Subsidiary KC Cottrel's Vietnam Thermal Power Project Contract Amount Increased by 4.77 Billion Won and 2024 Re-audit Improves Sales Base, Strong Positive Signal for Shareholder Value
KC Green Holdings' subsidiary KC Cottrel submitted an amendment disclosure increasing the contract amount for the ESP and FGD works at the Long Phu 1 thermal power plant in Vietnam from 69.96 billion won to 74.73 billion won, an increase of about 4.77 billion won.
The amendment also updates the recent sales base from 2023 to the 2024 consolidated financial statements which were re-audited, improving the contract-to-sales ratio from 16.02% to 21.92%. The completion of the re-audit restores financial statement reliability.
The contract size is approximately 42.5% of the current market cap of about 175.6 billion won, a massive order that is a major positive for corporate value. The contract end date is undetermined and may vary with project progress.
The company does not involve any separate financing or equity dilution for this contract, thus no direct loss to existing shareholders.
[AI Summary]The increase in the large-scale overseas plant contract for subsidiary KC Cottrel and the completion of the 2024 re-audit demonstrate both financial soundness and order competitiveness, expected to have a strong positive impact on the stock price. The contract size significantly exceeds market cap, raising expectations for earnings improvement.
KOSPI Filing Information
Filing: [Correction of Description] Conclusion of Single Sales and Supply Contract (Major Management Matters of Subsidiary)