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Kumyang Headquarters. (Photo Courtesy of Kumyang) |
[Alpha Biz= Kim Sangjin] As of 10:26 a.m. on Thursday, Kumyang's stock is trading at 18,860 KRW, down 2,340 KRW (11.04%) from the previous day, according to the Korea Exchange. Earlier in the session, the stock fell to 18,450 KRW, marking a new 52-week low.
The decline follows Kumyang's announcement on October 30, stating that the completion of its "Dongbusan E-PARK Industrial Complex Battery Plant" would be delayed. The investment period has been extended from October 31 to May 31 of next year.
The plant, which is set to produce 4695 and 21700 cylindrical batteries in mass quantities, held its groundbreaking ceremony in September.
On October 31, Kumyang also revised the investment period for its Gijang battery plant due to delays in facility installation, extending the completion date from October 31 to July 30, 2025.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
