New Risk • May 21
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: 2.8% Last year net profit margin: 8.8% 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 Risks Share price has been highly volatile over the past 3 months (19% average weekly change). High level of non-cash earnings (42% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (2.8% net profit margin). Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩24,250, the stock trades at a trailing P/E ratio of 52.2x. Average trailing P/E is 17x in the Building industry in South Korea. Total returns to shareholders of 258% over the past year. New Risk • May 13
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 18% 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 (18% average weekly change). High level of non-cash earnings (54% accrual ratio). Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₩22,000, the stock trades at a trailing P/E ratio of 47.4x. Average trailing P/E is 20x in the Building industry in South Korea. Total returns to shareholders of 229% over the past year. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩15,090, the stock trades at a trailing P/E ratio of 30.2x. Average trailing P/E is 18x in the Building industry in South Korea. Total returns to shareholders of 113% over the past year. New Risk • Mar 12
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 14% 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 High level of non-cash earnings (51% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Duyuru • Mar 12
Hansun Engineering Co., Ltd., Annual General Meeting, Mar 27, 2026 Hansun Engineering Co., Ltd., Annual General Meeting, Mar 27, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 27, noksansandan 361-ro, gangseo-gu, busan South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to ₩8,000, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 13x in the Building industry in South Korea. Total loss to shareholders of 6.1% over the past year. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩10,810, the stock trades at a trailing P/E ratio of 18.4x. Average trailing P/E is 13x in the Building industry in South Korea. Total returns to shareholders of 28% over the past year. New Risk • Nov 21
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩147.2b (US$99.8m) 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: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). High level of non-cash earnings (51% accrual ratio). Minor Risk Market cap is less than US$100m (₩147.2b market cap, or US$99.8m). Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ₩251 (vs ₩15.59 in 3Q 2024) Third quarter 2025 results: EPS: ₩251 (up from ₩15.59 in 3Q 2024). Revenue: ₩16.2b (up 45% from 3Q 2024). Net income: ₩2.70b (up ₩2.43b from 3Q 2024). Profit margin: 17% (up from 2.4% in 3Q 2024). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩10,110, the stock trades at a trailing P/E ratio of 22.6x. Average trailing P/E is 16x in the Building industry in South Korea. Total returns to shareholders of 11% over the past year. New Risk • Sep 11
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 9.8% 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 High level of non-cash earnings (38% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (9.8% average weekly change). Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 39% After last week's 39% share price gain to ₩11,470, the stock trades at a trailing P/E ratio of 25.6x. Average trailing P/E is 16x in the Building industry in South Korea. Total loss to shareholders of 8.4% over the past year. Duyuru • Mar 15
Hansun Engineering Co., Ltd., Annual General Meeting, Mar 28, 2025 Hansun Engineering Co., Ltd., Annual General Meeting, Mar 28, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 27, noksansandan 361-ro, gangseo-gu, busan South Korea Duyuru • Jan 22
Hansun Engineering Co., Ltd. announced that it expects to receive KRW 21 billion in funding from Kingo Investment Partners Co. Ltd. and another investor Hansun Engineering Co., Ltd. announced a private placement to issue Zero Coupon Series 3 Unregistered-Type Interest-Free Unsecured Private Placement Convertible Bonds due January 23, 2030 for the gross proceeds of KRW 21,000,000,000 on January 21, 2025. The transaction will include participation from new investors Daishin New Technology Investment Fund 18 KRW 19,000,000,000 and 2024 Daishin-Kingo Growth Capital New Technology Investment Fund KRW 2,000,000,000. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on January 23, 2025, bears zero coupon rate, zero maturity rate and matures on January 23, 2030, 100% convertible into 2,534,089 shares at a fixed conversion price of KRW 8,287 from January 23, 2026 to December 23, 2029. New Risk • Jan 20
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 No financial data reported. Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risk Market cap is less than US$100m (₩144.0b market cap, or US$99.2m). New Risk • Nov 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩137.4b (US$98.4m) 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: Major Risk No financial data reported. Minor Risks Share price has been volatile over the past 3 months (9.9% average weekly change). Market cap is less than US$100m (₩137.4b market cap, or US$98.4m). New Risk • Jan 25
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩131.8b (US$98.7m) 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 Risk No financial data reported. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (₩131.8b market cap, or US$98.7m).