Founder/CEO of ROK Advisory, ROK Advisory LLC

Ken S. Kim

Founder/CEO of ROK Advisory

ROK Advisory LLC

ROK is an independent research advisory firm. We guide you to minimize the information gap between foreign and local investors in Northeast Asia with a focus in Korea, Taiwan and Japan.

Independent Research Advisory Firm

Equity Bottom-Up

<ul>
<li>A SELL note from a broker on <a href="https://www.smartkarma.com/entities/ecopro-bm-co-ltd" target="_blank" data-smartkarma-citation="entities:27873:1" rel="noopener">Ecopro BM Co Ltd (247540 KS)</a> was a key reason for the 7% and 8+% fall for <a href="https://www.smartkarma.com/entities/ecopro-co-ltd" target="_blank" data-smartkarma-citation="entities:19029:1" rel="noopener">Ecopro Co Ltd (086520 KS)</a> .  </li>
<li>Is this finally start of the end of the rally for the poster boy for Korean EV </li>
<li>When will earnings matter and what are the catalysts that could start the downfall?</li>
</ul>


A SELL note from a broker on Ecopro BM Co Ltd (247540 KS) was a key reason for the 7% and 8+% fall for Ecopro Co Ltd (086520 KS) .  
Is this finally start of the end of the rally for the poster boy for Korean EV 
When will earnings matter and what are the catalysts that could start the downfall?


Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

EcoPro Materials / Equity Capital Markets

<ul>
<li>Ecopro Materials, an affiliate of Ecopro, is getting ready to complete its IPO in 2H 2023. Ecopro Co has a 52.8% stake in Ecopro Materials. </li>
<li>Ecopro Materials' core products are lithium cell core materials called precursors, which are used as part of the rechargeable batteries. </li>
<li>The expected market value of Ecopro Materials is about 3 trillion won to 4 trillion won (US$2.3 billion to US$3.0 billion).</li>
</ul>


Ecopro Materials, an affiliate of Ecopro, is getting ready to complete its IPO in 2H 2023. Ecopro Co has a 52.8% stake in Ecopro Materials. 
Ecopro Materials' core products are lithium cell core materials called precursors, which are used as part of the rechargeable batteries. 
The expected market value of Ecopro Materials is about 3 trillion won to 4 trillion won (US$2.3 billion to US$3.0 billion).


Initial Thoughts on the Ecopro Materials IPO

<ul>
<li>In this insight, we discuss the sharp share price declines of rechargeable battery related stocks in Korea so far in 2024. </li>
<li>The top 20 market cap rechargeable battery related stocks in Korea are down on average 15.9% YTD, underperforming KOSPI which is down 6.7% in the same period.</li>
<li>Many rechargeable battery related names in Korea continue to have lofty valuations. The 20 rechargeable battery names are trading at median P/E of 79.7x in 2023 and 39x in 2024.</li>
</ul>


In this insight, we discuss the sharp share price declines of rechargeable battery related stocks in Korea so far in 2024. 
The top 20 market cap rechargeable battery related stocks in Korea are down on average 15.9% YTD, underperforming KOSPI which is down 6.7% in the same period.
Many rechargeable battery related names in Korea continue to have lofty valuations. The 20 rechargeable battery names are trading at median P/E of 79.7x in 2023 and 39x in 2024.


A Sharp Downturn in Price Momentum of Rechargeable Battery Stocks in Korea in January 2024

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EcoPro Materials (450080 KS)

Ecopro - Is This the Start of the End?

When will KR EV plays, if ever, correct? Are we seeing the signs of the correction or that the sector has peaked? It seems we are one more news...

Ken S. Kim

Initial Thoughts on the Ecopro Materials IPO

Ecopro Materials, an affiliate of Ecopro, is getting ready to complete its IPO in 2H 2023. The expected market value of Ecopro Materials is about 3...

Douglas Kim

A Sharp Downturn in Price Momentum of Rechargeable Battery Stocks in Korea in January 2024

In this insight, we discuss the sharp share price declines of rechargeable battery related stocks in Korea so far in 2024.

Douglas Kim

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)