[Featured Stocks] Celltrion Trio Rises as Uncertainty Over 'Intentional Accounting Fraud' Clears Up

[Asia Economy Reporter Hwang Yoon-joo] The stock prices of the three Celltrion companies are rising simultaneously. This is interpreted as an upward trend following the resolution of uncertainties related to 'intentional accounting fraud.'

As of 10:05 AM on the 14th, Celltrion Healthcare is trading at 72,700 KRW, up 9.16% (6,100 KRW) compared to the previous trading day. Celltrion Pharm is up 11.54% (10,800 KRW) at 103,000 KRW, and Celltrion is trading at 186,000 KRW, up 7.51% (13,000 KRW).

Earlier, on the 11th, the Financial Services Commission's Securities and Futures Commission (SFC) announced that the accounting standard violations by the three Celltrion companies were considered 'gross negligence' but not intentional accounting fraud.

The SFC imposed measures on the three Celltrion companies for ▲overstatement of development costs ▲failure to disclose related party notes ▲non-recognition of inventory valuation losses of subsidiaries ▲overstatement of development costs with low technical feasibility, including fines, designation of auditors for two years, and recommendations for internal control improvements.

With the three Celltrion companies removed from the list subject to the delisting suitability review (trading suspension), investor sentiment appears to have been stimulated, leading to a sharp rise.

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