The author is an analyst for Shinhan Securities. He can be reached at hyon@shinhan.com -- Ed.3Q23 operating profit of KRW15.8bn misses consensusHana Micron reported operating profit of KRW15.8bn (-14% QoQ) on sales of KRW239.4bn (-4% QoQ) in 3Q23, missing the consensus estimate (KRW22bn). Amid the s
The author is an analyst for NH Investment & Securities. He can be reached at jiyoony@nhqv.com -- Ed.In 3Q23, Youngone’s OEM division sales slowed down first time in 10 quarters. Given the industry-outpacing OEM sales clip over the past 2 years, short-term negative effects are inevitable. But, given
The author is an analyst for NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.In 2023, the consumer goods portion of Korea’s exports surpassed that of capital goods for the first time in 25 years. While domestic consumption should weaken on higher interest expense burden in 2
The author is an analyst for NH Investment & Securities. He can be reached at pk.park@nhqv.com -- Ed.In November, the number of DeepCARS installed in general hospitals exceeded the expectation level of 55. Penetration into 65 hospitals (11 tertiary hospitals) is expected within the year. We see 4Q23
The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.Over 2021~2023, Korean shipbuilders have landed target-beating new orders. With sufficient order backlogs under their belt, they have raised newbuilding prices to reflect higher costs, and accordingl
The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.The transportation industry enjoyed a market boom during the pandemic era, but with trade volume growth slowing and supply growth accelerating, supply burden has increased, bringing down tariffs. The
The author is an analyst for NH Investment & Securities. He can be reached at minjae.lee@nhqv.com -- Ed.IS Dongseo’s 3Q23 results beat our estimates and consensus. A decrease in sales at the housing business is inevitable on the completion of major projects. Share price differentiation continues ver
The author is an analyst for NH Investment & Securities. He can be reached at soohong.cho@nhqv.com -- Ed.In 2024, global automotive demand should continue to recover, but growth momentum is set to slow y-y. Although demand has yet to return to pre-pandemic levels (95mn units), a significant portion
President Yoon Seok-yeol has announced a prohibition on short selling until fundamental reform measures are established.During his address at the Cabinet meeting held at the Blue House in Yongsan on Nov. 14, President Yoon Seok-yeol stated, “To prevent further damage, we will prohibit short selling
The author is an analyst for NH Investment & Securities. She can be reached at hzl.lee@nhqv.com -- Ed.YG Ent posted consensus-meeting 3Q23 results. Viewing the firm’s current share price as already fully reflecting concerns toward an entertainment firm, we advise investors to focus on outweighing up
The author is an analyst for NH Investment & Securities. He can be reached at junsup@nhqv.com -- Ed.Through its 3Q23 earnings announcement, Samsung F&M demonstrated stable underwriting profit, excellent new contract creation ability, and only limited impact from the implementation of IFRS17 actuaria
SK on is actively tapping the year-end financial market to secure investment funds for its battery ventures. Following its debut in the public offering corporate bond market earlier this year, the company is now actively utilizing the short-term corporate paper (CP) market for fundraising.According
LG Energy Solution has withdrawn its plans to build a joint venture battery plant in Turkiye with U.S.-based Ford and Turkiye-based Koc Group. Instead, the company will produce battery cells at an existing idle facility and supply them to Ford.LG Energy Solution announced on Nov. 11 that it is withd
The author is an analyst for NH Investment & Securities. He can be reached at pk.park@nhqv.com -- Ed.Sales at Dentium slowed in 3Q23 amid economic downturn in China and logistics issues in Russia. Although revenue growth should rebound in major regions in 4Q23 (a peak season), ultimately, the result
The upward trend in memory prices, starting with DRAM, is now extending to NAND Flash. The combination of production cuts and recovering demand has led to a successful turnaround. There are expectations that the pace of improvement in the performance of Samsung Electronics and SK hynix will accelera
SK hynix is set to allocate approximately 10 trillion won for facility investments next year, marking growth of around 50 percent compared to this year. The move is a proactive response to the “semiconductor winter” and aims to maintain a leadership position in the advanced semiconductor market, inc
NuScale Power’s Utah Power Plant Project, a small modular reactor (SMR) business that garnered attention as the first of its kind in the United States, has been halted due to cost issues. Major domestic companies, including Doosan Enerbility and Samsung C&T, were participating in the project, and th
The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.International passenger traffic climbed 11% m-m in October on the back of holiday season effects, with demand arriving strong for all routes except China. Air cargo volume also strengthened. However,
The author is an analyst for NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.With profits from its E&P division, LXI is continuing its eco-friendly transition. The firm is entering the rechargeable battery value chain with its acquisition of the AKP nickel mine in Indone
The author is an analyst for NH Investment & Securities. He can be reached at pk.park@nhqv.com -- Ed.Celltrion Healthcare posted sound 3Q23 earnings, when considering purchase price settlements. Defying market concerns, the company showed a relative return of 15%p following its merger disclosure on