Shinwha Dynamics Reports Operating Loss and Net Loss in Q1 2026
Q1 2026 revenue KRW 27.7bn (vs. KRW 29.2bn a year ago, -5.0%), operating loss KRW 1.59bn (vs. operating profit KRW 0.75bn), net loss KRW 0.75bn (vs. net profit KRW 0.67bn)
Debt ratio 60% (end-2025: 45%) increased, net debt ratio improved to 6%, but total borrowings increased to KRW 145.2bn (end-2025: KRW 100bn), interest expense KRW 0.77bn
New facility borrowings of KRW 3.52bn, construction in progress KRW 5.19bn indicating ongoing investment
No share buyback/cancellation plan, dividends based on year-end (no dividend this quarter)
Profitability worsened due to raw material price increase and production volume decline (-4.05%), utilization rate 65.6% (vs. 71.1% a year ago)
Allowance for doubtful accounts KRW 1.10bn (vs. KRW 2.21bn), no contingent liabilities from lawsuits