Daewon Chemical's Land Revaluation Adds 42.7 Billion KRW to Equity, Boosting Book Value Per Share by Over 5,000 KRW
Daewon Chemical conducted an asset revaluation on its land at Osan factory.
The purpose is to reflect fair value under K-IFRS and improve financial structure.
Land book value increased from 36.3 billion KRW to 91.0 billion KRW, generating a revaluation gain of 54.8 billion KRW, resulting in a 12.0 billion KRW increase in deferred tax liabilities and a 42.7 billion KRW increase in revaluation surplus.
Based on 8,249,830 shares outstanding, book value per share rises by approximately 5,177 KRW, about 1.8 times the current stock price of 2,850 KRW.
The land proportion of total assets rises from 36.9%, lowering the debt-to-equity ratio, but the increased deferred tax liability implies future tax outflows.
[AI Summary]Daewon Chemical's land revaluation adds 42.7 billion KRW to equity, increasing book value per share by 5,177 KRW, well above the current share price of 2,850 KRW. While this strengthens the balance sheet and reflects asset value, the absence of concurrent capital allocation for expansion may limit near-term stock upside.