New Risk • Mar 18
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 Risks 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. Earnings have declined by 60% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩26.4b market cap, or US$17.7m). Reported Earnings • Mar 18
Full year 2025 earnings released: ₩143 loss per share (vs ₩205 loss in FY 2024) Full year 2025 results: ₩143 loss per share (improved from ₩205 loss in FY 2024). Revenue: ₩62.9b (down 11% from FY 2024). Net loss: ₩1.14b (loss narrowed 30% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Duyuru • Feb 20
FINEDIGITAL Inc., Annual General Meeting, Mar 20, 2026 FINEDIGITAL Inc., Annual General Meeting, Mar 20, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 808, seongnam-daero, bundang-gu, gyeonggi-do, seongnam South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 13 April 2026. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.6%. Lower than top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (1.1%). Declared Dividend • Nov 08
Dividend of ₩50.00 announced Dividend of ₩50.00 is the same as last year. Ex-date: 29th December 2025 Payment date: 13th April 2026 Dividend yield will be 1.5%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (41% cash payout ratio). The dividend has remained flat since 8 years ago. However, payments have been volatile during that time. Duyuru • Nov 07
FINEDIGITAL Inc. announces Annual dividend, payable on April 13, 2026 FINEDIGITAL Inc. announced Annual dividend of KRW 50.0000 per share payable on April 13, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Reported Earnings • Mar 15
Full year 2024 earnings released: ₩205 loss per share (vs ₩268 profit in FY 2023) Full year 2024 results: ₩205 loss per share (down from ₩268 profit in FY 2023). Revenue: ₩70.8b (down 19% from FY 2023). Net loss: ₩1.63b (down 177% from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Duyuru • Feb 25
FINEDIGITAL Inc., Annual General Meeting, Mar 21, 2025 FINEDIGITAL Inc., Annual General Meeting, Mar 21, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 164, yanghyeon-ro, bundang-gu, gyeonggi-do, seongnam South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 14 April 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (1.7%). Declared Dividend • Nov 15
Dividend of ₩50.00 announced Shareholders will receive a dividend of ₩50.00. Ex-date: 27th December 2024 Payment date: 14th April 2025 Dividend yield will be 1.5%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by both earnings (43% earnings payout ratio) and cash flows (74% cash payout ratio). The dividend has remained flat since 7 years ago. However, payments have been volatile during that time. Earnings per share has grown by 5.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: ₩268 (vs ₩231 loss in FY 2022) Full year 2023 results: EPS: ₩268 (up from ₩231 loss in FY 2022). Revenue: ₩87.7b (down 3.7% from FY 2022). Net income: ₩2.13b (up ₩3.97b from FY 2022). Profit margin: 2.4% (up from net loss in FY 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Dec 20
Upcoming dividend of ₩50.00 per share at 1.0% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 15 April 2024. Payout ratio is a comfortable 29% 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 (1.3%). Upcoming Dividend • Dec 21
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 17 April 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (1.2%). Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improved over the past week After last week's 20% share price gain to ₩5,770, the stock trades at a trailing P/E ratio of 74.6x. Average trailing P/E is 13x in the Communications industry in South Korea. Total returns to shareholders of 42% over the past three years. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improved over the past week After last week's 18% share price gain to ₩7,870, the stock trades at a trailing P/E ratio of 26.9x. Average trailing P/E is 17x in the Communications industry in South Korea. Total returns to shareholders of 138% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 18 April 2022. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (0.8%). Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment improved over the past week After last week's 16% share price gain to ₩6,480, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 15x in the Communications industry in South Korea. Total returns to shareholders of 90% over the past three years. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improved over the past week After last week's 20% share price gain to ₩7,220, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 28x in the Communications industry in South Korea. Total returns to shareholders of 69% over the past three years. Reported Earnings • Mar 17
Full year 2020 earnings released: EPS ₩755 (vs ₩13.00 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₩104.5b (up 8.8% from FY 2019). Net income: ₩6.12b (up ₩6.25b from FY 2019). Profit margin: 5.9% (up from net loss in FY 2019). Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Dec 30
New 90-day high: ₩7,160 The company is up 22% from its price of ₩5,880 on 29 September 2020. The South Korean market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Communications industry, which is up 3.0% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩50.00 Per Share Will be paid on the 14th of April to those who are registered shareholders by the 29th of December. The trailing yield of 0.8% is below the top quartile of South Korean dividend payers (2.6%), but it is higher than industry peers (0.7%). Valuation Update With 7 Day Price Move • Oct 12
Market bids up stock over the past week After last week's 18% share price gain to ₩7,000, the stock is trading at a trailing P/E ratio of 14x, up from the previous P/E ratio of 11.9x. This compares to an average P/E of 24x in the Communications industry in South Korea. Total returns to shareholders over the past three years are 32%. Is New 90 Day High Low • Oct 12
New 90-day high: ₩7,000 The company is up 14% from its price of ₩6,150 on 14 July 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Communications industry, which is also up 14% over the same period.