Abko "Executive Gift Tax Controversy... Unrelated to Business Progress and Management"

Abko stated on the 12th that the reports regarding gift tax on current and former executives are "a personal issue unrelated to business operations and management."

An Abko representative said, "According to confirmations from the CEO and executives, they are undergoing a tax investigation related to shares gifted before the company’s listing," adding, "It is unreasonable to interpret an individual’s tax issue as a matter concerning the company’s management or business operations."

They continued, "Although we requested corrections to the articles, only some parts were amended, and there are still expressions that could cause misunderstandings," emphasizing, "This is a personal matter completely unrelated to Abko’s business operations."

Abko expects sales to increase again this year following last year, having achieved the performance planned earlier this year in the Smart School charging locker business sector. The company is efficiently restructuring its business model aiming for a turnaround this year and is working on discovering future growth engines.

Its in-house brand, 'PadBank,' has received excellent evaluations in educational settings based on numerous patented technologies and references. Abko is responsible for the overall planning, manufacturing, distribution, and sales of PadBank, enhancing its competitiveness.

A company representative stated, "The tax from the stock gift is paid by individuals, not the company," and added, "At this critical time when the CEO and employees are working together for a turnaround, we will respond strictly to any actions that could negatively affect corporate value and business progress."

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