Chinyang Chemical Turns Operating Profit in Q1 2026, Repays 30 Billion Won in Borrowings

Revenue of 5.6 billion won in Q1 2026, operating profit of 117 million won (swing to profit from 740 million loss in prior year Q1)
Debt ratio improved to 47.75% (from 48.40% at year-end 2025)
Fully repaid 20 billion won in related-party borrowings and an additional 10 billion won bank loan (total 30 billion won)
Net income of 34 million won, EPS of 2 won (vs. net loss of 1.26 billion won in prior year Q1)
R&D expenses of 135 million won (2.4% of sales), holds 7 patents for eco-friendly artificial leather (POE, bio-based)
High customer concentration: 89.04% of sales from Kolon Industries
No dividends or share buyback plans announced