Samjin Q1 2026: Revenue & Net Profit Down, Sound Financial Structure

Consolidated revenue in Q1 2026: 35.5 billion KRW, down 12.6% YoY from 40.6 billion
Net profit attributable to parent: 2.2 billion KRW, down 15.5% YoY from 2.6 billion
Basic EPS: 245 won (vs 290 won in Q1 2025)
Debt ratio: 14.34% (vs 16.12% at end-2025), no borrowings, stable financials
Cash and cash equivalents: 23.8 billion KRW
Major customer Samsung Electronics accounts for over 85% of sales (concentration risk)
Subsidiaries in China, Thailand, Korea reported net losses; Indonesian subsidiary profitable
FX risk: 10% change in USD/KRW impacts profit by ~4.2 billion KRW
R&D expenses: 0.96 billion KRW (2.7% of revenue)