On news that Syntekabio(226330)'s semiannual report received an "adverse opinion," the stock plunged straight to the lower limit (the bottom of the daily price band).
As of 9:13 a.m. on the 18th, Syntekabio was trading on the KOSDAQ at 1,048 won, down 449 won (29.99%) from the previous transaction day.
On the 14th, after the market closed, Syntekabio disclosed that it had received an "adverse opinion" on its semiannual report from Samjong KPMG through a filing.
The reason was that sufficient and appropriate audit evidence had not been obtained to confirm the legitimacy of the lending transaction and the non-use of funds for unintended purposes.
Meanwhile, Syntekabio posted sales of 871.55 million won and an operating loss of 5.7 billion won in the first half of this year. Total assets were 37.9 billion won, liabilities were 12.0 billion won, and total equity was 25.9 billion won.