New Risk • Jun 01
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩147.7b (US$97.9m) 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 35% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (21% increase in shares outstanding). Market cap is less than US$100m (₩147.7b market cap, or US$97.9m). Duyuru • Mar 06
Chemtros Co., Ltd., Annual General Meeting, Mar 31, 2026 Chemtros Co., Ltd., Annual General Meeting, Mar 31, 2026, at 08:00 Tokyo Standard Time. Location: conference room, 28, byeolmang-ro 207beon-gil, danwon-gu, gyeonggi-do, ansan South Korea New Risk • Feb 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 21% 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 Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 0.7% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.8% net profit margin). Shareholders have been diluted in the past year (21% increase in shares outstanding). New Risk • Jan 01
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 12% 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 (12% average weekly change). Earnings have declined by 0.7% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.8% net profit margin). New Risk • Dec 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 10% 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 Earnings have declined by 0.7% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (₩139.4b market cap, or US$95.0m). New Risk • Nov 27
New major risk - Revenue and earnings growth Earnings have declined by 0.7% 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 0.7% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (₩103.3b market cap, or US$70.7m). Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩4,540, the stock trades at a trailing P/E ratio of 23.4x. Average trailing P/E is 10x in the Chemicals industry in South Korea. Total loss to shareholders of 53% over the past three years. Duyuru • Mar 05
Chemtros Co., Ltd., Annual General Meeting, Mar 31, 2025 Chemtros Co., Ltd., Annual General Meeting, Mar 31, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 28, byeolmang-ro, danwon-gu, gyeonggi-do, ansan South Korea Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩5,050, the stock trades at a trailing P/E ratio of 34.3x. Average trailing P/E is 11x in the Chemicals industry in South Korea. Total loss to shareholders of 45% over the past three years. New Risk • Dec 20
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 9.5% 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 (9.5% average weekly change). Market cap is less than US$100m (₩121.1b market cap, or US$83.7m). Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₩4,060, the stock trades at a trailing P/E ratio of 27.6x. Average trailing P/E is 10x in the Chemicals industry in South Korea. Total loss to shareholders of 64% over the past three years. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩3,930, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 10x in the Chemicals industry in South Korea. Total loss to shareholders of 75% over the past three years. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₩4,420, the stock trades at a trailing P/E ratio of 26.4x. Average trailing P/E is 13x in the Chemicals industry in South Korea. Total loss to shareholders of 54% over the past three years. New Risk • May 25
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 25% 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. This is currently the only risk that has been identified for the company. Duyuru • Apr 30
Chemtros Co., Ltd. announced that it expects to receive KRW 35 billion in funding from Nohnpartners Co. Ltd Chemtros Co., Ltd. announced a private placement of series 5 bearer-bearing non-guaranteed private placement non-separable convertible bonds with warrants for the gross proceeds of KRW 35,000,000,000 on April 29, 2024. The transaction will include participation from new investor Nohnpartners Co. Ltd. The bonds carry a coupon rate of 0% and maturity rate of 4% and will mature on June 28, 2034. The bonds are fully convertible into 5,065,123 common shares at a conversion price of KRW 6,910 per share from June 28, 2025 to May 28, 2034. The transaction has been approved by the shareholders of the company and is expected to close on June 28, 2024. The bonds are restricted to a hold period of 1 year. Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩8,040, the stock trades at a trailing P/E ratio of 65.4x. Average trailing P/E is 16x in the Chemicals industry in South Korea. Total returns to shareholders of 11% over the past three years. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩7,540, the stock trades at a trailing P/E ratio of 61.3x. Average trailing P/E is 17x in the Chemicals industry in South Korea. Total returns to shareholders of 12% over the past three years. Buying Opportunity • Nov 08
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be ₩7,383, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 41%. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩6,020, the stock trades at a trailing P/E ratio of 51x. Average trailing P/E is 14x in the Chemicals industry in South Korea. Negligible returns to shareholders over past three years. Buying Opportunity • Oct 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 30%. The fair value is estimated to be ₩7,178, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 41%. Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩10,260, the stock trades at a trailing P/E ratio of 71.5x. Average trailing P/E is 14x in the Chemicals industry in South Korea. Total returns to shareholders of 344% over the past three years. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩11,340, the stock trades at a trailing P/E ratio of 79x. Average trailing P/E is 14x in the Chemicals industry in South Korea. Total returns to shareholders of 503% over the past three years. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to ₩10,580, the stock trades at a trailing P/E ratio of 67.7x. Average trailing P/E is 12x in the Chemicals industry in South Korea. Total returns to shareholders of 312% over the past three years. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₩7,750, the stock trades at a trailing P/E ratio of 56.5x. Average trailing P/E is 12x in the Chemicals industry in South Korea. Total returns to shareholders of 112% over the past three years. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩10,150, the stock trades at a trailing P/E ratio of 73.9x. Average trailing P/E is 13x in the Chemicals industry in South Korea. Total returns to shareholders of 208% over the past three years. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improved over the past week After last week's 37% share price gain to ₩10,100, the stock trades at a trailing P/E ratio of 67x. Average trailing P/E is 14x in the Chemicals industry in South Korea. Total returns to shareholders of 140% over the past three years. Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩6,970, the stock trades at a trailing P/E ratio of 46.2x. Average trailing P/E is 13x in the Chemicals industry in South Korea. Total returns to shareholders of 152% over the past three years. Reported Earnings • May 18
First quarter 2022 earnings released: EPS: ₩48.00 (vs ₩64.00 in 1Q 2021) First quarter 2022 results: EPS: ₩48.00 (down from ₩64.00 in 1Q 2021). Revenue: ₩14.9b (up 37% from 1Q 2021). Net income: ₩1.28b (down 24% from 1Q 2021). Profit margin: 8.6% (down from 15% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩9,200, the stock trades at a trailing P/E ratio of 58.5x. Average trailing P/E is 16x in the Chemicals industry in South Korea. Total returns to shareholders of 227% over the past three years. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improved over the past week After last week's 30% share price gain to ₩13,250, the stock trades at a trailing P/E ratio of 79.1x. Average trailing P/E is 19x in the Chemicals industry in South Korea. Total returns to shareholders of 265% over the past three years. Is New 90 Day High Low • Mar 08
New 90-day low: ₩5,800 The company is down 3.0% from its price of ₩5,980 on 08 December 2020. The South Korean market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 14% over the same period. Duyuru • Feb 26
Chemtros Co., Ltd., Annual General Meeting, Mar 26, 2021 Chemtros Co., Ltd., Annual General Meeting, Mar 26, 2021, at 09:00 Korea Standard Time. Is New 90 Day High Low • Jan 04
New 90-day high: ₩7,700 The company is up 25% from its price of ₩6,180 on 06 October 2020. The South Korean market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 22% over the same period.