[Asia Economy Reporter Jang Hyowon] Choi Youngwook, CEO of Audin Futures, stated on the 6th, “I honestly admit that in recent months, the company’s stock price has experienced extreme fluctuations, causing shareholders to voice concerns about the company’s existence and future growth,” and added, “I would like to take this opportunity to sincerely apologize to all shareholders.”
CEO Choi emphasized, “The cosmetics industry has generally been in a slump over the past few years, and Audin Futures has also faced difficulties, but we have now passed through a long dark tunnel,” and “Starting this year, we will achieve profitable management through strengthening internal operations.”
According to company officials, the company recently carried out some restructuring across marketing, sales, and production internally. In order to achieve the goal of profitable management this year, efforts to reduce costs across all departments are being promoted, and the company is also focusing on expanding sales through new products and new market development.
A company representative said, “We reflect on the criticism that we have been indifferent to shareholders’ complaints so far, and we are considering various plans to become a more shareholder-friendly company,” and added, “Efforts to secure funds to establish a stable growth foundation for the company are ongoing, and we will actively respond to some shareholders’ injunction lawsuits.”
Meanwhile, Audin Futures is paying attention to the trend in the cosmetics market expanding from topical products to edible cosmetics, and is reviewing various measures to enter the edible cosmetics market as part of its future growth strategy. The company is currently in research and development discussions with a company that has recently developed innovative bio-ingredients independently, and plans to announce visible results soon.
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