Solux Reports Q1 2026 Operating Loss of KRW 3.06B, Net Loss of KRW 8.53B

Despite a 43% YoY revenue increase to KRW 7.36B in Q1 2026, operating loss widened to KRW 3.06B and net loss to KRW 8.53B (vs KRW 4.87B net loss in Q1 2025).
Debt ratio rose to 43.67% from 35.52% at year-end; total liabilities KRW 69.87B, net debt KRW 65.89B.
Outstanding convertible bonds reached KRW 49.41B due to new issuances; derivative liabilities KRW 1.20B.
Equity-method loss of KRW 0.11B and impairment loss of KRW 4.56B recognized for investment in AriBio; merger requires special shareholder resolution.
New businesses (electrical/telecom/firefighting construction, electric buses, bio-lighting) are in progress but contribute minimal revenue.
Litigation risk: ongoing lawsuit related to Cuff Innovation debt of KRW 4.5B; pledged assets worth KRW 4.8B.
Cash and cash equivalents increased to KRW 3.97B (from KRW 0.63B at year-end) due to CB proceeds.

ADVERTISEMENT (250px+)