Ko Yo Chemical (Group) Ltd. has provided an update regarding its business operations and financial measures for the year ended 31 December 2024. The company reported that its Dazhou plant completed the shipment of its entire export quota of 12,000 tons of urea in the fourth quarter, resulting in an increase in revenue of approximately RMB11.5 million. The Group has also optimized its sales model, increasing the number of direct sales customers by 14 compared to the end of the previous year. In terms of project developments, the DMF (N,N-Dimethylformamide) and NMP (N-Methylpyrrolidone) projects at the Guang'an Ko Yo Electronic Materials Factory are continuing with overall production optimization. The propylene oxide project at the Jiangsu Blue Planet factory is currently in the procedure handling and preparation for trial production stage. The company is negotiating the renewal or restructuring of approximately RMB231 million in bank loans, with the aim of establishing a repayment schedule of three to five years. Ko Yo Chemical stated that it will provide further announcements regarding its going concern status and mitigation measures as appropriate.

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