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    Yushin Park

    Vice President and Equity Analyst at HSBC

    Yushin Park is a Vice President and Equity Analyst at HSBC focusing on Asian financial institutions, with specialized coverage of major companies such as Samsung Life, KB Financial Group, Hana Financial Group, and Shinhan Financial Group. Park is recognized for rigorous bottom-up research and has achieved strong performance metrics, including a success rate above 65% on analyst platforms and consistently above-benchmark portfolio returns for covered stocks. Beginning their career at HSBC in 2017 following analyst experience at CLSA and Nomura, Yushin has expanded coverage to over a dozen listed entities while earning FINRA Series 7 and 63 licenses. Their analysis has received industry recognition through institutional investor polls and has contributed to HSBC's strong franchise in Asian financials research.

    Yushin Park's questions to POSCO HOLDINGS (PKX) leadership

    Yushin Park's questions to POSCO HOLDINGS (PKX) leadership • Q2 2024

    Question

    Yushin Park from HSBC requested an update on capital expenditures for the current and next year, including the impact of cash from restructuring, and asked for an outlook on when the lithium business might reach its break-even point given market oversupply.

    Answer

    An executive stated that this year's CapEx plan was slightly reduced due to market conditions, with next year's plan projected around KRW 10 trillion. Cash from restructuring is earmarked for shareholder returns and growth investments. Regarding lithium, management believes prices have bottomed but recovery is uncertain (2026-2028). The current focus is on ramping up production to be ready for a market rebound rather than a specific break-even date.

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    Yushin Park's questions to POSCO HOLDINGS (PKX) leadership • Q2 2024

    Question

    Inquired about updates to the company's CapEx plans for the current and next year, and how cash from restructuring would be used. Also asked for an outlook on the lithium business, specifically when it is expected to reach its break-even point.

    Answer

    The company has reduced this year's CapEx due to market conditions but expects next year's to be around KRW 10 trillion, funded partly by restructuring cash which will also go to shareholder returns. Reaching the break-even point for lithium is dependent on a price recovery, which is uncertain (2026-2028 forecast). In the meantime, they are focusing on ramping up production to be ready for the rebound.

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