CI Tech "Never Considered Entering Electric Vehicle Parts Business"

CI Tech, a company specializing in digital kiosks and hi-fi audio, has once again firmly stated that it has "never considered entering the electric vehicle parts business nor invested in related ventures."

On the 27th, Kim Daeyoung, CEO of CI Tech, announced, "There have been some baseless reports claiming that our company is a beneficiary of the electric vehicle business or that we are producing or planning to produce electric vehicle parts. As inquiries from shareholders and customers continue, we are organizing and sharing the company's official position once again."

CEO Kim said, "It appears that some media outlets provided incorrect information to create news. Since the content of these articles is not true regardless of the intent, we urge shareholders and customers not to be misled."

Regarding this matter, Kim added, "Unsubstantiated rumors related to electric vehicles not only disrupt the company's normal business activities but also seriously damage shareholder value. The fact that these rumors are groundless can be easily confirmed by looking at the company's business objectives."

He continued, "We sincerely apologize for the criticism that the company has been passive in Investor Relations (IR). We will always keep active IR in mind in our management and will strongly respond to any false reports or rumors."

Kim also stated, "We ask that efforts to tarnish or shake the current management cease, and that the company's normal business activities be supported. Ultimately, our executives and employees will redouble their efforts to ensure that shareholders do not suffer any harm."

He emphasized, "Our high-quality audio device, the hi-fi audio 'rose,' has expanded into 43 countries worldwide within three years of its launch. Last year, it achieved sales of 11.3 billion KRW, showing a remarkable growth rate of 157% compared to the previous year. As the company's business environment gradually improves, we ask shareholders to watch over the company's management activities with affection."