Dong Won Fisheries, a deep-sea fishing and seafood specialist corporations, is launching a full-fledged value-up strategy to address undervaluation.
Dong Won Fisheries on the 29th, through a "letter to shareholders," said, "Despite the size of our tangible asset holdings and stable operating performance, the market has not fully recognized our corporations value," and unveiled its plan to push value-up. Dong Won Fisheries' price-to-book ratio (PBR) currently stands at 0.5.
The company has a stable revenue structure based on deep-sea fishing and seafood businesses, and holds a diversified portfolio through domestic and overseas subsidiaries and investment vehicles. In addition, competitiveness in tangible assets such as food processing and cold storage and logistics infrastructure is cited as a strength.
Dong Won Fisheries plans to improve its fundamentals by reviewing asset efficiency, streamlining noncore assets, reshaping its business structure around profitability, and strengthening performance management relative to investment. It also plans to significantly expand investor communications, which had been lacking, to transparently convey the company's intrinsic value and growth potential to the market.
A Dong Won Fisheries official said, "This value-up strategy is the company's strong commitment to enhancing shareholder value and restoring market trust," adding, "We will focus companywide capabilities so that the value of our asset holdings is properly recognized by the market."