Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>Won Tech's exports increased by 59.8% YoY in 2025 and by 21.5% YoY in 1H 2026. The company's export sales to the U.S. increased sharply in 1H 2026. </li>
<li>Won Tech is currently trading at P/E of 9.8x and P/B of 2.2x based on 2026 consensus earnings estimates (50% to 60% discount to its historical valuation multiples). </li>
<li>Won Tech provides medical aesthetics and surgical devices. The company's products specializes in the laser and energy based medical solutions used for skin rejuvenation and face lifting procedures. </li>
</ul>


Won Tech's exports increased by 59.8% YoY in 2025 and by 21.5% YoY in 1H 2026. The company's export sales to the U.S. increased sharply in 1H 2026. 
Won Tech is currently trading at P/E of 9.8x and P/B of 2.2x based on 2026 consensus earnings estimates (50% to 60% discount to its historical valuation multiples). 
Won Tech provides medical aesthetics and surgical devices. The company's products specializes in the laser and energy based medical solutions used for skin rejuvenation and face lifting procedures. 


Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>The annual rebalance of the Korea Value-Up Index will take place at the close of trading on 11 June. There are 20 adds and 19 deletes for the index.</li>
<li>There will be big capping flows for <a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a> and <a href="https://www.smartkarma.com/entities/sk-hynix-inc" target="_blank" data-smartkarma-citation="entities:16955:1" rel="noopener">SK Hynix (000660 KS)</a>, leading to one-way turnover of 30% and a round-trip trade of US$1.4bn.</li>
<li>Industrials stocks gain 8 index spots while Information Technology and Consumer Discretionary stocks are net losers with 5 and 3 spots lost respectively.</li>
</ul>


The annual rebalance of the Korea Value-Up Index will take place at the close of trading on 11 June. There are 20 adds and 19 deletes for the index.
There will be big capping flows for Samsung Electronics (005930 KS) and SK Hynix (000660 KS), leading to one-way turnover of 30% and a round-trip trade of US$1.4bn.
Industrials stocks gain 8 index spots while Information Technology and Consumer Discretionary stocks are net losers with 5 and 3 spots lost respectively.


Korea Value-Up Index Rebalance: US$1.4bn Round-Trip Trade Tomorrow

South Korea

Won Tech Co., Ltd. operates as a medical laser equipment and ultrasound company. The Company produces, researches, and develops skin aesthetics equipment, fat reduction equipment, surgical usage equipment, skin care equipment, home care equipment, laser and ultra sound products. Won Tech markets its products worldwide.

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Won Tech (336570 KS)

Korea Small Cap Gem #71: Won Tech

Won Tech's exports increased by 59.8% YoY in 2025 and by 21.5% YoY in 1H 2026. The company's export sales to the U.S. increased sharply in 1H 2026.

Douglas Kim

Korea Value-Up Index Rebalance: US$1.4bn Round-Trip Trade Tomorrow

There are 20 adds and 19 deletes for the index in June, plus large capping changes for Samsung Electronics and SK Hynix, leading to one-way...

Brian Freitas

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