Tongyang Pile Q1 2026 Turns Profitable; Credit Rating Downgrade & Litigation Risks
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Q1 2026: Sales 15.7B KRW, Operating profit 1.0B, Net profit 1.4B, EPS 70 won (turnaround from losses; FY2025 op. loss 4.7B, net loss 7.3B)
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Credit rating downgraded to BB+ (Mar 2026) from BBB (Mar 2025) and BBB+ (Mar 2024) by eCredible
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Debt ratio 5.23%, no borrowings
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Major shareholders: Hanlim Construction 40%, Hanlim Mulsan 20%
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Two pending lawsuits (unjust enrichment 139M, ownership transfer 290M)
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No dividends or share buybacks
KOSDAQ Filing Information
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Filing: Quarterly Report (2026.03)
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Company: TONGYANG PILE (228340)
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Submission: TONGYANG PILE Inc.
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Receipt: 05-15-2026