Dowooinsys Q1 2026: Operating profit 1.82B won, net profit 5.74B won; credit downgraded to BB-

Q1 2026 consolidated: Revenue 26.83B won, operating profit 1.82B won, net profit 5.74B won (YoY revenue increase and turnaround to profit)
Credit rating downgraded from BB to BB- on Apr 24, 2026 (by NICE, following a trend: BB in 2025, BB in 2024, BBB- in 2021)
Subsidiary Dowooinsys Vina lost first instance in logistics lawsuit (claim amount 818M won); appeal ongoing; recognized provision of 630M won
Self-reported to FSS for failure to file securities registration statement during a 2016 capital increase; investigation underway (potential fines)
No dividends or share buybacks (dividends permitted per articles but none paid in last 5 years)
Consolidated cash and equivalents 50.65B won, total borrowings 39.92B won, net cash position (net debt -10.73B won)
Major shareholder: New Power Plasma (27.1%); key customer Samsung Display accounts for 93.5% of revenue (mobile display segment)