Intellego Technologies AB (publ) ("Intellego" or "the Company) addresses recent speculation and reiterates its strong financial position, strategic partnerships with e.g. LiKang, and commitment to transparent communication with the capital market.
Strong financial position and sound governance
Intellego maintains a strong financial position, with solid cash reserves, record growth, and healthy margins. Growth during the third quarter has developed very satisfactorily.
Intellego strictly adheres to Swedish legislation, good corporate governance, and applies IFRS accounting standards. The team responsible for Intellego's ongoing accounting includes authorized accounting consultants with solid professional backgrounds, including auditing experience from major international audit firms. Intellego's accounting has been free from any major errors for the past several years and has been audited by multiple independent auditors over the past five years. The Company's current annual accounts are audited by Deloitte and the 2024 financial statements were approved without remarks.
The Company has also been granted credit facilities by one of Sweden's major banks following a rigorous, year-long financial review, including an in-depth due diligence of the Company's receivables.
On recent media reporting
Considering recent unfounded speculation and misleading statements circulating in media and on social platforms, Intellego has received many questions from engaged shareholders. The Board of Directors considers it its responsibility to address these claims, as several are factually incorrect and appear to originate from unidentified parties with clear economic interests in discrediting the Company and influencing its share price.
The Board wishes to emphasize that such actions may constitute market manipulation, which is a serious offense and undermines confidence in the Swedish capital market. The Board also finds it deeply concerning that parts of the Swedish media have chosen to uncritically republish information originating from these reports without verification and without seeking comment from the Company. By doing so, the media has indirectly aided not only short sellers but also those who may be seeking to manipulate the market in their attempts to push down Intellego's share price, something the Company views very seriously.
Strategic partnerships and continued growth
The agreement with LiKang for the Chinese market, which was previously communicated, is proceeding well and the agreement has been reviewed and approved by Nasdaq without any objections. Intellego's chairman, Greg Batcheller, reports:
"My meeting with LiKang's Chairman, Mr Zhuang Zhong, in Nanjing last Friday confirms that Intellego's products are currently being marketed and are in use with several larger hospitals in China while LiKang continues to prepare the broader market launch to coincide with new Chinese disinfection regulations which are expected to come into force in 2026 and to require the use of products such as Intellego's. LiKang is actively following the regulatory process and preparing the market. We reaffirmed our mutual commitment to our collaboration and our belief in its full potential".
The partnerships with Henkel and Likang are progressing according to plan and the Company anticipates being able to communicate significant progress in both collaborations during the autumn.
Scaling a world leading technology
Intellego's products have undergone testing in accordance with the highest international standards and are considered world-leading in their segment. This is reflected in the continued strong trust from customers worldwide.
The Company has experienced rapid growth in recent years. The Board is actively working to strengthen the organization by recruiting key personnel to support the CEO and further developing the Company as it moves toward a future listing on the main market.
Focus on transparency and communication
Intellego always welcomes objective scrutiny that highlights both strengths and areas for improvement. At the same time, the Board recognizes the need to further strengthen the Company's communication with the capital market and this is now a top priority. Improvements will begin to be visible already in connection with the publication of the Q3 interim report.
Finally, the Board wishes to express its sincere gratitude to Intellego's many engaged shareholders for their continued trust and support. The Company's focus remains firmly on creating long-term value through continued innovation, growth, and profitability.
Contact
For further information, please contact:
Claes Lindahl, CEO Intellego Technologies AB
E-mail: claes.lindahl@intellego-technologies.com
Phone: +46 735 344 634
About Us
Intellego Technologies develops and manufactures color indicators that show the effect of irradiation with, among other things, invisible ultraviolet light, UV light. Color indicators are used globally in, for example, the disinfection industry, the sunscreen industry, and the manufacturing industry. Intellego's indicators have been developed from the company's patented photochromic ink, which can be adapted to different wavelengths of light and various application areas across a range of different industries. Intellego Technologies was founded in 2011, is headquartered in Stockholm, and is listed on the Nasdaq First North Growth Market.
The company's Certified Adviser on the Nasdaq First North Growth Market Stockholm is Mangold Fondkommission AB.
Intellego's website: https://intellego-technologies.com/en/
Subscribe to Intellego's press releases: https://intellego-technologies.com/sv/pressmeddelanden/
Contact the communications team: communications@intellego-technologies.com
