Shares of secondary battery materials corporations Enchem were strong early on the 25th. With the filing of its audit report delayed, buying is seen building after the company posted a notice saying it received an "unqualified" opinion.
As of 9:29 a.m. on the day, Enchem was trading at 34,250 won, up 4,300 won (14.36%) from the previous session.
Enchem said on its website the same day, "On the morning of the 25th, we received the audit report for fiscal 2025 from our external auditor, Samil Accounting Corporation, and the audit opinion is 'unqualified.'"
It added, "We submitted it to the exchange immediately upon receipt of the audit report, and the review process is underway," and noted, "We deeply apologize to investors for the confusion caused by the delay in this submission and will do our utmost in internal controls to prevent a recurrence of the same issue." A filing with the exchange has not yet been made.
Meanwhile, on the 23rd after the regular session closed, Enchem disclosed that the filing of the report was being delayed. It failed to provide sufficient audit evidence to form the audit opinion. As a result, the previous day Enchem shares fell to 29,950 won, hitting the lower limit (the bottom of the daily price band).
Separately, Enchem disclosed that due to the sale of the largest shareholder's equity, the largest shareholder changed from Oh Jeong-gang and four others to Wyatt Group Co., Ltd. and one other. Wyatt Group is a company wholly owned by CEO Oh Jeong-gang.