Dx&Vx Holds Regular General Meeting of Shareholders... "Smooth Progress in Organizational Improvement After New Management Joined"

[Asia Economy Reporter Chunhee Lee] Dx&Vx announced on the 30th that it held its first regular shareholders' meeting after the management change at Daeryung Post Tower in Gasan-dong, Geumcheon-gu, Seoul.

At the shareholders' meeting, Dx&Vx reported its business performance including sales of 7.47 billion KRW, operating loss of 4.786 billion KRW, and net loss of 7.884 billion KRW for the previous year, approved the financial statements, and resolved key agenda items such as appointing Kim Janghee, CEO of Cori Company, as a new inside director. The company explained that the operating loss decreased by about 1.2 billion KRW compared to the previous year, and the increase in net loss was due to higher net losses incurred in the process of writing off existing impaired assets.

In December last year, Dx&Vx held an extraordinary shareholders' meeting and changed its name from Cancerop to Dx&Vx, expressing its intention to add vaccines (Vx) to its diagnostic (Dx) business based on accumulated infrastructure. The company also replaced its management by appointing Park Sangtae as CEO and Lee Yonggu and Lim Jongyun as new inside directors.

At the shareholders' meeting, CEO Park said, “Since the new management joined last year, the overall structural improvement work is progressing smoothly, and domestic and overseas sales activities are also actively underway.” He added, “We will do our best to launch new vaccine drugs and diagnostic drugs through open innovation in cooperation with the KHUB Foundation and to enter overseas markets. We will strive to exceed last year’s sales in the first half of 2022, achieve profitability, and resume trading early based on the performance of all ongoing new business sectors.”