The Codi Reports Q1 2026 Operating Loss of 3.9B KRW, Going Concern Uncertainty Persists

Consolidated Q1 2026 revenue 5.21B KRW (down 25.5% YoY), operating loss 3.91B KRW (swing to loss), net loss 3.97B KRW.
Debt ratio 1,111%, net debt ratio 813%, net debt 53.5B KRW. Extremely weak financial structure.
Operating cash flow -8.28B KRW; period-end cash 4.18B KRW.
Prior year audit report included going concern material uncertainty and key audit matters (FVTPL financial assets valuation, CGU impairment).
Electronic component (coil, transformer) segment operating loss 1.46B KRW; other segments also in loss.
Related party receivables 0.94B KRW, payables 18.77B KRW. Contingent liabilities from real estate development subsidiaries.
Litigation for former CEO embezzlement ongoing.
Total assets 79.6B, total liabilities 73.1B, equity 6.6B (risk of capital impairment).
No dividends or share buybacks.

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