External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Leading full-service brokerage firm in Vietnam. 

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Equity Bottom-Up

<ul><li>Start of commercial operations for Line Project (LCI)Raise TP to W89,000; maintain Hold We raise our target price for Lotte Chemical to W89,000 (from W64,000) while maintaining our Hold rating</li><li>The higher target price reflects narrower losses and a corresponding upward revision in 12MF BPS</li><li>Our TP is based on a 12MF BPS of W296,000 and a target P/B multiple of 0</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Start of commercial operations for Line Project (LCI)Raise TP to W89,000; maintain Hold We raise our target price for Lotte Chemical to W89,000 (from W64,000) while maintaining our Hold ratingThe higher target price reflects narrower losses and a corresponding upward revision in 12MF BPSOur TP is based on a 12MF BPS of W296,000 and a target P/B multiple of 0Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Lotte Chemical (011170 KS/Hold)Start of Commercial Operations for Line Project (LCI)

<ul><li>Government support needed for a smooth consolidation Maintain TP of W64,000 and Hold rating We maintain our target price of W64,000 and Hold rating on Lotte Chemical</li><li>While we expect government-led supply reforms and restructuring in China and Korea, China’s oversupply and high export dependence make a near-term turnaround unlikely</li><li>That said, these measures are essential over the long term, and we believe the direction is appropriate</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Government support needed for a smooth consolidation Maintain TP of W64,000 and Hold rating We maintain our target price of W64,000 and Hold rating on Lotte ChemicalWhile we expect government-led supply reforms and restructuring in China and Korea, China’s oversupply and high export dependence make a near-term turnaround unlikelyThat said, these measures are essential over the long term, and we believe the direction is appropriateContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Lotte Chemical (011170 KS/Hold)Government Support Needed for a Smooth Consolidation

South Korea

Lotte Chemical Corporation manufactures a wide range of petrochemical products such as high density polyethylene, polypropylene, and ethylene glycol. The Company's products are used in manufacturing general housewares, pipes, films, fabrics, bottles, containers, and automotive parts.

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Lotte Chemical (011170 KS)