[Special Stock] FSN Builds NFT Content to Platform Ecosystem... Preparing 'Undervalued' Tenbager

[Asia Economy Reporter Hyungsoo Park] FSN's stock price is soaring. A securities firm's analysis report stating that it is an undervalued zone with both valuation and momentum appears to have influenced the stock price.

As of 9:24 a.m. on the 19th, FSN is trading at 9,030 KRW, up 22.03% from the previous day.

Hana Financial Investment analyzed FSN as the largest shareholder of Makeus, which operates Dingo with 12 million YouTube subscribers, and expects it to establish its own NFT ecosystem by the end of this year. They explained that it has growth potential through the NFT ecosystem and that the value of its holdings exceeds its market capitalization, indicating it is ready to become a ten-bagger (a stock that rises tenfold).

Choi Jaeho, a researcher at Hana Financial Investment, said, "The value of FSN's subsidiaries alone exceeds 200 billion KRW," adding, "the market capitalization of CAULY's competitor, Wider Planet, is 140 billion KRW."

He continued, "The recent market capitalization of Clever Group, a subsidiary listed on the Ho Chi Minh Stock Exchange in Vietnam earlier this year, is about 43 billion KRW," and "the expected market capitalization of FSN Asia, a subsidiary scheduled to be listed on the Singapore Exchange in the first quarter of next year, is between 20 billion and 30 billion KRW."

Furthermore, "They already possess blockchain-based content copyright protection technologies such as ECHO and SNAP," emphasizing, "With NFT content, NFT issuance and distribution technology, and an NFT marketplace (platform) through Wookbi and Dingo content IP, which are core to the NFT business, FSN is a company that must be noted now."

He analyzed, "They possess NFT content, related technologies, and an NFT marketplace (platform), yet the price-to-earnings ratio (PER) based on next year's expected performance is only 17 times."

FSN is expected to complete the establishment of its own NFT ecosystem by the end of this year. Since 2018, to activate the NFT market, it has been operating the cryptocurrency exchange Six Networks in cooperation with Wookbi, the number one content platform in Thailand known as the KakaoPage of Thailand. They have also previously issued SIX (listed on Coinone) and FINIX tokens.

It is estimated to achieve sales of 217.1 billion KRW and operating profit of 11.2 billion KRW this year, representing increases of 32.8% and 161.1%, respectively, compared to last year. Next year, sales are expected to increase by 47.7% to 258.3 billion KRW, and operating profit is expected to increase by 47.7% to 16.6 billion KRW.

Researcher Choi said, "Starting from the 22nd, the girl group ‘t-ara’ will kick off the ‘K-pop NFT’ business in earnest," and introduced, "NFTs can be purchased with the SIX token issued by themselves." He emphasized, "It is possible to swap with various tokens on the cryptocurrency exchange Definix," adding, "This means they are completing the establishment of the NFT ecosystem."

This content was produced with the assistance of AI translation services.