Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>Nongshim announced that it plans to increase the prices of its instant noodles and snack products starting next week. </li>
<li>Nongshim plans to raise the retail prices of 14 instant noodle products by 7.2% on average and three snack products by 7.4% starting Monday (10 March).</li>
<li>We estimate the consensus to raise their earnings estimates by 5-10%+ in 2025 and 2026, driven by the higher product prices of major instant noodles and snacks. </li>
</ul>


Nongshim announced that it plans to increase the prices of its instant noodles and snack products starting next week. 
Nongshim plans to raise the retail prices of 14 instant noodle products by 7.2% on average and three snack products by 7.4% starting Monday (10 March).
We estimate the consensus to raise their earnings estimates by 5-10%+ in 2025 and 2026, driven by the higher product prices of major instant noodles and snacks. 


IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/monde-nissin-corp" target="_blank" data-smartkarma-citation="entities:32188:1" rel="noopener">Monde Nissin Corp (MONDE PM)</a> shares are down 18% on the back of FY22 results which revealed a net loss of PHP13 billion mainly due to a large impairment charge.</li>
<li>While softening demand in meat alternatives is a headwind, Monde should benefit from the tailwinds of market share gains (in APAC BFB) and margin improvement (easing cost inflation).</li>
<li>The valuation is undemanding (SOTP valuation of PHP10.21 per share) and will prove attractive to investors with a longer-term investment horizon.</li>
</ul>



Monde Nissin Corp (MONDE PM) shares are down 18% on the back of FY22 results which revealed a net loss of PHP13 billion mainly due to a large impairment charge.
While softening demand in meat alternatives is a headwind, Monde should benefit from the tailwinds of market share gains (in APAC BFB) and margin improvement (easing cost inflation).
The valuation is undemanding (SOTP valuation of PHP10.21 per share) and will prove attractive to investors with a longer-term investment horizon.


Cross Asset Strategy

<ul>
<li>Now that Lee Jae-Myung has become new South Korean President, the uncertainty revolving who will lead South Korea in the next five years is now over.</li>
<li>In this insight, we discuss four investment themes (related to Lee Jae-Myung becoming the new South Korean President) that could outperform the market for the remainder of 2025.</li>
<li>The four investment themes include Korean Holdcos/Quasi Holdcos, Korean Cultural Contents, Securities, and SK Group Companies.</li>
</ul>


Now that Lee Jae-Myung has become new South Korean President, the uncertainty revolving who will lead South Korea in the next five years is now over.
In this insight, we discuss four investment themes (related to Lee Jae-Myung becoming the new South Korean President) that could outperform the market for the remainder of 2025.
The four investment themes include Korean Holdcos/Quasi Holdcos, Korean Cultural Contents, Securities, and SK Group Companies.


Lee Jae-Myung Becomes the New South Korean President - Four Investment Themes That Could Outperform

<ul>
<li>In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks (6 to 20 June 2025).</li>
<li>The top three picks in the past two weeks included Samsung C&amp;T, Amorepacific Holdings, and Samsung Securities . They were offset by poor performances by Nongshim and Krafton. </li>
<li>The top 10 picks in this bi-weekly include Amorepacific Holdings, LG Corp, Hyundai Elevator, CS Wind, SK Hynix, Korea Investment Holdings, Samsung F&amp;M Insurance, JYP Entertainment, HiteJinro, and SK Inc.</li>
</ul>


In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks (6 to 20 June 2025).
The top three picks in the past two weeks included Samsung C&amp;T, Amorepacific Holdings, and Samsung Securities . They were offset by poor performances by Nongshim and Krafton. 
The top 10 picks in this bi-weekly include Amorepacific Holdings, LG Corp, Hyundai Elevator, CS Wind, SK Hynix, Korea Investment Holdings, Samsung F&amp;M Insurance, JYP Entertainment, HiteJinro, and SK Inc.


Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (6 June to 20 2025)

<ul>
<li>In this insight, we provide 3 major fundamental criteria for screening major Korean F&amp;B companies. </li>
<li>Three major criteria include 3 years CAGR revenue growth of 5% or more, increase in net margin in 2024, and overseas sales more than 10% of total sales.</li>
<li>Of the 30 Korean F&amp;B companies mentioned in this insight, only six companies meet these criteria including Samyang Foods, Orion Corp, Hitejinro, Lotte Wellfood, Daesang Corporation, and Pulmuone.</li>
</ul>


In this insight, we provide 3 major fundamental criteria for screening major Korean F&amp;B companies. 
Three major criteria include 3 years CAGR revenue growth of 5% or more, increase in net margin in 2024, and overseas sales more than 10% of total sales.
Of the 30 Korean F&amp;B companies mentioned in this insight, only six companies meet these criteria including Samyang Foods, Orion Corp, Hitejinro, Lotte Wellfood, Daesang Corporation, and Pulmuone.


Korean F&B: Focus on Companies With Strongest Export Growth

South Korea

Nongshim Co., Ltd. manufactures, and markets instant noodles, snacks, and beverages.  The Company also produces refined palm oil and food ingredients.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Nongshim Co Ltd (004370 KS)

Nongshim Raises Instant Noodles Prices

Nongshim announced that it plans to increase the prices of its instant noodles and snack products. We believe this price increase by Nongshim will...

Douglas Kim

Monde Nissin: The Investment Case

The sentiment is weak due to the large impairment charges. The valuation is undemanding (SOTP valuation of PHP10.21) and will prove attractive to...

Arun George

Lee Jae-Myung Becomes the New South Korean President - Four Investment Themes That Could Outperform

In this insight, we discuss four investment themes (related to Lee Jae-Myung becoming the new South Korean President) that could outperform the...

Douglas Kim

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (6 June to 20 2025)

Top 10 picks in this bi-weekly include Amorepacific Holdings, LG Corp, Hyundai Elevator, CS Wind, SK Hynix, Korea Investment Holdings, Samsung F&M...

Douglas Kim

Korean F&B: Focus on Companies With Strongest Export Growth

We provide 3 fundamental criteria for screening Korean F&B companies including 3-years CAGR revenue growth of 5% or more, higher net margin in...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)