1Q26 Operating Loss of 1.34B KRW, Net Loss of 3.37B KRW

• Consolidated operating loss of 1.34B KRW in 1Q26 (vs 1.23B KRW in 1Q25), net loss 3.37B KRW (vs 1.23B KRW) — widening losses.
• Revenue slightly up to 4.71B KRW (from 4.55B KRW), but SG&A expenses of 3.12B and financial costs of 3.01B drove losses.
• Cash and cash equivalents surged to 6.49B KRW (from 1.87B at year-end), mainly from convertible bond issuance and increased borrowings (total debt 14.78B).
• Three convertible bond series (5th, 6th, 7th) issued, raising carrying amount to 10.41B (from 5.84B); derivative liabilities jumped to 5.98B (from 2.15B).
• No dividend declared (30 won per share in prior year same quarter).
• New businesses (EV ceramic substrates, UWB antennas) yet to contribute meaningful revenue; viewed as future growth drivers.
• Post-report: change in major shareholder (April 2026), designation as unfair disclosure entity, paid penalty of 28M KRW.

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