InskoBi Announces First-Half Results...Operating Profit Turns Positive

KOSPI-listed company InskoBi announced on the 18th that, based on its consolidated earnings report for the first half of the year, it recorded sales of 52.9 billion KRW, operating profit of 400 million KRW, and a net loss of 25.9 billion KRW.

Compared to the same period last year, sales increased by 8% and operating profit turned positive, showing improvement. However, the net loss increased by 73%.

The deterioration in InskoBi's performance is not due to issues within the company itself, but rather stems from a decline in the stock price of its subsidiary, Cellumed.

In March, Cellumed received an enforcement order from the Seoul Southern District Court regarding its loss in a lawsuit against Buechel-Pappas Trust·Biomedical Engineering in the United States. Currently, the settlement negotiations between Cellumed and Buechel-Pappas over the compensation amount are in their final stages.

In this first-half earnings disclosure, InskoBi received a disclaimer of opinion from its accounting firm. As a result, trading of its shares will be suspended for one day on the 18th, and the company will be designated as an issue for administrative supervision.

An InskoBi representative stated, "We will work to finalize the settlement between Cellumed and Buechel-Pappas as soon as possible to enhance our corporate value," adding, "Within the year, we will improve our financial soundness and performance by selling assets such as Nano Silicon."

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