NuinTek: Continued Net Loss in Q1 2026, Credit Rating Downgrade, Reverse Stock Split and Capital Increase

Consolidated Q1 2026 sales: KRW 23.1 billion, operating profit: KRW 0.024 billion, net loss: KRW 0.23 billion. Sales increased YoY but still loss-making.
Consolidated debt ratio: 338.91%, retained earnings deficit: -KRW 41.7 billion (capital impairment).
Credit rating downgraded from BB- to B+ in April 2025 (NICE D&B).
On March 11, 2026, board resolved a 5:1 reverse stock split (record date: April 10, 2026). Post-split shares: 11,300,312.
On March 11, 2026, board resolved a rights offering (7,400,000 new shares post-split) with expected payment date June 30, 2026. Funds for operations, facilities, and debt repayment.
Main product (DC Link capacitor for renewable energy) sales share increased to 65.97%. Holds over 70% market share in Hyundai/Kia eco-friendly vehicles.
16th private placement convertible bond outstanding: KRW 1.8 billion (conversion price KRW 3,505 after reverse split).
Separate Q1 2026 sales: KRW 20.4 billion, operating profit: KRW 0.24 billion, net loss: KRW 0.23 billion. Difference from consolidated profit due to losses from subsidiaries.

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