Chokwang Paint: Q1 2026 Consolidated Operating Loss of 6.2B KRW, Separate Net Profit Positive Due to Dividend Income

Q1 2026 consolidated revenue 46.4B KRW (down 5.4% YoY), operating loss 6.2B KRW, net loss 4.6B KRW
Separate operating loss 4.5B KRW, but net profit 5.2B KRW due to non-operating income including 10B KRW dividend from JV Chokwang Yoton
Subsidiary CK EM Solution continues to post losses (operating loss 1.8B KRW); thermal interface materials business still in early stage
R&D expense 2.1B KRW (4.74% of sales), 85 patents held
Maintained dividend of 200 won per share for 59th fiscal year (total approx. 2.6B KRW)
Outstanding convertible bonds (1.2B KRW) and exchangeable bonds (12B KRW); treasury stock 20.04% (pledged for exchangeable bonds)
Short-term borrowings increased (44.6B→55.2B KRW), collateral assets 182B KRW
Paint market share slightly declined to 4.0% (previous year 4.1%)
Continued development of eco-friendly, bio-based paints and secondary battery materials