1. What Happened?: Injunction Filed Against Voting Rights

On September 24, 2025, Manho Steel received an injunction application from MK Asset. This lawsuit aims to block the exercise of voting rights for specific shares at the shareholder meeting on September 26th, marking the beginning of a management power struggle.

2. Why is This Happening?: The Background of the Dispute

While the exact background remains unclear, it may be linked to the qualified audit opinion received for the 71st fiscal year and key audit matters (revenue recognition, inventory valuation, etc.). This raises concerns about Manho Steel’s financial transparency.

3. What’s Next?: Analyzing Short-Term and Long-Term Impacts

  • Short-Term Impacts: Downward pressure on stock price, increased uncertainty surrounding shareholder meeting outcomes, potential increase in trading volume.
  • Long-Term Impacts: Damage to management stability, highlighted financial transparency issues, increased volatility in corporate value.

Despite recent improvements in fundamentals, a prolonged management dispute could negatively impact the company’s value.

4. What Should Investors Do?: Key Checkpoints

  • Monitor the outcome of the injunction and Manho Steel’s response.
  • Observe the shareholder meeting results and any subsequent changes in management strategy.
  • Verify continued efforts to ensure financial transparency.

A thorough analysis of the evolving situation is crucial before making any investment decisions.