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

GS Engineering & Construction / Equity Bottom-Up

GS Engineering & Construction (006360 KS)

<ul><li>For 4Q25, we expect GS E&amp;C to report consolidated revenue of W2.97tr (-12% YoY) and operating profit of W47.7bn (+19% YoY), with the latter falling well short of the consensus (W86.9bn).</li><li>Building/housing revenue likely continued falling due to the impact of reduced presales, but plant revenue likely increased YoY on revenue recognition for the Saudi Fadhili project and contributions from domestic affiliate projects.</li><li>Operating profit was likely weighed down by one-off cost recognition tied to an unresolved dispute with a project owner (on a project involving one of the company’s subsidiaries). </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 4Q25, we expect GS E&amp;C to report consolidated revenue of W2.97tr (-12% YoY) and operating profit of W47.7bn (+19% YoY), with the latter falling well short of the consensus (W86.9bn).Building/housing revenue likely continued falling due to the impact of reduced presales, but plant revenue likely increased YoY on revenue recognition for the Saudi Fadhili project and contributions from domestic affiliate projects.Operating profit was likely weighed down by one-off cost recognition tied to an unresolved dispute with a project owner (on a project involving one of the company’s subsidiaries). 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.

GS E&amp;C(006360 KS/보유) 2025년 4분기 실적, 시장 예상치 하회 예상; 매출 성장 동력 확보가 핵심

GS Engineering & Construction

GS E&amp;C(006360 KS/보유) 2025년 4분기 실적, 시장 예상치 하회 예상; 매출 성장 동력 확보가 핵심

GS E&C(006360 KS/보유) 2025년 4분기 실적, 시장 예상치 하회 예상; 매출 성장 동력 확보가 핵심