Improved Financial Health and Governance via Management Improvement Plan

Purpose: Implement management improvement plan to enhance business continuity, profitability, financial liquidity/soundness, and management transparency/stability
Business performance: Exceeded sales and operating profit targets through sales structure improvement and profitability-focused management
Financial indicators: Increased current ratio, decreased debt ratio; collected loans to other corporations; completed paid-in capital increase of KRW 15bn (Dukyang Energyzen KRW 7.5bn, Wolf KRW 7.5bn) → secured financial soundness
Change of largest shareholder: Changed to Dukyang Energyzen/Wolf consortium via public sale on May 11, 2025
Management change: Appointed new executives, previous directors resigned
Established Transparency Management Committee and Audit Committee
Embezzlement: Recovered KRW 3.82bn in illegal attempted funds (offset completed)
Future plans: Restore external credibility, pursue growth and profitability; largest shareholder's shares under 3-year escrow (in progress) and 5-year joint holding commitment; civil lawsuits for embezzlement/breach of trust, etc.