Taekyung Chemical Q1 2026: Operating Loss and Credit Downgrade

Consolidated sales KRW 13.96B (down 11.5% YoY)
Consolidated operating loss KRW 0.65B (vs profit of KRW 1.05B in prior year)
Consolidated net profit KRW 1.73B (down 22.8% YoY from KRW 2.24B), EPS KRW 149
Credit rating downgraded for 2 consecutive years: A+ (2024) → A (2025) → A- (2026)
Cash dividend KRW 180 per share declared (total KRW 2.09B)
Borrowings KRW 40B (facility loan from Shinhan Bank, secured by shares of Lion Chemtech)
Guarantees for affiliates KRW 24B (Taekyung SBC KRW 18B, Taekyung Industry KRW 6B)
Net profit sustained by non-operating income (dividends KRW 1.7B), core business weakness deepening