The authors are analysts of Shinhan Investment Corp. They can be reached at hyungwou@shinhan.com and ym.ko@shinhan.com, respectively. -- Ed. Strong 3Q overshadowed by inventory adjustment concerns for 4QSamsung Electro-Mechanics posted operating profit of KRW457.8bn (+49% YoY) on sales of KRW2.7tr (
The author is an analyst of NH Investment & Securities. He can be reached at soohong.cho@nhqv.com. -- Ed. Considering HMC’s global wholesale sales guidance, a production volume recovery should become highly visible from 4Q21. Amid earnings growth momentum, both strengthening brand status in advanced
The author is an analyst of NH Investment & Securities. He can be reached at kyuha.lee@nhqv.com. -- Ed. Set to be unveiled soon, XR device Oculus Quest Pro is to significantly accelerate the arrival of the 3D metaverse era. With innovative hardware specifications and price competitiveness, the Oculu
The Financial Services Commission revised rules on securities issuance and public announcement related to convertible bonds on Oct. 27.According to the new rules, the call option exercise limit cannot exceed the stake at convertible bond issuance. The option can be defined as a third party’s right t
Samsung Electronics is expected to produce a neural network processing unit (NPU) called an “artificial intelligence (AI) semiconductor” as early as next year in cooperation with two domestic startups.One of the two startups is Qraft Technologies, which is operating four exchange-traded funds (ETFs)
The author is an analyst of KB Securities. He can be reached at drlee@kbfg.com. -- Ed. Maintain BUY; raise target price to KRW240,000 We maintain BUY and raise our TP to KRW240,000 for CJ ENM. Derived using DCF model (8.54% WACC, 1.0% TGR), our TP equates to 25.0x implied P/E. We raise our 2021E-22E
The author is an analyst of KB Securities. He can be reached at cygun101@kbfg.com. -- Ed. Maintain BUY, target price of KRW53,000 We maintain BUY and our TP of KRW53,000 on Shinhan FG. 3Q21 consolidated NP (attributable to controlling interests) came in at KRW1.12tn, in line with the market consensu
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Maintain target price of KRW140,000; parts supply to improve after 1H22 We maintain BUY and our 12m TP of KRW140,000 on SK hynix based on the following: (1) The parts supply chain should improve after 1H22, as
Game company Wemade’s stock price jumped more than 15 percent in a day thanks to its announcement that it would absorb Wemade Tree, a blockchain business subsidiary. Wemade's market capitalization topped 5 trillion won, ranking sixth in the KOSDAQ market.Wemade’s stock price closed at 161,000 wo
The authors are analysts of Shinhan Investment Corp. They can be reached at doyeon@shinhan.com and hyon@shinhan.com, respectively. – Ed. 3Q21 OP estimated at KRW105.7bn (+29.9% QoQ)DB HiTek is expected to deliver another record-high in quarterly results with 3Q21 operating profit likely to come in f
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. LG H&H’s 3Q21 OP grew 4.5% y-y. In addition to high y-y base burden across all business divisions, impacts were felt from logistics disruptions, natural disasters, and the re-spreading of Covid-19. Ho
South Korea and the Philippines finalized their FTA talks and signed a joint declaration on Oct. 26. In addition, South Korea and Cambodia signed their bilateral FTA that day.As a result of the agreement between South Korea and the Philippines, the two countries’ tariff elimination rates will reach
The authors are analysts of Shinhan Investment Corp. They can be reached at jy.son@shinhan.com and bh.lee@shinhan.com, respectively. -- Ed. 3Q21 operating profit to reach KRW33bn (+111.3% YoY)Golfzon is expected to have posted operating profit of KRW33bn (+111.3% YoY) on sales of KRW110.1bn (+38.3%
The author is an analyst of NH Investment & Securities. He can be reached at sw.kang@nhqv.com. -- Ed. With the Fed likely to announce tapering at the upcoming November FOMC, we believe that it will strive to distinguish between tapering and rate hikes. Given such, the chances of policy failure shoul
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. Benefiting from sound CIR and credit cost figures, WFG’s 3Q21 results show its highest-ever consolidated NP for a 3Q. Moreover, share price discount factors such as overhang risk and low capital rati
Mirae Asset Management announced on Oct. 25 that Global X, its ETF operator in the United States, has surpassed US$40 billion in assets under management (AUM).Global X’s AUM stood at US$41.1 billion as of the closing price on Oct. 21, doubling from US$20.9 billion at the end of 2020.ETF.com said tha
Samsung Heavy Industries (SHI) booked orders exceeding 3 trillion won in a week.The company announced on Oct. 25 that it has won orders for four LNG carriers worth 971.3 billion won from a shipping company in the Bermuda region. The price per LNG carrier is US$206 million, the highest since 2015.On
Tesla recently announced that its inexpensive models would come with iron phosphate batteries. This means the use of EV batteries manufactured by Chinese companies is likely to increase with time.“Iron phosphate batteries are inexpensive and yet disadvantageous in terms of weight, energy density and
MBK Partners, the largest private equity fund in Northeast Asia, will acquire a stake in China's theme park operator for about US$1.01 billion.MBK Partners recently acquired a stake in Haichang Ocean Park in China. The investment was made through MBK Partners' Chinese subsidiary.MBK Partners
South Korean unicorns such as Viva Republica, Zigbang, Yanolja and Musinsa are expanding their business by acquiring startups and subsidiaries of larger companies.For example, Viva Republica, which runs Toss, recently acquired Tada in order to expand its business beyond the financial industry and do