[Featured Stock] Kolon Mobility Group Nears Nasdaq Listing with Over 20% Surge...

Lotus Subsidiary of Client Company to Begin Nasdaq Trading from 23rd
Only Official Lotus Importer in Korea
Marketing Activities Including Gangnam Showroom and Busan Pop-up Store...

Kolon Mobility Group is showing strong performance. Its client, Lotus' subsidiary, is experiencing a rise of over 20% ahead of its Nasdaq trading debut.

As of 10:50 AM on the 23rd, Kolon Mobility Group is trading at 4,170 KRW, up 20.17% (700 KRW) from the previous day. The stock, which opened at 3,630 KRW, has been steadily rising since the early trading hours. This is the first time since the 1st that Kolon Mobility Group's stock price has surpassed 4,000 KRW.

Lotus Technologies, the electric vehicle division subsidiary of Lotus, a client of Kolon Mobility Group, is scheduled to begin trading on the Nasdaq in the United States on the 23rd (local time). Lotus Technologies will debut on Nasdaq after completing the merger approval with L Catterton Asia Acquisition Company, a private equity fund affiliated with LVMH. The merged entity will be named Lotus Technology. To commemorate the Nasdaq listing, the opening bell will ring in New York on the 23rd.

Kolon Mobility Group established an official partnership with Lotus in May last year and founded Lotus Automobile Korea. It is the only official importer of Lotus in South Korea. In November last year, Lotus Automobile Korea opened a Lotus showroom in Gangnam, Seoul. Since the 21st, it has been holding a pop-up exhibition in Busan and is actively promoting the changes in the Lotus brand.

Meanwhile, Kolon Mobility Group, launched in January last year, recorded sales of 2.403 trillion KRW and an operating profit of 45 billion KRW in 2023. New car sales totaled 27,584 units, and certified used car sales reached 3,923 units. New car sales increased by 2.6% compared to the previous year. The company explained that the increase in sales volume was due to the BMW 5 Series effect and the record-high sales performance of Kolon Automotive, the Volvo car dealer. Additionally, sales of premium audio systems achieved record-high revenue.