Nara M&D: Q1 2026 Operating Loss of 2.82bn Won, Credit Rating Downgraded

Consolidated Q1 2026 revenue: 38.3bn won (down 9.5% YoY from 42.3bn)
Operating loss: 2.82bn won (vs. operating profit of 1.33bn in Q1 2025, swung to loss)
Net loss: 3.61bn won (vs. net profit in Q1 2025?)
Credit rating downgraded: NICE BBB→BBB-, 이크레더블 BB+→BB (Apr 2026)
Net debt-to-equity ratio: 35.91% (up from 32.03% at end-2025)
EV battery pack segment operating loss: 3.29bn won (losses continuing)
Treasury shares: 992,645 shares (7.0%)
Cash dividend for FY2025: 90 won per share (approved at Mar 30, 2026 AGM)