Naintech, Q1 2026 Operating Profit Turns Positive and New Business Initiatives

Consolidated Q1 2026 revenue: 19.79 billion KRW (up 24.5% YoY), operating profit 1.47 billion KRW (swing to profit), net profit 0.81 billion KRW
Recovery from 2025 annual net loss of 17.42 billion KRW. Debt ratio 17.44% stable
New businesses: rare earth recycling (Yeonhwa), MXene electrodes, thermoelectric elements, glass substrate equipment development
High customer concentration (top customer 71.9% of revenue). Risks: order backlog, FX fluctuation
Credit rating BB+ maintained. No share buyback/dividend