Bonn's stock has dropped over 15% following a delay in the submission of its half-year report due to external investigations and forensic procedures by external auditors.
As of 1:20 PM on August 18, Bonn's shares were trading at 6,260 won, down 1,190 won (15.97%) from the previous trading day. The stock opened at 6,500 won and briefly rose to 7,140 won during the day before reversing gains and entering a downward trend.
The sharp decline is attributed to Bonn's announcement of the delay in its half-year report submission.
According to the Financial Supervisory Service's electronic disclosure system, Bonn explained that the delay was due to the need for the external auditor to complete its forensic procedures related to internal reports concerning company employees. This completion is necessary for management to fully assess any additional impacts on the financial statements.
Under Article 160 of the Capital Markets and Financial Investment Business Act, all publicly listed companies are required to submit their half-year reports to the Financial Services Commission and the exchange within 45 days after the end of the reporting period. Bonn failed to meet the deadline, which was on August 14 this year.
Bonn plans to submit its half-year report as soon as the external investigation and auditor's review procedures are completed. The company stated, "We will promptly disclose the half-year report and review report reflecting the auditor's opinion as soon as the ongoing external investigation and auditor's review procedures are completed at the request of our auditor."
* This article has been translated by AI.
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