Hansun Engineering Reports Net Loss in Q1 Due to Derivative Loss on Convertible Bonds Despite Revenue Growth

Revenue in Q1 2026 reached 22.4 billion won (+70.8% YoY), operating profit 6.2 billion won.
Net loss of 5.1 billion won due to 18 billion won derivative valuation loss (vs net profit 1.8 billion in Q1 2025).
Credit rating BB+ (speculative) with cash flow rating B (이크레더블).
Debt ratio improved from 106% to 70% due to capital increase from convertible bond conversion.
3rd convertible bond worth 21 billion won issued, conversion price adjusted to 8,287 won; outstanding amount at end of quarter: 6.3 billion won.
Stock price volatility: low 7,840 won, high 17,930 won, close 13,850 won.
Articles amended: added solar power generation business; renamed outside directors to independent directors.
Administrative fines: 526 million won for building code violations, 2 million won for late disclosure.