Core Viewpoint - The article emphasizes the importance of timing and sustainability in stock trends for successful short-term investing, highlighting the need for strong fundamentals to maintain momentum [1][2]. Group 1: Stock Performance - Shinhan Financial (SHG) has shown a solid price increase of 37.9% over the past 12 weeks, indicating strong investor interest [4]. - The stock has also increased by 19.2% in the last four weeks, suggesting that the upward trend is still intact [5]. - Currently, SHG is trading at 84.1% of its 52-week high-low range, indicating a potential breakout [5]. Group 2: Fundamental Strength - SHG holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [6]. - The stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term performance [7]. Group 3: Investment Strategy - The "Recent Price Strength" screen is a useful tool for identifying stocks like SHG that are on an uptrend supported by strong fundamentals [3]. - The article suggests that there are other stocks passing through this screen, encouraging investors to explore additional opportunities [8].

Core Viewpoint - The article highlights Shinhan Financial Group Co (SHG) as a strong value investment opportunity, supported by various financial metrics indicating it is undervalued compared to its industry peers [3][7]. Financial Metrics - SHG holds a Zacks Rank of 2 (Buy) and a Value grade of A, with a current P/E ratio of 5.78, significantly lower than the industry average of 9.42 [3]. - The company's PEG ratio is 0.50, which is also below the industry average of 0.75, indicating favorable earnings growth expectations relative to its price [4]. - SHG's P/S ratio stands at 0.83, compared to the industry's average of 1.57, suggesting that the stock is undervalued based on sales performance [5]. - The P/CF ratio for SHG is 4.57, well below the industry average of 16.08, further supporting the notion of undervaluation based on cash flow [6]. Investment Outlook - The combination of these metrics suggests that Shinhan Financial Group Co is likely undervalued at present, making it an attractive option for value investors [7].

Core Viewpoint - The article emphasizes the importance of value investing and highlights Shinhan Financial Group Co (SHG) as a strong value stock based on various financial metrics [2][8]. Group 1: Company Overview - Shinhan Financial Group Co (SHG) currently holds a Zacks Rank of 2 (Buy) and a Value grade of A [4]. - The stock is trading with a P/E ratio of 5.12, significantly lower than its industry's average of 9.25 [4]. - Over the last 12 months, SHG's Forward P/E has fluctuated between 4.11 and 6.79, with a median of 5.15 [4]. Group 2: Financial Metrics - SHG has a PEG ratio of 0.44, which is lower than the industry average of 0.73, indicating strong earnings growth potential relative to its price [5]. - The stock's P/S ratio is 0.74, compared to the industry's average of 1.5, suggesting it may be undervalued [6]. - SHG's P/CF ratio stands at 4.63, well below the industry's average of 14.81, indicating a solid cash flow outlook [7]. Group 3: Investment Potential - The combination of SHG's favorable financial metrics and strong earnings outlook suggests that the stock is likely undervalued at the moment [8].

Core Insights - Investors are evaluating Shinhan Financial (SHG) and Nu Holdings Ltd. (NU) for potential undervalued stock opportunities [1] Group 1: Company Rankings - Shinhan Financial has a Zacks Rank of 2 (Buy), indicating a positive earnings estimate revision trend, while Nu Holdings has a Zacks Rank of 3 (Hold) [3] - The improving analyst outlook for SHG suggests a more favorable investment position compared to NU [3] Group 2: Valuation Metrics - SHG has a forward P/E ratio of 4.95, significantly lower than NU's forward P/E of 22.48 [5] - The PEG ratio for SHG is 0.44, while NU's PEG ratio is 0.67, indicating SHG's better valuation relative to its expected EPS growth [5] - SHG's P/B ratio is 0.42, contrasting with NU's P/B of 7.65, further supporting SHG's valuation advantage [6] - These metrics contribute to SHG's Value grade of A and NU's Value grade of C, suggesting SHG is the more attractive option for value investors [6]

Company Overview - Shinhan Financial Group Co (SHG) currently has a Zacks Rank of 2 (Buy) and an A grade for Value [3][6] - The stock has a P/E ratio of 4.89, significantly lower than the industry average P/E of 9.16 [3][6] - Over the past 52 weeks, SHG's Forward P/E has fluctuated between 4.11 and 6.79, with a median of 5.27 [3] Valuation Metrics - SHG has a PEG ratio of 0.44, compared to the industry average PEG of 0.73 [4][6] - The PEG ratio for SHG has ranged from 0.37 to 0.74 over the past year, with a median of 0.56 [4] - The P/S ratio for SHG is 0.69, while the industry average P/S is 1.38 [5][6] Investment Potential - The metrics indicate that Shinhan Financial Group Co is likely undervalued at the moment [6] - The strength of SHG's earnings outlook further supports its position as a great value stock [6]

Core Points - Shinhan Financial Group filed its Annual Report on Form 20-F for the year ended December 31, 2024 with the U.S. Securities and Exchange Commission on April 23, 2025 [1] - The annual report is accessible on Shinhan Financial Group's official website and the SEC website [1] - Shareholders can request a hard copy of the annual report free of charge via email [2]

Table of Contents As filed with the Securities and Exchange Commission on April 23, 2025 (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For t ...

Financial Performance - Profit for the year reached W 4,558,170 million in 2024, a slight increase from W 4,478,000 million in 2023, marking a growth of 1.8%[35] - Total comprehensive income for the year decreased to W 3,812,505 million in 2024 from W 5,322,389 million in 2023, a decline of 28.3%[35] - Basic and diluted earnings per share increased to W 8,441 in 2024, up from W 8,048 in 2023, reflecting a growth of 4.9%[35] - Net interest income rose to W 11,402,302 million in 2024, compared to W 10,817,922 million in 2023, reflecting an increase of 5.4%[34] - Interest income grew to W 29,209,338 million in 2024, compared to W 27,579,211 million in 2023, an increase of 5.9%[34] - Net insurance income decreased to W 983,166 million in 2024 from W 1,113,615 million in 2023, a decline of 11.7%[34] Assets and Liabilities - Total assets of Shinhan Financial Group increased to KRW 739,764,256 million in 2024, up from KRW 691,795,333 million in 2023, representing a growth of approximately 6.9%[30] - Total liabilities increased to W 680,943,223 million in 2024, up from W 635,473,468 million in 2023, representing a growth of 7.1%[31] - Loans at amortized cost rose to KRW 449,295,238 million in 2024, compared to KRW 411,739,562 million in 2023, indicating an increase of about 9.1%[30] - Cash and due from banks at amortized cost increased to KRW 40,525,712 million in 2024 from KRW 34,629,251 million in 2023, marking a rise of approximately 17.3%[30] - The Group's total liabilities also increased, reflecting the overall growth in assets and financial activities[30] Equity and Retained Earnings - Total equity attributable to equity holders of Shinhan Financial Group rose to W 56,053,756 million in 2024, compared to W 53,720,537 million in 2023, an increase of 4.3%[31] - Retained earnings increased to W 39,020,580 million in 2024, up from W 36,387,314 million in 2023, indicating a growth of 4.5%[31] - The balance at December 31, 2023, showed total equity attributable to equity holders of 56,321,865 million won, indicating a strong financial position[40] Cash Flow and Investments - Net cash inflow from operating activities significantly increased to W 4,626,299 million from W 529,846 million in 2023[48] - Proceeds from disposal of securities at fair value through other comprehensive income rose to W 44,576,886 million, compared to W 36,748,023 million in 2023, indicating a growth of approximately 21.2%[48] - Cash and cash equivalents at the end of the year increased to W 35,247,543 million from W 30,416,884 million, marking an increase of approximately 16.3%[49] Financial Reporting and Compliance - Management is responsible for ensuring the preparation of consolidated financial statements in accordance with K-IFRS, emphasizing the importance of internal controls[19] - The audit report expressed an unmodified opinion on the effectiveness of the Group's internal control over financial reporting as of December 31, 2024[7] - The consolidated financial statements were authorized for issue by the Board of Directors on February 6, 2025, and will be submitted for approval at the stockholders' meeting on March 26, 2025[58] - The Group's financial statements are prepared in accordance with K-IFRS, with significant judgments and estimates affecting reported amounts of assets, liabilities, income, and expenses[60] Credit Losses and Provisions - The allowance for credit losses for loans was recognized at KRW 4,565,931 million as of December 31, 2024, reflecting the application of the Expected Credit Loss impairment model[10] - The provision for allowance for credit loss was 2,013,274 million won, down from 2,244,503 million won in 2023, showing a decrease of approximately 10.3%[46] Insurance and Financial Instruments - The Group estimates future cash flows for insurance contracts using a probability-weighted average based on all relevant information available[167] - The Group measures insurance liabilities as the sum of fulfillment cash flows and contractual service margin at initial recognition[165] - Insurance revenue is recognized based on expected amounts received for providing insurance services, including changes in liabilities for remaining coverage[199] Derivatives and Financial Assets - The fair value of level 3 derivatives was reported at KRW 718,788 million, while the fair value of derivative-linked securities issued amounted to KRW 7,146,909 million as of December 31, 2024[15] - The Group utilizes various derivative contracts, including forward exchange contracts and interest rate swaps, to manage interest rate and foreign exchange risks[101] Capital Management - The total capital stock of Shinhan Financial Group amounted to W 1,461,721 million as of December 31, 2024[51] - The retirement of treasury stock resulted in a reduction of 486,028 million won in equity, indicating a proactive approach to capital management[40]

Group 1 - The core focus of the research service is on identifying Asia-listed stocks that exhibit a significant disparity between their market price and intrinsic value, particularly emphasizing deep value balance sheet bargains and wide moat stocks [1] - The stock rating for Shinhan Financial (NYSE: SHG) has been upgraded to a Buy, indicating positive expectations for the company's financial performance [1] - The author of the investing group Asia Value & Moat Stocks provides investment ideas specifically for value investors interested in the Hong Kong market, highlighting a strategy that includes deep value and high-quality businesses [1]

Core Viewpoint - Investors are evaluating Shinhan Financial (SHG) and Bank of Nova Scotia (BNS) for potential undervalued stock opportunities, with SHG currently appearing as the more favorable option based on various financial metrics [1]. Valuation Metrics - SHG has a forward P/E ratio of 5.40, significantly lower than BNS's forward P/E of 11.10, indicating that SHG may be undervalued [5]. - The PEG ratio for SHG is 0.55, while BNS has a PEG ratio of 1.24, suggesting that SHG is expected to grow earnings at a more favorable rate relative to its price [5]. - SHG's P/B ratio stands at 0.42, compared to BNS's P/B of 1.23, further indicating that SHG's market value is lower relative to its book value [6]. Zacks Rank and Value Grades - SHG currently holds a Zacks Rank of 2 (Buy), reflecting a positive earnings outlook, while BNS has a Zacks Rank of 4 (Sell) [3]. - Based on the analysis of various metrics, SHG has a Value grade of B, whereas BNS has a Value grade of C, reinforcing the view that SHG is the better investment choice for value investors at this time [7].