KZPC: Q1 Net Profit Surges, Dividend Policy Strengthened
Q1 2026 net profit of KRW 8.52 billion (EPS KRW 541) nearly matches full-year 2025 net profit (KRW 9.30 billion)
At the Mar 19, 2026 AGM, charter amended to 'dividend-first, investment-later'; targeting dividend payout ratio of 40%+ (FY2025 cash dividend of KRW 800 per share)
Management control stabilized under largest shareholder Jericho Partners (34.87%); 2024 tender offer competition resolved
Debt-to-equity ratio of 28.9% indicates very sound financial structure; ample liquidity (cash & equivalents KRW 9.3 billion, short-term investments KRW 35.9 billion)
Large unrealized gains from listed equity investments in Korea Zinc & Youngpoong boost equity to KRW 616.8 billion (FVOCI equity securities KRW 633.2 billion)