ASTech Swings to Q1 Loss; Concurrent Fundraising, Dividend, and Share Buyback

Q1 2026 revenue 4,558.1mn KRW, operating loss 1,734.5mn KRW, net loss 1,884.3mn KRW (vs Q1 2025 revenue 6,204.5mn KRW, net profit 1,180.3mn KRW).
Raised ~16.5bn KRW via third-party rights issue in Jan 2026 (787,208 new shares; capital increase 394mn KRW, share premium 16.1bn KRW).
Debt-to-equity ratio improved from 83.2% to 68.3%; cash equivalents increased from 4.8bn to 9.9bn KRW.
UV filter raw material production utilization plummeted to 7.51% (FY2025: 52.52%), inventory build-up.
Declared 2025 year-end dividend (accrued dividends 3.2bn KRW) and board resolution in March 2026 to cancel treasury shares.
Remaining 40bn KRW investment in 2nd plant machinery (37.8bn already spent out of total 77.8bn).
Major shareholders: CEO Yoon Jong-bae 43.57%, new investor Firmenich Trading 12.22%.