SAMHYUN Turns to Operating Loss in Q1... Revenue Down 23%

Consolidated Q1 revenue: 18.76 billion won (down 22.8% YoY from 24.33 billion)
Operating loss of 2.49 billion won (vs operating profit in Q1 2025), net loss of 2.67 billion
Treasury share acquisition: 26,000 shares purchased on market in March 2026 (total treasury shares: 240,959)
R&D expenses: 4.67 billion won (24.9% of revenue), high R&D investment maintained
Convertible bonds: 48.5 billion won outstanding (conversion price 32,672 won), convertible from Oct 2026
Litigation risk: Appeal ongoing for 1.28 billion won claim from Kuklim P&T
Debt ratio: 60.73%, net debt-to-equity ratio: 33.18%