CNPLUS Q1 2026: Operating loss of 795mn won, debt ratio 652%

Consolidated revenue 17.5bn won, operating loss 796mn won, net loss 897mn won (swing to loss YoY)
Total liabilities 47.4bn won, equity 7.3bn won, debt ratio 652% (deteriorating financial structure)
Consolidated order backlog increased to 44.9bn won (mainly wind power EPC), recognized construction revenue 12.9bn won
Convertible bonds 8.7bn won (maturity 2026.05.17) and short-term borrowings pose liquidity risk
Capital increase via rights offering added 4.5bn won to capital, capital surplus 544mn won, deficit 6.2bn won
Allowance for doubtful accounts on trade receivables 1.28bn won, on prepayments 2.56bn won
Separate (parent) operating loss 483mn won, net loss 535mn won
Property, plant and equipment includes power generation facilities 7.29bn won, construction in progress increased
Related party transactions: loans and receivables with Ins&Co etc.

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