SungEel HiTech's Q1 2026 operating loss narrows to KRW 4M; issues new shares worth KRW 45B, but debt ratio remains high at 454%

Consolidated revenue: KRW 60.9B (up YoY; annualized exceeds FY2025's KRW 194.6B).
Operating loss: KRW 4M, near break-even (vs. KRW 54.5B loss in FY2025).
Net loss: KRW 22.8B (due to non-cash derivative valuation loss of KRW 29.5B).
Debt ratio: 454.43% (up from 367.58% at end of FY2025). Total borrowings: KRW 432.2B.
Derivative liabilities: KRW 70.1B (from CB conversion rights); derivative assets: KRW 12.6B (call options). 1% rate hike would increase interest expense by KRW 2.5B.
Hungarian subsidiary lost first-instance lawsuits; provisions recognized: KRW 1.0B.
Debt guarantees for subsidiaries: total KRW 106.9B.
Post-period: third-party allotment of 648,414 shares at KRW 69,400/share (KRW 45B) completed.
Equity conversion of USD 12M loan to US subsidiary; capital increase of EUR 5M for Hungarian subsidiary resolved.