WCP Reports Q1 2026 Operating Loss of KRW 20.5B, Issues KRW 36B Convertible Bonds

Consolidated revenue of KRW 42.8B (up from KRW 27.7B in prior quarter, annualized increase vs FY2025)
Consolidated operating loss of KRW 20.5B (narrowed from KRW 127.6B in FY2025, but still loss-making)
Consolidated net loss of KRW 48.4B (improved from KRW 162.1B in FY2025)
Debt ratio increased to 122.26% from 117.49% at end of FY2025, higher leverage
Cash and cash equivalents at KRW 57.7B (up from KRW 27.0B at end of FY2025)
On April 7, 2026, board resolved to issue KRW 36B in 6th private convertible bonds; payment completed on May 6 (dilution risk)
Hungarian subsidiary WHP reported operating loss of KRW 0.55B, net loss of KRW 0.19B
Responding to EV demand slowdown, pivoting to separators for ESS and LFP batteries
No dividends paid; no share buyback or cancellation plans