The author is an analyst for Shinhan Securities. He can be reached at snowKH@shinhan.com -- Ed.Earnings stability improving on subsidiary growth, client diversificationWe believe two major points indicate that the timing is right to accumulate shares in Wonik QnC. The first is solid earnings stabili
The authors are analysts of Shinhan Investment Corp. They can be reached at snowKH@shinhan.com and wonyong.sim@shinhan.com, respectively. -- Ed. 2Q22 operating profit comes in at KRW35.9bn (+47% YoY)Wonik QnC reported operating profit of KRW35.9bn (+47% YoY) on sales of KRW192.2bn (+20% YoY) for 2Q2
The authors are analysts of Shinhan Investment Corp. They can be reached at snowKH@shinhan.com and wonyong.sim@shinhan.com, respectively. -- Ed. Solid performance regardless of the semiconductor market cycleWonik QnC, the bellwether for IT materials, parts, and equipment stocks, is on a structural g
KCC's sales in 2021 are estimated at an all-time high of more than 6 trillion won. The company's sales exceeded 5 trillion won for the first time in history in 2020. In addition, its operating profit is estimated to have jumped from 133.8 billion won to over 500 billion won in 2021.According
The authors are analysts of Shinhan Investment Corp. They can be reached at snowKH@shinhan.com and swoong92@shinhan.com, respectively. -- Ed. 1Q21 OP reported at KRW20bn (+162% YoY)Wonik QnC posted operating profit of KRW20bn (+162% YoY) on sales of KRW142.6bn (+13% YoY) for 1Q21, exceeding our esti
KB Kookmin Bank acquired Prasac Microfinance in Cambodia in April this year. It is currently the only cross-border deal of listed South Korean companies this year. Prasac is the largest micro-lending institution in Cambodia and KB Kookmin Bank acquired 70 percent of the company for 734 billion won.F
Doosan Group and its creditors including Korea Development Bank (KDB) have decided to break Doosan Solus into three divisions and sell them separately. The move followed the absence of Lotte Chemical, a strong potential buyer, in the recent preliminary tender, which dimmed the prospects of the compa
The authors are analysts of Shinhan Investment Corp. They can be reached at snowKH@shinhan.com and swoong92@shinhan.com, respectively. -- Ed. 1Q20 preview: Sales +79% YoY, OP +36% YoYWe now expect Wonik QnC to report sales of KRW127.1bn (+79% YoY) and operating profit of KRW9.8bn (+36%YoY) for 1Q20.
South Korea’s foreign direct investment (FDI) in the United States topped US$10 billion for the fourth consecutive year with an increasing number of South Korean companies running their manufacturing facilities in the United States. According to Reshoring Initiative, the United States’ manufacturing
About a half of the mergers and acquisitions (M&As) carried out by domestic listed firms since 2016 were between affiliates of the same business groups. Inter-affiliate M&As were more frequent especially among conglomerates with an asset of at least 5 trillion won.The Financial Supervisory Service (
Global rating agency Standard & Poor's (S&P) has warned that the credit ratings of South Korean companies can be downgraded this year.S&P released a report on South Korean companies on March 19. “The credit ratings of South Korean companies seem to have entered a cycle of gradual decline from th
In the Korean capital market, private equity funds (PEFs) are no longer “meoktwi,” or eat-and-run capital, or corporate raiders. They have become a major player in the Korean capital market and are changing the nation's industrial landscape.The domestic PEF market has steadily grown since the Ko
KCC, Korea’s leading construction material producer, will acquire U.S.-based Momentive Performance Materials, one of the world’s largest manufacturers of silicone, quarts and ceramics.According to the investment banking industry on September 13, a KCC-led consortium will acquire a 100% stake in Mome
KCC chairman Chung Mong-jin has officially announced his intent to acquire U.S. silicone maker Momentive Performance Materials Inc.Chung issued a personal statement on Sept. 4 to make it clear that KCC Corp., South Korea's largest maker of building materials, will push to take over Momentive as