PharmaResearch Q1 2026 Strong Results, Dividend Payout Target 25%+ and Share Buyback Cancellation

Q1 2026 consolidated revenue KRW 146.1bn (+52.8% YoY), operating profit KRW 57.3bn (margin 39.2%), controlling net profit KRW 47.6bn (margin 32.6%), maintaining high growth.
Completed cancellation of 119,952 treasury shares in June 2025 (retirement of shares) as shareholder return.
Established formal dividend policy targeting payout ratio of 25%+ of consolidated controlling net income from 2025.
Cash and financial assets of KRW 663.5bn vs interest-bearing debt of KRW 211.4bn, resulting in net cash of KRW 452.1bn; very sound financial structure.
Subsidiary PharmaResearch Bio faces two ongoing administrative lawsuits related to botulinum toxin (lost first instance, appeals ongoing), a potential risk.
Consolidated R&D investment of KRW 10.2bn (7.0% of revenue), holding 107 patents (37 domestic, 70 overseas) strengthening technological edge.