Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

Asian Terminals, Inc., through its subsidiaries, operates and manages port terminals in the Philippines. The company operates and manages the Manila South Harbor, the Inland Clearance Depot, the Port of Batangas, and the Port of General Santos, as well as off-dock container yards. It provides stevedoring, arrastre, warehousing, storage, carnage, container freight station, domestic cargo handling, passenger terminal, and other port related services for international shipping lines; and trucking, just-in-time delivery, brokerage, and maintenance and repair services. The company was formerly known as Marina Port Services, Inc. Asian Terminals, Inc. was incorporated in 1986 and is headquartered in Manila, the Philippines.

<ul>
<li>In this insight, we review the share price performances of the 14 companies/insights on the Asian Dividend Gems in 2025.</li>
<li>The 14 stocks in the Asian Dividend Gems published in 2025 are up on average 17.9% from the date of publishing the insight to current price.</li>
<li>The 14 companies included in the Asian Dividend Gems series this year currently have an average dividend yield of 5.4% and average SmartScore of 4.1 (out of 5.0).</li>
</ul>


In this insight, we review the share price performances of the 14 companies/insights on the Asian Dividend Gems in 2025.
The 14 stocks in the Asian Dividend Gems published in 2025 are up on average 17.9% from the date of publishing the insight to current price.
The 14 companies included in the Asian Dividend Gems series this year currently have an average dividend yield of 5.4% and average SmartScore of 4.1 (out of 5.0).


Equity Capital Markets

Aimed Bio Inc. provides medical technology development seervices. The Company develops cancer cell-targeting antibody technologies and other products. Aimed Bio conducts businesses in South Korea.

<ul>
<li>In this insight, we review our IPO calls in 2025. The accuracy rate of our calls on the IPOs this year was 64%. </li>
<li>The overall sentiment on IPOs in Korea have improved in the second half of this year, paying the way for some completions of major IPOs in Korea in 2026.</li>
<li>LG CNS and Seoul Guarantee Insurance were two of the largest IPOs in Korea in 2025. Some of the best performing IPOs in Korea in 2025 include Nota and AimedBio.</li>
</ul>


In this insight, we review our IPO calls in 2025. The accuracy rate of our calls on the IPOs this year was 64%. 
The overall sentiment on IPOs in Korea have improved in the second half of this year, paying the way for some completions of major IPOs in Korea in 2026.
LG CNS and Seoul Guarantee Insurance were two of the largest IPOs in Korea in 2025. Some of the best performing IPOs in Korea in 2025 include Nota and AimedBio.


<ul>
<li><strong>This is our 11th "Annual Edition of the Major Korean IPOs Pipeline Preview" at Smartkarma. </strong></li>
<li>This insight features 40 of the biggest potential IPOs in Korea in 2026.</li>
<li>Some of the largest potential IPOs in Korea in 2026 include CJ Olive Young, DN Solutions, Dunamu, Goodai Global, K Bank, Kurly, Musinsa, SK On, SK Ecoplant, and Sono International.</li>
</ul>


This is our 11th "Annual Edition of the Major Korean IPOs Pipeline Preview" at Smartkarma. 
This insight features 40 of the biggest potential IPOs in Korea in 2026.
Some of the largest potential IPOs in Korea in 2026 include CJ Olive Young, DN Solutions, Dunamu, Goodai Global, K Bank, Kurly, Musinsa, SK On, SK Ecoplant, and Sono International.


2026 ("Year of the Horse") Major IPOs Pipeline in Korea

Event-Driven

Aplus Asset Advisor Co., Ltd. provides insurance brokerage services. The Company offers insurance advisory and consulting services, loss prevention services, insurance reporting, and other related services. Aplus Asset Advisor provides services in Korea.

<ul>
<li>There appears to be a M&amp;A battle heating up for APlus Asset Advisor. This is because it was reported that Aplus Asset Advisor Chairman Kwak Geun-ho has increased his stake.</li>
<li>Chairman Kwak Geun-ho purchased additional 30,904 shares of Aplus Asset's common stock over three trading days and his stake increased by 0.14 percentage points from 20.06% to 20.20%.</li>
<li>In the next 3-6 months, we expect additional upside to the stock price (to 10,000 won to 12,000 won) as more investors perceive this could be an attractive M&amp;A target.</li>
</ul>


There appears to be a M&amp;A battle heating up for APlus Asset Advisor. This is because it was reported that Aplus Asset Advisor Chairman Kwak Geun-ho has increased his stake.
Chairman Kwak Geun-ho purchased additional 30,904 shares of Aplus Asset's common stock over three trading days and his stake increased by 0.14 percentage points from 20.06% to 20.20%.
In the next 3-6 months, we expect additional upside to the stock price (to 10,000 won to 12,000 won) as more investors perceive this could be an attractive M&amp;A target.


M&A Battle for APlus Asset Advisor Heats Up Amid Tender Offer

Shin Young Wacoal Inc. manufactures lingerie and other women's undergarments. The Company mainly produces women's underwear, brassieres, girdles, pajama and pajama gowns, lingerie, bodysuits, stockings, and men's undergarments.

<ul>
<li>In this insight, we review our Korean Small Cap Gem insights that we published in 2025. We published 18 Korea Small Cap Gem Series insights in 2025.</li>
<li>The 18 Korean Small Caps have generally performed well this year. They were up on average 17% and 45%, respectively one week and two weeks after the insights were published.</li>
<li>Some of the best performing stocks so far this year include Chunil Express (000650 KS), Aurora World (039830 KS), Makus Inc (093520 KS), and Flitto Inc. (300080 KS). </li>
</ul>


In this insight, we review our Korean Small Cap Gem insights that we published in 2025. We published 18 Korea Small Cap Gem Series insights in 2025.
The 18 Korean Small Caps have generally performed well this year. They were up on average 17% and 45%, respectively one week and two weeks after the insights were published.
Some of the best performing stocks so far this year include Chunil Express (000650 KS), Aurora World (039830 KS), Makus Inc (093520 KS), and Flitto Inc. (300080 KS). 


A Review of Korean Small Cap Gems in 2025

Nearly 30 years of experience in the Korean/Asian equity research. Major sectors coverage include the following:
- Technology 
- Consumer 
- Special Situations/Deep Value Plays
- Tender Offers/M&As
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Douglas Kim
Korea/Asia, Events, IPOs
• Douglas Research Advisory

A Review of Asian Dividend Gems in 2025

The 14 stocks in the Asian Dividend Gems published in 2025 are up on average 17.9% from the date of publishing the insight to current price. They...

Douglas Kim

A Review of Our IPO Calls in 2025

In this insight, we review our IPO calls in 2025. The accuracy rate of our calls on the IPOs this year was 64%. The overall sentiment on IPOs in...

Douglas Kim

2026 ("Year of the Horse") Major IPOs Pipeline in Korea

This is our 11th "Annual Edition of the Major Korean IPOs Pipeline Preview" at Smartkarma. This insight features 40 of the biggest potential IPOs...

Douglas Kim

M&A Battle for APlus Asset Advisor Heats Up Amid Tender Offer

Align Partners raised its tender offer price for Aplus Asset to 9,000 won per share (12.5% higher than previous tender offer price of 8,000 won and...

Douglas Kim

A Review of Korean Small Cap Gems in 2025

In this insight, we review our Korean Small Cap Gem insights that we published in 2025. We published 18 Korea Small Cap Gem Series insights in 2025.

Douglas Kim