[Featured Stock] KG Mobility Hits New Low Again... Direct Hit from Q3 Turn to Loss News

After 4 Months, 5,000 Won Barrier Breaks and Continuous Decline
Q3 Operating Loss Hits 40 Billion Won, Turning to Deficit
Profits Recorded in Q1 and Q2, Deficit After 3 Quarters

KG Mobility has once again hit a 52-week low. This appears to be influenced by the news of a third-quarter turnaround to a loss.

As of 10:26 AM on the 29th, KG Mobility is trading at 4,655 KRW, down 5.29% (260 KRW) from the previous trading day. KG Mobility's stock price broke below the 5,000 KRW mark intraday for the first time in about four months on the 23rd, recording a 52-week low and entering a full-fledged downward rally. Except for a 1.55% rise on the 28th, the stock has shown a 'red candle' for 7 out of the last 8 trading days, including the 29th.

KG Mobility announced its third-quarter earnings immediately after the market closed the previous day. According to the electronic disclosure system, on a consolidated basis, the company posted an operating loss of 40 billion KRW (preliminary) in the third quarter of this year, turning from an operating profit of 14.2 billion KRW in the same period last year. After recording profits for two consecutive quarters, KG Mobility returned to a loss after three quarters. Third-quarter sales were preliminarily estimated at 899.1 billion KRW, a 0.62% decrease compared to the same period last year. Net loss also reached 52 billion KRW.

Exports dragged down performance. Third-quarter sales volume for KG Mobility totaled 24,018 units, down 23% from the same period last year. Domestic sales increased by 6%, but exports fell by 41%. Meanwhile, KG Mobility also disclosed the absorption merger of KG S&C. The purpose of the merger is to 'improve governance and enhance management efficiency through the integration of management organizations.' KG S&C is a company specializing in special vehicle development and engineering services.