CG MedTech Q1 Consolidated Operating Profit Turns Black at KRW 239M, but Operating Cash Flow Remains Negative

Consolidated Q1 2026 revenue KRW 13.0B (up 10.9% YoY), operating profit KRW 239M (vs loss KRW 593M), net income KRW 615M
Separate revenue KRW 8.4B, operating profit KRW 754M, net income KRW 1.36B
Debt ratio 32.89% (up from 23.55% at year-end), long-term borrowings increased by KRW 11.3B (including new KRW 10.5B loan from KDB)
Operating cash flow negative KRW 3.2B (inventory valuation loss KRW 700M, decrease in accounts payable, etc.)
Medical device segment revenue KRW 9.8B (75% of total), electric energy segment KRW 3.3B (25%)
Acquired 90% stake in subsidiary Solendos (Feb 2026), consolidated
Post-reporting period acquired human tissue processing bank in Seongnam for KRW 2.37B
No dividend for the quarter (no dividends paid in past 5 years)
Completed merger with subsidiary GDS in 2025 (zero-stock merger)
China Resomet clinical trial completed; preparing NMPA application