[Kim Jin Soo, Edaily Reporter] Portable X-ray manufacturer Remedi saw its stock price surge after reporting explosive earnings growth. The company is expanding rapidly not only in South Korea but also overseas, raising expectations for continued growth.

Bio Solution also saw its stock rise on expectations surrounding its entry into China, one of the world’s largest markets for osteoarthritis treatments. In contrast, Syntekabio’s stock fell sharply after its auditor issued a disclaimer of opinion.

Remedi Shares Rise on Strong Earnings

According to KG Zeroin’s MP Doctor (formerly MarketPoint), Remedi shares closed at 13,590 won, up 22.76% from the previous session. The rally was attributed to stronger-than-expected earnings.

Remedi posted consolidated revenue of 15.5 billion won ($11 million) and operating profit of 6.1 billion won in the first half of this year. First-half revenue alone surpassed the company’s full-year 2025 revenue forecast of approximately 14.6 billion won, while operating profit was more than double last year’s annual operating profit of 2.8 billion won.

Remedi develops and commercializes X-ray systems based on proprietary technology that enables low radiation doses, high image quality, and compact devices. Most of its sales come from its flagship REMEX-KA6, with overseas expansion driving growth.

The company has been rapidly increasing sales through a distribution network spanning more than 45 countries. Higher sales have also improved fixed-cost efficiency, helping Remedi achieve an operating margin approaching 40%.

Growth has been particularly strong in India. Last year, Remedi supplied portable X-ray systems to India’s National Tuberculosis Elimination Program through the Central Medical Services Society, boosting its earnings. Last month, it was also selected as the sole technically qualified bidder in a procurement tender by the Odisha state government, paving the way for expansion in India’s public procurement market.

Remedi plans to expand beyond India into other developing countries where tuberculosis remains a major public health problem.

“Tuberculosis itself is not necessarily a severe disease, but it can become extremely dangerous if left untreated,” a Remedi official said. “The disease tends to be concentrated in densely populated developing countries. X-ray screening is the only way to detect cases early enough to prevent further spread, and high-burden countries conduct mass screenings. We are therefore accelerating our expansion into those markets.”

Portability and price are key competitive strengths of the REMEX-KA6. The device weighs about 2.5 kilograms—roughly one-hundredth the weight of conventional 250-kilogram X-ray systems. It is also priced at about one-tenth the cost of conventional equipment.

“The REMEX-KA6 is highly portable, giving it a significant advantage in tuberculosis screening,” the official said. “It is also far less expensive than conventional systems, making it an attractive option for customers.”

Remedi is also acquiring a second manufacturing facility and implementing production automation to meet growing global demand. The company expects this additional capacity to support long-term growth.

“Our first-half results demonstrate that our proprietary technology and global distribution network are beginning to translate into tangible results,” the official said.

Bio Solution Gains on China Expansion

Bio Solution shares rose more than 19% during intraday trading before paring gains to close 8.7% higher at 7,250 won. The rally was attributed to expectations surrounding the company’s entry into China, which accounts for a significant portion of the global osteoarthritis treatment market.

According to Fortune Business Insights, China’s osteoarthritis therapeutics market was estimated at about $1 billion in 2025, equivalent to about 1.41 trillion won. That represents roughly 9.6% of the estimated $9.89 billion global market.

Bio Solution has secured a pathway into the Chinese market for its osteoarthritis treatment, CartiLife, through the Hainan Free Trade Port’s special medical zone.

On August 13, the company signed a partnership agreement with Boao International Hospital, located in the Boao Lecheng International Medical Tourism Pilot Zone in Hainan Province, to introduce and administer CartiLife. The hospital treated its first patient in China on August 14.

Boao International Hospital is a tertiary general hospital equipped with inpatient and outpatient facilities, an international regenerative medicine research center, and a VIP rehabilitation and convalescence area, giving it infrastructure comparable to that of a midsize university hospital in South Korea.

Bio Solution’s China business is structured so that technology-fee revenue increases as the number of local CartiLife treatments rises. Earnings could therefore improve rapidly if the company’s China business expands.

The first treatment also marks the beginning of real-world data collection from Chinese patients. Bio Solution plans to continuously monitor treatment progress, safety, and clinical outcomes to systematically build real-world evidence (RWE) in China.

As of July 2, 2026, according to the Hainan Medical Products Administration, 27 drugs and medical devices had utilized RWE generated in Lecheng to support accelerated approval and market entry in China.

“We will strengthen operations across all areas—including local sales and marketing, as well as manufacturing and quality management—so that CartiLife can establish itself as a competitive treatment option in China’s regenerative medicine market and translate into meaningful sales growth,” said a Bio Solution official.

Syntekabio Plummets After Auditor’s Disclaimer

Syntekabio plunged to its daily lower limit shortly after the market opened. The stock later recovered partially and closed at 1,131 won, down 24.45%. The decline followed an auditor’s disclaimer of opinion.

After the market closed on Aug. 14, Syntekabio disclosed that its auditor, KPMG Samjong Accounting Corp., had issued a disclaimer of opinion on the company’s half-year financial report.

The auditor stated that it had been unable to obtain sufficient and appropriate audit evidence regarding the legitimacy of certain lending transactions and the use of the funds.

Syntekabio stated that the disclaimer stemmed from limitations related to audit procedures and supporting documentation. The company plans to work with external specialists to review the reasons for the disclaimer and address the outstanding issues.

It has formed a team of legal and accounting advisors and has begun preparing explanations and supplementary documentation.

Separately, Syntekabio stated that it will continue to pursue data center contracts and its artificial intelligence-based drug discovery platform business as part of its efforts to normalize operations.

“We sincerely apologize for causing concern to shareholders and investors regarding the audit issue,” a Syntekabio official said. “We will resolve the audit-related matters quickly and transparently while doing our utmost to enhance shareholder value and normalize management based on the contracts and business results we have already secured.”