[Edaily Reporter Kwon Oh Seok ] SAMG ENTERTAINMENT CO.,LTD(419530)Attention is focused on whether SAMG ENTERTAINMENT CO.,LTD will be able to generate momentum for a rebound in earnings and a recovery in its stock price ahead of the release of the second “Tinyping” theatrical film. On the 21st, SAMG ENTERTAINMENT CO.,LTD held a preview screening of “Love’s Hachuping: The Legend of the Whale Gem” at CGV Yongsan in Seoul and outlined its future plans and aspirations.

This film is the second installment in a three-part theatrical series and is scheduled for official release on August 5. Previously, in 2024, the first installment of the trilogy, *Love Hachuping*, was released and performed well, attracting 1.24 million viewers.
Kim Soo-hoon, CEO of SAMG ENTERTAINMENT CO.,LTD and director of the film, explained during a Q&A session with reporters that day, “We’re aiming for about 1.5 million viewers. We are concerned because several major films are opening simultaneously, but since our target audience is quite different and it’s the summer vacation season, we’re hopeful about its box office performance.”
Given that the first film recorded a 97% CGV Golden Egg Index and drove fanbase growth as well as toy and licensing sales, the key question is whether this new installment can reignite the full IP (intellectual property) growth story—extending from theaters to merchandise.
In fact, the company’s earnings trend has been somewhat volatile. SAMG ENTERTAINMENT CO.,LTD’s consolidated first-quarter revenue was 37.7 billion won, a 5.5% increase year-over-year, but operating profit fell 38.2% to 3.9 billion won, falling short of market consensus. This is attributed to rising personnel and research and development (R&D) costs associated with the launch of new IPs following “Tinipping.”
The stock price has also fallen from its 52-week high of 86,100 won to 28,650 won at today’s closing price, remaining at about half its peak value. Amid the volatility typical of content IP companies, analysts suggest that a tangible event is needed to restore investor confidence.
Analysts in the securities industry suggest that attention should be focused on the company’s IP pipeline, which combines the theatrical release with an OSMU (One Source Multi-Use) strategy that includes merchandise and other products.
Lee Hyun-ji, an analyst at EUGENE INVESTMENT & SECURITIES, stated, “The third quarter is typically a seasonal off-peak period, during which the company has consistently posted losses and reported weak earnings; however, this year’s third quarter is expected to fill that earnings gap with the release of the second installment of the three-part ‘Tinipping’ theatrical trilogy,” adding “We forecast that earnings will grow this year as diverse derivative revenue is generated through the sale of a wider variety of movie merchandise and licensed products via the company’s own offline stores,” she added.
He continued, “We plan to release ‘Catch! Tinipping Season 7’ in the fourth quarter of this year, and with the steady growth of the Tinipping IP complementing the film, we expect to set another record for highest earnings.”