1. What Happened with NKMax?
On August 12, 2025, NKMax received a ‘qualified’ audit opinion, resolving the formal reason for delisting. However, due to capital impairment and other issues, a substantive review will proceed, and trading remains suspended.
2. Weighing the Positives and Negatives
Positive Factors:
- Qualified Audit Opinion: Restores confidence in financial reporting
- Positive Progress in Rehabilitation Proceedings: Increases the likelihood of survival
- Resolution of Formal Delisting Reason: Offers hope for trading resumption
Negative Factors:
- Additional Reasons for Substantive Review and Continued Trading Suspension: Delisting uncertainty remains
- Continued Capital Impairment: Concerns about financial soundness
- Operating Losses and Decline in Sales: Urgent need for profitability improvement
- Weaknesses in Internal Accounting Controls: Questions about management transparency
3. What Should Investors Do?
Investing in NKMax currently carries very high risk. Investors should closely monitor the results of the substantive review and the company’s efforts to improve its financial structure. ‘Sell’ or ‘Hold’ is recommended. Hasty investments could lead to significant losses.
4. Key Points to Watch
Investors should continuously monitor the following:
- Results of the substantive review
- Improvements in financial structure and profitability
- Tangible results from new businesses
- Strengthening of internal control systems