KUKYOUNG G&M Swings to Operating Loss in Q1 2026, Disposes All Treasury Shares

Sales: 10.98bn won, down 23.86% YoY
Operating loss: 1.76bn won (vs profit of 0.18bn won in Q1 2025)
Net loss: 0.59bn won (vs net profit of 0.32bn won)
Disposed all 1,000,000 treasury shares via OTC sale (gain of 0.61bn won transferred to capital surplus)
Net debt: 5.65bn won (net cash of 0.26bn won at end of 2025 → turned to net debt)
Debt ratio 27.29%, equity ratio 72.71% (sound financial structure)
R&D expenses: 0.28bn won (vs 1.08bn won in prior period); continued R&D in special glass for defense and railway
Credit rating: BBB- (cash flow rating A) from Ecredible
Major customer Hanwha: 10.48% of sales (vs 17.90% in prior period)
No pending litigation at quarter-end