Cammsys reports Q1 2026 operating profit of 6.0bn won turnaround; completes reverse stock split and rights offering

Cammsys consolidated Q1 2026 revenue 173.5bn won, operating profit 6.0bn won (vs loss 11.3bn won prior year period)
Consolidated net profit 4.3bn won (vs loss 18.6bn won), parent net profit 4.4bn won
Debt ratio 255% (improved from 356% at end-2025), borrowings 104.2bn won
Completed 5:1 reverse stock split on Feb 5, 2026, shares reduced from 73.8mn to 14.8mn, used 29.5bn won to reduce deficit
Rights offering on Apr 17, 2026: 14.46mn shares at 1,396 won each, raising 20.2bn won for working capital and debt repayment
Credit rating BB (NICE), speculative elements
97.94% of revenue from Samsung Electronics, extreme customer concentration
Subsidiary Weihai Sanyou Electronics liquidated, China operations closed
R&D expense 1.9bn won (1.11% of revenue), developing AI camera, battery diagnostics, etc.
Inventory 69.0bn won, receivables 49.0bn won, cash 9.0bn won (down from 21.5bn at year-end)