RFTech Q1 2026: Operating Loss Widens, Credit Rating Downgraded; Restructuring Underway with Major Shareholder Change

Q1 2026 consolidated operating loss of KRW 7.3bn (vs. loss of 5.5bn a year ago), net loss of KRW 12.8bn (vs. 8.3bn)
Credit rating downgraded to B- (from B) by KCR (Apr 2026)
Change in major shareholder from RFT Standard to Osung Advanced Materials (Mar 27, 2026)
Completed third-party allotment (8,860,011 shares at KRW 1,631) and additional allotment planned (4,291,845 shares)
Sale of key subsidiary RFT Bio (Apr 15, 2026) and deconsolidation
Stock split decision (5:1, par value from KRW 500 to 2,500, effective May 27, 2026)
Merger absorption of EcoVolt Co., Ltd. (ratio 1:0.4053487, merger date Jul 17, 2026)
Weak financial structure: debt ratio 105% (equity 193.4bn, debt 203.6bn)
Convertible bond repayment and adjustment: KRW 22bn repaid, remaining 8bn held
Contingent liabilities: derivative liabilities KRW 23.5bn, put option on affiliate KRW 15.1bn