EdisonEV Fails to Submit Confirmation Letter Resolving Auditor's Disclaimer of Opinion... Facing Delisting Risk

[Asia Economy Reporter Jang Hyowon] EdisonEV announced on the 11th that it failed to submit the 'Auditor's Confirmation of Resolution of Reasons' regarding the disclaimer of opinion in last year's audit report.

EdisonEV informed the exchange that the same auditor's confirmation regarding the resolution of the reasons will not be issued, and stated that this constitutes grounds for delisting under the KOSDAQ listing regulations.

Previously, on the 29th of last month, EdisonEV submitted an audit report from its external auditor, Samhwa Accounting Corporation, which issued a disclaimer of opinion on last year's financial statements due to uncertainty about the company's ability to continue as a going concern.

In such cases, if the company fails to submit the confirmation from the same auditor resolving the issue within the deadline, it constitutes grounds for delisting.

The KOSDAQ Market Headquarters of the Korea Exchange announced, "Grounds for delisting under the KOSDAQ listing regulations have occurred for EdisonEV," and added, "The company may file an objection within 15 business days (by May 2) from the date of receiving the delisting notice. If no objection is filed, the delisting process will proceed."

As grounds for delisting have arisen, the suspension of stock trading remains in effect. EdisonEV's stock trading has been suspended following the disclosure of the adverse audit opinion.