DYD Corrects Audit Report: Net Assets Down KRW 1.26B Due to Error in FVOCI Financial Assets

Audit report restated: Correction of valuation error in FVOCI financial assets (Winova equity) → net assets decreased by KRW 1,258 million (no impact on net income)
2025 revenue KRW 44.9B (vs KRW 37.4B prior year) → operating loss KRW 0.31B (prior year loss KRW 0.05B), net loss KRW 13.7B (prior year loss KRW 59.1B)
Debt ratio 189.3% (prior year 196.9%), net debt KRW 19.2B, total equity KRW 10.1B
Change in largest shareholder: from Legtech to OULANGE TRADE LIMITED (Feb 2026)
Full impairment of investment in associate Sambo Construction (KRW 7.3B) and subsidiary DYD TVS (KRW 0.15B)
Other bad debt expense KRW 6.5B (receivables etc.), other bad debt recovery KRW 2.6B (Sambo rehabilitation security)
Deferred tax assets not recognized (temporary differences and tax losses KRW 136.1B, tax rate 22%)
Convertible bonds and bonds with warrants have refixing conditions; derivative liabilities KRW 1.43B