Yonsei Investment Group
COMPANY ANALYSIS
Apr. 12, 2006
ַθ
( 03)
ȸ / ݵŴ
: (Buy)
< Key Point >
- ȣ 1 .
- Ҹű Ÿ .
- پ CEO ȿ.
- 2004 ְ ̹ 10Ÿ . ϴ .
- .
1. ! ַθ!
, ۵Ǹ鼭 Ͼ 鰣 , ̸Ͼ ũ ƴ ϴ , ݰ 2ǿ Ǿϴ. "ο Ƴ !" Դϴ.
ڰ մϴ. èǾ ַθ, èǾ̾ HK ( Ѽ) о 1 Ͽϴ.
2004 ص Ұߴ ַθ 1 ġ ־? HK 濵 èǾ ڸ ϱ? Ʈ ۾̰ ñ ذϴ λ깰Դϴ. Ʒ ǥ ۾̰ ģ Բ ƴٴϸ ۼ 湮 ǥԴϴ. ȣǥ 谡 ų, ǻ ȣǥ 谡 ʿ üũ ʾҽϴ.
|
|
|
(2006/02/24 - Z) | |
ð |
ž |
ַθ |
뽺2 |
HK |
11:30 |
- |
83 |
- |
5 |
|
|
|
|
|
|
|
|
(2006/04/06 - ) | |
ð |
ַθ |
ѱ | ||
12:00 |
55 |
15 | ||
14:00 |
|
37 | ||
14:25 |
105 |
̾ϴ. Ž ٳ ۾̿ ģ Ž ô åϸ ĥ ַθ Ǹ ַθ ҿ ٸ Ҵ ̰ Ȯ߽ϴ.
մ ȣǥ ʴ° ƴϳİ ݷ ֽϴ. , Ҹ ä ַθ ̾ϴ. ҿ պٰ ؼ ƴ϶ ݷ ֽϴ. ܼϰ պ ̶ , ݷ Ǵٰ Ȯմϴ. ַθ Ҵ Ÿ Һ ּ 2 ̻ ġ ֽϴ.
2. ַθ ٸ ٸ?
ַθ ȴ, Ž ٳͼ Դϴ. ƽԵ ī ż ۷θ ǥؾ ϴ Ѱ谡 ֽϴ. Ͻ ٳñ⸦ մϴ. ̿ ְ, ϴ Ǻη κи ڽϴ.
. ַθ Źڰ ־ٴ Դϴ. ȿ ڰ ֺ ̿ Źڰ ִ ġ 4 ֽϴ. Դϴ. ̹ ʴ е鵵 ð, ַθ մϴ. ٸ鼭 Ǵ Ŀǿ 䱸Ʈ, 꽺, ̿ϸ鼭 Źڸ ֺ ȭ ֽϴ. ַθ 3 Ž Źڿ ĿǸ ֺ Ҹ ָӴϵ ־ϴ. ڿ Źڴ ݴ ɺ ǰ̾ϴ.
ٸ Źڳ ⸦ ãƺ , Ư ѱ θ ٶ ѷ ӽ ڸ ġ߽ϴ. ַθ ٸ ䷷ ⿴ϴ. Դٰ ϴ Ŀ ַθ ʹ Ǿϴ.
̴ϴ.
ٽ ƿͼ ַθ ϴ. Ʊ , ħϰ ʶ յDZ Դϴ. ַθ ȭ Ÿ ȭ ο ⸦ Ⱦ ֽϴ.
° м ٸ ſԴϴ. ſ. ־ ߿ϴٰ ϱ Դϴ. ;; ٸ 뽺 2 ϸ Ǵ ȸ Ȳ ߽Ű ־ϴ.
. VIP ȭ ߽ϴ. VIP ̺ ŷ ʼҰ ŭ ֽϴ. Ϲ 鿡 а ༭ ұԸ ġ Դϴ. Ư ȣ ѵ 5000 ġϴ , Ҿ״ ̴ ġԴϴ. ַθ VIP뵵 ٴ κ Ϲ ĭ̽Ƿ ġ߽ϴ. ѱ VIP븸 ̶ Ϲݰμ а ۿ ϴ. ٸ ƿ ų ʾұ ϴ. Դٰ ַθ κ ٸ Ͽ TV ġǾ ֱ Ϲݰ ڸ ƺԴϴ.
3. Ÿ CEO - Ӽ ַθ ȸ
ַθ ϳ ߿ Ÿ CEO Ӽ ַθ ȸ ֽϴ. Ӽ ȸ 2002 ħüǾ ִ ȣ μ ַθ ٲپ 翡 ̸ 濵 Դϴ. μ ڻ 3500̴ 2 2000 ø Ÿ CEO ݿ Ǿϴ.
2004 Ӽ ȸ ڸ Բϸ ø ִٴ 귯, Դϴ. ַθ 鿡 ָ λ縦 ϰ ִ CEO Ӽ ȸ ߸ Ǵϰ ־ ϴ. ( ϰ ʾ Ȥ ƴϾ ٽ غ Դϴ. ʹ ٸ ð 湮 ģ λϴ CEO ߴٰ մϴ.)
ٵ ַθ Ӽ ȸ ״ ÿ Ȱϰ ֽϴ. 鷯 Ӽ ȸ忡 簡 ġǾ ֽϴ. ϸ鼭 ڿ ŷڵ ִ Դϴ. ٸ ̷ ϴ. Դٰ ַθ ַθ á α ĿϿ ٸ ռ ֽϴ. ٸ 뽺 2 ϰ ֽϴ.
<ó : ̹ , Ž>
ð ãƿԽϴ. ַθ Ʈ Դϴ. ְƮ, ƮԴϴ. ôٽ ַθ ۳ 900%̻ Ͽ ġ ǥ 10Ÿ ̹ ߽ϴ. 10Ÿ Ŀ ַθ ϱ? 1~5 3 ҽϴ.
(2006.4.12 ߰, 2005 12 ں , ROE ں )
ȣ |
|
ְ |
PER |
PBR |
ROE |
ͷ |
1 |
ѱ |
18,700 |
2.10 |
0.84 |
54.16% |
2.67% |
2 |
ַθ |
23,850 |
5.51 |
2.01 |
58.07% |
0.60% |
3 |
HK |
5,750 |
-1.13 |
6.98 |
0.00% |
0.00% |
ϴ 濵 ǥ 밨 ö ְ ʴ HK Ѵٸ, ַθ ѱ ˴ϴ.
ռ ϴ ַθ PER 5.5, PBR 2 ROE ġ մϴ. δ 2005 12 α ȣ ȣ ȭå ǥ߽ϴ. δ BIS(ڱں) 8% ̻, Ͽź 8% (8,8 Ŭ) ѵ Ѽ ϰ, 3 5 ÷Ƚϴ. ġ ʿ ں ߾ ȣ ܾ ȸ α ֽϴ.
ַθ ӿ BIS 8~10% Ͽ ֱ μϸ鼭 BIS 6% , ֱ ڸ ٽ BIS ϴ(繫ǥ 8.3% ). Ͽź 5.05% ̸ Ϲݱ 2% ܷ ȹԴϴ. , 1 ַθ ȭ ɼ ſ ϴ.
(2005 12 - ó : ȣ߾ȸ)
ȸ |
BIS |
Ͽź |
ַθ |
6.96% |
5.05% |
ѱ |
11.67% |
17.53% |
HK |
3.15% |
28.07% |
ᱹ ְ ַθ ѱຸ PBR 踦 ְ ġ ֳĴ Ͱ˴ϴ. Ž , ַθ ѱ 谡ݿ ȷ ̻ ʴٰ ϴ. Ž濡 ַθ پ Ҹű 忡 ַθ ̾ ξ ο ִٰ ϱ Դϴ.
Ư ַθ 븶 10% ڶϸ 4~5% ѱ, HK еϰ ֽϴ. 4~5% 븶 , , λ 1 븶 1% ġ, ٸ Ѵٱ⺸ ַθ ϰ Ÿ ǥ մϴ. ַθ Good ̶ ϸ Great ɼ ϰ ִٰ մϴ.
̻ ַθ ż ϸ õմϴ.
* : ش ֽ ż/ŵ ȣ ƴϸ, ڿ å ο ͼӵ˴ϴ. ۾̴ (2006.4.12) Ʈ ַθ ϰ , ѱ ϰ ֽϴ.
ϴٰ ŵ, ƹ ̳
߰ϱ ӱݰ ٽ ߽ϴ. ᱹ پ.--;
ư Ʈ ϴ. ټ ְ , Ǵϴ ̱
߸ƴٰ һ ~
Ǹ ¿ ̰ ϴ. ceo ڼ Ǹ ְ Ͽ ģ Դϴ.
湮ϰ ٳ ÿ ̰ ̾ϴ.
ֱ ̰ 湮߾µ ϳ ʾҽϴ. θϴ ־ ּ ϴ λ ϴ.
ٸ Ӽ ȸ忡 縦 ġ ҽϴ.
ֱٿ 췮 ؼ ڱ ǥ 㰡Ѵٴ ҽĵ ִ. ָҸ ҽӿ и ϴ.
䱸Ʈ ֽϴ. ¥ . dz ִ Ŀǿʹ ٸ ̴ϴ! (!)
ð α ߰ڽϴ.
ַθ ° Ÿµ...
ȸ ڽϴ..
ѱ̶ ִ° Ȼ ƾ߰ڽϴ.
ѱ̴ 2 Ѿ ŷ ͽϴ.
⸻ 2000 ˴ϴ..
ȸ ֵϰ պϸ ٵ..
Ḣ Ʈ ϴ.^^
4 12 05.12 ڱں ϸ( ֽļ 14,302,040) PBR 3.29 Ǵ±..
ٷ ʿ䰡 Ƽ øϴ.. 05 12 ְ ƴϰ.... ̷ Դϴ.
CEOͺ信 2006 ġ 600̶ մϴ.
( Ҵٰ ϳ.)
ε Ÿ μ ȹ̶ ϴ.
ȹ ΰ ϴ...
ε ...
ù°, 湮 ԵǾ ֽϴ. ε Ŵϱ^^
°, ٸ ٲٰ,( äϰ), Źڸ , VIP ȭ ġ ö?
C ű鼭 reject ϰڽϴ^^
¥ ϴ ڿ 5õҶ Ȯ õϴ (̸ Ծ.) ڿ ...
ƹư £ δٰ Ҷ 缭 ũ Ծ ﳪ.....
ڽſԴ ϱ........
ƴ ........
3 ڿ 2뿡 ȸ .........
// PER PBR ϱ ؼ þ ں ؼ ϼž մϴ.
efana// ù°, 翬 ־ ɷԴϴ. Դٰ Z ֺ ̰ ũ ʾҴ մϴ. °, ַθ ִٸ ġ ڿ öٰ մϴ. װ ƴٳ ø մϴ.(뽺2 ̶ Ȥ ڽϴ.)
HONMA// ½ϴ. ѹ 鷯 ʰ ſ ȸϰ ֽϴ. H2 縦 ٲ㼭 ڸ, 'ºθ ͵ ͵ ƴϾ... ٸ Ž 1 ʾ. װ ̾.' ڱ.
Ŀ þ ں ƴմϴ.(ں þ þ ƴϰ) ƿ PBR 05 12 ڱں þ ֽļ Դϴ.
.. ֽļ 8,865,417ָ 05 12 3б PER 꿡 ̿ϼ̳..
۳ ַθ ż ǥ 25,000 س Ȧ ߿ γ 20,000 α( Ǹ ) ֱ.
ڸ... ϴ Z̸ֺ ٵ
' Źڿ ĿǸ ֺ Ҹ ָӴϵ ־'
״ ҽ ƴѰ Դٰ κ âϴ ͱ ִµ...VIP Ҷ....
PBR,PER ں Ͽ ϸ
ѱ ڻ Ͽ ġ ϴ° ʳ
ͽϴ ...
ٸ ۸κ λ 9 帮ڽϴ ^^
оϴ
3 ٷ PER, PBR ؾ߰, ۼñⰡ ʹ ʾ ¿ 2005 12 ðѾ//ں Ͽϴ.
// VIP Ҹ ϴ° ƴ϶ ٲ Ѵٰ ϱ 떄 ߽ϴ. Ư ѱ VIP Ϲ 鿡 а ֱ ġ( ) Ǿ ־ϴ. ѱ PER, PBR ΰġ Ͽ, ȸ Ͽź ֽϴ.
а ֽϴ....
Ե ...
ѱ 뽺 ַθ ʾҴµ Ϸ ް ؼ ߰ڳ... ݸ غ µ ϳ...
ƴϾٸ Źڿ ξ ū Ÿ Ǿ̴ϴ.
ܱ ģ 18000뿡 żҷٰ ƴµ ٸ
ѱ ξ ..
δ ְ ͽϴ.
ũ ̴ ceo ..
Ϲݱ Ȯ ͼ ˴ϴ. ö.. ϸ 츸մϴ..^^
Bestib// ڻ ڻ꿡 ŭ ŵξ ִ° ؾ մϴ. ڻ ܼ ο ǰ ִٰ ؼ ƴմϴ.
оϴ.
մϴ.
̴ϴ ...
ڴ... Ѱ ؼ ص
簡 19300 ̹б 600 Ѵٰ
PER 2.81
PBR 1.54
.. ^^
ܼ ְ 嶧̶, żٵ ε ΰ Ǵ ȼ Դϴ. ̹ ؾ...
־ ľ
ϰڽϴ.
'ΰ' ῡ Ͽ
ϰ ϳ.
ϼ
ѹ ܰ ǰ ̱...-_-;
۵ оϴ.
ν̹ PER ο մϴ.
, ںȣ å Ϲ ݸ
ã ð ִ Դϴ.
, ַθ .
̷ 纼ϴٴ ̱.
ٽ ,
â ô ̱~!!!
̱ о Ѱ ...
ð ʿ ϱ...
ַθ ѱ ̴....
ڸε ȸ ñ..
Ȥ ź? 3 ʿ ..^^