Continued delisting risk, operating profit plunges 90%, and 1.936 billion won lawsuits pending
Since January 2024, trading has been suspended and delisting grounds arose due to unfaithful disclosure and auditor's opinion disclaimer; the delisting process is currently stayed by a court injunction pending court decision, maintaining uncertainty
Consolidated operating profit plummeted 89.6% to 0.157 billion won from 1.505 billion won in the prior quarter, indicating severe deterioration in core profitability
Net income of 1.312 billion won relied heavily on one-off gains such as disposal of tangible assets (0.878 billion won), highlighting high earnings volatility
Accumulated deficit on a consolidated basis reached 38.509 billion won; although not in capital impairment, financial structure remains fragile (estimated equity ratio of 59.9%)
On March 10, 2026, the 4th convertible bonds worth 18.42 billion won were fully redeemed early; total borrowings stand at 1.86 billion won including short-term loans of 0.9 billion and long-term loans of 0.68 billion
Two lawsuits for damages totaling 1.936 billion won are pending with no provisions recognized, posing potential future financial burden
Full impairment of 13 billion won for LFP battery sales rights acquired from the largest shareholder and 2.5 billion won prepayments to related party, with residual risk remaining
Chinese subsidiary Shenzhen Ailaifu Optoelectronics is in a capital deficit (negative equity of 1.903 billion won)