C&R Research Q1 2026: Operating Loss, Debt Ratio Surges
Consolidated Q1 2026 revenue: 14.76 billion won (down 13.4% from Q1 2025), operating loss 0.97 billion (vs operating income 1.38 billion in Q1 2025), net loss attributable to parent 0.32 billion (vs 0.15 billion loss), EPS -6 won
Short-term borrowings: 14.5 billion (up from 6.6 billion at year-end), debt ratio 79.1% (from 58.4%)
Order backlog: 149.4 billion (stable)
No dividend or share buyback in Q1 (first cash dividend decided in 2025)
Reverse stock split (5→1, par value 500 won) scheduled for completion on June 30, 2026
New projects: multinational Phase 3 with Daewoong, partnership with Korea National Enterprise for Clinical Trials