TSI Massive Contract Value Reduction and Early Termination Amendment, Profit Outlook Deteriorated

The previously disclosed single sale and supply contract for secondary battery mixing systems worth 32.1 billion KRW was amended to approximately 5.6 billion KRW and contractually terminated early.
This amendment results from the counterparty LG Energy Solution Michigan Inc. changing its business plan, leading to the replacement of the original purchase order with a new one.
The contract amount decrease of 26.5 billion KRW equivalent to 43.8% of market capitalization severely damages earnings expectations but causes no capital structure changes and maintains high credibility counterparty relations.
[AI Summary]TSI's 32.1 billion KRW supply contract collapsed to 5.6 billion KRW an 82.6% reduction effectively nullifying the deal with negative implications for revenue and profitability. While the relationship with LG Energy Solution continues this is a major negative for investor sentiment.