Daehan Green Power Submits Audit Report with 'Appropriate' Opinion

[Asia Economy Reporter Hyungsoo Park] Daehan Green Power has submitted an audit report with an 'unqualified' opinion. Having succeeded in turning a profit last year, it removed the 'management item' label after about a year.

Daehan Green Power announced on the 21st that it submitted the 2021 audit report and was delisted from the management item status.

Daehan Green Power recorded sales of 22.3 billion KRW and operating profit of 2.1 billion KRW last year. Until 2020, it had recorded operating losses for four consecutive years. It was designated as a management item due to losses from continuing operations before income tax expenses.

A company official said, "We made efforts last year to improve our structure intensively and secure financial soundness," adding, "Thanks to the performance of renewable energy businesses such as solar and wind power, we achieved stable external growth as well as turned a profit."

Daehan Green Power expects profitability to improve based on the renewable energy business, a new growth engine, entering its main track.

The company official explained, "We are reflecting wind power and solar power orders secured in 2019 and 2020 as actual sales," and added, "Monthly sales last year increased stepwise."

He continued, "By expanding renewable energy businesses including onshore wind power, solar power, and offshore wind power, we secured orders worth approximately 46 billion KRW last year alone," and explained, "As of the end of last year, the order backlog reached 75 billion KRW."

He further emphasized, "We sell modules based on EPC (Engineering, Procurement, and Construction) project permits," and added, "By restructuring the bio heavy oil business, which had large losses, profitability will improve further."

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