Chonbang Q1: Operating Loss Continues, Net Profit Declines; Share Buyback Plan to Be Established

Q1 consolidated sales: KRW 7.9B (down 38% YoY from KRW 12.8B)
Consolidated operating loss: KRW 0.9B (improved from KRW 1.1B loss in prior year)
Consolidated net profit: KRW 0.8B (significantly down from KRW 33.1B due to reversal of loan loss provisions in prior year)
Debt ratio: 4.03%, very healthy financial position
Cash & equivalents: KRW 22.1B; short-term financial instruments: KRW 65.0B
Cash dividend of KRW 1,000 per share for FY78 (yield ~3%)
Treasury shares: 540,530 shares (32.17%); plan to establish share buyback/cancellation program following charter amendment
Related party loans: KRW 31.8B (collateralized); allowance for bad debts: KRW 6.1B
Main plant (Pyeongdong) operating at 94.3% capacity; other plants shut down
No pending lawsuits; no material contingent liabilities