LiComm Q1 2026: Operating loss of 869M won, net loss of 705M won, loss widens YoY

Q1 2026 results: Revenue 2.7B won (-27% YoY), operating loss 869M won (vs 432M loss in Q1 2025), net loss 705M won (vs 168M loss).
Debt ratio 34.27% (up from 28.82% at FY2025), short-term borrowings 2.36B won (vs 2.0B).
Cash and cash equivalents 319M won (down from 802M), inventories 9.26B won (up from 6.75B).
Credit rating BB (NICE, as of Dec 2025).
No dividends or share buyback/cancellation.
Significant deviation from merger forecast (2025 actual sales 177B vs forecast 676B).