Shares of KOSDAQ-listed Mobis fell sharply in intraday trading after the company was designated an unfaithful disclosure company, a sanction tied directly to investor trust and seen as weighing on sentiment.
As of 1:55 p.m. on the 21st, Mobis was trading at 4,955 won, down 685 won, or 12.15%, from the previous session. The Korea Exchange said the day before that it had designated Mobis as an unfaithful disclosure company for reversing a disclosure. The case involved the termination or cancellation of a stock transfer agreement that would have entailed a change in the company’s largest shareholder.
Mobis first disclosed the matter on Dec. 2 last year, then filed a reversal disclosure on Jan. 26 this year, prompting controversy over the reliability of its disclosures.
After a designation notice on Feb. 25, the exchange finalized the unfaithful disclosure designation on the 21st. The company received 5.0 penalty points and a 4 million won fine for the disclosure violation. The penalty points were initially set at 6.0, but 1.0 point was replaced with a monetary penalty.
Mobis operates in computer programming and systems integration and management. Revenue at the end of last year totaled 5,097.70 million won, little changed from the end of 2024 at 5,026.43 million won. Operating losses widened to 2,935.21 million won at the end of last year, compared with 2,393.80 million won at the end of 2024 and 2,133.50 million won at the end of 2023. Net profit also remained in the red, with a net loss of 1,052.60 million won at the end of last year.
* This article has been translated by AI.
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