HANSUN Engineering: Q1 Operating Profit Surges to KRW 6.2B, Net Loss Due to Derivative Loss, Debt Ratio Improves to 70%

Q1 2026 revenue KRW 22.4B (up 71% YoY), operating profit KRW 6.2B (up 377% YoY)
Net loss of KRW 5.1B due to non-cash derivative valuation loss of KRW 18B
Capital increased by KRW 27.4B from CB conversion, debt ratio improved from 106% to 70%
3rd CB outstanding KRW 6.3B (issued KRW 21B), conversion price adjusted to KRW 8,287
Correction in quarterly report: stock option exercise amount revised (KRW 1.02B → KRW 0.036B)
Construction-in-progress KRW 50.8B (new plant), borrowings KRW 38.6B, collateral provided KRW 48.4B
Credit rating BB+ (Ecreditable), cash flow rating B