SK Bioscience, a company that develops vaccines and produces biopharmaceuticals on a contract basis, has been found to be the best-performing IPO in the world in 2021.According to a report by Bloomberg, SK Bioscience is the top gainer among the initial public offerings that raised more than $1 billi
The author is an analyst of NH Investment & Securities. He can be reached at will.byun@nhqv.com. -- Ed. A reorganization in governance structure is expected for POSCO, in which a holding company POSCO is separated and listed and holds a 100% stake in unlisted operating subsidiary POSCO. Such governa
The author is an analyst of NH Investment & Securities. He can be reached at midas.sohn@nhqv.com. -- Ed. IONES’s share price fell after the announcement of a change in its largest shareholder. But, noting that the firm’s fundamentals remain intact, we view the drop as representing a good buying oppo
The authors are analysts of Shinhan Investment Corp. They can be reached at jinmyung.lee93@shinhan.com and cgh815@shinhan.com, respectively. -- Ed. Cost burden to weigh on short-term earnings but ease graduallyHyosung Chemical’s earnings are forecast to decline QoQ in 4Q21 due to cost increases from
Korean shipbuilders accounted for 58 percent of the global ship orders in November, taking the No. 1 position for the second consecutive month. The average unit price of ships ordered to Korean shipbuilders was 3.5 times that of Chinese shipbuilders as Korean shipbuilders focused on high value-added
The Bank of Korea announced on Dec. 7 that South Korea’s current account surplus was US$6.9455 billion in October this year, down 39.8 percent from a year ago.“South Korea posted a current account surplus for the 18th consecutive month in October, when international oil and raw material prices were
LG Energy Solution, a battery business subsidiary of LG Chem, has estimated its market capitalization at up to 112 trillion won in a securities report presented to the Financial Services Commission (FSC) on Dec. 7 for the planned initial public offering (IPO). The company compared itself with China’
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. In 2021, New York Stock Exchange pharmaceuticals indices have proved solid, backed by strong profit generation at large pharmas that have benefited from Covid-19. Meanwhile, returns have come in weak
The authors are analysts of Shinhan Investment Corp. They can be reached at hyungwou@shinhan.com and ym.ko@shinhan.com, respectively. -- Ed. 4Q21 forecast: Earnings to continue on a recovery pathWe expect Intops to post operating profit of KRW25.7bn (-18% YoY) for 4Q21, with earnings continuing on a
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Leadership reshuffle to help secure technological dominance We maintain BUY and TP of KRW100,000 on SEC. In a leadership reshuffle announced on Dec 7, the company revealed a reorganization of operational struct
The U.S. Federal Trade Commission (FTC) has filed a suit against Nvidia to block its acquisition of Arm, a British semiconductor design company, saying the deal would stifle competition.“The FTC is suing to block the largest semiconductor chip merger in history to prevent a chip conglomerate from st
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Beneficiary of Samsung’s supply chain diversification— On Dec 6, LGD stock closed 6.04% higher (at KRW21,950; 0.55x 2022 P/B) than its previous close, marking the third-largest increase of the year (+7.42% on A
The authors are analysts of Shinhan Investment Corp. They can be reached at shawn1225@shinhan.com and sehunjang@shinhan.com, respectively. – Ed. Strong competitive edge in rapidly-growing global ADC marketLegoChem Biosciences is leading the market for antibody-drug conjugates (ADCs) with its next-ge
Korean shipbuilders won 91 percent of the global orders for liquefied natural gas (LNG) carriers in the January-November period of 2021.The cumulative worldwide shipbuilding orders totaled 44,988,224 CGT during the first 11 months of the year, said Clarkson Research, a British shipbuilding and shipp
The authors are analysts of Shinhan Investment Corp. They can be reached at doyeon@shinhan.com and hyon@shinhan.com, respectively. – Ed. Awaiting momentum call to follow valuation callSemiconductor stocks tend to rise on valuation call when there are no more negatives and on momentum call when there
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. - After a spin-off from SK Telecom (SKT), SK Square resumed trading as a new stock on Nov 29, with a starting price of W82,000. SK Square’s share price tumbled shortly afterwards amid broader sto
POSCO International is moving to take over Australian natural gas producer Senex Energy for 770 billion won to expand its eco-friendly hydrogen business.The company's board of directors will discuss its plan to acquire a 100 percent stake in Senex Energy at a meeting on Dec. 10. POSCO Internatio
Three BTS members -- Jin, RM, and J-Hope -- have sold about 10 billion won worth of HYBE shares. HYBE is BTS’ management company. They sold off some of the shares they received from HYBE chairman Bang Si-hyuk before the company's listing on the stock market.According to the Financial Supervisory
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Strengthened partnership with Samsung Electronics to increase LCD panel orders five-fold— According to Chosun Biz and other media companies (Dec 1), LG Display (LGD) and Samsung Electronics (SEC) will strengthe
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. 4Q21 server DRAM demand stronger than expected— On Dec 1, SEC stock reached KRW74,400, up 4.3% from the previous close but still down 10.4% from KRW83,000 on Jan 4. SEC is up only 8.1% from its 2021 bottom of K