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>Gap emerged between SK Hynix’s valuation and SK Square’s NAV discount rate</li><li>SK Hynix started trading at a premium as chips enter a supercycle</li><li>Growing appetite for SK Hynix proxies; SK Square’s discount should narrow</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>

Gap emerged between SK Hynix’s valuation and SK Square’s NAV discount rateSK Hynix started trading at a premium as chips enter a supercycleGrowing appetite for SK Hynix proxies; SK Square’s discount should narrowContent 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.

SK Square (402340 KS Oct 15, 2025) - A Backdoor into SK Hynix

South Korea

SK Square Co., Ltd. operates as an investment company. The Company invests in semiconductors, information and communications technologies, and other industries. SK Square conducts businesses in South Korea.

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SK Square (402340 KS)

SK Square (402340 KS Oct 15, 2025) - A Backdoor into SK Hynix

Gap emerged between SK Hynix’s valuation and SK Square’s NAV discount rate. SK Hynix started trading at a premium as chips enter a supercycle

Daishin Securities

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