Extension of Collateral Deadline for Subsidiary Debt Increases Risk
- Collateral period extended from April 30, 2026 to June 30, 2026 (correction)
- Collateral: subsidiary Shidai Sikang's loan from CATL of approx. KRW 59.7 billion (CNY 284 million) secured by 49% and 15% stakes in subsidiaries
- Subsidiary's weak financials: 2024 net loss of KRW 33 billion, debt KRW 180 billion > equity KRW 118.5 billion
- Collateral amount equals 12.8% of equity (KRW 466.8 billion), a significant burden
- Condition to resolve CATL's existing guarantee (KRW 95.4 billion) extended to end-June; penalty risk if unresolved
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KOSDAQ Filing Information
- Filing: [Correction of Description] Decision on Provision of Collateral to Others
- Company: Enchem (348370)
- Submission: Enchem Co., Ltd.
- Receipt: 04-30-2026
- Under KRX KOSDAQ Market Division