Ark Solutions: Continued Operating Loss in Q1 2026 and Delisting Risk

Delisting decision followed by injunction lawsuit; prosecution and tax investigation resulting in 1.2 billion won penalty
Q1 2026 consolidated revenue: 7.39 billion won, operating loss: 0.95 billion won, net loss: 1.04 billion won (loss narrowed from 1.89 billion won in prior year)
Debt ratio: 59.66% (improved from 63.52% at year-end 2025), cash: 4.67 billion won, short-term borrowings: 6.73 billion won
Accumulated deficit: 16.48 billion won; not in capital impairment
Repeated changes in CEO and largest shareholder, management instability
Prior accounting violations led to restatement of financial statements and regulatory sanctions