Hyosung Chemical Q1 2026 Operating Profit Turns Positive, Financial Structure Improves

Q1 2026 consolidated sales KRW 587.0B, operating profit KRW 2.77B, turning from full-year 2025 operating loss of KRW 160.5B
Net loss from continuing operations KRW 17.5B, narrowing from KRW 229B in 2025 full year
Sale of specialty gas business (KRW 920B) and Onsan tank terminal (KRW 150B) improved equity to KRW 643.2B (vs negative KRW 68B in 2024)
Total liabilities KRW 2,003.5B, debt ratio 311%, still high but improved from 520% in prior year
No dividends for past 3 years, no share buyback/cancellation plans
Subsidiaries: Hyosung Vina Chemicals (51% owned) recorded net loss KRW 24.6B; Hyosung Film (Quzhou) net loss KRW 4.3B
R&D expenses KRW 3.8B (0.65% of sales), holds 3,344 patents
One pending lawsuit (KRW 1.5B), management believes not material

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