STX posts Q1 consolidated net loss of 44.6bn won, negative equity; rehabilitation proceedings commenced

Consolidated: revenue 59.97bn won, operating loss 9.87bn, net loss 44.61bn (controlling 44.13bn), EPS -1,424 won.
Balance sheet: assets 436.61bn, liabilities 530.42bn, equity -93.81bn (deficit). Current liabilities 486.82bn exceed current assets 188.99bn.
Separate: revenue 15.96bn, operating loss 8.67bn, net loss 43.62bn.
Rehabilitation: proceedings commenced on Apr 6, 2026; pre-petition M&A ongoing with high uncertainty.
Audit opinion: disclaimer (going concern uncertainty).
Regulatory penalty: 2.01bn won fine for accounting violations.
Litigation: multiple pending suits including guarantee for STX Marine Service (7bn won claim by Iraq MoE).
Contingent liability: Ambatovy nickel project long-term receivables 29.52bn won, allowance 27.9bn.
No shareholder return.