SAMG Entertainment CEO Kim Suhoon Purchases 17,008 Shares of Company Stock... 'Responsible Management'

Kim Su-hoon, CEO of SAMG Entertainment (CEO Kim Su-hoon, hereinafter SAMG Entertainment), announced on the 27th that he purchased 17,008 shares of the company's stock on the open market. The purchase amount is approximately 160 million KRW.

CEO Kim Su-hoon stated, "I directly purchased shares to enhance shareholder value and corporate value amid the stock price decline," and added, "I will repay everyone who believed in and waited for the company's growth with responsible management."

SAMG Entertainment, which holds the intellectual property (IP) rights for 'Catch! Teenieping,' recorded consolidated sales of 25.3 billion KRW in the first quarter of this year, representing about 20% growth compared to the same period last year. However, it faced difficulties in stock price recovery due to inventory asset valuation losses in some business sectors and additional costs related to business expansion, resulting in an operating loss of approximately 5.9 billion KRW.

On the other hand, SAMG Entertainment's scale has maintained growth every year. Sales were about 38.3 billion KRW in 2021, about 68.3 billion KRW in 2022, and about 95.1 billion KRW last year, achieving approximately 40% high growth annually. Additionally, by securing sales of about 8.3 billion KRW from its Guangzhou, China branch last year, the company confirmed the global hit potential of its major IPs.

A SAMG Entertainment official said, "Currently, the company is focusing on improving profitability through the swift disposal of non-performing inventory, margin rate increases due to changes in the distribution structure, and bold restructuring of underperforming business sectors," adding, "Along with this, we will focus on achieving a turnaround to profitability within the year through steady external growth by expanding sales based on new IPs, including a movie release in the second half of the year, and expanding sales in global markets such as China."