L&C BIO Swings to Profit in Q1 2026, 45bn Won CB Conversion Requested
Consolidated Q1 2026: revenue 30.3bn won, operating profit 6.0bn won (vs loss in Q1 2025), net profit 2.7bn won (vs loss 0.6bn won). Successful turnaround.
Separate: revenue 23.8bn won, operating profit 6.5bn won, net profit 3.3bn won (vs 0.66bn in Q1 2025).
Conversion right exercised on 45bn won of 3rd CB (conversion price 21,200 won) on Apr 23, 2026. 2,122,641 new shares to be listed May 15, 2026. Remaining CB: 15bn won.
Main product: human tissue grafts (86.3% of sales, 20.5bn won). Chinese subsidiary L&C China fully acquired.