KR Motors Q1 Report: Net Profit Turns Black on Bargain Purchase Gain, but Operating Loss Continues and Debt Ratio Surges

Q1 2026 consolidated revenue KRW 2.56bn (vs 2.94bn a year ago), operating loss of KRW 0.67bn continues
Acquired subsidiary Dinamax (KRW 170bn) recognizing bargain purchase gain of KRW 21.5bn; consolidated net profit KRW 19.38bn (vs net loss a year ago)
Separate operating loss KRW 0.68bn, net loss KRW 2.14bn, accumulated deficit KRW 33.45bn
Debt ratio 156.4% (vs 115.7% at year-end 2025), total borrowings KRW 48.56bn, financial burden including convertible bonds KRW 16.59bn
Going concern uncertainty exists; signed a KRW 20bn limit fund replenishment agreement with major shareholder LVMC
Announced stock consolidation (May 11, 2026); no shareholder return plans such as share buyback or cancellation
R&D continues on EURO5-compliant new models and electric motorcycle BSS business