Positive Business Transformation, Achieving Annual Operating Profit Target
“In the Era of AI Powerhouse, Establishing a Competitive Data and AI Virtuous Cycle”, Lee Jeong-soo, CEO of Flitto (Photo provided by Flitto) *Resale and DB Prohibited,
, ‘[Seoul=Newsis] Reporter Oh Dong-hyun = AI language data specialist company Flitto announced on the 10th through a disclosure that it has decided on a 200% free capital increase, allocating 2 new shares per common share.’,
, ‘With this free capital increase, Flitto’s total number of issued shares will be 16,505,451, with the record date for the new shares set for June 25 and the expected listing date being July 18.’,
, ‘Flitto stated, “Since the significant improvement in performance last year, we have been considering a free capital increase to enhance shareholder value. Though this issue may drive short-term stock price increase, Flitto has been contemplating the appropriate timing and methodology for maximizing shareholder value in the long term. Therefore, after completing structural improvements, such as achieving operating profit for three consecutive quarters, we decided on the free capital increase.”‘,
, ‘They added, “Although Flitto had established global competitiveness and maintained consistent profitability quarterly, the low number of circulating shares led to high stock price volatility, preventing proper valuation of our worth. Through this free increase excluding the shares held by the major shareholders, about 10 million shares will circulate in the market, potentially encouraging active trading.”‘,
, ‘Yoon Min-yong, Flitto’s Chief Financial Officer (CFO), said, “The increase in trading volume can promote the previously suppressed stock price, and we plan to continuously maintain our operating profit and financial health.”‘,
, ‘Last month, Flitto worked to enhance shareholder value by eliminating factors diluting stock value, such as disposing of treasury stocks and canceling their bonds. This strategic emphasis is on the free capital increase, and Flitto seeks to strengthen its corporate fundamentals to increase long-term corporate value, aiming to achieve annual operating profit amidst increasing demand in the global big tech market.’,
, ‘In March of this year, Flitto already secured data sales contracts exceeding 65% of last year’s revenue. They are also proceeding with contracts with new global big tech companies for the supply of speech and image data generated through the Flitto platform.’,
, ‘In addition to the core business of language data sales, Flitto is strategically expanding its revenue in the AI solutions sector. From last year to this year, they have launched AI-based translation solutions such as Chat Translation, Live Translation, and Image Translation.’,
, ‘Through these initiatives, they are building quantitatively and qualitatively superior references, supplying to major events organized by global big tech companies like Amazon and Google, financial institutions like Hana Bank, IBK, and Kwangju Bank, and key players in the distribution, tourism, and leisure industries.’,
, ‘Moreover, in response to increased sales and solution demand in the US market, Flitto is preparing for a full-scale entry into the US.’,
, ‘Flitto is determined to achieve the simultaneous growth of its two business segments—language data sales both domestically and internationally and AI solutions—by investing all its capabilities to achieve record-breaking sales and annual operating profit this year.’,
, ‘Lee Jeong-soo, CEO of Flitto, expressed, “In the era of AI powerhouses, Flitto’s technology, which has established a virtuous cycle of data and AI, will receive more attention” and declared, “At the same time, I aim to make Flitto the best-exported company among Korean AI-listed companies.”‘,
, ‘Furthermore, CEO Lee added, “With additional large-scale data supply contracts and annual operating profit expected in the second half of this year, we will pour more effort into enhancing shareholder value.”‘,
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