**The 8th Regular General Meeting of Shareholders Held: Plans for Operation of Indian Factory and Local Production Explained**
On the 25th, Lotte Wellfood held its 8th regular general meeting of shareholders at its headquarters in Yeongdeungpo-gu, Seoul. CEO Chang-yeop Lee spoke at the event, which had an attendance rate of 85.1% of the total voting shares, including proxy and electronic voting.
CEO Chang-yeop Lee remarked on the challenges faced last year due to increased burdens from major raw materials like cacao and prolonged economic downturns. He expressed the company’s intention to grow further through challenging activities such as launching new brands and expanding globally.
For this year’s business direction, Lee announced plans to strengthen the Lotte brand in the global market. Specifically, he detailed that the newly completed Pune factory in India, which began operations in February, will expand ice cream production. Additionally, preparations are being made for local production of the Pepero brand at the Haryana factory to expand the presence of the Lotte brand within India.
In the previous year, Lotte Wellfood recorded consolidated sales of 4.0443 trillion won and an operating profit of 157.1 billion won, marking decreases of 0.5% and 11.3%, respectively, compared to 2023.
During the shareholders’ meeting, original agenda items such as the approval of financial statements, including the balance sheet and income statement, and the election of directors, were approved as proposed.
Kim Do-sik and Son Eun-kyung were newly appointed as outside directors, and a resolution was passed for the retirement of 130,000 treasury shares through a capital reduction to enhance shareholder value.
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