S-CHEM Q1 2026: Return to Profit, Improved Financial Structure and Credit Rating Upgrade

Q1 2026 revenue 6,665 million KRW (+29.8% YoY), operating profit 302 million (turnaround), net profit 488 million (+5.0% YoY)
Debt ratio 0.9%, virtually debt-free; cash and equivalents 4.09 billion KRW (+90.2%)
Credit rating upgraded from CCC to BB (April 2025, Nice Credit Rating)
OLED capacity utilization at low 21.1%, but 4 billion KRW investment in production facility upgrade ongoing
R&D expenditure 819 million KRW (12.0% of revenue), securing technology in OLED and healthcare materials
Largest shareholder stake stable at 17.13%; related-party transactions of 1.58 billion KRW (raw material purchases)
No dividend or share buyback plans; minor fines of 2.86 million KRW and no other contingent liabilities