Joongang Advanced Materials Q1 2026: Operating Loss Widens, Net Loss Narrows on Financial Gains
Consolidated sales KRW 2.3bn (vs KRW 3.3bn in prior year -30%), operating loss KRW 2.3bn (widened from KRW 1.6bn loss)
Financial gains (equity valuation/disposal etc.) of KRW 3.6bn resulted in consolidated net loss of KRW 0.1bn (down from KRW 2.0bn loss), separate net profit of KRW 1.0bn
Net debt ratio 6.88% (consolidated), cash + cash equivalents KRW 16.5bn (up 99% from KRW 8.3bn at year-end)
Top shareholder changed to Enchem in Jan 2026; frequent changes
Guarantee of KRW 12bn for joint venture EDL (contingent liability risk)
Loans to related parties of KRW 25.4bn, with collateral