Sungchang Autotech: Q1 Sales Slightly Down, Net Profit Stable, Dividend Up

Consolidated sales KRW 56.4B (down 1.7% YoY), operating profit KRW 2.04B (down 20% YoY)
Net profit attributable to parent KRW 2.05B (down 5.6% YoY), EPS KRW 281
FY2025 dividend: KRW 70 per share (vs KRW 50 previous), KRW 0.51B paid in Q1
Net debt ratio 33.03% (vs 21.95% at FY end), net debt KRW 24.7B
Allowance for doubtful accounts KRW 8.9B (vs KRW 7.6B year-end), impairment on related-party receivables increased
R&D expenses KRW 0.44B (up 26% YoY), developing EV and eco-friendly parts
SCA Inc. (US) operating profit KRW 1.83B (up 74% YoY), China subsidiary continues losses