New Risk • Mar 29
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: 5.6% Last year net profit margin: 8.6% 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 Risk Earnings have declined by 15% 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 (5.6% net profit margin). Market cap is less than US$100m (₩38.6b market cap, or US$25.6m). Duyuru • Mar 12
KD Chem Co., Ltd., Annual General Meeting, Mar 27, 2026 KD Chem Co., Ltd., Annual General Meeting, Mar 27, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 345, maehwaguin-ro, boeun-eup, boeun-gun, chungcheongbuk-do, South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩500 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 20 April 2026. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 4.6%. Within top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (1.3%). Declared Dividend • Nov 08
Dividend of ₩500 announced Dividend of ₩500 is the same as last year. Ex-date: 29th December 2025 Payment date: 20th April 2026 Dividend yield will be 4.9%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (57% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has not increased over the past 6 years but payments have been stable during that time. The company's earnings per share (EPS) would need to decline by 37% to shift the payout ratio to a potentially unsustainable range, which is more than the 13% EPS decline seen over the last 5 years. Duyuru • Nov 07
KD Chem Co., Ltd. announces Annual dividend, payable on April 20, 2026 KD Chem Co., Ltd. announced Annual dividend of KRW 500.0000 per share payable on April 20, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. New Risk • Aug 29
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 47% 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: Major Risk Earnings have declined by 12% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₩42.4b market cap, or US$30.5m). Duyuru • Mar 13
KD Chem Co., Ltd., Annual General Meeting, Mar 28, 2025 KD Chem Co., Ltd., Annual General Meeting, Mar 28, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 345, maehwaguin-ro, boeun-eup, boeun-gun, chungcheongbuk-do, South Korea New Risk • Dec 16
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 Risk Market cap is less than US$100m (₩42.5b market cap, or US$29.6m). New Risk • Aug 28
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: 6.7% Last year net profit margin: 13% 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 Risk Earnings have declined by 3.7% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (6.7% net profit margin). Market cap is less than US$100m (₩49.9b market cap, or US$37.4m). New Risk • May 25
New major risk - Revenue and earnings growth Earnings have declined by 1.0% 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 1.0% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₩48.3b market cap, or US$35.4m). Duyuru • Apr 18
KD Chem Co., Ltd. (KOSDAQ:A221980) announces an Equity Buyback for KRW 1,000 million worth of its shares. KD Chem Co., Ltd. (KOSDAQ:A221980) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its shares, pursuant to a contract with Samsung Securities Co., Ltd. The purpose of the program is to enhance shareholder value through stabilizing stock prices. The program will expire on October 15, 2024. As of April 15, 2024, the company had 211,834 shares in treasury within scope available for dividend and had no shares in treasury under other capacities. Upcoming Dividend • Dec 20
Upcoming dividend of ₩430 per share at 3.4% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 15 April 2024. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.8%). New Risk • Jun 15
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩0 (US$0) This is considered a major 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 Market cap is less than US$10m (₩0 market cap, or US$0). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: ₩2,136 (vs ₩2,094 in FY 2021) Full year 2022 results: EPS: ₩2,136 (up from ₩2,094 in FY 2021). Revenue: ₩62.1b (up 15% from FY 2021). Net income: ₩8.16b (up 2.0% from FY 2021). Profit margin: 13% (down from 15% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 8% per year. Upcoming Dividend • Dec 21
Upcoming dividend of ₩500 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 14 April 2023. Payout ratio is a comfortable 25% but the company is not cash flow positive. Trailing yield: 3.7%. Within top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (2.4%). Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improved over the past week After last week's 16% share price gain to ₩16,000, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 13x in the Chemicals industry in South Korea. Total returns to shareholders of 42% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩500 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 18 April 2022. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 2.4%. Within top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (1.4%). Valuation Update With 7 Day Price Move • Nov 26
Investor sentiment improved over the past week After last week's 19% share price gain to ₩20,000, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 17x in the Chemicals industry in South Korea. Total returns to shareholders of 81% over the past three years. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improved over the past week After last week's 24% share price gain to ₩19,700, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 20x in the Chemicals industry in South Korea. Total returns to shareholders of 55% 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 19% share price gain to ₩16,000, the stock trades at a trailing P/E ratio of 7.9x. Average trailing P/E is 18x in the Chemicals industry in South Korea. Total returns to shareholders of 22% over the past three years. Is New 90 Day High Low • Mar 12
New 90-day high: ₩14,250 The company is up 10.0% from its price of ₩13,000 on 11 December 2020. The South Korean market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 13% over the same period. Is New 90 Day High Low • Dec 18
New 90-day high: ₩13,050 The company is up 9.0% from its price of ₩11,950 on 18 September 2020. The South Korean market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 18% over the same period. Is New 90 Day High Low • Nov 05
New 90-day high: ₩12,050 The company is up 2.0% from its price of ₩11,850 on 07 August 2020. The South Korean market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 4.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: ₩11,000 The company is down 7.0% from its price of ₩11,800 on 26 June 2020. The South Korean market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 29% over the same period.