External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives.

External broker reports(aggregated public sources)

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives

Equity Bottom-Up

<ul><li>We expect GC Biopharma to deliver revenue of W492.4bn (+11.7% YoY) and operating profit of W1bn in 4Q25, swinging to profit YoY, with both revenue and operating profit likely to exceed the consensus (revenue of W462.6bn and operating loss of W1.5bn).</li><li>We estimate that Alyglo revenue rose to around W70bn, supported by expanded prescriptions and inventory stocking, which likely contributed to margin improvement.</li><li>As a result, we believe that Alyglo’s 2025 revenue also slightly exceeded the company’s US$100mn guidance.</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>

We expect GC Biopharma to deliver revenue of W492.4bn (+11.7% YoY) and operating profit of W1bn in 4Q25, swinging to profit YoY, with both revenue and operating profit likely to exceed the consensus (revenue of W462.6bn and operating loss of W1.5bn).We estimate that Alyglo revenue rose to around W70bn, supported by expanded prescriptions and inventory stocking, which likely contributed to margin improvement.As a result, we believe that Alyglo’s 2025 revenue also slightly exceeded the company’s US$100mn guidance.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.

GC Biopharma (006280 KS/Buy)4Q25 preview: Alyglo growth to ease concerns

GC Biopharma Corp

GC Biopharma (006280 KS/Buy)4Q25 preview: Alyglo growth to ease concerns