HumanN, "Will Resolve Through Appeal" Regarding Disclaimer of Opinion

[Asia Economy Reporter Jang Hyowon] HumanN announced on the 24th that it will make every effort to resolve the delisting reasons and resume stock trading by filing an objection with the Korea Exchange regarding the opinion denial in last year's audit report.

HumanN's external auditor expressed an opinion denial on the financial statements for the 2021 fiscal year on the 21st due to a scope limitation in the audit. Accordingly, HumanN plans to file an objection with the Korea Exchange by April 11.

A HumanN official stated, "Despite ending the management dispute at the general meeting of shareholders on February 28 due to illegal actions by the M&A forces pursuing the Russian CoviVac vaccine business last year, it seems we failed to meet the audit standards required by the auditor. Currently, our main business, the steel scrap business, is growing with increased sales and operating profit in the first quarter, and we plan to do our best to maintain the listing through re-audit and other measures."

Last year, HumanN recorded sales of 47.2 billion KRW in its core business, a growth of approximately 749% compared to the previous year, and operating profit also turned positive.