The author is an analyst of NH Investment & Securities. She can be reached at yd.yoon@nhqv.com. -- Ed. Partnering up with Dunamu and Lambda256, Hanwha I&S has been actively preparing to launch a blockchain business. By utilizing its extensive network, the firm is expected to work with blockchain sta
The author is an analyst of NH Investment & Securities. She can be reached at yd.yoon@nhqv.com. -- Ed. Kiwoom stands to benefit greatly from STO market expansion over the mid/long term, given that it boasts the largest number of retail customers in the country, backed by its strong retail platform.
The author is an analyst of NH Investment & Securities. She can be reached at yd.yoon@nhqv.com. -- Ed. STO market to facilitate expansion of conventional financial marketOn Feb 5, financial authorities announced their STO guidelines, intending to complement the existing financial regulatory sandbox
The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. Raise TP by 14.3% from KRW70,000 to KRW80,000; Maintain BUY We raise our TP 14.3% from KRW70,000 to KRW80,000 and maintain BUY for Kakao. We have reflected slight downward adjustments to 2023E revenue growth
The author is an analyst of KB Securities. He can be reached at cygun101@kbfg.com. -- Ed. Maintain BUY, raise target price to KRW120,000; still industry top pick We maintain BUY and raise our TP by 6.2% to KRW120,000 on Kiwoom Securities given the following:(1) 4Q22 results confirmed a stable earnin
The author is an analyst of KB Securities. He can be reached at cygun101@kbfg.com. -- Ed. Maintain BUY, target price of KRW77,000 We maintain BUY and TP of KRW123,000 on KIH. 4Q22 earnings were hit by large-scale provisioning and valuation losses for non-marketable assets, such as real estate projec
The author is an analyst of KB Securities. He can be reached at yonghyun.choi@kbfg.com. -- Ed.4Q22 review: OP misses market consensus— Studio Dragon posted 4Q22 revenue of KRW190.5bn (+28.8% YoY) and OP of KRW1.2bn (-81.4% YoY; 0.6% OPM), missing the market consensus.— The no. of aired episodes was
The author is an analyst of KB Securities. He can be reached at cygun101@kbfg.com. -- Ed. Mid-/long-term shareholder return policy proportionate to CET1 ratio level— HFG posted 2022 consolidated NP (attributable to controlling interests) of KRW3.6tn (+2.8% YoY).— NII rose 20.0% YoY with growth in bo
The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed.4Q22 earnings miss expectations on non-recurring factors; China market recovery to be keyㅡ HL Mando saw OP miss the market consensus but come roughly in line when excluding non-recurring factors. The effect
The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. HYBE America acquires QC Media Holdingsㅡ HYBE America’s QCM HoldCo LLC announced the acquisition of QC Media Holdings stock.ㅡ The acquisition will be financed with the issuance of new shares worth KRW339.0bn
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Although Doosan Enerbility’s 4Q22 results proved somewhat lackluster due to one-off expenses, the company has set an achievable mid/long-term new order target. In particular, we believe that the
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed.SK Biopharm posted 4Q22 sales of W62.8bn and an operating loss of W44.6bn, with operating income missing consensus on one-off factor (sales discounts). After the expiry of the patent for competing dru
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com. -- Ed. LG Corp is expected to strengthen its business portfolio, using its net cash holdings of W1.6tn for M&As and CVC establishment. Also, its dividend income should rise, leading to a steady increa
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. While sales are falling ahead of the release of new titles, momentum related to TL (to launch in 2Q23) is rising. We recommend using share price dips as buying opportunities. Four new titles sche
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. We anticipate notable earnings growth at KT’s new businesses, including its content, real estate holdings, and AI ventures. CEO appointment should be finalized within March, resolving market conc
The author is an analyst of KB Securities. She can be reached at shinay.park@kbfg.com. -- Ed.Revising up TP to KRW240,000; Upward trend in share price to remain valid in mid/long term We maintain BUY and raise our target price by 9% to KRW240,000 for BGF Retail, as we have revised up 2023E and 2024E
The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed.4Q22 OP in line with expectations; All unfavorable issues now on way to resolutionㅡ Hanon Systems reported 4Q22 OP largely in line with expectations. We believe that lack of parts demand and inflation issue
The author is an analyst of KB Securities. He can be reached at yonghyun.choi@kbfg.com. -- Ed.Maintain BUY; TP raised to KRW130,000 We maintain BUY on CJ ENM and raise our target price by 8.3% to KRW130,000 (15.8% potential upside). Derived using the P/B-ROE model (7.58% 5y avg. ROE), our TP has bee
Doosan Fuel Cell is planning to develop overseas markets to expand its hydrogen business.The company announced on Feb. 9 that it signed a statement of cooperation with the South Australian government and HyAxiom, a subsidiary of Doosan Corp., at the Four Seasons Hotel Seoul in Gwanghwamun to foster
KT Cloud signed a memorandum of understanding (MOU) with Hewlett-Packard Enterprise for cooperation in the IDC integrated infrastructure business.With this agreement, the two companies will introduce services that combine infrastructure/networks, solutions, and marketing/sales capabilities to implem