The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.With its acquisition of Bladt, CS Wind has entered the offshore wind substructure arena. We estimate that supply of offshore wind towers and substructures will push up the firm’s overall annual sales
The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.Jeju Air’s 2Q23 results missed consensus due to a significant drop in passenger fares. Amid concerns of a demand peak out, an expansion of short-haul capacity is likely to increase supply burden and
The author is an analyst for NH Investment & Securities. She can be reached at yd.yoon@nhqv.com -- Ed.Kiwoom Securities opted to reflect CFD provisioning in one swoop, relieving short-term burden. With retail investors continuing to trade briskly in 2H23, related profits should expand in 3Q23. With
As the transition from Liquid Crystal Displays (LCD) to Organic Light Emitting Diodes (OLED) in vehicle displays is expected to take place, K-Display, holding over 90% market share, has solidified its position, while Chinese competitors are engaging in pursuit.According to industry sources on Aug. 9
Samsung Electronics and SK hynix have showcased their world-leading NAND flash memory semiconductor technology. SK hynix has taken the lead in NAND industry stacking competition by opening the 300-layer era of NAND for the first time in the industry. Samsung Electronics also attracted attention by i
The author is is an analyst for NH Investment & Securities. He can be reached at jack.baek@nhqv.com -- Ed.With sharp y-y cost increase that continued till 2Q23 likely to slow from 3Q23, the spotlight should once again turn to Hyundai Ezwel’s investment merits. Noting sound 2023 new orders and recent
The author is an analyst for NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.KT shares performed sluggishly in 1H23, affected by concerns towards the absence of a CEO and the government’s telecom company regulations. We expect that business normalization and earnings growt
Samsung Electronics and SK hynix will showcase next-generation memory solutions at the world’s largest flash memory semiconductor event in the United States.The two Korean companies will participate in the Flash Memory Summit 2023, which will be held at the Santa Clara Convention Center on Aug. 8-10
The author is an analyst for NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.We lower our TP on HHS to W60,000. However, considering the value of its cash equivalents and equity holdings, the firm’s EV points to significant undervaluation.Lower TP to W60,000We lower our TP for
The author is an analyst for NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.We raise our TP on CJCJ to W430,000. Believing that the company has passed the bottom in terms of earnings, we see now as being a dip-buying opportunity from a turnaround perspective. A strengthening i
The author is an analyst for NH Investment & Securities. He can be reached at esshim@nhqv.com -- Ed.H.PIO recorded quarterly-high earnings in 2Q23 on the back of an earnings turnaround at its main business and earnings growth at subsidiaries. Led by new brand launches and cash utiliztion, the compan
The Federation of Korean Industries (FKI) has selected Ryu Jin (65), the Chairman of the Poongsan Group, as its next chairman.According to a press release issued on Aug. 6, the FKI stated, “At the upcoming extraordinary general meeting on Aug. 22, the FKI is planning to change the organization’s nam
Samsung Electronics solidified its position as the global market leader in the second quarter of this year by selling over 50 million smartphones. Despite widening the sales gap with Apple, Samsung’s profits from smartphone sales were dwarfed by Apple’s, earning them a critique that they “offer less
Korea Development Bank (KDB), which has been pushing for the merger of Korean Air and Asiana Airlines, has started reviewing alternatives such as the sale to a third party, assuming the failure of the merger process. This move is interpreted as the initiation of “Plan B” after the merger between the
The author is an analyst for Shinhan Securities. She can be reached at hpark@shinhan.com -- Ed.2Q23 review: Booking of mostly one-off costs already knownAmorepacific posted 2Q23 consolidated sales of KRW945.4bn (flat YoY) and operating profit of KRW5.9bn (positive swing YoY). Sales came in line with
The author is an analyst for NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.C&C International achieved its highest-ever quarterly sales in 2Q23, chalking up strong top-line growth in North America (+225% y-y), China (+246% y-y), and at home (+49% y-y). We believe that this
Large Korean companies such as Samsung Electronics, SK hynix and Hyundai Motors spent a record amount of money on lobbying in the United States in the first half of this year, according to OpenSecrets, a nonprofit political fund tracking organization. This is due to the fact that not only U.S. compa
The author is an analyst for NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.Zenonia, Com2uS Holdings’ first game release after its transition to a publishing-based model, is showing healthy early sales. Despite excessive marketing cost execution, we believe that marketing
The author is an analyst for NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.We anticipate the unveiling of specifics regarding Kakao’s AI business model from October. The expansion of advertising in open chat and the Friends Tab should be a key point in the firm’s earning
The author is an analyst for NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.Helped by healthy early sales of Zenonia and MLB 9 Innings Rivals, Com2uS should turn to profit in 3Q23. However, continuing losses at the media arm are hindering both overall earnings and the sha