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 maintain our Buy rating and target price of W160,000 on Kumho Petrochemical.</li><li>Although 2Q26 operating profit beat the consensus by 132%, we leave our target price unchanged because the improvement was driven by a temporary disruption to NB latex supply amid the Middle East conflict.</li><li>Feedstock prices have declined since late June, leading to a corresponding correction in product prices. We therefore expect negative lag effects to weigh on profitability from 3Q26, bringing margins back toward 1Q26 levels. </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 maintain our Buy rating and target price of W160,000 on Kumho Petrochemical.Although 2Q26 operating profit beat the consensus by 132%, we leave our target price unchanged because the improvement was driven by a temporary disruption to NB latex supply amid the Middle East conflict.Feedstock prices have declined since late June, leading to a corresponding correction in product prices. We therefore expect negative lag effects to weigh on profitability from 3Q26, bringing margins back toward 1Q26 levels. 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.

Kumho Petrochemical (011780) Profitability Set to Normalize, but Shareholder Returns Remain Intact

Kumho Petro Chemical

Kumho Petrochemical (011780) Profitability Set to Normalize, but Shareholder Returns Remain Intact