Shareholder return: purchased 930,000 treasury shares (approx. KRW 1B) during the quarter, and the Board resolved on April 28 to cancel treasury shares
Financial health: debt ratio 185.1% (vs 189.5% at year-end, slight improvement), credit rating BB- (speculative grade), high reliance on borrowings
Bad debt expense surged to KRW 900M (vs KRW 58M in Q1 2025, a 15x increase) → negative impact on profitability
Foreign exchange translation gain of KRW 850M contributed to net profit; a 10% change in exchange rates would impact profit by KRW 2.85B
Convertible bonds outstanding of KRW 2.09B (conversion price KRW 1,539), maturing August 2026, potential dilution upon conversion