External broker reports(aggregated public sources), Daishin Securities

Daishin Securities

External broker reports(aggregated public sources)

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.

Equity Bottom-Up

<ul><li>Consolidated 1Q25 OP reached W113.6bn (+69.6% YoY), well above consensus</li><li>Domestic mass production focused on PGM replaces low-margin exports; overseas business also solid thanks to FX tailwinds</li><li>No change in guidance, with one-off factors excluded and R&amp;D costs fully reflected</li></ul><p><em>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.</em></p>

Consolidated 1Q25 OP reached W113.6bn (+69.6% YoY), well above consensusDomestic mass production focused on PGM replaces low-margin exports; overseas business also solid thanks to FX tailwindsNo change in guidance, with one-off factors excluded and R&amp;D costs fully reflectedContent 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.

LIG Nex1 (079550 KS May 14, 2025) - Remarkable Domestic Profitability

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

<ul>
<li>In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the two weeks (18 July to 1 August 2025).</li>
<li>Our top 10 picks were up on average 4.5% in the past two weeks, slightly outperforming KOSPI which was up 4.4% in the same period.</li>
<li>The top 10 picks in this bi-weekly include Hanil Cement, LG CNS, KCC Corp, Poongsan, Paradise, Samsung Electronics, Naver, SM Entertainment, LG Chem, and SK Inc. </li>
</ul>


In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the two weeks (18 July to 1 August 2025).
Our top 10 picks were up on average 4.5% in the past two weeks, slightly outperforming KOSPI which was up 4.4% in the same period.
The top 10 picks in this bi-weekly include Hanil Cement, LG CNS, KCC Corp, Poongsan, Paradise, Samsung Electronics, Naver, SM Entertainment, LG Chem, and SK Inc. 


Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (18 July to 1 August 2025)

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

Korea Stock Exchange Kospi Index / Event-Driven

<ul>
<li>KRX's lack of a standardized English translation platform may lead to non-standardized terminology and varying translation quality. KRX stresses cross-checking Korean and English disclosures due to potential errors. </li>
<li>The 3-day lag between Korean and English disclosures poses timeliness challenges, requiring consistent cross-checking. Overall, the process for foreign investors using Korean market disclosure sites remains largely unchanged.</li>
<li>The common procedure should still be to first check disclosures using English titles, then convert to Korean for reading. If English disclosures exist, utilize them for cross-checking.</li>
</ul>


KRX's lack of a standardized English translation platform may lead to non-standardized terminology and varying translation quality. KRX stresses cross-checking Korean and English disclosures due to potential errors. 
The 3-day lag between Korean and English disclosures poses timeliness challenges, requiring consistent cross-checking. Overall, the process for foreign investors using Korean market disclosure sites remains largely unchanged.
The common procedure should still be to first check disclosures using English titles, then convert to Korean for reading. If English disclosures exist, utilize them for cross-checking.


KRX's Mandatory English Disclosure Debut: A Detailed Guide on Utilizing This Without Confusion

<ul>
<li>We discuss the importance of Hyundai Motor generating nearly 11.5 trillion won in operating profit in 2023, which is likely to be the highest among all Korean companies. </li>
<li>Hyundai Motor and Kia Corp combined are expected to generate operating profit of 20.7 trillion won in 2023, representing 57% of total operating profit of the top 10 Korean companies.</li>
<li>In 2023, Hyundai Motor plans a full-scale world-wide roll-out of its EV Ioniq 6. Furthermore, it set a dividend payout ratio at 25% or higher.</li>
</ul>


We discuss the importance of Hyundai Motor generating nearly 11.5 trillion won in operating profit in 2023, which is likely to be the highest among all Korean companies. 
Hyundai Motor and Kia Corp combined are expected to generate operating profit of 20.7 trillion won in 2023, representing 57% of total operating profit of the top 10 Korean companies.
In 2023, Hyundai Motor plans a full-scale world-wide roll-out of its EV Ioniq 6. Furthermore, it set a dividend payout ratio at 25% or higher.


Hyundai Motor: Highest Operating Profit Among All Korean Companies in 2023

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Jul 11th. The aggregated holding was USD638.1bn.</li>
<li>We estimate that foreign flows to be inflows of USD373mln. We tabulates the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Alteogen, Samsung Electronics.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Jul 11th. The aggregated holding was USD638.1bn.
We estimate that foreign flows to be inflows of USD373mln. We tabulates the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Alteogen, Samsung Electronics.


KRX Foreign Holding Weekly (Jul 11th): Alteogen, Samsung Electronics

South Korea

LIG Nex1 Co., Ltd. manufactures military and defense weapon systems.  The Company develops missiles, radio equipment, torpedoes, radar equipment, and other defense products.  LIG Nex1 produces weapons for the global defense industry and operates throughout South Korea.

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LIG Nex1 Co (079550 KS)

LIG Nex1 (079550 KS May 14, 2025) - Remarkable Domestic Profitability

Consolidated 1Q25 OP reached W113.6bn (+69.6% YoY), well above consensus. Domestic mass production focused on PGM replaces low-margin exports

Daishin Securities

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (18 July to 1 August 2025)

The top 10 picks in this bi-weekly include Hanil Cement, LG CNS, KCC Corp, Poongsan, Paradise, Samsung Electronics, Naver, SM Entertainment, LG...

Douglas Kim

KRX's Mandatory English Disclosure Debut: A Detailed Guide on Utilizing This Without Confusion

This post is a comprehensive guide on utilizing KRX's inaugural mandatory English disclosures without confusion, which began today.

Sanghyun Park

Hyundai Motor: Highest Operating Profit Among All Korean Companies in 2023

In this insight, we discuss the importance of Hyundai Motor generating nearly 11.5 trillion won in operating profit in 2023, which is likely to be...

Douglas Kim

KRX Foreign Holding Weekly (Jul 11th): Alteogen, Samsung Electronics

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Alteogen, Samsung Electronics.

Ke Yan, CFA, FRM

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