1. What Happened to NPX?

NPX reported ₩1.5 billion in revenue but also a staggering ₩3.8 billion operating loss and a ₩3.6 billion net loss in its 2025 half-year report. These figures significantly deviated from market expectations and, coupled with the KOSDAQ Market Committee’s delisting decision on July 25, 2025, have dealt a severe blow to investors.

2. Why These Disappointing Results?

NPX’s struggles stem from a combination of factors. While the BBT business segment shows steady growth, the underperformance and planned sale of the new business segment, rapid deterioration of financial health, and high allowance for doubtful accounts on receivables have exacerbated the company’s difficulties. The delisting decision, in particular, poses a serious threat to the company’s very existence.

3. What Should Investors Do?

Investing in NPX at this juncture is extremely risky. If delisting occurs, investors could lose their entire principal. Even if delisting is avoided, the company’s deteriorating fundamentals suggest that share price recovery will be very limited.

4. Investor Action Plan

  • Halt NPX Investments Immediately: New investments should be avoided entirely.
  • Existing Investors: Consider selling shares promptly, even if it means accepting losses.
  • Future Monitoring: Closely monitor legal proceedings related to delisting, BBT business performance, the progress of new business sales, and upcoming financial reports.