Rehabilitation Plan Approval Improves Financial Structure, Uncertainty Remains
Rehabilitation plan approved by Suwon Bankruptcy Court on March 20, 2026
Debt-to-equity swap of 22,479 million won at 100 won per share, 6:1 stock consolidation, and issuance of 165 million new shares via third-party allocation
Resolved capital impairment: consolidated equity from -22,525 million won to +23,828 million won
Change in largest shareholder to Haemily Co., Ltd. (48.77%)
Continued operating loss: consolidated operating loss of 1,300 million won in Q1 2026
Recorded net profit of 24,689 million won due to debt forgiveness gain of 26,018 million won