Haisung Aero-Robotics Reports Q1 2026 Operating Loss of 3.0 Billion Won; Deficit Continues but Financial Structure Sound

Q1 2026 revenue 3,285 million won (+7.2% YoY), operating loss 300 million won, net loss 279 million won (loss widened YoY)
Change in largest shareholder: from TPC to K-Humus (stock transfer completed March 23, 2026)
Debt ratio 8.49%, sound financial structure; cash & equivalents 6,475 million won, short-term financial products 4,000 million won
FVTPL financial assets recorded valuation loss of 185 million won (vs. gain in prior period)
Inventory 2,943 million won (+11.4% from year-end), trade receivables 2,324 million won (allowance 68 million)
R&D expense 155 million won (4.7% of sales); 21 patents held
No dividends, no share buyback/cancellation (accumulated deficit)
History of designation as unfaithful disclosure entity (2024, penalty points 6.0, fine 24 million won) - currently not applicable

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