Equity Analyst focused on Korea Stock Market

Thomas Yi

Equity Bottom-Up

"Korea’s #1 and the world’s #5 NGS player"<ul>
<li>The world’s 5th ranked DNA sequencing service provider. Growing NGS (Next Generation Sequencing) market suggests its substantial upside for next decade</li>
<li>Macrogen’s strong points - (1) Abundant genetic research experience and records, (2) The most advanced instruments for genome sequencing, (3) Fast growing oversea (US, Japan) subsidiaries</li>
<li>Issues to keep an eye on - (1) US subsidiary’s plan for KOSDAQ IPO, (2) Singapore NGS project likely to name Macrogen a project leader, (3) Ample cash to enable shareholder-friendly policy</li>
<li>Macrogen appears significantly undervalued relative to its peers (Foundation Medicine, Illumina)</li>
</ul>* Stock Information: Share price(18/07/19) KRW 35,950  Market Cap(18/07/19) KRW 381.2 bn  Trading Volume (@60days) 141,710 shares  Historical price(52 weeks; Highest/Lowest) KRW 54,900/ KRW 22,150  Absolute Return (1 month) +1.99%, (3 month) -17.07%  Major shareholders – Jeong-sun Seo and others 9.92%, treasury stock 3.12%

"Korea’s #1 and the world’s #5 NGS player"
The world’s 5th ranked DNA sequencing service provider. Growing NGS (Next Generation Sequencing) market suggests its substantial upside for next decade
Macrogen’s strong points - (1) Abundant genetic research experience and records, (2) The most advanced instruments for genome sequencing, (3) Fast growing oversea (US, Japan) subsidiaries
Issues to keep an eye on - (1) US subsidiary’s plan for KOSDAQ IPO, (2) Singapore NGS project likely to name Macrogen a project leader, (3) Ample cash to enable shareholder-friendly policy
Macrogen appears significantly undervalued relative to its peers (Foundation Medicine, Illumina)
* Stock Information: Share price(18/07/19) KRW 35,950  Market Cap(18/07/19) KRW 381.2 bn  Trading Volume (@60days) 141,710 shares  Historical price(52 weeks; Highest/Lowest) KRW 54,900/ KRW 22,150  Absolute Return (1 month) +1.99%, (3 month) -17.07%  Major shareholders – Jeong-sun Seo and others 9.92%, treasury stock 3.12%

South Korea

Eone Diagnomics Genome Center Co., Ltd. provides clinical diagnostic testing services. The Company offers fetal non-invasive prenatal testing, newborn genetic screening testing, organ transplantation rejection monitoring, and other services. Eeone Diagnomics Genome Center provides services in Korea.

Eone Diagnomics Genome Center (245620 KS)

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Eone Diagnomics Genome Center (245620 KS)

CV Note: Macrogen (038290 KQ)

"Korea’s #1 and the world’s #5 NGS player" The world’s 5th ranked DNA sequencing service provider. Growing NGS (Next Generation Sequencing) market...

Thomas Yi

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