Celestra: Continued Rehabilitation & Trading Suspension; Capital Impairment & Default
Rehabilitation procedure commenced (2025.09.30): Suwon Bankruptcy Court, liquidation value > going-concern value. Receiver preparing rehabilitation plan via M&A.
Stock trading suspended (2025.04.04~): due to audit opinion disclaimer, listed eligibility review, granted improvement period.
Consolidated equity: -66.6 billion KRW (capital impairment), current liabilities exceed current assets by 19.3 billion.
Q1 2026 consolidated revenue: 24 million KRW, operating loss 0.25 billion, net loss 0.09 billion (sharp decline from prior year).
Default on debts: 2nd convertible bond 12.9 billion, short-term borrowings 2.5 billion, total 15.4 billion KRW. Negotiating with creditors but unresolved.
Allowance for doubtful accounts on trade receivables: 199.1 billion out of 367.2 billion (54%).
Pending litigation: 7 billion payment order dismissed (possible refiling), other lawsuits.