Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: ₩34.00 (vs ₩245 in FY 2024) Full year 2025 results: EPS: ₩34.00 (down from ₩245 in FY 2024). Revenue: ₩106.5b (down 27% from FY 2024). Net income: ₩1.55b (down 86% from FY 2024). Profit margin: 1.5% (down from 7.7% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Duyuru • Mar 04
Dukshinepc Co., Ltd., Annual General Meeting, Mar 18, 2026 Dukshinepc Co., Ltd., Annual General Meeting, Mar 18, 2026, at 09:00 Tokyo Standard Time. Location: conference room, 485-34, susin-ro, susin-myeon, dongnam-gu, chungcheongnam-do, cheonan South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩20.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 30 March 2026. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of South Korean dividend payers (3.6%). Lower than average of industry peers (2.4%). New Risk • Nov 28
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.5% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Market cap is less than US$100m (₩60.2b market cap, or US$41.0m). New Risk • Aug 27
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 55% 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 Risk High level of non-cash earnings (55% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.5% net profit margin). Market cap is less than US$100m (₩67.1b market cap, or US$48.1m). New Risk • May 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Market cap is less than US$100m (₩72.3b market cap, or US$52.6m). Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩1,741, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 11x in the Metals and Mining industry in South Korea. Total loss to shareholders of 21% over the past three years. Reported Earnings • Feb 28
Full year 2024 earnings released: EPS: ₩245 (vs ₩523 in FY 2023) Full year 2024 results: EPS: ₩245 (down from ₩523 in FY 2023). Revenue: ₩146.6b (down 33% from FY 2023). Net income: ₩11.3b (down 53% from FY 2023). Profit margin: 7.7% (down from 11% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Duyuru • Feb 20
Dukshinepc Co., Ltd., Annual General Meeting, Mar 06, 2025 Dukshinepc Co., Ltd., Annual General Meeting, Mar 06, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 485-34, susin-ro, susin-myeon, dongnam-gu, chungcheongnam-do, cheonan South Korea New Risk • Feb 01
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 9.6% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.6% average weekly change). Market cap is less than US$100m (₩75.4b market cap, or US$51.8m). Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩1,928, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 9x in the Metals and Mining industry in South Korea. Total loss to shareholders of 14% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩30.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 14 April 2025. Payout ratio is a comfortable 7.5% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (2.9%). Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩1,688, the stock trades at a trailing P/E ratio of 4.2x. Average trailing P/E is 9x in the Metals and Mining industry in South Korea. Total loss to shareholders of 19% over the past three years. Reported Earnings • Mar 16
Full year 2023 earnings released: EPS: ₩523 (vs ₩220 in FY 2022) Full year 2023 results: EPS: ₩523 (up from ₩220 in FY 2022). Revenue: ₩218.1b (up 8.2% from FY 2022). Net income: ₩24.1b (up 137% from FY 2022). Profit margin: 11% (up from 5.0% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 20
Upcoming dividend of ₩20.00 per share at 1.0% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 11 April 2024. Payout ratio is a comfortable 4.1% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (2.7%). Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩1,911, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 8x in the Metals and Mining industry in South Korea. Total returns to shareholders of 47% over the past three years. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₩2,820, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 8x in the Metals and Mining industry in South Korea. Total returns to shareholders of 101% over the past three years. Reported Earnings • May 15
First quarter 2023 earnings released: EPS: ₩149 (vs ₩23.00 in 1Q 2022) First quarter 2023 results: EPS: ₩149 (up from ₩23.00 in 1Q 2022). Revenue: ₩54.4b (up 34% from 1Q 2022). Net income: ₩6.86b (up ₩5.78b from 1Q 2022). Profit margin: 13% (up from 2.7% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 19
Full year 2022 earnings released: EPS: ₩220 (vs ₩78.00 in FY 2021) Full year 2022 results: EPS: ₩220 (up from ₩78.00 in FY 2021). Revenue: ₩201.6b (up 32% from FY 2021). Net income: ₩10.2b (up 188% from FY 2021). Profit margin: 5.0% (up from 2.3% in FY 2021). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩1,445, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 5x in the Metals and Mining industry in South Korea. Total returns to shareholders of 7.4% over the past three years. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorated over the past week After last week's 21% share price decline to ₩1,755, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 6x in the Metals and Mining industry in South Korea. Total returns to shareholders of 27% over the past three years. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 15% share price gain to ₩2,110, the stock trades at a trailing P/E ratio of 30.7x. Average trailing P/E is 5x in the Metals and Mining industry in South Korea. Total returns to shareholders of 27% over the past three years. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩2,075, the stock trades at a trailing P/E ratio of 30.2x. Average trailing P/E is 6x in the Metals and Mining industry in South Korea. Total returns to shareholders of 34% over the past three years. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improved over the past week After last week's 19% share price gain to ₩3,030, the stock trades at a trailing P/E ratio of 39.7x. Average trailing P/E is 9x in the Metals and Mining industry in South Korea. Total returns to shareholders of 81% over the past three years. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 16% share price gain to ₩2,235, the stock trades at a trailing P/E ratio of 29.3x. Average trailing P/E is 8x in the Metals and Mining industry in South Korea. Total returns to shareholders of 31% over the past three years. Reported Earnings • Mar 13
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₩78.00 (up from ₩188 loss in FY 2020). Revenue: ₩152.9b (up 24% from FY 2020). Net income: ₩3.52b (up ₩11.4b from FY 2020). Profit margin: 2.3% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩2,015, the stock trades at a trailing P/E ratio of 63.1x. Average trailing P/E is 9x in the Metals and Mining industry in South Korea. Total returns to shareholders of 58% over the past three years. Is New 90 Day High Low • Mar 05
New 90-day low: ₩1,465 The company is down 8.0% from its price of ₩1,600 on 04 December 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 13% over the same period. Is New 90 Day High Low • Jan 21
New 90-day high: ₩1,800 The company is up 42% from its price of ₩1,270 on 23 October 2020. The South Korean market is up 31% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 25% over the same period. Is New 90 Day High Low • Nov 17
New 90-day high: ₩1,430 The company is up 12% from its price of ₩1,280 on 19 August 2020. The South Korean market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 10.0% over the same period. Duyuru • Sep 22
Kim Meong Hwan and seven related parties acquired 47.88% stake in Duckshin Housing Co., Ltd. (KOSDAQ:A090410). Kim Meong Hwan and seven related parties acquired 47.88% stake in Duckshin Housing Co., Ltd. (KOSDAQ:A090410) on August 8, 2014.
Kim Meong Hwan and seven related parties completed the acquisition of 47.88% stake in Duckshin Housing Co., Ltd. (KOSDAQ:A090410) on August 8, 2014.