[Click eStock] "Aseajeji, Expecting Active Shareholder Returns"

Yuanta Securities analyzed on the 15th that Aseajaeji is expected to actively return profits to shareholders as a leading figure in the 'Value-Up' initiative.

Researcher Son Hyun-jung of Yuanta Securities explained, "Aseajaeji is an undervalued stock with a price-to-book ratio (PBR) below 1," and "is actively pursuing shareholder return measures such as treasury stock cancellation."

He added, "We expect to benefit from the government's ‘Value-Up Program’ policy," and "plan to acquire treasury stocks worth a total of 40 billion KRW over the next two years and gradually cancel them by 2026."

Furthermore, he stated, "There is also a plan to distribute 25% of the net income based on separate financial statements as dividends over four years until 2026," and "at the regular shareholders' meeting in March, a proposal to split the par value of 5,000 KRW per share into 1,000 KRW will be submitted." He analyzed, "In addition to valuation attractiveness, the company is judged to have high investment appeal due to shareholder return and dividend policies."

Researcher Son forecasted, "A new corrugated cardboard factory in Cheongju is scheduled to be established in 2026," and "additional sales worth approximately 187 billion KRW are expected to occur." He emphasized, "Sales in 2026 are expected to increase by about 20% compared to 2023," and "the first unit will start operation in 2025, and the second unit will operate in 2026."

It is estimated that this year's sales will reach 958.3 billion KRW and operating profit 109.2 billion KRW, representing increases of 5.6% and 6.5%, respectively, compared to last year.