GS Engineering & Construction (GS E&C) announced on the 11th that its subsidiary, GS Inima, has secured the Shuweihat S4 Reverse Osmosis Independent Water Project ordered by the UAE's Water and Electricity Authority (EWEC).This newly secured contract, valued at approximately 920 billion won, is
Aiitone, a KOSDAQ-listed company, participated in the first global STO (Security Token Offerings) forum held in Korea and presented a blueprint for the era of STOs.Aiitone (230980, CEO Jin Yeop Lee), a fintech company based on block chain technology, participated in the Tokenomy Korea 2023 Internati
The author is an analyst for Shinhan Securities. He can be reached at ldh@sinhan.com -- Ed.Materials/industrial goods industry outlook for summer 2023We maintain our OVERWEIGHT view on materials and industrial goods industries for the summer (June-August) of 2023. We believe earnings will continue t
SK Geo Centric (“SKGC”) and Loop Industries (“Loop”), a clean technology company whose mission is to accelerate a circular plastics economy by manufacturing 100% recycled polyethylene terephthalate (“PET”) plastic and polyester fiber, today announced they have signed a definitive Joint Venture Agree
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.com -- Ed.Samsung Biologics posted non-consolidated 1Q23 OP of W234.4bn, slightly beating consensus. We switch our valuation method from DCF to EV/EBITDA to reflect higher profit visibility and plant #5 effects
The author is an analyst of NH Investment & Securities. He can be reached at jaekwang.rhee@nhqv.com -- Ed.Although lowering our TP, we stick to a Buy rating on LIG Nex1. From a mid/long-term perspective, we view LIG Nex1’s shares as being undervalued at their current price point. A record-high order
Hyundai E&C (Hyundai Engineering & Construction) will actively advance into overseas markets by strengthening its eco-friendly smart farm technology.To prepare a foothold for overseas expansion, the company signed a strategic MOU with Korea Rural Community Corp. on Feb. 20 at its headquarters in Seo
Hyundai E&C and Hyundai Engineering have recently proved their competitiveness as EPC (engineering, procurement, and construction) contractors by jointly winning S-Oil's Shaheen Project. Taking this cooperation as an opportunity, they are expected to cooperate further to win large-scale petroche
The author is an analyst of KB Securities. He can be reached at moonjoon.chang@kbfg.com. -- Ed. Maintain BUY but cut target price to KRW45,000 We maintain BUY on Hyundai E&C but cut our TP by 18.2% to KRW45,000 (0.62x 12m fwd P/B) to reflect an increase in COE (9.1%→10.0%) and decline in ROE (7.8%→7
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. We expect Samsung Biologics to post non-consolidated 3Q22 OP of W307.1bn, topping consensus by 36% thanks to amicable forex market conditions and stronger-than-expected leverage effects. Moving ahead
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com. -- Ed. Doosan Corp’s liquidity issues have been successfully addressed. Moving ahead, growth potential should strengthen for the firm on stable in-house business (led by electronics), recognition of T
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com. -- Ed. Doosan Corp’s liquidity issues have been successfully addressed. Going forward, growth potential is to strengthen for the firm thanks to stable in-house businesses (led by electronics), recogni
The author is an analyst of Shinhan Investment Corp. She can be reached at sunmi.kim@shinhan.com. -- Ed. Silently in motionNew apartment presales doing well so farThere have been no notable issues for major domestic construction companies in 2Q22. As of June, new apartment presales of top-tier build
Doosan Group announced on May 25 that it will invest five trillion won in energy fields, including small modular reactors (SMRs), gas turbines, hydrogen turbines and hydrogen fuel cell, over the next five years.The group plans to focus on the development of SMRs, which emerged as one of the main pil
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com. -- Ed. Doosan Corp’s liquidity issues have been successfully addressed. Moving ahead, growth potential should strengthen for the firm on stable in-house business (led by electro-materials), recognitio
The author is an analyst of KB Securities. He can be reached at moonjoon.chang@kbfg.com. -- Ed. 1Q22 review: Sluggish results on weak earnings at subsidiary DL Construction — DL E&C results fell far short of market expectations, with 1Q22P consolidated revenue of KRW1.51tn (-10.9% YoY, -31.2% QoQ),
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. We expect Samyang Foods’ earnings to rebound from 4Q21, backed by a partial easing in shipping congestion and by ASP markup effects. In 2022, the firm is to display a full earnings turnaround, support
The author is an analyst of KB Securities. She can be reached at hyejung.jung@kbfg.com. -- Ed 2Q21P consolidated OP of KRW545.3bn (+3,803.4% YoY): Above consensus — Hyundai Steel announced 2Q21P consolidated revenue of KRW5.6tn (+36.7% YoY, +14.1% QoQ), OP of KRW545.3bn (+3,803.4% YoY, +79.4% QoQ; O
The author is an analyst of NH Investment & Securities. He can be reached at jack.baek@nhqv.com. -- Ed. Eagon Industrial has enjoyed a rapid uptick in profits thanks to price hikes for the plywood products of its Chilean subsidiary. In 1Q21, prices for both domestic (Chile) and export plywood rose b
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. With the pace of reconstruction projects largely depending on government policies, we expect the number of apartments available for reconstruction to climb by more than 15% pa on average through