Mobile Appliance Q1 2026: Operating Loss of KRW 2.9B, Net Loss of KRW 3.0B; Capital Raising via Rights Issue and Convertible Bonds

Consolidated Q1 2026 revenue KRW 4.46B (down 46.9% YoY), operating loss KRW 2.87B, net loss KRW 2.99B (vs net profit of KRW 0.38B in prior-year period).
Consolidated basic EPS loss of KRW 92; separate basic EPS loss of KRW 88.
Rights issue: 4,675,324 common shares at KRW 1,925 (approx. KRW 9B) and 7th CB of KRW 10B (conversion price KRW 2,274) announced (in progress).
Change in controlling shareholder on Feb 11, 2026 via share purchase agreement (new controller: Daekwang Co., Ltd.).
R&D expense 19.9% of sales (KRW 886.6M), up from 9.0% in prior year.
Allowance for trade receivables 37.9% (vs 28.7% at end of 2025); inventory KRW 9.63B (up from KRW 5.33B).
Total borrowings KRW 8.86B (short-term loans KRW 2.4B, bonds with warrants KRW 6.46B), up from KRW 5.50B in prior period.
Revenue concentration: 84.6% from two major customers (A and B).

ADVERTISEMENT (250px+)