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. 

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.

Equity Bottom-Up

<ul><li>We believe LG Electronics (LGE) is on a clear profitability recovery trajectory, driven by the easing of cost/tariff risks and product mix improvements.</li><li>Home appliance solutions (HS): A higher share of production in North America is helping to mitigate tariff pressures, while ongoing price adjustments and enhanced operational efficiencies are likely to improve the unit’s margin profile.</li><li>In Korea, the home appliance subscription model is driving qualitative revenue growth by strengthening customer loyalty and supporting relatively high margins.</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.

We believe LG Electronics (LGE) is on a clear profitability recovery trajectory, driven by the easing of cost/tariff risks and product mix improvements.Home appliance solutions (HS): A higher share of production in North America is helping to mitigate tariff pressures, while ongoing price adjustments and enhanced operational efficiencies are likely to improve the unit’s margin profile.In Korea, the home appliance subscription model is driving qualitative revenue growth by strengthening customer loyalty and supporting relatively high margins.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.

LG Electronics (066570 KS/Buy)Fundamentals Improving...

Thematic (Sector/Industry)

<ul><li>As AI workloads increasingly move from training to inference tasks, LLM token usage continues to rise.</li><li>This is leading to sustained high growth in AI data center capex.</li><li>Several structural changes are underway: 1) a shift toward high-capacity/low-power DRAM (HBM); 2) the spread of multiarchitecture systems combining GPUs, ASICs, and NPUs; 3) a generational shift in networking from 800G to 1.6T transceivers; and 4) a sharp increase in demand for HDDs, SSDs, and NAND used in inference workloads.</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.

As AI workloads increasingly move from training to inference tasks, LLM token usage continues to rise.This is leading to sustained high growth in AI data center capex.Several structural changes are underway: 1) a shift toward high-capacity/low-power DRAM (HBM); 2) the spread of multiarchitecture systems combining GPUs, ASICs, and NPUs; 3) a generational shift in networking from 800G to 1.6T transceivers; and 4) a sharp increase in demand for HDDs, SSDs, and NAND used in inference workloads.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.

[2026 Outlook] Electrical/Electronic ComponentsSet to enter a structural up-cycle

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul>
<li>LG Electronics presented its first-quarter financial results for 2025, painting a nuanced picture of challenges and strategic initiatives that the company is undertaking.</li>
<li>LG Electronics reported consolidated sales of KRW 22.74 trillion and an operating profit of KRW 1.26 trillion for the quarter.</li>
<li>The results showcased a strong quarter with record-high sales figures from several of its business segments, notably in Household Solutions (HS), Vehicle Solutions (VS), and Environmental Solutions (ES).</li>
</ul>


LG Electronics presented its first-quarter financial results for 2025, painting a nuanced picture of challenges and strategic initiatives that the company is undertaking.
LG Electronics reported consolidated sales of KRW 22.74 trillion and an operating profit of KRW 1.26 trillion for the quarter.
The results showcased a strong quarter with record-high sales figures from several of its business segments, notably in Household Solutions (HS), Vehicle Solutions (VS), and Environmental Solutions (ES).


LG Electronics- An Insight Into Its Premium Innovative Product Development & Market Positioning!

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>Consensus beat expected for 1Q25, with OP estimated at W1.41tn (+5.3% YoY); Earnings surprise ahead</li><li>Growth in premium appliance sales and strong performance in subscriptionbased appliance rentals/HVAC should help boost profitability</li><li>2025 valuation at its trough; earnings growth to deepen undervaluation</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.

Consensus beat expected for 1Q25, with OP estimated at W1.41tn (+5.3% YoY); Earnings surprise aheadGrowth in premium appliance sales and strong performance in subscriptionbased appliance rentals/HVAC should help boost profitability2025 valuation at its trough; earnings growth to deepen undervaluationContent 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.

LG Electronics (066570 KS) - Earnings Surprise on Horizon; Time to Reassess!

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>There are some major surprises (both inclusions and exclusions) in the Korea Value Up index. </li>
<li>In particular, the telecom sector (SK Telecom and KT) and large cap holding companies (Samsung C&amp;T and LG Corp) are surprising exclusions in the index.</li>
<li>There are many surprising inclusions in the Korea Value Up Index. We provide 30 companies are surprising inclusions in the Korea Value Up Index (19 KOSDAQ and 11 KOSPI listed).</li>
</ul>


There are some major surprises (both inclusions and exclusions) in the Korea Value Up index. 
In particular, the telecom sector (SK Telecom and KT) and large cap holding companies (Samsung C&amp;T and LG Corp) are surprising exclusions in the index.
There are many surprising inclusions in the Korea Value Up Index. We provide 30 companies are surprising inclusions in the Korea Value Up Index (19 KOSDAQ and 11 KOSPI listed).


Korea Value Up Index - Surprising Inclusions and Exclusions

South Korea

LG Electronics Inc. manufactures and markets digital display equipment and home appliances. The Company produces and markets flat panel televisions, A/V products, washing machines, air conditioners and refrigerators as well as telecommunications equipment such as smart phones and tablets.

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LG Electronics (066570 KS)