Leaders Cosmetics: Q1 Operating Loss Widens, Going Concern Uncertainty Persists

Consolidated Q1 2026 revenue: 172.5 billion KRW (down 6% YoY), operating loss 23.3 billion (widened from 18.8 billion loss in Q1 2025)
Net loss continued at 19.6 billion KRW; accumulated deficit reaches 390.1 billion
Current liabilities exceed current assets by 16 billion, indicating liquidity risk
Auditor's going concern uncertainty noted (dependent on management's improvement and funding plans)
Credit rating BB- (low)
All treasury stock (765,060 shares) sold, providing temporary cash inflow
Land revaluation increased equity by 336.7 billion but no operational improvement
New stock options for 550,000 shares granted (exercise price 1,531 won) → potential dilution