New Risk • Aug 30
New minor risk - Financial data availability Less than 3 years of financial data is available. This is considered a minor risk. If the company has been trading for less than 3 years, then it has not had the opportunity to establish a long-term track record. This makes it difficult for investors to assess the true growth potential, sustainability and resilience of the business under different economic conditions. This is currently the only risk that has been identified for the company. New Risk • Mar 24
New major risk - Revenue and earnings growth Earnings have declined by 29% 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. This is currently the only risk that has been identified for the company. Duyuru • Mar 01
Bioneer Corporation, Annual General Meeting, Mar 31, 2025 Bioneer Corporation, Annual General Meeting, Mar 31, 2025, at 10:30 Tokyo Standard Time. Location: auditorium, 71, techno 2-ro, yuseong-gu, daejeon South Korea New Risk • Dec 09
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. This is currently the only risk that has been identified for the company. New Risk • Jul 08
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: Major Risk Earnings have declined by 2.6% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (9.6% average weekly change). New Risk • May 25
New major risk - Revenue and earnings growth Earnings have declined by 2.6% 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 2.6% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.9% average weekly change). Duyuru • Mar 05
Bioneer Corporation, Annual General Meeting, Mar 28, 2024 Bioneer Corporation, Annual General Meeting, Mar 28, 2024, at 10:30 Korea Standard Time. Location: Auditorium in Bioneer's Global Center 71, Techno 2-ro, Yuseong-gu Daejeon South Korea Agenda: To consider audit and sales report; to consider report on the internal control over financial reporting operations; to consider approval of separate and consolidated financial statements for the 32nd fiscal year; to consider reappointment of Sangjoon kim as an outside director; to consider reappointment of Sanggyu kim as an outside director; to consider reappointment of Hanee park as an inside director; to consider reappointment of Jaeha kim as an inside director; to consider reappointment of Jinpyeong jeong as an inside director; to consider appointment of Joongyeol lee as a new inside director; to consider appointment of auditors; and to consider other issues. Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: ₩18.00 (vs ₩335 in 3Q 2022) Third quarter 2023 results: EPS: ₩18.00 (down from ₩335 in 3Q 2022). Revenue: ₩73.7b (up 35% from 3Q 2022). Net income: ₩475.9m (down 95% from 3Q 2022). Profit margin: 0.6% (down from 16% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩41,350, the stock trades at a trailing P/E ratio of 46x. Average forward P/E is 24x in the Biotechs industry in South Korea. Total returns to shareholders of 245% over the past three years. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩32,000, the stock trades at a trailing P/E ratio of 35.6x. Average forward P/E is 25x in the Biotechs industry in South Korea. Total returns to shareholders of 333% over the past three years. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improved over the past week After last week's 48% share price gain to ₩34,150, the stock trades at a trailing P/E ratio of 42.6x. Average trailing P/E is 24x in the Biotechs industry in South Korea. Total returns to shareholders of 279% 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 ₩24,800, the stock trades at a trailing P/E ratio of 30.9x. Average trailing P/E is 24x in the Biotechs industry in South Korea. Total returns to shareholders of 147% over the past three years. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improved over the past week After last week's 17% share price gain to ₩40,000, the stock trades at a trailing P/E ratio of 18.1x. Average trailing P/E is 34x in the Biotechs industry in South Korea. Total returns to shareholders of 342% over the past three years. 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 ₩36,350, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 33x in the Biotechs industry in South Korea. Total returns to shareholders of 324% over the past three years. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩47,000, the stock trades at a trailing P/E ratio of 21.3x. Average trailing P/E is 40x in the Biotechs industry in South Korea. Total returns to shareholders of 523% over the past three years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment deteriorated over the past week After last week's 21% share price decline to ₩40,150, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 40x in the Biotechs industry in South Korea. Total returns to shareholders of 351% over the past three years. Reported Earnings • Nov 16
Third quarter 2021 earnings released: ₩386 loss per share (vs ₩116 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ₩64.0b (down 13% from 3Q 2020). Net loss: ₩9.74b (down 468% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 77% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩71,500, the stock trades at a trailing P/E ratio of 26x. Average forward P/E is 25x in the Biotechs industry in South Korea. Total returns to shareholders of 571% over the past three years. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 19% share price gain to ₩84,600, the stock trades at a trailing P/E ratio of 29.7x. Average forward P/E is 26x in the Biotechs industry in South Korea. Total returns to shareholders of 558% over the past three years. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improved over the past week After last week's 21% share price gain to ₩67,600, the stock trades at a trailing P/E ratio of 23.7x. Average forward P/E is 33x in the Biotechs industry in South Korea. Total returns to shareholders of 450% over the past three years. Valuation Update With 7 Day Price Move • Aug 09
Investor sentiment improved over the past week After last week's 15% share price gain to ₩40,400, the stock trades at a trailing P/E ratio of 10.2x. Average forward P/E is 29x in the Biotechs industry in South Korea. Total returns to shareholders of 296% over the past three years. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improved over the past week After last week's 20% share price gain to ₩37,300, the stock trades at a trailing P/E ratio of 9.4x. Average forward P/E is 35x in the Biotechs industry in South Korea. Total returns to shareholders of 291% over the past three years. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improved over the past week After last week's 33% share price gain to ₩26,400, the stock trades at a trailing P/E ratio of 6.7x. Average forward P/E is 36x in the Biotechs industry in South Korea. Total returns to shareholders of 188% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩16,100, the stock is trading at a trailing P/E ratio of 18.2x, down from the previous P/E ratio of 21.4x. This compares to an average P/E of 54x in the Biotechs industry in South Korea. Total returns to shareholders over the past three years are 36%. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 16% share price gain to ₩18,600, the stock is trading at a trailing P/E ratio of 21x, up from the previous P/E ratio of 18x. This compares to an average P/E of 57x in the Biotechs industry in South Korea. Total returns to shareholders over the past three years are 90%. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩16,000, the stock is trading at a trailing P/E ratio of 18x, down from the previous P/E ratio of 21.4x. This compares to an average P/E of 55x in the Biotechs industry in South Korea. Total returns to shareholders over the past three years are 78%. Is New 90 Day High Low • Dec 22
New 90-day low: ₩17,650 The company is down 33% from its price of ₩26,450 on 23 September 2020. The South Korean market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is up 14% over the same period. Is New 90 Day High Low • Nov 12
New 90-day low: ₩21,100 The company is down 1.0% from its price of ₩21,300 on 14 August 2020. The South Korean market is up 2.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Biotechs industry, which is down 4.0% over the same period. Valuation Update With 7 Day Price Move • Nov 12
Market pulls back on stock over the past week After last week's 19% share price decline to ₩21,100, the stock is trading at a trailing P/E ratio of 29.7x, down from the previous P/E ratio of 36.7x. This compares to an average P/E of 69x in the Biotechs industry in South Korea. Total returns to shareholders over the past three years are 153%. Valuation Update With 7 Day Price Move • Oct 28
Market pulls back on stock over the past week After last week's 16% share price decline to ₩22,450, the stock is trading at a trailing P/E ratio of 31.6x, down from the previous P/E ratio of 37.8x. This compares to an average P/E of 58x in the Biotechs industry in South Korea. Total returns to shareholders over the past three years are 172%. 
