Dasan Solueta Q1 Sales Decline and Operating Profit Plunge

Q1 2026 revenue: 6,283 million KRW (down 20.6% YoY)
Operating profit: 4 million KRW, near zero (vs. 1,712 million in FY2025)
Net income: 658 million KRW, positive due to non-operating gains (equity method)
Debt ratio: 60.35% (up from 56.52% at year-end)
Total borrowings: 20.1 billion KRW; convertible bonds: 6.13 billion KRW (maturity June 2026)
Related party loans: 1.22 billion KRW; allowance for bad debts: 2.75 billion KRW
R&D expense: 413 million KRW (6.6% of sales); 33 domestic patents, 9 US patents
No share buyback/cancellation or dividend disclosed