Se Gyung Hi Tech Q1 2026: Revenue Growth but Operating Loss; Financial Risks and Accounting Restatements

Consolidated Q1 2026 revenue increased 13% YoY to 61.0 billion KRW, but operating loss of 2.2 billion KRW (vs. operating profit in prior year).
Net profit of 3.1 billion KRW, down 69% from 9.9 billion in Q1 2025; EPS 98 KRW (vs. 279).
Large financial risks: Redeemable convertible preferred stock liability of 22.6 billion and derivative liability of 40.4 billion.
Past accounting errors corrected (restatement of 2023 and 2024 financial statements) undermining reliability.
Credit rating BBB- (from 이크레더블).
New business initiatives (IT device parts, electronic cards) in progress but no revenue yet.
Designated as an "unfaithful disclosure corporation" in July 2025.