Zaram Technology Revises ASIC Supply Contract with Nokia Downward by 5.9% Due to Delayed Payment, Highlighting Collection Risk

Zaram Technology filed a correction to its ASIC design and supply contract with Nokia Bell N.V., reducing the total contract value from KRW 16,500,724,300 to KRW 15,527,788,300, a decrease of KRW 972,936,000 or approximately 5.9%.
The revision is due to delayed receipt of the final payment. As of now, the development progress stands at 98.05%, but payment collection is only at 69.45%, indicating realized collection risk.
The contract represents 96.3% of Zaram's 2022 revenue, making it a significant revenue source despite the downward adjustment. The remaining balance is expected to be fully collected by June 30, 2026.
[AI Summary]This amendment highlights that delayed collection on a major international contract has resulted in actual revenue reduction. While Nokia is a highly credible global counterparty, the payment delay may pressure short-term cash flow and revenue recognition. There is no dilution impact on existing shareholders as no equity issuance is involved.