NPX Continues Delisting Crisis: Q1 Operating Loss of 500M Won, Going Concern Uncertainty

Delisting process on hold: After delisting decision in June 2025, appeal and injunction filed; process suspended pending court ruling.
Consolidated Q1 2026 revenue 567M KRW (vs 952M in prior year), operating loss 499M, net loss 477M.
Separate operating loss 508M, net loss 209M (turned to deficit).
Trade receivables allowance 6.81B KRW (86.9% coverage) - severe credit risk.
Going concern uncertainty disclosed: persistent operating losses, recovery plan depends on BBT sales and collection.
No shareholder return (buyback or dividends).
Developed world's first FCBGA Hybrid Package BBT, but limited revenue contribution.