Tway Holdings Reports Massive Net Loss in Q1 2026 Due to Financial Asset Impairment

Net loss of KRW 36.4 billion (2.6x wider than prior quarter's loss of KRW 14.1 billion)
Impairment loss on FVTPL financial assets of KRW 36.6 billion (mainly from drop in value of Trinity Aviation stake)
Operating loss of KRW 0.3 billion (revenue KRW 1.1 billion, slightly decreased QoQ)
Debt ratio 42.5% (up from 26.5% at year-end 2025)
Total equity KRW 57.8 billion (down 38.7% from KRW 94.2 billion at year-end)
Accumulated deficit of KRW 236.5 billion
Contingent liabilities: 6 bid-rigging lawsuits totaling ~KRW 22.3 billion (provision of KRW 0.8 billion booked)
Guarantees for affiliate Trinity Aviation: financial guarantee KRW 1.0 billion, debt guarantee KRW 65.4 billion (USD 43.2 million)
Subsequent event on Apr 22, 2026: 5:1 reverse stock split to cover deficit and improve capital structure
Treasury shares: 509 shares, no specific cancellation plan