HIGEN RNM Q1 2026 Operating Loss Widens, Net Loss of 3.2B Won

Consolidated Q1 revenue 18.6B won (+2.6% YoY), operating loss 3.4B won, net loss 3.2B won (FY2025 operating loss 8.9B won)
Separate Q1 revenue 18.6B won, operating loss 3.3B won, net loss 3.1B won
Revenue mix: industrial motors 79.9%, servo motors/drives 15.3%, EV motors/inverters 3.8%
Export share increased: Q1 exports 2.99B won (vs Q1 2025 2.92B), US sales 2.81B won (vs 1.35B)
R&D expenses 0.52B won (2.8% of revenue), ongoing government projects for humanoid actuators, etc.
Total borrowings 25.6B won, cash 17.2B won, net debt 8.4B won (gearing ratio 7.4%, up from 3.3% at year-end 2025)
Treasury shares: 1,854,900 shares (6.01%), no change during quarter. No dividend paid
Chinese subsidiaries: Jungseong Electric (Qingdao) net loss 0.15B, Higentongda net loss 0.002B
Contingent liabilities: no material litigation; assets pledged as collateral 23.5B won (land, buildings, machinery)

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