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>For 1Q26, Hyundai Mobis reported revenue of W15.6tr (+5.5% YoY; in line with the consensus of W15.6tr), operating profit of W802.6bn (+3.3% YoY; 5% below the consensus of W843bn), and an OP margin of 5.2% (-0.1%p).</li><li>Losses in the manufacturing segment widened, while the A/S business delivered solid earnings.</li><li>In manufacturing, the company posted an operating loss of W121.3bn, widening by W21.4bn YoY (vs. -W99.9bn in 1Q25), mainly due to higher semiconductor prices (roughly -W30bn impact). </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>

For 1Q26, Hyundai Mobis reported revenue of W15.6tr (+5.5% YoY; in line with the consensus of W15.6tr), operating profit of W802.6bn (+3.3% YoY; 5% below the consensus of W843bn), and an OP margin of 5.2% (-0.1%p).Losses in the manufacturing segment widened, while the A/S business delivered solid earnings.In manufacturing, the company posted an operating loss of W121.3bn, widening by W21.4bn YoY (vs. -W99.9bn in 1Q25), mainly due to higher semiconductor prices (roughly -W30bn impact). 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.

Hyundai Mobis (012330 KS/Buy)1Q26 Review: Tariff Cost Recovery and Solid A/S Earnings