New Risk • May 18
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 13% 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 Less than 1 year of cash runway based on free cash flow trend (-₩35b free cash flow). Earnings have declined by 11% per year over the past 5 years. Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (₩27.2b market cap, or US$18.1m). Board Change • May 13
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Duyuru • Feb 27
Hansaemk Co.,Ltd., Annual General Meeting, Mar 26, 2026 Hansaemk Co.,Ltd., Annual General Meeting, Mar 26, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 633, nonhyeon-ro, gangnam-gu, seoul South Korea New Risk • Nov 23
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: -₩38b 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 (-₩38b free cash flow). Earnings have declined by 8.4% per year over the past 5 years. Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩28.6b market cap, or US$19.4m). Reported Earnings • Aug 20
Second quarter 2025 earnings released: ₩450 loss per share (vs ₩210 loss in 2Q 2024) Second quarter 2025 results: ₩450 loss per share (further deteriorated from ₩210 loss in 2Q 2024). Revenue: ₩60.8b (down 6.5% from 2Q 2024). Net loss: ₩12.3b (loss widened 114% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. New Risk • Jul 17
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 54% 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 Shares are highly illiquid. Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩46.1b market cap, or US$33.2m). New Risk • May 23
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 12% 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 (12% average weekly change). Market cap is less than US$100m (₩42.7b market cap, or US$31.2m). Reported Earnings • Mar 22
Full year 2024 earnings released: ₩1,432 loss per share (vs ₩234 loss in FY 2023) Full year 2024 results: ₩1,432 loss per share (further deteriorated from ₩234 loss in FY 2023). Revenue: ₩256.3b (down 19% from FY 2023). Net loss: ₩39.3b (loss widened ₩32.9b from FY 2023). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Duyuru • Feb 22
Hansaemk Co.,Ltd., Annual General Meeting, Mar 26, 2025 Hansaemk Co.,Ltd., Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 643, nonhyeon-ro, gangnam-gu, seoul South Korea New Risk • Dec 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.7% 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: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (9.7% increase in shares outstanding). Market cap is less than US$100m (₩35.8b market cap, or US$25.2m). New Risk • Sep 17
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 (11% average weekly change). Market cap is less than US$100m (₩48.6b market cap, or US$37.0m). New Risk • Sep 05
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: Major Risk Less than 1 year of cash runway based on free cash flow trend (-₩14b free cash flow). Minor Risks Share price has been volatile over the past 3 months (9.9% average weekly change). Market cap is less than US$100m (₩59.1b market cap, or US$44.3m). New Risk • Nov 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.7% 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 Risks Less than 1 year of cash runway based on free cash flow trend (-₩16b free cash flow). Earnings have declined by 22% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (9.7% increase in shares outstanding). Market cap is less than US$100m (₩69.8b market cap, or US$53.6m). New Risk • Aug 26
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: -₩20b 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 (-₩20b free cash flow). Earnings have declined by 29% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩66.5b market cap, or US$50.3m). Duyuru • Jun 29
Hansaemk Co.,Ltd. announced that it has received KRW 9.142821725 billion in funding On June 28, 2023, Hansaemk Co.,Ltd., closed the transaction. Reported Earnings • Mar 24
Full year 2022 earnings released: ₩1,979 loss per share (vs ₩2,835 loss in FY 2021) Full year 2022 results: ₩1,979 loss per share. Revenue: ₩271.5b (up 31% from FY 2021). Net loss: ₩37.8b (loss widened 22% from FY 2021). Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 21
Third quarter 2021 earnings released: ₩416 loss per share (vs ₩100.00 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: ₩40.8b (down 11% from 3Q 2020). Net loss: ₩4.55b (loss widened 316% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 21
Full year 2020 earnings released: ₩2,105 loss per share (vs ₩3,877 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: ₩220.2b (down 28% from FY 2019). Net loss: ₩23.0b (loss narrowed 47% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Duyuru • Feb 18
Hansaemk Co.,Ltd., Annual General Meeting, Mar 25, 2021 Hansaemk Co.,Ltd., Annual General Meeting, Mar 25, 2021, at 09:00 Korea Standard Time. Location: Convention Hall, 2F, Eliena Hotel, 645 Nonhyeon-ro Gangnam-Gu South Korea Is New 90 Day High Low • Dec 17
New 90-day high: ₩3,570 The company is up 25% from its price of ₩2,845 on 18 September 2020. The South Korean market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 8.0% over the same period. Is New 90 Day High Low • Nov 26
New 90-day high: ₩3,080 The company is up 15% from its price of ₩2,670 on 28 August 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 10.0% over the same period.