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Methanex Corporation Completes Acquisition of OCI Global’s Methanol Business
Globenewswire· 2025-06-27 14:36
Core Points - Methanex Corporation has completed the acquisition of OCI Global's international methanol business, which was first announced in September 2024 [1][2] - The acquisition includes two world-scale methanol facilities in Beaumont, Texas, a low-carbon methanol production and marketing business, and an idled methanol facility in the Netherlands [2] - The total transaction consideration is approximately $1.2 billion in cash, the issuance of about 9.9 million common shares, and the assumption of around $450 million in debt and leases [2] Company Overview - Methanex is the world's largest producer and supplier of methanol, based in Vancouver, Canada, and is publicly traded on the Toronto Stock Exchange and Nasdaq [4] - The company aims to ensure a smooth integration of the acquired business, maintain safe operations, and deliver strategic benefits from the acquisition [3]
Methanex Corporation Receives Regulatory Approval for the Acquisition of OCI Global’s Methanol Business
Globenewswire· 2025-06-12 12:00
Core Viewpoint - Methanex Corporation has received all necessary regulatory approvals to proceed with the acquisition of OCI Global's international methanol business, with the transaction expected to close on June 27, 2025 [1][2]. Group 1: Acquisition Details - The regulatory review period under the U.S. Hart-Scott-Rodino Antitrust Act has lapsed, allowing Methanex to finalize the acquisition [1]. - The acquisition is anticipated to close on June 27, 2025, pending customary closing conditions [1]. - Methanex's President and CEO, Rich Sumner, expressed optimism about the integration planning and the strategic benefits expected from the acquisition [2]. Group 2: Company Overview - Methanex is the world's largest producer and supplier of methanol, headquartered in Vancouver, Canada [2]. - The company's shares are traded on the Toronto Stock Exchange under the symbol "MX" and on the Nasdaq under "MEOH" [2].
Magnachip Semiconductor Upgraded To Buy
Seeking Alpha· 2025-05-18 14:00
Core Viewpoint - Magnachip Semiconductor Corp (NYSE: MX) was previously rated as a sell opportunity at $5.60 per share, but is now considered a buy at approximately $3.45 per share [1]. Company Summary - The company has seen a significant price drop from the previous rating, indicating a potential turnaround opportunity for investors [1]. - The current stock price of $3.45 suggests a favorable entry point for retail value investors looking to take calculated risks [1]. Analyst Background - The analyst has extensive experience in teaching and consulting, with a background in business and political activism, which may provide valuable insights into market trends [1]. - The analyst co-manages an investment firm and has a history of founding and managing businesses, indicating a strong understanding of the investment landscape [1].
MagnaChip(MX) - 2025 Q1 - Earnings Call Presentation
2025-05-12 22:46
Magnachip Semiconductor (NYSE: MX) Q1 2025 Earnings Materials May 12, 2025 1 Forward-Looking Statements Information in this presentation regarding Magnachip's forecasts, business outlook, expectations and beliefs are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. All forward-looking statements included or incorporated by reference in this presentation, including expectations about estimated historical or future oper ...
MagnaChip(MX) - 2025 Q1 - Earnings Call Transcript
2025-05-12 22:02
Magnachip Semiconductor (MX) Q1 2025 Earnings Call May 12, 2025 05:00 PM ET Company Participants Steven Pelayo - Managing DirectorYoung-Joon Kim - CEO, Director & Member of the Risk CommitteeShin Young Park - CFO & Chief Accounting OfficerNick Doyle - Vice President Conference Call Participants Suji Desilva - MD & Senior Research Analyst Operator everyone, and thank you for standing by. Welcome to the MagnaChip Semiconductor First Quarter twenty twenty five Earnings Conference Call. At this time, all partic ...
MagnaChip(MX) - 2025 Q1 - Earnings Call Transcript
2025-05-12 22:00
Magnachip Semiconductor (MX) Q1 2025 Earnings Call May 12, 2025 05:00 PM ET Speaker0 everyone, and thank you for standing by. Welcome to the MagnaChip Semiconductor First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. Please note that today's conference is being recorded. I will now hand the conference over to your speaker host, Damon Palle of Investor Relations. Ple ...
MagnaChip(MX) - 2025 Q1 - Quarterly Report
2025-05-12 20:40
[PART I FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20FINANCIAL%20INFORMATION) This section provides the unaudited interim consolidated financial statements and management's discussion and analysis of the company's financial condition and results of operations [Item 1. Interim Consolidated Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Interim%20Consolidated%20Financial%20Statements%20(Unaudited)) This section presents Magnachip Semiconductor Corporation's unaudited consolidated financial statements for the first quarter of 2025, detailing balance sheets, statements of operations, comprehensive loss, changes in stockholders' equity, and cash flows [Consolidated Financial Statements](index=4&type=section&id=Consolidated%20Financial%20Statements) The consolidated financial statements show total assets decreased to **$373.9 million** by March 31, 2025, with Q1 2025 revenue of **$44.7 million** and a net loss of **$8.9 million** Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $132,654 | $138,610 | | Total current assets | $215,474 | $219,229 | | Total assets | $373,867 | $379,316 | | Total current liabilities | $47,787 | $46,268 | | Total liabilities | $104,666 | $102,519 | | Total stockholders' equity | $269,201 | $276,797 | Consolidated Statement of Operations Highlights (in thousands) | Account | Three Months Ended Mar 31, 2025 | Three Months Ended Mar 31, 2024 | | :--- | :--- | :--- | | Total revenues | $44,722 | $43,438 | | Gross profit | $9,362 | $6,359 | | Operating loss | ($6,288) | ($9,391) | | Loss from continuing operations | ($5,082) | ($14,284) | | Net loss | ($8,878) | ($15,417) | | Diluted loss per share | ($0.24) | ($0.40) | Consolidated Statement of Cash Flows Highlights (in thousands) | Cash Flow Activity | Three Months Ended Mar 31, 2025 | Three Months Ended Mar 31, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | ($4,669) | ($3,972) | | Net cash used in investing activities | ($389) | ($1,468) | | Net cash provided by (used in) financing activities | ($1,455) | $25,244 | | Net decrease (increase) in cash | ($5,956) | $13,510 | [Notes to Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) These notes detail accounting policies and financial data, notably the reclassification of the Display business as a discontinued operation and specifics on inventory, debt, and the company's single Power solutions segment - On April 6, 2025, the Board of Directors approved a plan to shut down the Company's Display business to transition into a pure-play Power company, now classified as a discontinued operation[36](index=36&type=chunk) Results from Discontinued Operations (in thousands) | Metric | Three Months Ended Mar 31, 2025 | Three Months Ended Mar 31, 2024 | | :--- | :--- | :--- | | Net sales | $9,556 | $5,629 | | Gross profit | $3,117 | $2,609 | | Operating loss | ($3,824) | ($4,068) | | Loss from discontinued operations, net of tax | ($3,796) | ($1,133) | - As of March 31, 2025, the company had an outstanding term loan of approximately **$27.3 million** with Korea Development Bank (KDB), secured by its Gumi properties[67](index=67&type=chunk)[70](index=70&type=chunk)[181](index=181&type=chunk) - The company operates as a single operating segment, the Power solutions business, with Q1 2025 revenue from this segment at **$44.7 million**, an increase from **$39.9 million** in Q1 2024[79](index=79&type=chunk)[82](index=82&type=chunk) - Under its stock repurchase program, the company bought back **296,835 shares** for **$1.1 million** in Q1 2025, and an additional **612,184 shares** for **$1.9 million** in April 2025[89](index=89&type=chunk)[93](index=93&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's transition to a pure-play Power company, analyzing Q1 2025 financial performance, liquidity, capital resources, and new financing agreements [Overview and Recent Developments](index=28&type=section&id=Overview%20and%20Recent%20Developments) This section outlines the company's power semiconductor business, its strategic decision to shut down the Display business, and new financing agreements for capital expenditures and working capital - On April 6, 2025, the Board approved a plan to shut down the Display business to focus investments on the Power Analog Solutions and Power IC businesses[105](index=105&type=chunk)[117](index=117&type=chunk) - The shutdown of the Display business is estimated to have a total cash cost of **$12-$15 million**, expected to be offset by **$15-$20 million** in cash inflows from the sale of "end of life" products and IP monetization over approximately two years[118](index=118&type=chunk)[119](index=119&type=chunk) - The company secured a KRW **40 billion** (approx. **$29.8 million**) working capital term loan from KDB in March 2024 and a credit agreement for up to KRW **38 billion** (approx. **$26.5 million**) in CAPEX loans in December 2024[121](index=121&type=chunk)[124](index=124&type=chunk) [Results of Operations](index=39&type=section&id=Results%20of%20Operations) Q1 2025 total revenues increased **3.0%** to **$44.7 million**, driven by the Power solutions business, resulting in a **47.2%** gross profit increase and a narrowed operating loss Q1 2025 vs Q1 2024 Performance (in millions) | Metric | Q1 2025 | Q1 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenues | $44.7 | $43.4 | +3.0% | | Power Solutions Revenue | $44.7 | $39.9 | +12.1% | | Gross Profit | $9.4 | $6.4 | +47.2% | | Gross Margin | 20.9% | 14.6% | +6.3 p.p. | | Operating Loss | ($6.3) | ($9.4) | +33.0% | | Loss from Cont. Ops | ($5.1) | ($14.3) | +64.3% | - The increase in Power solutions revenue was driven by higher demand for power products like MOSFETs in communication applications and Power IC products for televisions and OLED IT devices[163](index=163&type=chunk) - The year-over-year increase in gross profit margin was primarily attributable to the appreciation of the U.S. dollar against the Korean Won in Q1 2025[165](index=165&type=chunk) - Net foreign currency loss improved to **$0.4 million** in Q1 2025 from a loss of **$5.0 million** in Q1 2024, contributing to the reduced net loss[172](index=172&type=chunk) [Liquidity and Capital Resources](index=43&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2025, the company held **$132.7 million** in cash, with management confident in sufficient liquidity for the next 12 months, despite **$4.7 million** cash used in operations - Cash and cash equivalents were **$132.7 million** as of March 31, 2025, and the company believes it has sufficient cash to fund operations and capital expenditures for the next 12 months[12](index=12&type=chunk)[182](index=182&type=chunk) - Net cash used in operating activities was **$4.7 million** for Q1 2025, compared to **$4.0 million** used in Q1 2024[184](index=184&type=chunk) - Capital expenditures for 2025 are expected to be in the range of **$26–$28 million**, including **$14-15 million** for new investments in the Gumi fabrication facility, partially funded by the Equipment Financing Credit Agreement[190](index=190&type=chunk) [Item 4. Controls and Procedures](index=46&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded the company's disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal control over financial reporting during the quarter - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective as of March 31, 2025[196](index=196&type=chunk) - There were no material changes to the company's internal control over financial reporting during the quarter ended March 31, 2025[197](index=197&type=chunk) [PART II OTHER INFORMATION](index=47&type=section&id=PART%20II%20OTHER%20INFORMATION) This section provides additional information, including risk factors and details on the company's stock repurchase program [Item 1A. Risk Factors](index=47&type=section&id=Item%201A.%20Risk%20Factors) The company reports no material changes to the risk factors previously disclosed in its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 - There have been no material changes to the risk factors disclosed in the company's 2024 Form 10-K[204](index=204&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=48&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the company's Q1 2025 stock repurchase activity, where **296,835 shares** were bought back for **$1.1 million** under its **$50 million** program Stock Repurchase Activity - Q1 2025 | Period | Total Shares Purchased (Program) | Average Price Paid per Share | Approximate Dollar Value Remaining (in thousands) | | :--- | :--- | :--- | :--- | | January 2025 | 31,254 | $3.95 | $24,465 | | February 2025 | — | — | $24,465 | | March 2025 | 265,581 | $3.71 | $23,489 | | **Total** | **296,835** | **$3.74** | **$23,489** | - The stock repurchases are part of a **$50 million** stock buyback program authorized by the Board of Directors on July 19, 2023[208](index=208&type=chunk)[87](index=87&type=chunk)
MagnaChip(MX) - 2025 Q1 - Quarterly Results
2025-05-12 20:20
[First Quarter 2025 Results Summary](index=1&type=section&id=First%20Quarter%202025%20Results%20Summary) [Management Commentary](index=1&type=section&id=Management%20Commentary) Management highlights consistent year-over-year growth and a strategic plan to achieve $300 million annual revenue and 30% gross margin - The company is implementing a "3-3-3 strategy" targeting **$300 million in annual revenue**, a **30% gross margin**, and a three-year execution timeline to drive structural improvements and profitability[5](index=5&type=chunk) - In Q1, **27 new-generation PAS products** were released, with plans to launch over **40 in 2025** and approximately **55 more in 2026**, targeting Industrial, Automotive, Consumer, and Communication markets[5](index=5&type=chunk) - The shutdown of the Display business is projected to reduce annualized operating expenses by **30% to 35%**, supporting a shift towards a more efficient and profitable business model[5](index=5&type=chunk) - Q1 2025 gross margin from continuing operations increased to **20.9%**, up from **17.6% in Q1 2024** and exceeding guidance[5](index=5&type=chunk) [Q1 2025 Highlights](index=1&type=section&id=Q1%202025%20Highlights) Q1 2025 continuing operations revenue reached **$44.7 million**, up **12.1% year-over-year**, driven by strong PAS and Power IC growth and 50 design-wins Q1 2025 Performance vs. Guidance and Prior Year | Metric | Q1 2025 Actual | Q1 2025 Guidance | YoY Change (Continuing Ops) | | :--- | :--- | :--- | :--- | | **Revenue (Continuing Ops)** | $44.7M | $42.0M - $47.0M | +12.1% | | **Gross Margin (Continuing Ops)** | 20.9% | 18.5% - 20.5% | +3.3 ppts | - The Power Analog Solutions (PAS) revenue from the Communication market grew **64% year-over-year**[6](index=6&type=chunk) - The Power IC (PIC) business revenue increased by **44.1% year-over-year**, driven by strength in TV-LED and OLED power ICs[6](index=6&type=chunk) - Secured **50 design-wins** in Q1, a **13.6% increase** from 44 wins in Q1 2024, including new generation Super Junction and low-voltage MOSFET products[6](index=6&type=chunk) - Repurchased approximately **0.3 million shares for $1.1 million** during the quarter, ending with a cash balance of **$132.7 million**[6](index=6&type=chunk) [Q1 2025 Financial Performance](index=2&type=section&id=Q1%202025%20Financial%20Performance) Q1 2025 core Power solutions revenue reached **$44.7 million**, up **12.1% year-over-year**, resulting in a GAAP operating loss of **$6.3 million** Q1 2025 Financial Results (GAAP) | Metric | Q1 2025 | Q4 2024 | Q1 2024 | | :--- | :--- | :--- | :--- | | **Consolidated Revenues** | $44.7M | $51.2M | $43.4M | | *Power solutions business* | *$44.7M* | *$48.9M* | *$39.9M* | | **Consolidated Gross Profit Margin** | 20.9% | 21.7% | 14.6% | | *Power solutions business* | *20.9%* | *23.2%* | *17.6%* | | **Operating Loss** | ($6.3M) | ($7.8M) | ($9.4M) | | **Loss from continuing operations** | ($5.1M) | ($8.7M) | ($14.3M) | | **Diluted Loss per Share (Continuing)** | ($0.14) | ($0.24) | ($0.37) | Q1 2025 Financial Results (Non-GAAP) | Metric | Q1 2025 | Q4 2024 | Q1 2024 | | :--- | :--- | :--- | :--- | | **Adjusted Operating Loss** | ($5.4M) | ($4.5M) | ($8.6M) | | **Adjusted EBITDA** | ($2.1M) | ($0.5M) | ($4.8M) | | **Adjusted Loss (Continuing Ops)** | ($3.8M) | $4.6M (Income) | ($9.8M) | | **Adjusted EPS (Diluted)** | ($0.10) | $0.12 | ($0.26) | [Financial Guidance](index=2&type=section&id=Financial%20Guidance) [Q2 2025 Guidance](index=2&type=section&id=Q2%202025%20Guidance) Magnachip projects Q2 2025 continuing operations revenue between **$45 million and $49 million**, with a consolidated gross profit margin of **19.5% to 21.5%** Q2 2025 Guidance | Metric | Q2 2025 Guidance Range | Mid-point vs. Q1 2025 ($44.7M) | Mid-point vs. Q2 2024 ($44.1M) | | :--- | :--- | :--- | :--- | | **Revenue (Continuing Ops)** | $45M - $49M | +5.2% | +6.6% | | **Gross Profit Margin** | 19.5% - 21.5% | N/A | N/A | [Full-Year 2025 Guidance](index=3&type=section&id=Full-Year%202025%20Guidance) The company reiterates full-year 2025 guidance for mid-to-high single-digit revenue growth and a gross profit margin of **19.5% to 21.5%** Full-Year 2025 Guidance | Metric | Full-Year 2025 Guidance | | :--- | :--- | | **Revenue Growth (YoY)** | Mid-to-high single digit % (vs. $185.8M in 2024) | | **Gross Profit Margin** | 19.5% - 21.5% (vs. 21.5% in 2024) | [Financial Statements](index=5&type=section&id=Financial%20Statements) [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) Q1 2025 total revenues were **$44.7 million** from Power solutions, resulting in a **$6.3 million** operating loss and a total net loss of **$8.9 million** Q1 2025 Statement of Operations (in thousands) | Line Item | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **Total revenues** | $44,722 | $43,438 | | **Gross profit** | $9,362 | $6,359 | | **Operating loss** | $(6,288) | $(9,391) | | **Loss from continuing operations** | $(5,082) | $(14,284) | | **Loss from discontinued operations, net of tax** | $(3,796) | $(1,133) | | **Net loss** | $(8,878) | $(15,417) | | **Diluted loss per Share (Total)** | $(0.24) | $(0.40) | [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) As of March 31, 2025, total assets were **$373.9 million**, with **$132.7 million** in cash and **$104.7 million** in total liabilities Balance Sheet Summary (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $132,654 | $138,610 | | **Total current assets** | $215,474 | $219,229 | | **Total assets** | $373,867 | $379,316 | | **Total current liabilities** | $47,787 | $46,268 | | **Total liabilities** | $104,666 | $102,519 | | **Total stockholders' equity** | $269,201 | $276,797 | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For Q1 2025, net cash outflow was **$6.0 million**, with **$4.7 million** used in operating activities, ending the period with **$132.7 million** in cash Cash Flow Summary for Three Months Ended March 31 (in thousands) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | **Net cash used in operating activities** | $(4,669) | $(3,972) | | **Net cash used in investing activities** | $(389) | $(1,468) | | **Net cash provided by (used in) financing activities** | $(1,455) | $25,244 | | **Net (decrease) increase in cash** | $(5,956) | $13,510 | | **Cash at end of period** | $132,654 | $171,602 | [Non-GAAP Financial Measures Reconciliation](index=8&type=section&id=Non-GAAP%20Financial%20Measures%20Reconciliation) [Reconciliation of Operating Loss to Adjusted Operating Loss](index=8&type=section&id=Reconciliation%20of%20Operating%20Loss%20to%20Adjusted%20Operating%20Loss) Q1 2025 GAAP operating loss of **$6.3 million** was reconciled to a non-GAAP Adjusted Operating Loss of **$5.4 million**, primarily by excluding equity-based compensation Reconciliation of Operating Loss to Adjusted Operating Loss (in thousands) | Line Item | Q1 2025 | Q4 2024 | Q1 2024 | | :--- | :--- | :--- | :--- | | **Operating loss– continuing operations (GAAP)** | $(6,288) | $(7,837) | $(9,391) | | Equity-based compensation expense | $868 | $1,780 | $828 | | Other charges | $— | $1,589 | $— | | **Adjusted Operating Loss– continuing operations (Non-GAAP)** | $(5,420) | $(4,468) | $(8,563) | [Reconciliation to Adjusted EBITDA and Adjusted Income (Loss)](index=9&type=section&id=Reconciliation%20to%20Adjusted%20EBITDA%20and%20Adjusted%20Income%20(Loss)) Q1 2025 GAAP loss from continuing operations of **$5.1 million** was adjusted to a non-GAAP Adjusted EBITDA of **-$2.1 million** and an Adjusted Loss of **$3.8 million** Reconciliation to Adjusted EBITDA (in thousands) | Line Item | Q1 2025 | Q4 2024 | Q1 2024 | | :--- | :--- | :--- | :--- | | **Loss from continuing operations (GAAP)** | $(5,082) | $(8,732) | $(14,284) | | Adjustments (Interest, Tax, D&A, etc.) | $1,765 | $(8,349) | $3,690 | | **EBITDA – continuing operations** | $(3,317) | $(17,081) | $(10,594) | | Further Adjustments (Stock Comp, FX, etc.) | $1,244 | $16,615 | $5,791 | | **Adjusted EBITDA – continuing operations (Non-GAAP)** | $(2,073) | $(466) | $(4,803) | Reconciliation to Adjusted Income (Loss) (in thousands) | Line Item | Q1 2025 | Q4 2024 | Q1 2024 | | :--- | :--- | :--- | :--- | | **Loss from continuing operations (GAAP)** | $(5,082) | $(8,732) | $(14,284) | | Adjustments (Stock Comp, FX, Tax Effect, etc.) | $1,267 | $13,366 | $4,448 | | **Adjusted Income (Loss) – continuing operations (Non-GAAP)** | $(3,815) | $4,634 | $(9,836) |
Methanex Reports on Annual General Meeting of Shareholders
Globenewswire· 2025-05-01 22:40
Core Points - Methanex Corporation held its Annual General Meeting on May 1, 2025, in Vancouver, British Columbia, with a total of 55,396,544 common shares voted, representing 82.2% of all outstanding shares [1][2] Voting Results - All items of business were approved by shareholders, including the election of all director nominees with high approval rates, such as Doug Arnell receiving 99.75% of votes for [2] - The re-appointment of KPMG LLP as auditor was approved with 73.04% of votes for, while 26.96% of votes were withheld [3] - An advisory vote on executive compensation was accepted with 80.76% of votes for, indicating strong shareholder support for the company's compensation approach [3] Company Overview - Methanex is the world's largest producer and supplier of methanol, publicly traded on the Toronto Stock Exchange under the symbol "MX" and on the Nasdaq under "MEOH" [3]
Methanex Announces the Successful Restart of Geismar 3
Globenewswire· 2025-05-01 11:35
Group 1 - Methanex Corporation has successfully restarted its 1.8 million tonne methanol plant, Geismar 3 (G3), in Geismar, Louisiana, after an unplanned outage in late February [1] - Methanex is the world's largest supplier of methanol and is publicly traded on the Toronto Stock Exchange under the symbol "MX" and on the Nasdaq under "MEOH" [2] - The company is based in Vancouver, British Columbia, and provides information about its operations on its official website [2]