Revenue Plunge and Various Risks but Listing Maintained; Uncertainty Persists

Revenue KRW 20.36B (down 45.2% YoY from KRW 37.15B), operating profit KRW 1.23B (down 65% YoY from KRW 3.52B)
Net income KRW 4.6B (up 32% YoY, driven by non-operating gains such as FX translation gains)
Debt ratio 52.73%, net debt ratio 2.19% (cash equivalents KRW 32.2B, total borrowings KRW 35.5B)
8 ongoing lawsuits related to former management’s embezzlement/breach of trust (total KRW 13.03B); designated as unfaithful disclosure company (7 penalty points)
Fire at Ulsan Plant 3 (Feb 2026, damage under investigation; self-estimated loss of KRW 37.2M recognized)
Trading suspended in Jan 2026; listing maintenance decision on May 14, 2026, trading resumed May 15, 2026 (after additional improvement period and review)

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