Smart Radar System Improves Liquidity with 2nd CB of 25B Won, Diversifies Sales with Major Order from Company A

Consolidated 1Q 2026 sales: 1.46B won (down from 2.04B in 1Q 2025), operating loss 1.47B won, net loss 1.74B won
Accumulated deficit 38.9B won, total equity 31.5B won
In March 2026, issued 2nd unsecured private convertible bond of 25B won (conversion price 6,795 won, maturity 2031)
Total borrowings 17.98B won, cash and equivalents 23.69B won; net debt -5.72B won (vs +5.17B at end of 2025)
Secured a new customer (Company A) with 746M won (51% of sales) for autonomous driving services
R&D expenses 697M won (47.6% of sales), high cost of sales leading to continued operating loss
Major shareholders: Kim Yong-hwan 7.15%, Kim Dong-hong 6.31%, Kim Yong-jae 5.37%
Credit rating: BB0 (NICE D&B, valid from 2026.04.14 to 2027.04.07)

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