{
  "channel": "tradingview_ideas",
  "slug": "en-krx-20261104_1830-live-dart-audit",
  "tv_symbol": "KRX:281820",
  "company_en": "KC Tech",
  "direction_tag": "Long",
  "timeframe": "1D",
  "title": "KRX:281820 — KC Tech: 3Q26 K-IFRS Operating Margin (20.10%) & Valuation Anchors",
  "body_markdown": "1. PRIMARY FILING CATALYST (FSS OpenDART K-IFRS)\n• Company & Symbol: KC Tech (KRX:281820)\n• Filing Receipt No.: 20261104800612 (영업(잠정)실적(공정공시))\n• 3Q26 Revenue: 100.5B KRW\n• 3Q26 Operating Profit: 20.2B KRW (+35.6% YoY) | Operating Margin: 20.10%\n• Implied Operating Earnings Multiple: 18.0x Annualized Run-Rate OP\n\n2. MACRO, FX & POLICY REGIME TRANSMISSION\n• Macro Context: KOSPI 5,683.80 | USD/KRW 1,340.73 | US 10Y Treasury Yield 4.90%\n• Policy Vector (US BIS HBM/Advanced-Node Export Controls, CHIPS Act Guardrails & K-Chips Tax Credits): Tightening US BIS export controls on high-bandwidth memory and advanced packaging tools—alongside Korea's National Strategic Technology tax-credit extensions (K-Chips Act)—are concentrating capital expenditure into domestic HBM/testing leaders while compressing legacy commodity-wafer suppliers.\n\n3. FUNDAMENTAL VALUATION ANCHORS & IMPLIED PRICE LEVELS\n• Spot Price Reference: ₩42,100 (Current P/B: 2.52x)\n• Implied 0.80x P/B Support Zone: ₩13,365\n• Implied 1.00x P/B Book-Value Parity Level: ₩16,706\n• Implied 1.20x P/B Re-Rating Band: ₩20,047\n\n4. GLOBAL PEER BENCHMARK & RISK PARAMETERS\n• Global Supply-Chain / Sector Peers: $AMAT $LRCX\n• Key Invalidation / Risk Factor: Margin compression below sector baseline or adverse USD/KRW shift.\n• Note: Compiled by AsiaFilingNotes from primary K-IFRS regulatory disclosures. Personal analysis record, not investment advice.",
  "tv_chart_url": "https://www.tradingview.com/chart/?symbol=KRX%3A281820",
  "external_url_count": 0
}