Exion Group: 80% Capital Reduction Completed, Sales Surge but Net Loss Persists

Quarterly sales surged to KRW 21.1bn (vs. KRW 1.1bn in prior year) due to high-tech segment consolidation
Operating loss narrowed to KRW 0.48bn (vs. KRW 1.95bn loss in prior year)
Net loss improved to KRW 0.2bn (vs. KRW 2.51bn loss in prior year)
Debt ratio increased to 118% (from 101% at end of prior year)
80% capital reduction completed (April 2026): shares from 46,482,609 to 9,296,521, capital from KRW 23.2bn to KRW 4.6bn
Capital reduction aimed at covering accumulated deficits
Repeated CB issuances and early redemptions (13th CB issued KRW 8bn, partly redeemed early)
Rights offering canceled (planned KRW 16bn via third-party allocation, payment default)
Largest shareholder Inopian stake reduced to 10.12% due to collateral forced sale
Ongoing lawsuits (4 cases, including KRW 5bn damage claim)
Allowance for bad debts KRW 47.4bn (83.2% of receivables), most loans and receivables fully provisioned

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