The authors are analysts of Shinhan Investment Corp. They can be reached at idh@shinhan.com and jiunmyoung@shinhan.com, respectively. -- Ed. Takeaways from DX Korea 2022Defense Expo Korea (DX Korea) is a platform for land forces equipment exhibition. This year marks the fifth biennial event since it
The authors are analysts of Shinhan Investment Corp. They can be reached at idh@shinhan.com and jiunmyoung@shinhan.com, respectively. -- Ed. Initiate coverage with BUY for a target price of KRW130,000We initiate our coverage on LIG Nex1 for a target price of KRW130,000. Our target price is based on
The shipping industry is shrinking fast after its boom in the pandemic period as the ongoing global economic recession is leading to demand contraction in a wide variety of industries.This week’s Shanghai Containerized Freight Index is 2,312.65, down 9.7 percent from the previous week. For reference
The author is an analyst of KB Securities. He can be reached at kimtaehee@kbfg.com. -- Ed. Maintain BUY, raise target price to KRW1,200,000; inclusion of Samsung Bioepis in consolidated earnings considered positive We maintain BUY and raise our TP (KRW1,180,000→KRW1,200,000) on Samsung Biologics, as
The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. Initiating coverage with BUY and TP of KRW350,000 We initiate coverage of Naver with a BUY rating and target price of KRW350,000 (49.6% upside). We forecast 2022E-2024E OP CAGR of 20.7%. Derived using the DCF
The Korean startup investment market has enjoyed an unprecedented boom for years but is freezing rapidly, hitting hard startups looking for investment. In July, the number of domestic startup funding cased stood at 135 and the investment amounts totaled 836.9 billion won, according to the Startup Al
The authors are analysts of Shinhan Investment Corp. They can be reached at idh@shinhan.com and jiunmyoung@shinhan.com, respectively. -- Ed. Initiate coverage with BUY for a target price of KRW180,000We initiate our coverage of Hyundai Heavy Industries with BUY for a target price of KRW180,000, base
Although the global investment market was frozen due to inflation concerns, interest rate hikes and the effects of the Ukraine war, many Korean startups successfully attracted investments in the first half of this year. But in July, startup investments plunged.Investment in Korean startups totaled 8
The International Contractors Association of Korea announced on Aug. 8 that South Korean construction companies’ overseas construction contracts signed between Jan. 1 and Aug. 7 this year total US$17.419 billion, up 12 percent from a year ago.“The 331 contracts, up 18 percent year on year, were sign
The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed. 2Q22 review: OP beats market consensus; expect limited earnings growth on peaked air cargo market, delay in recovery for air passenger market— 2Q22 OP easily beat the market consensus thanks to booming air
The authors are analysts of Shinhan Investment Corp. They can be reached at hyungwou@shinhan.com and michlshim94@shinhan.com, respectively. -- Ed. 2Q22 review: Solid sales and brisk new order intakeSimmtech posted sales of KRW477.4bn (+47% YoY) and operating profit of KRW114.7bn (+267% YoY) for 2Q22
The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. Maintain BUY, target price of KRW500,000 We maintain BUY on CJCJ. Our TP is unchanged at KRW500,000, as there were no material changes to 2022-24E OP CAGR. The company’s robust business model allows it to off
As subcontract workers’ strike at Daewoo Shipbuilding & Marine Engineering (DSME) continues for nearly 50 days, the nation's other shipbuilders including Hyundai Heavy Industries are keeping a close eye on the development of the situation.On July 20, Hyundai Heavy Industries Group called a meeti
The author is an analyst of Shinhan Investment Corp. He can be reached at ws.choi@shinhan.com. -- Ed. China's top renewable energy generator with second-largest capacityChina Three Gorges Renewables Group is China's top renewable energy generator with a focus on expanding electricity sales t
The authors are analysts of Shinhan Investment Corp. They can be reached at mingu.jeong@shinhan.com and wonyong.sim@shinhan.com, respectively. -- Ed. Nuclear power returns to favorWe initiate our coverage on the nuclear energy sector with an OVERWEIGHT view. We believe nuclear energy is ready to mak
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. ctDNA technology a game changerAt this year’s ASCO conference, circulating tumor DNA (ctDNA) was at the center of attention. Though various technological challenges need to be tackled first for full-
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. Major financial groups are forecast to deliver robust earnings in 2H22, building on 1H22. And, backed by base rate hikes and higher market interest rates, NIM at banking players is highly likely to j
South Korean shipbuilders are facing a rise in thick plate price and Russia-related risks after a boom in the industry started last year. Qatar, in the meantime, is expected to place a number of LNG carrier orders starting from next month.Between the steel and shipbuilding industries, an agreement h
The author is an analyst of Shinhan Investment Corp. He can be reached at yjjung86@shinhan.com. -- Ed. Strong earnings offset by concerns over a peak outLed by Hyundai Motor and Kia, global automakers reported strong earnings for 1Q22. Their profitability should be solid in 2Q22 as well. Share price
The authors are analysts of Shinhan Investment Corp. They can be reached at heeyeon.lim@shinhan.com and tyc@shinhan.com, respectively. – Ed. 1Q22 NP of controlling interest reported at KRW306.8bn (-0.3% QoQ)Korea Investment Holdings posted preliminary operating profit of KRW338.1bn (+23.0% QoQ) for