[Click eStock] "SAMG Enter, Growth Continues Through Overseas Expansion"

Hana Securities analyzed on the 6th that the popularity of the character 'Catch! Tiniping' from SAMG Entertainment is spreading worldwide.

Seongho Kim, a researcher at Hana Securities, explained, "SAMG Entertainment's MD products have entered the Chinese and Japanese markets," adding, "Sales to China reached 19 billion KRW cumulatively by the third quarter of last year." He continued, "Since October last year, we have officially started the MD business in Japan," and added, "We expect to expand market penetration in Japan."

Furthermore, he emphasized, "Although we have not officially entered the U.S. market yet, we ranked 9th in the Netflix North American kids category," and "There is great anticipation for future entry into the U.S. market."

This year, SAMG Entertainment is estimated to achieve sales of 140.5 billion KRW and an operating profit of 17.7 billion KRW. Sales are expected to increase by 20.7% compared to last year, and operating profit is expected to turn positive.

Researcher Kim analyzed, "Along with growth from IP expansion, profitability improvement is also possible due to cost structure improvements. Based on this year's expected performance, the price-to-earnings ratio (PER) is 19.7 times, which is undervalued compared to the average of 29.7 times for three global character IP companies."