyu New Materials Co., Ltd for KRW 87.7 billion on May 14, 2024. The consideration consists of KRW 87660 million in cash. As part of the consideration, KRW 87660 million was paid towards common equity. The deal is expected to be completed on May 14, 2024. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩3,070, the stock trades at a trailing P/E ratio of 3.4x. Average trailing P/E is 16x in the Chemicals industry in South Korea. Total returns to shareholders of 28% over the past year. Reported Earnings • Dec 02
First quarter 2024 earnings released: EPS: ₩298 (vs ₩207 in 1Q 2023) First quarter 2024 results: EPS: ₩298 (up from ₩207 in 1Q 2023). Revenue: ₩204.8b (up 45% from 1Q 2023). Net income: ₩20.1b (up 44% from 1Q 2023). Profit margin: 9.8% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Nov 02
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 6.9% 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 (6.9% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 4.6% per year over the past 5 years. High level of non-cash earnings (28% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (7.1% net profit margin). Valuation Update With 7 Day Price Move • Sep 18
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩3,690, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 14x in the Chemicals industry in South Korea. Total returns to shareholders of 156% over the past three years. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩2,850, the stock trades at a trailing P/E ratio of 3.2x. Average trailing P/E is 14x in the Chemicals industry in South Korea. Total returns to shareholders of 89% over the past three years. New Risk • Aug 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 8.4% 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 Earnings have declined by 5.0% per year over the past 5 years. High level of non-cash earnings (38% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change). Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to ₩3,555, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 14x in the Chemicals industry in South Korea. Total returns to shareholders of 169% over the past three years. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩3,980, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 16x in the Chemicals industry in South Korea. Total returns to shareholders of 138% over the past three years. Reported Earnings • Jun 03
Third quarter 2023 earnings released: EPS: ₩53.00 (vs ₩124 in 3Q 2022) Third quarter 2023 results: EPS: ₩53.00. Revenue: ₩206.6b (up 130% from 3Q 2022). Net income: ₩9.87b (up 19% from 3Q 2022). Profit margin: 4.8% (down from 9.3% in 3Q 2022). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩3,190, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 12x in the Chemicals industry in South Korea. Total returns to shareholders of 210% over the past three years. Reported Earnings • Mar 08
Second quarter 2023 earnings released: EPS: ₩367 (vs ₩73.00 in 2Q 2022) Second quarter 2023 results: EPS: ₩367 (up from ₩73.00 in 2Q 2022). Revenue: ₩207.4b (up 86% from 2Q 2022). Net income: ₩18.4b (up 278% from 2Q 2022). Profit margin: 8.9% (up from 4.4% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Reported Earnings • Dec 03
First quarter 2023 earnings released: EPS: ₩213 (vs ₩175 in 1Q 2022) First quarter 2023 results: EPS: ₩213 (up from ₩175 in 1Q 2022). Revenue: ₩145.1b (up 43% from 1Q 2022). Net income: ₩14.4b (up 22% from 1Q 2022). Profit margin: 9.9% (down from 12% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩2,585, the stock trades at a trailing P/E ratio of 5.1x. Average trailing P/E is 12x in the Chemicals industry in South Korea. Total returns to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment improved over the past week After last week's 22% share price gain to ₩2,360, the stock trades at a trailing P/E ratio of 4.7x. Average trailing P/E is 13x in the Chemicals industry in South Korea. Total returns to shareholders of 18% over the past three years. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improved over the past week After last week's 20% share price gain to ₩1,590, the stock trades at a trailing P/E ratio of 3.2x. Average trailing P/E is 13x in the Chemicals industry in South Korea. Total loss to shareholders of 22% over the past three years. Reported Earnings • Jun 02
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: ₩124 (down from ₩191 in 3Q 2021). Revenue: ₩89.9b (flat on 3Q 2021). Net income: ₩8.32b (down 35% from 3Q 2021). Profit margin: 9.3% (down from 14% in 3Q 2021). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 2.4%. Over the last 3 years on average, earnings per share has fallen by 24% per year whereas the company’s share price has fallen by 19% per year. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment improved over the past week After last week's 19% share price gain to ₩1,455, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 16x in the Chemicals industry in South Korea. Total loss to shareholders of 27% over the past three years.