PS Electronics: Q1 Operating Profit Plunges, but Large Server Contract and Share Buyback Boost Shareholder Value

Large server supply contract signed: USD 69.7M (approx. 82% of prior year consolidated revenue); revenue expected in Q2/Q3 2026.
Share buyback and cancellation: 244,131 shares acquired, 563,174 shares cancelled in Q1. Additional 553,454 shares cancelled after period (Apr 27, 2026).
Consolidated operating profit: KRW 56M (down 97% from KRW 1.95B in prior year period). Net profit: KRW 15.3B (includes non-operating gains such as KRW 18.9B financial asset valuation).
Debt ratio: 77.88% (up from 73.92% at year-end). Short-term borrowings increased to KRW 24.6B (from KRW 18.2B).
Post-period: issued KRW 22.0B exchangeable bonds (exchangeable into listed shares held).
Inventory: KRW 54.2B (up from KRW 42.4B at year-end).
Separate: operating profit KRW 816M (up from KRW 599M), net profit KRW 15.7B.