Namyeong Vivian Reissues Electric Audit Report... "Semiannual Review Limited Issue Resolved"
[Asia Economy Reporter Yoo Hyun-seok] Namyoung Vivian announced on the 4th that it has resolved the accounting issues related to the basic financial statements, which were the cause of the qualified opinion in the semi-annual review report last August, and based on this, the audit report with an unqualified opinion for the 2018 financial statements has been reissued.
Namyoung Vivian had previously received a qualified opinion from an external auditor due to issues pointed out regarding the quantity count of inventory from the previous period. With the reissuance of the previous period's audit report, Namyoung Vivian explained that the cause of the qualification in the semi-annual audit review report last year has been resolved, thereby eliminating investment uncertainty.
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Additionally, the company expects that this will have a positive impact on the stock prices of Ssangbangwool Group and its affiliates such as Ssangbangwool and Kwanglim, which acquired Namyoung Vivian.
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