The author is an analyst of NH Investment & Securities. He can be reached at kyeongkeun.kang@nhqv.com. -- Ed. Copus’s drama production capabilities should strengthen in line with its planned takeover of Kim Jong-Hak Production. We expect Copus’s annual number of drama productions to expand to 6~9 dr
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Favorable investment points remaining intact for KEPCO include both the likely adjustment of Korea’s electricity rate likely to an appropriate level and the firm’s competitive advantage in nuclea
The author is a strategist of NH Investment & Securities. He can be reached at lawrence.kim@nhqv.com. -- Ed. When will the stock market bottom out? A range of leading economic indicators and long-short yield spreads are signaling that an economic recession is imminent. In general, once the real econ
The author is an analyst of NH Investment & Securities. He can be reached at jack.baek@nhqv.com. -- Ed. Daedong Corp boasts the largest market share among Korean agricultural machinery manufacturers. It is planning to expand its business scope, including entering the smart mobility arena, with the u
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. We estimate that LS ELECTRIC’s OP upped 8.0% y-y in 2Q22 to W50.9bn. Given the firm’s ample order backlogs for solar power projects and power infrastructure, its OP is projected to jump 22% y-y i
The author is an analyst of NH Investment & Securities. He can be reached at soohong.cho@nhqv.com. -- Ed. In the short term, Hyundai Mobis should enjoy utilization rate improvement on a recovery of finished car production in 2H22. In the long term, we foresee both top-line growth at the electrificat
Hitotsubashi University emeritus professor Yukio Noguchi remarked on July 24 that Japan is becoming poorer than South Korea as the value of the yen is continuing to fall along with the competitiveness of Japanese industries.“When the current exchange rates are applied to the 2020 GDPs per capita, So
The authors are analysts of Shinhan Investment Corp. They can be reached at jinmyung.lee93@shinhan.com and cgh815@shinhan.com, respectively. -- Ed. 2Q22 OP to exceed consensus at KRW2.16tr (+31% QoQ)SK Innovation is expected to have registered operating profit of KRW2.16tr (+31% QoQ) for 2Q22, beati
The author is an analyst of NH Investment & Securities. He can be reached at sw.kang@nhqv.com. -- Ed. US TB markets are beginning to price in recession probability in addition to high inflation and monetary tightening. Accordingly, we expect the KTB market to become more sensitive to economic downtu
The author is an analyst of NH Investment & Securities. He can be reached at minwoo.ju@nhqv.com. -- Ed.SiOx capacity to rise to as high as 80,000With rechargeable battery makers expected to start applying SiOx in earnest from 2024, we believe that Daejoo offers the strongest growth potential among d
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com. -- Ed. Affected by tepid share price performances for CJ ENM and CJ CGV, CJ Corp’s shares are trading at a 59% discount to NAV. But, we positively view business portfolio improvement efforts, led by C
The author is an analyst of NH Investment & Securities. She can be reached at yd.yoon@nhqv.com. -- Ed. Although we lower our TP on Kiwoom from W130,000 to W105,000 in reflection of a general slowdown in the securities industry, we adhere to a Buy rating, as: 1) the firm’s brokerage competitiveness s
The author is an analyst of KB Securities. He can be reached at jk.lim@kbfg.com. -- Ed. Expect market rate to peak around August MPC meetingKTB yields are likely to continue to be volatile, as the BoK MPC is expected to take a stronger stance (+50bps) against inflation and rising consumer prices. Ex
The authors are economists at Shinhan Investment Corp. They can be reached at chee@shinhan.com. – Ed. Fears over repeat of the China-triggered crisis of 2016Concerns are rising over the decoupling of monetary policies between the US and China. The 2Y US Treasury yield has increased further to exceed
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. In 2Q22, combined ratio at DB Insurance should arrive at the sound level of 99.6%, holding steady from 1Q22. Going forward, the firm’s robust earnings and strong dividends are to enjoy increasing att
The author is an analyst of NH Investment & Securities. He can be reached at kyuha.lee@nhqv.com. -- Ed. Innox AMC’s share price has slid as of late amid market fears that OLED TV shipments will slow amid an economic downturn. But, such fears look overblown given likely sound earnings momentum in 2H2
The author is an analyst of NH Investment & Securities. He can be reached at kyuha.lee@nhqv.com. -- Ed. In March, China’s smartphone shipments declined sharply y-y. We expect that sluggish shipment figures will continue in 2Q22, mainly due to lockdown effects. Anticipating a meaningful recovery in S
The author is an analyst of NH Investment & Securities. He can be reached at midas.sohn@nhqv.com. -- Ed. KNJ is expanding its production line for SiC focus rings following the approval of a global IDM, with additional approval anticipated this year. The company has earmarked through 1H23 a total of
EOFlow Co., a provider of wearable drug delivery solutions, announced its first-quarter financial results ended on March 31, 2022.The company posted Q1 revenue of 949 million won, which is equivalent to 136.9 percent of the last year’s annual revenue. Since EOFlow’s official launch of the world’s se
The author is an analyst of NH Investment & Securities. He can be reached at jooyh@nhqv.com. -- Ed. HDS’s department store earnings improved significantly in 1Q22, offsetting its disappointing DFS results. In 2Q22, its department store earnings should continue to strengthen, spearheaded by the fashi