SP SAMHWA: Q1 2026 Operating Profit Declines, Debt Ratio Increases

Consolidated Q1 2026: Revenue 144.3B KRW, Operating profit 1.8B, Net income 3.0B (controlling 2.9B)
Operating profit decline vs. prior year quarterly average of 2.4B
Debt ratio 89.1% (up from 82.3% at year-end 2025)
Largest shareholder change: Kim Hyun-jung inherited from Kim Jang-yeon (stake 25.8%)
Name change: Samhwa Paints Industrial → SP SAMHWA (Mar 26, 2026)
Raw material price hikes and supply chain uncertainty pressure margins
R&D: 4.2B KRW (3.4% of sales)
FY2025 cash dividend: 350 won per share (9.5B total)
Lawsuits: 11 plaintiff cases (1.37B), 1 defendant case (0.22B) – not material
No share buyback or cancellation