Daishin Securities Reports 2025 Net Income of KRW 186.7 Billion Dividend of KRW 94.4 Billion and ELB Issuance of KRW 25 Billion
Daishin Securities recorded a consolidated net income of KRW 186.7 billion for 2025 and plans to pay a total dividend of KRW 94.4 billion, with a dividend of KRW 1,200 per common share.
The company holds 12.32 million treasury common shares and disposed of 0.45 million shares during the period. It strengthened its financial structure by transferring KRW 400 billion from capital surplus to retained earnings.
It issued the 1115th Equity-Linked Bond ELB worth KRW 25 billion, with KEPCO common stock as the underlying asset, a maturity of 364 days, and an annual return of 3.95%. This ELB is not protected by the depositor protection act and carries potential principal loss.
The total trading position VaR increased sharply to KRW 32.3 billion at the end of the period from KRW 7.7 billion at the previous year-end, with equity price risk VaR of KRW 32.3 billion as the main risk factor.
The liquidity ratio on a separate basis is 145.05% stable and the liquidity gap is KRW 5.9 trillion.
Level 3 financial instruments on a consolidated basis amount to KRW 3.98 trillion, of which over-the-counter derivatives and derivative-linked securities are KRW 523.1 billion. A 10% change in unobservable inputs could change net income by up to KRW 50.5 billion.
[AI Summary]Daishin Securities is proactive in shareholder returns with stable profitability and a high dividend payout ratio, but investors should note the surge in trading VaR and uncertainty from large Level 3 assets. The ELB issuance is a product sale not capital raising creating no direct dilution but carries principal loss risk for investors.