5:1 Reverse Stock Split and 7,400,000 Share (65.48%) Rights Offering

Issuance of 7,400,000 new shares (65.48% of outstanding) at 1st issue price of 997 won, raising approx. 7.38 billion won
Use of proceeds: debt repayment 1.8B, facility investment 4.0B, operating funds 1.58B
5:1 reverse stock split resolved on March 11, 2026 (post-split shares: 11,300,312)
Debt-to-equity ratio 383.1%, capital erosion rate 43.5%, net borrowing dependency 32.2% as of FY2025 (consolidated)
Designated as 'Investment Cautionary Item' on March 19, 2026 due to 5 consecutive years of operating losses
FY2025 net loss 12.66B won, operating loss 7.23B (operating margin -8.73%)
Cash and cash equivalents only 1.53B as of end-2025; current ratio 67.5% indicating liquidity risk
Major shareholder and related parties' stake to increase from 14.70% to 15.57% post-offering (assuming 120% subscription)
Planned early redemption of remaining 1.8B in 16th CB (Put Option due May 31, 2026)
FY2025 revenue 82.8B (+4.1% YoY) but cost of sales ratio 99.6% showing extremely low profitability
Q1 2026 consolidated operating profit 0.24B (turned positive) but net loss 0.23B persists
Inventory turnover 5.37x (2025) vs industry average 12.57x, significantly lower
Allowance for doubtful accounts 26.9% of trade receivables (2025); 95.8% allowance for overdue >1 year
Risk of delisting due to low-priced stock and market cap deficiency (post-split market cap 16.2B vs threshold 30B)

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Filing: [Correction of Description] Securities Registration Statement (Equity Securities)
Company: NUIN TEK (012340)
Submission: NUIN TEK CO., LTD
Receipt: 05-20-2026