Samwha Electronics Q1 2026: Continued Losses, Deteriorating Financials, Going Concern Uncertainty

Consolidated revenue fell 27% YoY to KRW 5.95B, operating loss of KRW 2.15B, net loss of KRW 2.11B.
Debt ratio surged to 244% (from 207% at year-end), net debt ratio 138% (from 112%).
Current liabilities exceeded current assets by KRW 27.4B; accumulated deficit reached KRW 66.2B.
Auditor's report highlights "material uncertainty related to going concern."
Credit rating remains low at B- (NICE D&B).
No shareholder returns (no share buyback, no dividends).
R&D spending of KRW 120M (2.02% of sales) for new product development.