Daiyang Metal Q1 2026 Turns to Profit, Debt Ratio Rises Due to CB Issuance

Consolidated operating profit turned to 1.05 billion KRW in Q1 2026 (vs. operating loss of 0.37 billion KRW in Q1 2025), net income 0.84 billion KRW (vs. net loss 1.85 billion KRW)
Revenue 55.17 billion KRW, up 1.3% YoY
Issued 24th CB on March 30, 2026 for 10.5 billion KRW (coupon 5%, maturity 2029, conversion price 1,292 won), recognized derivative liability of 2.42 billion KRW
Adjusted debt ratio rose to 41.55% from 33.37% at year-end 2025 (total debt 58.47 billion, equity 100.95 billion)
Six lawsuits related to management dispute pending; full provision of 1.43 billion KRW for other receivables
Consolidated subsidiaries DYM Loan (financial) and Daiyang Hwasung (SPC) included for asset securitization borrowing of 10 billion KRW
EPS 16 won (vs. -47 won in Q1 2025), diluted EPS 16 won
Acquired property in Gwangjin-gu, Seoul on April 3, 2026 and provided as collateral for the 24th CB

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