[eGongsi Notice] KEPCO Reports 3Q Operating Loss of 7.53 Trillion Won... Cumulative 21 Trillion Won This Year (Comprehensive)

[Image source=Yonhap News]

[Asia Economy Reporter Myung-hwan Lee] Korea Electric Power Corporation (KEPCO) announced on the 11th that its consolidated operating loss for the third quarter of this year was preliminarily estimated at 7.53 trillion KRW, a 704.0% increase compared to the same period last year. The cumulative operating loss for the first to third quarters of this year reached 21.83 trillion KRW.

KEPCO's third-quarter sales increased by 20.1% year-on-year to 19.7729 trillion KRW, and net loss for the period rose by 473.6% to 5.88 trillion KRW.

The following are major disclosures released this afternoon, including KEPCO's announcement.

▲ BK Tops = Designated as a non-compliant disclosure corporation due to failure to comply with the Korea Exchange's request for inquiry disclosure by the KOSPI Market Division.

▲ Mirae Asset Life Insurance = Consolidated operating profit for the third quarter preliminarily estimated at 60.668 billion KRW, a 224.56% increase compared to the same period last year. Sales for the same period rose 13.43% to 1.0842 trillion KRW.

▲ Kwangdong Pharmaceutical = Consolidated operating profit for the third quarter preliminarily estimated at 7.734 billion KRW, a 48.1% decrease compared to the same period last year. Sales increased by 7.8% to 377.647 billion KRW.

▲ Korean Reinsurance (Korean Re) = Operating profit for the third quarter preliminarily estimated at 61.949 billion KRW, a 6.4% decrease year-on-year. Sales increased by 6.6% to 2.3566 trillion KRW.

▲ STX Heavy Industries = Regarding reports on the sale of controlling shares, the company disclosed that "after confirming with the largest shareholder, it was answered that Samjeong Accounting Corporation was selected as the lead manager for the sale as of November 11." The company explained, "Various strategic options including the sale of shares are being reviewed, but nothing has been specifically decided or finalized."

▲ Cellmat Therapeutics = Following a third-party allotment capital increase, AirQ Holdings has become a largest shareholder alongside the existing largest shareholder H-Report. Both companies hold the same number of shares.

▲ KEPCO KPS = Consolidated operating profit for the third quarter preliminarily estimated at 31.151 billion KRW, a 1.9% increase compared to the same period last year. Sales rose 9.8% to 341.932 billion KRW.

▲ Kolon Global = Signed a contract to receive an order worth 70.946 billion KRW for the Busan Daeyeon 2 street housing maintenance project.

▲ G2R = Consolidated operating profit for the third quarter preliminarily estimated at 3.066 billion KRW, a 56.17% decrease year-on-year. Sales increased by 7.13% to 112.816 billion KRW, while net profit decreased by 47.83% to 2.645 billion KRW.

▲ KG ETS = Subsidiary Ssangyong Motor has completed repayment of most rehabilitation secured claims and rehabilitation bonds amounting to approximately 351.7 billion KRW under the rehabilitation plan, leading to the conclusion of the rehabilitation process.

▲ Neofect = In response to the Korea Exchange KOSDAQ Market Division's inquiry disclosure request due to significant market fluctuations, the company disclosed that "various asset sales, issuance of equity securities or general corporate bonds (private placement), and financial borrowings are being considered to improve financial structure." The company explained, "As of the inquiry disclosure response date, nothing has been specifically finalized, and a re-disclosure will be made within one month or when specific matters are confirmed."

▲ Devsisters = Consolidated operating loss for the third quarter preliminarily estimated at 3.814 billion KRW, turning to a deficit compared to the same period last year.

▲ Philoptics = Decision to cancel 164,601 common shares of treasury stock previously acquired. The cancellation amount is expected to be 5.93189 billion KRW.

▲ PCLE = Decided on a third-party allotment capital increase worth 12.22894 billion KRW for the purpose of acquiring securities of other companies. The third-party allotment recipients are four corporations: Olix, Samyang Holdings, Very Good Growth Support Fund, and Kiwoom New Hero No.1 Fund.

▲ Jungang Vaccine = Consolidated operating profit for the third quarter preliminarily estimated at 1.545 billion KRW, a 24% increase year-on-year.

▲ InBody = Consolidated operating profit for the third quarter preliminarily estimated at 7.54 billion KRW, a 4.7% decrease compared to the same period last year.

▲ Seegene = Consolidated operating loss for the third quarter preliminarily estimated at 32.245 billion KRW, turning to a deficit compared to the same period last year.