Ameridge Resumes Stock Trading After 2 Years and 6 Months

[Asia Economy Reporter Lee Jung-yoon] Trading of Ameridge's stock will resume from the 26th.

According to Ameridge and others on that day, the trading of Ameridge's stock, which received a listing maintenance decision at the Corporate Review Committee held on the 23rd, will resume after being suspended since March 2020 for 2 years and 6 months.

According to Ameridge's business report, it recorded approximately 81.7 billion KRW in sales and about 1.5 billion KRW in operating profit on a consolidated basis last year. In particular, net profit turned positive compared to the previous year. The debt ratio decreased from 1009% in 2019 to 35% last year, and during the same period, the current ratio increased from 46% to 168%, indicating an overall improvement in performance, which is known to have contributed positively to the Corporate Review Committee's decision to maintain the listing.

During the improvement period, Ameridge completely withdrew from the tire business and completed restructuring such as shifting its business to women's clothing retail and reducing its 15 affiliates to 4. Additionally, Ameridge became the first domestic listed company to start a cannabis business. In the National Assembly, legislation to legalize medical cannabis was proposed, and the purchase of medical cannabis by patients with rare incurable diseases was approved for the first time in Korea. Furthermore, a national project on cannabis research was underway.