Wellcron Hantec Q1 Operating Profit Turns Positive but Net Loss Continues and Debt Ratio Soars to 936%

Consolidated sales KRW 31.3 billion, operating profit KRW 1.6 billion (swing to profit from operating loss of KRW 0.95 billion in same period last year)
Net loss continues at KRW 3.55 billion (loss widened from KRW 0.17 billion in same period last year)
Debt ratio 936.65% (up from 741.04% at end of 2025), risk of capital erosion
Treasury shares 521,275 (2.30%), no additional buyback or cancellation plans
Contingent liability from PF loan conditional debt assumption KRW 42.45 billion (maturity July 2026, grace period for acceleration)
Litigation provisions KRW 6.15 billion, multiple lawsuits pending (10 as defendant, 8 as plaintiff)
Credit rating downgrade trend (A- in 2023 to BBB0/BB/B+ in 2026)

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