Cosmax 2026 Q1: Consolidated Revenue KRW 682B, Operating Profit KRW 53B

Consolidated revenue KRW 682B, operating profit KRW 53B, net income KRW 43.8B
Debt ratio 232.4% (up from 215.7% at year-end), net debt KRW 1.5T
R&D expense KRW 40.8B (6.0% of sales), continued investment in R&D
Global #1 cosmetics ODM, includes results from overseas subsidiaries in China, US, Southeast Asia
Contingent liabilities from lawsuits: 17 cases as plaintiff (KRW 21.4B), 14 as defendant (KRW 5.8B) - not material
Dividend policy: ~30% of separate net income (no dividend declared for Q1 2026)