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

Mirae Asset Securities

External broker reports(aggregated public sources)

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives

Equity Bottom-Up

<ul><li>BGF Retail posted above-consensus 4Q25 results, with revenue of W2.29tr (+3% YoY) and operating profit of W64.2bn (+24% YoY).</li><li>While net store additions and average sales per store were slightly weaker than expected, margins picked up meaningfully on an enhanced product mix.</li><li>Improved profitability from subsidiaries also contributed. We estimate 4Q25 same-store sales (SSS) growth at +0.4% YoY. </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.

BGF Retail posted above-consensus 4Q25 results, with revenue of W2.29tr (+3% YoY) and operating profit of W64.2bn (+24% YoY).While net store additions and average sales per store were slightly weaker than expected, margins picked up meaningfully on an enhanced product mix.Improved profitability from subsidiaries also contributed. We estimate 4Q25 same-store sales (SSS) growth at +0.4% YoY. 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.

BGF Retail (282330 KS/Buy)Earnings provide a measure of relief

External broker reports(aggregated public sources), Daishin Securities

Daishin Securities

Founded in 1962, Daishin Securities is a leading financial services provider in Korea. Daishin securities does its best to provide high quality financial service and to satisfy the various needs of investors. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Convenience store biz continues to see slow same-store sales growth</li><li>Restructuring and fiscal stimulus should still offer tailwinds to the sector in 2H</li><li>Investors advised to buy on correction, which comes amid tepid earnings</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.

Convenience store biz continues to see slow same-store sales growthRestructuring and fiscal stimulus should still offer tailwinds to the sector in 2HInvestors advised to buy on correction, which comes amid tepid earningsContent 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.

BGF Retail (282330 KS Jun 30, 2025) - Recovery Around the Corner

South Korea

BGF Retail Co., Ltd. operates convenience stores. The Company retails delicatessen, sweets, snacks, beverages, tobacco, and other related products. BGF Retail markets its products throughout South Korea.

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

BGF retail (282330 KS)