[Financial] Cash & equivalents doubled to KRW 28.99bn (end-2025: KRW 14.86bn); net debt decreased to KRW 109.91bn (end-2025: KRW 118.70bn); gearing ratio improved to 35.0% (end-2025: 36.9%).
[Shareholder return] Decided to pay 2025 year-end dividend of KRW 200 per share (total KRW 3.12bn). Maintains consecutive dividend policy.
[Financing] Issued 8th convertible bond of KRW 45bn (Apr 28, 2026) and early redeemed 6th CB of KRW 29.4bn (May 11, 2026), adjusting debt structure.
[Risk] Total borrowings of KRW 138.9bn and financial guarantee liabilities of KRW 47.2bn indicate high debt levels. Some overseas subsidiaries (Hungary, US) continue losses.
[Growth]New business R&D ongoing: mass production of PEM membrane for hydrogen fuel cells, development of e-PTFE membrane. Demand growth for semiconductor and secondary battery components.