Line 4 Train Supply Contract Amount Sharply Reduced from 279.3B to 215.1B KRW… Reflecting Completed Payments, with 14.5B KRW in Remaining Receivables
DAWONSYS revised its supply contract for Line 4 new trains (210 cars) with Seoul Metro from 279.3B KRW to 215.1B KRW, reflecting actual payments received and settled by the contract maturity date.
Contract fulfillment rate stands at 99.8% based on completed delivery, with all 21 train sets delivered and inspected. However, there remain 14.5B KRW in outstanding receivables and 553M KRW in undelivered items, the latter subject to future actions by the counterparty.
The revised contract amount corresponds to 122.88% of 2019 revenue (175.0B KRW). The reduction of approximately 64.1B KRW from the original contract will directly impact the company's realized revenue.
The counterparty is Seoul Metro, a highly creditworthy public institution, but the 14.5B KRW in receivables is in delayed payment status, posing a collection risk.
[AI Comprehensive Analysis]This disclosure reflects the conclusion and settlement of a large contract. While the downward revision is negative, most deliveries have been completed, making it largely a one-time event. The recovery of remaining receivables and new order prospects will be key variables for future stock performance.
KOSDAQ Filing Information
Filing: [Correction of Description] Conclusion of Single Sale and Supply Contract