Daesan F&B: Q1 2026 Operating Profit Turns Positive, but Delisting Risk Remains

Q1 2026 consolidated sales: 25.3 billion KRW (up 5.5% YoY). Operating profit: 1.4 billion KRW (vs. loss of 0.5 billion KRW in prior-year period). Net profit: 1.4 billion KRW (vs. loss of 1.2 billion KRW).
Operating cash flow negative at -1.4 billion KRW; cash and cash equivalents only 0.23 billion KRW.
Debt ratio 49.89% (consolidated); net debt 12.85 billion KRW. Convertible bonds of 3.6 billion KRW classified as current.
Assets held for sale (land and buildings) of 5.49 billion KRW sold on April 30, 2026 for 6.5 billion KRW, expected to improve liquidity.
Ongoing eligibility review for listing maintenance; improvement period until June 2, 2026; trading suspension continues.
Criminal lawsuit for breach of trust/embezzlement against former CEO and others (claim amount 3.82 billion KRW; 3.5 billion KRW already returned).
Stock consolidation (10:1) executed on April 10, 2026; capital reduced by 500 KRW.
No dividends or share buybacks.