KC Green Holdings Faces Delisting Risk Due to Adverse Audit Opinion and Going Concern Uncertainty

Delisting risk due to adverse audit opinions on consolidated financial statements for 2024 and 2025; review scheduled for May 26, 2026
Going concern uncertainty exists; workout underway (agreement with Hana Bank for business improvement)
Consolidated operating loss of KRW 1.07 billion for the quarter; separate operating profit of KRW 1.37 billion (holding company)
Debt ratio 49.38% (consolidated); current liabilities exceed current assets (separate: KRW 18 billion)
Subsidiary KC Glass Co., Ltd. under rehabilitation; KC Environmental Development Co., Ltd. and KC Green Energy Co., Ltd. filed for bankruptcy
Two ongoing lawsuits (claim for payment, total KRW 8.8 billion)
Bank loans and guarantees of KRW 223.9 billion; convertible bonds of KRW 11.3 billion (conversion price: KRW 2,114)
No dividend or share buyback/cancellation plans