Genoray Swings to Operating Loss in Q1 2026, Net Loss; Shareholder Proposals Rejected
Consolidated Q1 2026 revenue KRW 25.39bn (vs KRW 25.16bn in Q1 2025, +0.9%), operating loss KRW 1.58bn (versus undisclosed operating profit in Q1 2025; full year 2025 operating loss KRW 0.24bn), net loss KRW 0.43bn (vs net profit KRW 0.13bn in Q1 2025).
Consolidated Q1 2026 basic EPS loss KRW 32 (vs basic EPS profit KRW 10 in Q1 2025).
At the 25th AGM on March 27, 2026, management proposals including dividend of KRW 150 per share and partial amendment of articles were passed, while shareholder proposals for KRW 300 dividend, KRW 5bn share buyback, and removal of cumulative voting exclusion were all rejected.
Issued exchangeable bonds on January 30, 2026, exchangeable into 1 million treasury shares (increased capital surplus by KRW 1.51bn).
Consolidated debt ratio at end-Q1 2026: 65.3% (vs 56.7% at end-2025), cash and cash equivalents KRW 11.41bn (vs KRW 13.84bn).
Consolidated Q1 2026 R&D expenses KRW 2.85bn (11.2% of sales), up from KRW 2.76bn in Q1 2025.
Major order: Signed supply contract for OSCAR15 equipment to Brazil and Russia worth approximately KRW 17bn (ongoing as of report date).
Minority shareholder group (Genoray Shareholder Alliance) exercised inspection of shareholder registry and submitted shareholder proposals, all of which were rejected at the AGM.