|Bid||217,500.00 x 0|
|Ask||218,000.00 x 0|
|Day's range||215,000.00 - 218,500.00|
|52-week range||212,000.00 - 283,000.00|
|PE ratio (TTM)||N/A|
|Earnings date||26 Jul 2018 - 30 Jul 2018|
|Forward dividend & yield||3,500.00 (1.60%)|
|1y target est||297,222.00|
SEOUL—South Korean auto-parts maker Hyundai Mobis Co. abruptly called off its planned restructuring, handing an early victory to U.S. activist hedge fund Elliott Management Corp., which had led the opposition to the deal. Hyundai Mobis had pitched the deal, under which it would sell a chunk of itself to shipping and logistics affiliate Hyundai Glovis Co., as “the best choice…to strengthen future competitiveness.” But investors and analysts widely saw it as a scheme to strengthen the shareholding position of the heir apparent of Hyundai Motor Group, 47-year-old Chung Eui-sun. Mr. Chung is vice chairman of Hyundai Motor Co., the crown jewel of Hyundai Motor Group.
Hyundai Mobis (012330.KS) plans to use its proving ground, which opened last June in Seosan, South Chungcheong Province, as a test bed for new technologies, with the goal of becoming a leader in future car technologies. The automotive supplier announced at the proving ground that it plans to develop autonomous driving sensors, which are essential for future vehicles, by 2020, and lead the global market for autonomous driving based on its technology power.
Hyundai Mobis (012330.KS) is currently entering the market for digital clusters, a field which is on the rise as a driving information display solution for autonomous cars. For this, Hyundai Mobis produced a cluster equipped with a 7" display and applied it to Hyundai Kona EV. The company is also aiming to induce the development of a next-generation cockpit optimized for the era of autonomous driving.
Hyundai Mobis (012330.KS) won back-to-back orders from China this year, primarily for cutting-edge products, including head-up displays (HUD), premium sound systems, motor-driven power steering (MDPS) and headlamps. This is a notable feat considering that the company faced challenges in China last year due to the ongoing THAAD dispute. As of this May, Hyundai Mobis had attained an order volume of $423 million for core auto components in China, up nearly 50% from the orders it won throughout last year, as announced by the automotive supplier on the 9th.
Hyundai Mobis (012330.KS) announced a detailed plan for improving actual shareholder value. The three shareholder-friendly policies the company announced include retirement of treasury stock, quarterly dividends payment and mid- and long-term profit goals. At the special board of directors meeting held on 2nd, Hyundai Mobis resolved to retire all of the ordinary shares it acquired and holds within the range of profit available for dividends in next year and additionally purchase and retire ordinary shares worth 187.5 billion won for three years from next year.
Hyundai Mobis is transforming into a company that focuses thoroughly on future technology.
15 years after it began the development of chassis technology, Hyundai Mobis (012330.KS) finally succeeded in securing world-class technology in the car suspension system, following advances in braking and steering. With this new technology, the automotive supplier has been able to deliver optimal performance by integrating all chassis functions and improve the safety of automotive driving systems by raising control precision. Hyundai Mobis announced on the 24th that it had recently developed eARS (electrical Active Roll Stabilization), an electronic controlled suspension component.
U.S. activist investor Elliott Management has struck again in South Korea. The plan includes setting up a holding company to untangle Hyundai’s complex web of cross-shareholdings while increasing dividend payouts from some of its cash-rich affiliates.
Hyundai Mobis kicks off testing of its autonomous car M.BILLY on the roads around the world. The company now has three test cars, but will increase the number to over ten by the end of this year and increase engineers in the autonomous driving field more than 15% every year to put a concentrated effort into developing safe autonomous driving technology.
Hyundai Mobis , has established a 'Design Model Workshop', a cutting-edge design research facility in order to secure a competitive edge in auto component design. It is the first time in Korea that an automotive supplier, rather than a Global Automaker, has launched its own design research facility.
The hedge fund said it has accumulated shares in three listed affiliates of Hyundai Motor Group, signaling renewed interest in South Korea’s corporate-governance reforms.
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Hyundai Mobis , announced on Feb 6 that it has developed cutting-edge braking and parking technologies and will be the second to supply them in the world.