Enchem Disposes Entire 49% Stake in Affiliate for ~49B KRW Cash… Strengthens Liquidity for Business Focus, Expected to Ease Short-Term Financial Burden
Enchem decided to dispose of its entire 49% stake in Chinese secondary battery raw material affiliate 'SHINGHWA AMPEREX CORPORATION' for approximately 49.04B KRW (CNH 226,156,000). This amounts to 10.19% of its equity (approx. 481.1B KRW).
The purpose is 'securing cash liquidity for business concentration', with the funds expected to be reinvested into core business capabilities. This temporary increase in cash holdings may ease short-term financial burdens.
Proceeds to be received in two installments: 1st (May 11, 2026) CNH 100,000,000 (approx. 21.68B KRW), 2nd (June 12, 2026) CNH 126,156,000 (approx. 27.36B KRW). The second payment date was corrected from May 29 to June 12 (within 10 business days after settlement of claims and debts).
After disposal, Enchem's stake in the affiliate becomes 0%, removing it from related party status. This will eliminate future equity-method gains/losses, impacting consolidated financial statements.
[AI Comprehensive Analysis]While this stake sale is positive for short-term liquidity, the outright sale of a 49% stake eliminates future equity-method profit contributions, negatively impacting mid-to-long-term profitability. The specific use of proceeds and reinvestment performance will be key factors for the stock price outlook.
KOSDAQ Filing Information
Filing: [Correction of Description] Decision on Disposal of Stocks and Equity Securities of Other Corporations