[Into the Stock] Inosis, 17th Day of Decline... Sharp Fluctuations After Major Shareholder Change

[Asia Economy Reporter Ji Yeon-jin] Innosis has recently experienced a decline for 17 consecutive trading days. Since being acquired earlier this year by Edison EV (now Smart Solutions), the company's value has shown significant volatility.

On the morning of the 5th, Innosis started trading at 1,830 KRW, down 0.54% from the previous trading day, and the decline widened. This marks 17 consecutive trading days of decline since the 10th of last month.

Innosis, established in 1997, manufactures orthopedic medical devices such as spinal fixation devices and fracture treatment devices. Recently, the company has commercialized biodegradable implants and is promoting sales domestically and internationally. According to the company's semi-annual report, the largest shareholder changed to Smart Solutions in March this year.

Smart Solutions is a company that changed its name from Edison EV after SemiSisco, acquired by Edison Motors?which participated in last year's SsangYong Motor acquisition bid?renamed itself. This year, Edison EV acquired management rights of Innosis through a paid-in capital increase, then changed its name from U&I to Edison Inno, and again renamed to Innosis in June.

During this period, the stock price fluctuated dramatically. After Edison EV, which acquired Innosis, was selected as the preferred negotiator in last year's SsangYong Motor acquisition, its stock price surged, and this momentum transferred to Innosis, raising its valuation. However, when Edison EV's trading was suspended in April this year due to a disclaimer of opinion from auditors, the stock price also weakened.

There was a brief turnaround. Last month, the company conducted a 4-for-1 stock split through a bonus issue, and the new shares listed on the 5th of last month led to a two-day limit-up due to the 'ex-rights effect.' However, the stock price has continued to retreat since then. Compared to last month's surge, the price has dropped nearly 60%.

Edison EV, which had recorded losses for four consecutive years, posted a profit in the second quarter of last year after the management change, but ultimately recorded a loss for the full year and received a disclaimer of opinion from auditors.