Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Event-Driven

Since Cheil Industries (028260 KS) and Samsung C&amp;T (000830 KS) announced their merger in an effort to increase Lee family control of Samsung Electronics shares (and shares in other group companies) on a post-inheritance-tax pro-forma basis, the Smartkarma universe has been regularly updating readers regarding the situation.A RECAP:  <a href="http://www.smartkarma.com/insight_providers/5" target="_blank">Arzish</a> started things off with <a href="http://www.smartkarma.com/insights/samsung-c-t-too-big-to-cheil" target="_blank">Samsung C&amp;T: Too Big to Cheil</a> just after deal announcement. After Elliot announced its increased position, I followed up with <a href="http://www.smartkarma.com/insights/samsung-c-t-completely-the-wrong-price-trillions-being-left-on-the-table" target="_blank">"Completely the Wrong Price: Trillions being left on the table"</a> then a <a href="http://www.smartkarma.com/insights/samsung-c-t-quicknote-30-40-foreign-institutional-investors-ask-for-fairer-swap-rate" target="_blank">QuickNote</a> suggesting Dutch national pension manager APG was leading a group of foreign shareholders to ask C&amp;T for a better merger ratio, and a <a href="http://www.smartkarma.com/insights/samsung-c-t-quicknote-volume-patterns-and-ownership-changes-since-deal-announcement" target="_blank">piece</a> on volume changes and ownership since the deal was announced. <a href="http://www.smartkarma.com/insight_providers/16" target="_blank">Crispin Francis</a> added a <a href="http://www.smartkarma.com/insights/shareholder-activism-around-samsung-c-t-legal-limitations" target="_blank">piece</a> on the legal limits of shareholder activism. Another <a href="http://www.smartkarma.com/insights/helmets-on-c-t-sells-treasury-shares-to-pensions-increase-stake" target="_blank">piece</a> was added when C&amp;T announced it had sold its Treasury Shares to KCC Corp (a large shareholder of Cheil Industries and a friendly party) and Crispin followed up with a <a href="http://www.smartkarma.com/insights/treasury-shares-differences-and-similarities-to-precedent-cases" target="_blank">piece</a> on legal precedents to injunctions filed against treasury share sales in proxy battle situations with a 'hostile' party. The discussion section of several pieces have been of additional interest I think. THIS NOTE adds a table - as comprehensive as possible - of cross holdings among Lee family members, the Samsung foundations, and major Samsung group companies (listed and unlisted). It can be used to estimate where the potential interest lies in future mergers in order to obtain greater family control.More below the fold.

Since Cheil Industries (028260 KS) and Samsung C&amp;T (000830 KS) announced their merger in an effort to increase Lee family control of Samsung Electronics shares (and shares in other group companies) on a post-inheritance-tax pro-forma basis, the Smartkarma universe has been regularly updating readers regarding the situation.A RECAP:  Arzish started things off with Samsung C&amp;T: Too Big to Cheil just after deal announcement. After Elliot announced its increased position, I followed up with "Completely the Wrong Price: Trillions being left on the table" then a QuickNote suggesting Dutch national pension manager APG was leading a group of foreign shareholders to ask C&amp;T for a better merger ratio, and a piece on volume changes and ownership since the deal was announced. Crispin Francis added a piece on the legal limits of shareholder activism. Another piece was added when C&amp;T announced it had sold its Treasury Shares to KCC Corp (a large shareholder of Cheil Industries and a friendly party) and Crispin followed up with a piece on legal precedents to injunctions filed against treasury share sales in proxy battle situations with a 'hostile' party. The discussion section of several pieces have been of additional interest I think. THIS NOTE adds a table - as comprehensive as possible - of cross holdings among Lee family members, the Samsung foundations, and major Samsung group companies (listed and unlisted). It can be used to estimate where the potential interest lies in future mergers in order to obtain greater family control.More below the fold.

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

<ul>
<li>In this insight, we discuss the sharp share price declines of rechargeable battery related stocks in Korea so far in 2024. </li>
<li>The top 20 market cap rechargeable battery related stocks in Korea are down on average 15.9% YTD, underperforming KOSPI which is down 6.7% in the same period.</li>
<li>Many rechargeable battery related names in Korea continue to have lofty valuations. The 20 rechargeable battery names are trading at median P/E of 79.7x in 2023 and 39x in 2024.</li>
</ul>


In this insight, we discuss the sharp share price declines of rechargeable battery related stocks in Korea so far in 2024. 
The top 20 market cap rechargeable battery related stocks in Korea are down on average 15.9% YTD, underperforming KOSPI which is down 6.7% in the same period.
Many rechargeable battery related names in Korea continue to have lofty valuations. The 20 rechargeable battery names are trading at median P/E of 79.7x in 2023 and 39x in 2024.


A Sharp Downturn in Price Momentum of Rechargeable Battery Stocks in Korea in January 2024

South Korea

Samsung SDI Co., Ltd. specializes in developing Lithium Ion Battery (LIB) technology.  The Company also manufactures cathode ray tubes (CRTs) for televisions and computer monitors.  Samsung SDI also produces liquid crystal display (LCD) components and rechargeable batteries for cellular phones , personal digital assistants (PDAs), Energy Storage Systems and solar panels.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Samsung SDI (006400 KS)

SAMSUNG GROUP: Who Holds What?

Since Cheil Industries (028260 KS) and Samsung C&T (000830 KS) announced their merger in an effort to increase Lee family control of Samsung...

Travis Lundy

A Sharp Downturn in Price Momentum of Rechargeable Battery Stocks in Korea in January 2024

In this insight, we discuss the sharp share price declines of rechargeable battery related stocks in Korea so far in 2024.

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)