External broker reports(aggregated public sources), Daishin Securities

Daishin Securities

External broker reports(aggregated public sources)

Founded in 1962, Daishin Securities is a leading financial services provider in Korea. Daishin securities does its best to provide high quality financial service and to satisfy the various needs of investors. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Samsung Electronics Co., Ltd. manufactures a wide range of consumer and industrial electronic equipment and products such as semiconductors, personal computers, peripherals, monitors, televisions, and home appliances including air conditioners and microwave ovens. The Company also produces Internet access network systems and telecommunications equipment including mobile phones.

<ul><li>3Q24 company-wide OP estimated at W10.1tn, down 3.1% from previous quarter</li><li>AI/server memory demand remains solid, but demand for IT products (smartphones/PCs) has softened</li><li>A modest outlook likely stems from one-off spending (bonuses paid to the DS segment) and write-back of memory inventory valuation losses</li></ul>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.

3Q24 company-wide OP estimated at W10.1tn, down 3.1% from previous quarterAI/server memory demand remains solid, but demand for IT products (smartphones/PCs) has softenedA modest outlook likely stems from one-off spending (bonuses paid to the DS segment) and write-back of memory inventory valuation lossesContent 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.

Samsung Electronics (005930 KS Sep 13, 2024)

LG Electronics Inc. manufactures and markets digital display equipment and home appliances. The Company produces and markets flat panel televisions, A/V products, washing machines, air conditioners and refrigerators as well as telecommunications equipment such as smart phones and tablets.

<ul><li>Investor Forum (Aug 21): likely turning point for corporate value expansion</li><li>Expansion of new growth portfolio expected to position LG Electronics as a B2B-centric life solution company</li><li>Poised to enhance corporate value by adding new growth businesses, through a shift away from the previous B2C-based growth model</li></ul>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.

Investor Forum (Aug 21): likely turning point for corporate value expansionExpansion of new growth portfolio expected to position LG Electronics as a B2B-centric life solution companyPoised to enhance corporate value by adding new growth businesses, through a shift away from the previous B2C-based growth modelContent 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.

LG Electronics (066570 KS) - Value Jump Expected for the New LG Electronics

Oscotec Inc. manufactures bone and dental related medical equipment. The Company also produces a wide range of bone related medicine such as medicine to cure osteoporosis, arthritis, periodontal, and also provides R & D service.

<ul><li>The FDA approved the lazertinib+amivantamab therapy on Aug 20 </li><li>A monumental case for a local anti-cancer drug to get FDA approval for commercial use in the US</li><li>Commercialization also likely in other countries, with milestone payments anticipated</li></ul>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.

The FDA approved the lazertinib+amivantamab therapy on Aug 20 A monumental case for a local anti-cancer drug to get FDA approval for commercial use in the USCommercialization also likely in other countries, with milestone payments anticipatedContent 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.

Oscotec (039200 KQ) - Birth of a Proud K-Blockbuster

LG Innotek Co., Ltd. develops and produces cellular phone parts such as mini vibration motors, LCD modules, light emitting diode (LED), camera modules, protection circuit modules. The Company also manufactures liquid crystal displays (LCD) and plasma display panels (PDP) parts such as inverters, intelligent power modules, multi chip modules, and tuners.

<ul><li>Consensus (W94.5bn) beat likely with 2Q24 OP forecast at W154.1bn</li><li>2H24 OP projected at W0.83tn, up 23.8% yoy.</li><li>Heightened expectations for increased iPhone 16 sales</li></ul>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.

Consensus (W94.5bn) beat likely with 2Q24 OP forecast at W154.1bn2H24 OP projected at W0.83tn, up 23.8% yoy.Heightened expectations for increased iPhone 16 salesContent 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.

LG Innotek (011070 KS) - Earnings Forecast Raised Further, IPhone 16 Expectations High

<ul><li>Earnings beat; preliminary revenue of W7.4tn, OP of W10.4tn</li><li>Earnings surprise reportedly resulted from DRAM/NAND price increases, release of large allowances set aside against inventory loss, and SDC’s improved OPM</li><li>Memory price hikes set to prompt enhanced profitability; expectations in place for HBM3E supply in 2H24</li></ul>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.

Earnings beat; preliminary revenue of W7.4tn, OP of W10.4tnEarnings surprise reportedly resulted from DRAM/NAND price increases, release of large allowances set aside against inventory loss, and SDC’s improved OPMMemory price hikes set to prompt enhanced profitability; expectations in place for HBM3E supply in 2H24Content 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.

Samsung Electronics (005930 KS July 8, 2024)