Rehabilitation procedure commenced and delisting grounds triggered; extremely weak financial condition

Filed for rehabilitation on 2026.3.5, commencement decision on 3.18, trading suspension due to delisting grounds on 3.23
Q1 2026 consolidated sales KRW 45.9bn, operating profit 6.0bn, net profit 5.4bn (vs prior year Q1: sales 10.7bn, operating profit 0.2bn, net loss 2.3bn) – driven by one-off completed building sales (45.3bn)
Consolidated debt-to-equity ratio 695%, net borrowing ratio 294% (separate: 1,279%, 420%); extremely weak financial structure
Litigation provisions KRW 6.59bn, total provisions 8.44bn; 27 pending lawsuits totaling KRW 15.85bn
Cash crunch led to multiple loan defaults and acceleration; rehabilitation plan submission deadline 2026.8.12
No share buyback/cancellation or dividend related items