Medicox "All penalty points cleared on the 18th, securing transaction stability... Focusing on responding to Chosun orders"

[Asia Economy Reporter Jang Hyowon] MedicoX, a KOSDAQ-listed company, will have all penalty points imposed last year for failure to disclose resolved by the 18th of this month.

MedicoX was penalized 9 points by the exchange last May for "delayed disclosure of contract conclusion regarding change of management rights," categorized as "failure to disclose." Following the 4 points resolved earlier this year upon notification from the exchange, the remaining 9 penalty points will also be cleared, securing trading stability. The company plans to focus on solid management centered on improving performance.

A MedicoX official stated, "Since some shareholders had concerns about the risk of trading suspension, we reviewed various scenarios regarding the imposed penalty points and conducted careful investor communication both internally and externally. We are now approaching the resolution of all final penalty points. We thank shareholders and investors for their continuous support and encouragement throughout this process, and we will continue to fulfill our responsibilities and duties as a listed company through transparent management and market communication."

With all penalty risks set to be cleared by the 18th, MedicoX, having successfully completed fundraising through a recent capital increase of approximately 23 billion KRW, intends to focus on strengthening business unit competitiveness and securing new growth engines, dedicating efforts to comprehensive corporate restructuring.

The company explained that, especially in line with the recent supercycle in the shipbuilding industry, order volumes centered on the shipbuilding division are continuously increasing. They are actively taking preemptive measures for detailed items such as ▲ facility and workforce reinforcement ▲ securing storage locations before shipment.

A company representative said that through workforce and facility reinforcement, the existing production system of about 1,200 tons per month has begun expansion work to over 2,000 tons per month. To this end, they are focusing on establishing a stable productivity improvement system by replacing and additionally purchasing essential equipment such as tower cranes and welding machines, and recruiting block manufacturing personnel. They also plan to maximize production efficiency at the block manufacturing plant by leasing storage yards for production blocks.

Additionally, MedicoX recently announced plans to build an integrated pharmaceutical and bio logistics infrastructure spanning 50,000 pyeong in Pyeongtaek City, the largest in Korea with GDP quality certification for pharmaceuticals, aiming to strengthen competitiveness in the bio business division, which was promoted as a new business last year. They have formed a consortium with GMP consulting specialist BioSupport and developer B&B Company.

This content was produced with the assistance of AI translation services.