New Risk • May 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩144.4b (US$99.5m) 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. This is currently the only risk that has been identified for the company. Duyuru • Mar 10
JOYCITY Corporation, Annual General Meeting, Mar 26, 2026 JOYCITY Corporation, Annual General Meeting, Mar 26, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 257, saemaeul-ro, bundang-gu, gyeonggi-do, seongnam South Korea Reported Earnings • Nov 19
Third quarter 2025 earnings released: ₩34.00 loss per share (vs ₩8.00 loss in 3Q 2024) Third quarter 2025 results: ₩34.00 loss per share (further deteriorated from ₩8.00 loss in 3Q 2024). Revenue: ₩26.5b (down 22% from 3Q 2024). Net loss: ₩2.37b (loss widened 349% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. New Risk • Oct 13
New major risk - Revenue and earnings growth Earnings have declined by 51% 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 Risks Debt is not well covered by operating cash flow (0.8% operating cash flow to total debt). Earnings have declined by 51% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩126.7b market cap, or US$88.8m). New Risk • Sep 01
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 0.8% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (0.8% operating cash flow to total debt). Minor Risk Market cap is less than US$100m (₩123.0b market cap, or US$88.7m). New Risk • Jul 25
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 8.2% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Share price has been volatile over the past 3 months (8.2% average weekly change). Reported Earnings • Mar 22
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: ₩79.00 loss per share (down from ₩80.00 profit in FY 2023). Revenue: ₩142.8b (down 4.5% from FY 2023). Net loss: ₩5.55b (down 201% from profit in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Entertainment industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 42% per year, which means it is performing significantly worse than earnings. Duyuru • Mar 08
JOYCITY Corporation, Annual General Meeting, Mar 26, 2025 JOYCITY Corporation, Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 257, saemaeul-ro, bundang-gu, gyeonggi-do, seongnam South Korea Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩1,739, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 20x in the Entertainment industry in South Korea. Total loss to shareholders of 80% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩3,382 per share. 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 Risk Market cap is less than US$100m (₩123.3b market cap, or US$93.7m). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩1,730, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 16x in the Entertainment industry in South Korea. Total loss to shareholders of 78% over the past three years. Major Estimate Revision • May 10
Consensus EPS estimates fall by 19% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ₩171.0m to ₩163.4m. EPS estimate also fell from ₩212 per share to ₩172 per share. Net income forecast to grow 118% next year vs 28% growth forecast for Entertainment industry in South Korea. Consensus price target down from ₩3,900 to ₩3,500. Share price was steady at ₩2,535 over the past week. Reported Earnings • Mar 22
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: ₩80.00 (up from ₩47.00 in FY 2022). Revenue: ₩149.6b (down 8.6% from FY 2022). Net income: ₩5.51b (up 73% from FY 2022). Profit margin: 3.7% (up from 1.9% in FY 2022). Revenue exceeded analyst estimates by 7.7%. Earnings per share (EPS) missed analyst estimates by 29%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Entertainment industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. New Risk • Jan 30
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 8.1% 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 Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Minor Risk Share price has been volatile over the past 3 months (8.1% average weekly change). Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ₩3,465, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 15x in the Entertainment industry in South Korea. Total loss to shareholders of 50% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩5,382 per share. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩2,720, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 18x in the Entertainment industry in South Korea. Total loss to shareholders of 44% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩1,678 per share. Price Target Changed • Apr 27
Price target decreased to ₩8,667 Down from ₩10,000, the current price target is provided by 1 analyst. New target price is 17% above last closing price of ₩7,400. Stock is up 12% over the past year. The company is forecast to post earnings per share of ₩508 for next year compared to ₩104 last year. Buying Opportunity • Apr 12
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 5.9%. The fair value is estimated to be ₩10,759, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 75% in 2 years. Earnings is forecast to grow by 369% in the next 2 years. Buying Opportunity • Mar 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 2.0%. The fair value is estimated to be ₩10,681, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% per annum over the last 3 years. The company has become profitable over the last 3 years. Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment improved over the past week After last week's 17% share price gain to ₩9,450, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 19x in the Entertainment industry in South Korea. Total returns to shareholders of 246% over the past three years. Buying Opportunity • Feb 15
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.7%. The fair value is estimated to be ₩10,449, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% per annum over the last 3 years. The company has become profitable over the last 3 years. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improved over the past week After last week's 16% share price gain to ₩9,490, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 25x in the Entertainment industry in South Korea. Total returns to shareholders of 222% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩12,710 per share. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₩12,550, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 23x in the Entertainment industry in South Korea. Total returns to shareholders of 244% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩18,930 per share. Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment improved over the past week After last week's 16% share price gain to ₩15,800, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 37x in the Entertainment industry in South Korea. Total returns to shareholders of 321% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩20,104 per share. Major Estimate Revision • Jul 29
Consensus EPS estimates fall to ₩495 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from ₩239.0m to ₩226.0m. EPS estimate also fell from ₩787 to ₩495. Net income forecast to grow 104% next year vs 59% growth forecast for Entertainment industry in South Korea. Consensus price target up from ₩12,000 to ₩15,000. Share price rose 2.9% to ₩12,450 over the past week. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improved over the past week After last week's 21% share price gain to ₩11,700, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Entertainment industry in South Korea. Total returns to shareholders of 146% over the past three years. Major Estimate Revision • Apr 27
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from ₩267.7m to ₩236.0m. EPS estimate unchanged from ₩672 per share at last update. Entertainment industry in South Korea expected to see average net income growth of 45% next year. Consensus price target of ₩12,000 unchanged from last update. Share price was steady at ₩9,670 over the past week. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₩9,260, the stock is trading at a trailing P/E ratio of 20.3x, down from the previous P/E ratio of 24.6x. This compares to an average P/E of 23x in the Entertainment industry in South Korea. Total returns to shareholders over the past three years are 83%. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 22% share price gain to ₩11,650, the stock is trading at a trailing P/E ratio of 25.5x, up from the previous P/E ratio of 20.9x. This compares to an average P/E of 21x in the Entertainment industry in South Korea. Total returns to shareholders over the past three years are 153%. Duyuru • Dec 18
JOYCITY Announces Release of '3On3 Freestyle: Rebound on Korea/Hong Kong/Taiwan/Macao Region JOYCITY announced that '3on3 Freestyle: Rebound' will officially be released in South Korea, and the regions of Hong Kong, Taiwan and Macao on Steam. '3on3 FreeStyle: Rebound' (launched on Steam this July) is a PC remaster of '3on3 FreeStyle' which has been loved by millions of console players all over the globe. The PC version features the iconic signature of the FreeStyle series, 3vs3 street basketball. With the game now released in the regions of South Korea, Hong Kong, Taiwan and Macao, more players can jump into the world of '3on3 FreeStyle: Rebound'. In time with the excitement of the new region release in full swing, 3on3's 'Battle Pass' comes back to greet the winter season with full-on animal suit costume sets. The Battle Pass has a tradition of introducing new costume sets every season, along with exclusive rewards respective to their unique, seasonal themes. For this winter season, players can unlock the new, exclusive animal costume sets along with the Intensive Manual, Random Platinum Card Packs, and other exciting rewards. In addition, various events will be held in conjunction with the recent cross-play update. Players joining from the new regions can participate in the on-going events as well. A special 'Together Buff Ball' item will be awarded to all players who login staring now, until January 12th, and more valuable rewards will be provided through the 'Mission: Possible!' events. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment improved over the past week After last week's 46% share price gain to ₩27,600, the stock is trading at a trailing P/E ratio of 20.1x, up from the previous P/E ratio of 13.8x. This compares to an average P/E of 20x in the Entertainment industry in South Korea. Total returns to shareholders over the past three years are 101%. Is New 90 Day High Low • Dec 07
New 90-day low: ₩18,900 The company is down 12% from its price of ₩21,600 on 08 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 6.0% over the same period. Valuation Update With 7 Day Price Move • Nov 02
Market bids up stock over the past week After last week's 19% share price gain to ₩22,700, the stock is trading at a trailing P/E ratio of 17x, up from the previous P/E ratio of 14.2x. This compares to an average P/E of 21x in the Entertainment industry in South Korea. Total returns to shareholders over the past three years are 62%. Duyuru • Oct 29
JOYCITY Corporation announced that it has received KRW 20.00003772 billion in funding from NDream Co.,Ltd., Korea Investment Partners Co. Ltd., and another investor On October 28, 2020, JOYCITY Corporation (KOSDAQ:A067000) closed the transaction. Duyuru • Oct 20
JOYCITY Corporation announced that it expects to receive KRW 20.00003772 billion in funding from NDream Co.,Ltd., Korea Investment Partners Co. Ltd. and another investor JOYCITY Corporation (KOSDAQ:A067000) announced a private placement of 1,039,503 common shares at a price of KRW 19,240 per share for gross proceeds of KRW 20,000,037,720 on October 19, 2020. The shares have a par value of KRW 500 per share. The company will issue the securities on thrid party allotment basis. The transaction will include participation from returning investor NDream Co.,Ltd. for 831,601 shares, Korea Investment Partners Co. Ltd. for 103,951 shares and Teles No. 1 Association for 103,951 shares. The company will issue the shares at a discount rate of 10% to the base price. The payment date for the shares to be issued in the transaction in October 28, 2020. The shares to be issued in the transaction are subject to a hold period of one year. The transaction was approved by the board of directors of the company. Is New 90 Day High Low • Sep 28
New 90-day high: ₩23,700 The company is up 33% from its price of ₩17,800 on 30 June 2020. The South Korean market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is up 12% over the same period. Duyuru • Aug 18
JOYCITY Corporation has completed a Follow-on Equity Offering in the amount of KRW 10.000001 billion. JOYCITY Corporation has completed a Follow-on Equity Offering in the amount of KRW 10.000001 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,375,516
Price\Range: KRW 7270
Transaction Features: Subsequent Direct Listing 
