Additional share cancellation: 450,000 shares canceled on May 12, 2026 per board resolution on April 23. Total outstanding shares reduced to 28,143,174
Treasury stock ratio 3.31% (945,139 shares). 60,000 additional shares being acquired via trust agreement since March 2026
Credit rating upgraded to A- from BBB+ by eCredible. Cash flow rating maintained at A
Debt ratio improved to 17.06% (from 20.97% at end-2025), continuing financial structure enhancement
R&D expenses increased to KRW 1.15B (2.33% of sales) from KRW 0.74B in Q1 2025
Litigation risk: Partial loss in first instance for compensation claim related to Garakgol reservoir, recognized provision of KRW 256M. Plaintiff appealed, second trial pending
Dividends: No dividends paid in last 5 years. Shareholder returns via share buybacks and cancellations
Key customers: Company A contributed KRW 29.6B (60%), Company B KRW 15.2B (31%) of total sales