MCNEX Q1 2026: Revenue Down, but Dividend Up and Net Cash Maintained

Q1 2026 consolidated revenue KRW 303.5B (down 12.8% YoY), operating profit KRW 11.4B (down 45.5% YoY), net income KRW 14.6B (down 27.2% YoY)
DPS increased 25% to KRW 1,000 (from KRW 800), 8th consecutive dividend year; total dividend KRW 16.2B
Net cash position of KRW 26.0B (net debt -KRW 25.96B), debt-to-equity ratio 53.94%
High customer concentration: Samsung Electronics accounts for ~60% of revenue (KRW 181.97B)
R&D expense KRW 9.9B (3.27% of revenue), continued investment in ADAS, autonomous driving, OIS technologies
Treasury shares: 1,178,428 shares (6.77%), 22,000 shares disposed via stock option exercise in Q1
India subsidiary established for automotive camera production