◆Ajou Economy Major News
▷KOSDAQ to review stocks under 1,000 won and low market cap for delisting
- Starting July 1, the KOSDAQ market will begin reviewing stocks priced under 1,000 won and those with a market capitalization below 20 billion won for potential delisting. The process is expected to intensify in October.
- Market analysts predict that more companies than the 88 identified by the Korea Exchange will face delisting reviews.
- In an effort to avoid being delisted, companies have ramped up stock consolidations. Since the announcement of stricter delisting criteria on February 12, the number of stock consolidations surged from eight last year to 188 in the first half of this year, a 23.5-fold increase.
- There has also been a notable rise in changes to company leadership, with related disclosures increasing from 231 last year to 260 this year, a 12.6% rise.
- Typically seen as positive news, announcements of single sales and supply contracts jumped from 399 to 631, marking a 58.1% increase.
- Particularly, companies not obligated to disclose (those with sales under 10% of total revenue) reported a staggering 135.6% increase in voluntary disclosures of single sales and supply contracts, from 59 last year to 139 in the first half of this year.
- As of June 30, there are 80 listed companies designated as management items on the KOSDAQ.
- There are 156 penny stocks and 159 companies with market caps below 20 billion won (excluding SPACs and preferred stocks). Even accounting for overlaps, over 200 companies face delisting risks.
◆Major Reports
▷Chinese Stocks - Uneven Economic Recovery Supports Rotation Among Leading Stocks [Hanwha Investment & Securities]
- The profits of industrial companies and the manufacturing PMI released at the end of June indicate that China's K-shaped economic recovery is ongoing.
- The growth rate of industrial profits from January to May has increased compared to the previous months, driven by improvements in mining.
- In manufacturing, solid profit growth is confirmed, particularly in advanced manufacturing and the semiconductor value chain.
- The recovery of the manufacturing PMI in June was led by advanced technology manufacturing and equipment manufacturing.
- Given that the differentiation in stock market performance in the first half is linked to the uneven economic recovery, it is likely that the relative strength of growth sectors (ChiNext, STAR Market) will continue through the third quarter.
- Improvements in indicators and policy support are increasingly focused on advanced manufacturing and AI value chains (hardware) rather than traditional manufacturing and domestic consumption.
◆Key Disclosures After Market Close (July 1)
▷Foodnamoo announces a 4 billion won third-party allocation capital increase.
▷RNT Technology changes leadership from Kim Kang-ho and Kim Seong-hwan to Kim Kang-ho as sole representative.
▷Camsys decides on a 5-for-1 stock consolidation.
▷Hunid Technologies changes leadership from Lee Cheol-seung to joint representatives Kim Young-ho and Lee Cheol-seung.
▷Hansol Chemical changes its largest shareholder from the National Pension Service to Jo Dong-hyuk and seven related parties.
◆Fund Trends (as of June 30, excluding ETFs)
▷Domestic equity funds: +85.6 billion won
▷Overseas equity funds: -24.1 billion won
◆Key Schedule for Today (July 2)
▷South Korea: June Consumer Price Index
▷Eurozone: May Unemployment Rate
▷United States: June Employment Report (Non-farm Payrolls, Unemployment Rate)
▷Samsung Electronics to announce AI data center investment plans (scheduled)
▷U.S. bond market to close early (2 PM) and remain closed for three days (Independence Day)
* This article has been translated by AI.
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