On the 16th, WeMade corrected its earnings by excluding the profits from the sale of the virtual currency ‘Wemix’ from the company’s sales.
According to the electronic disclosure system of the Financial Supervisory Service, WeMade changed its annual sales of 560.7 billion won and operating profit of 325.8 billion won to 337.3 billion won and operating profit of 100.9 billion won last year. This is a decrease of 223.4 billion won and 224.9 billion won, respectively. Wemade explained, “After the first disclosure on the 9th of last month, the accounting method for Wemix securitization has been changed during the external audit process, and this is reflected in the financial statements.” Accordingly, sales and operating profit in the fourth quarter of last year also decreased from 352.4 billion won and 129 billion won to 254 billion won in sales and 29.1 billion won in operating profit.
WeMade announced on the 9th of last month that it recorded the best performance since its foundation in the 2021 annual earnings announcement. However, excluding sales and profits from selling virtual currency, this was below market expectations, so the stock price fell. The stock price of Wemade, which was 149,900 won at the time of closing, fell 36.7% to 94,900 won on the same day.