Woosung Materials Posts Continued Operating Loss in Q1 2026... Net Debt Reduces and Cash Increases

Consolidated sales of KRW 26.9 billion (down 38% YoY from KRW 43.4 billion)
Consolidated operating loss of KRW 0.8 billion, net loss of KRW 1.8 billion (widened from net loss of KRW 0.6 billion in Q1 2025)
Net debt of KRW 38.1 billion (down from KRW 46.9 billion at year-end 2025), debt ratio 124.4% (improved from 150.3%)
Cash and cash equivalents of KRW 8.8 billion (up from KRW 1.4 billion)
Accumulated deficit of KRW 72.2 billion, total equity of KRW 30.6 billion
Outstanding convertible bonds of KRW 9.8 billion (including 8th series of KRW 2.6 billion)
10:1 reverse stock split effective April 2026 (reducing shares to 15,856,381)
Largest shareholder: WS Co., Ltd. (16.55% stake, 17.53% including related parties)