WaveElectro Faces Delisting Cause... Suspension of Stock Trading
[Asia Economy Reporter Ji Yeon-jin] Wave Electro, a key module supplier for the RF transmitter section of mobile communication base stations and wireless communication systems, announced on the 23rd that it has triggered reasons for designation as a management stock or delisting at the internal settlement timing due to continuous business losses before corporate tax exceeding 50% of equity in 2 out of the last 3 fiscal years.
The company recorded sales of 28.2 billion KRW last year, a 19.5% increase, but operating losses expanded by 50.4% to 10.8 billion KRW, and continuous business losses before corporate tax increased by 49% to 20.5 billion KRW. The company stated, "If the reason for continuous business losses before corporate tax in the recent fiscal year (2020) is confirmed by the audit report, it may be designated as a management stock."
Hot Picks Today
As Samsung Falters, Chinese DRAM Surges: CXMT Returns to Profit in Just One Year
- "Most Americans Didn't Want This"... Americans Lose 60 Trillion Won to Soaring Fuel Costs
- Man in His 30s Dies After Assaulting Father and Falling from Yongin Apartment
- Samsung Union Member Sparks Controversy With Telegram Post: "Let's Push KOSPI Down to 5,000"
- "Why Make Things Like This?" Foreign Media Highlights Bizarre Phenomenon Spreading in Korea
The KOSDAQ Market Headquarters suspended trading of the company's stock from 2:41 PM until the market close on the same day.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
