Genic Q1 2026 sales surge 64.7% but operating profit declines, trade receivables triple

Revenue 29.36bn KRW (+64.7% YoY), operating profit 3.41bn KRW (-9.3%), net profit 3.48bn KRW (-1.1%)
Trade receivables 20.49bn KRW (3.3x increase from 6.2bn at year-end 2025), operating cash flow -5.54bn KRW
Debt ratio 50.14% (up from 37.73% at year-end 2025), current ratio 195.2% (down from 237.3%)
Zero borrowings and bonds, 5bn KRW short-term loan facility (undrawn)
6bn KRW loan guarantee from related party (Soulbrain Holdings)
Treasury shares 143,994 shares (1.81%), no separate shareholder return policy disclosed
R&D expense 415m KRW (1.41% of revenue)