Finetek Q1 Operating Loss Widens; Sales Decline and Losses Continue, No Dividend

Consolidated Q1 2026 revenue: 9.9B KRW (down 10.6% YoY from 11.1B), operating loss 2.7B KRW (vs 0.6B loss in Q1 2025), net loss 1.4B KRW.
Debt ratio 191.7%, retained earnings -72.8B KRW, no capacity for dividends.
Top customer concentration: 73.98% of sales, allowance for doubtful accounts on receivables at 44%.
New businesses (quantum sensing, food-tech robotics) yet to generate revenue; secondary battery equipment sales dropped sharply.
No share buyback, cancellation, or dividend plans.
Three consolidated subsidiaries have negative equity.