Toprun Total Solution: Q1 26 Operating Loss and Major Fundraising
In Feb 2026, decided to raise approx. KRW 40bn via rights issue (RCPS 2,495,500 shares, KRW 12.5bn), convertible bonds (KRW 20bn), and perpetual convertible bonds (KRW 7.5bn).
Consolidated Q1 2026 operating loss of KRW 4.85bn, net loss of KRW 6.66bn (swing to deficit YoY).
Debt ratio rose to 195.01% from 187.27% at year-end 2025.
New subsidiaries consolidated: Toprun AP Solution (OLED equipment, 55% stake) and Toprun Material Solution (OLED material, 74.57% stake).
Credit rating maintained at BBB- (NICE D&B).
Dividend policy targets 10% of net income; share buybacks considered (no dividend for the quarter).