Hands Corporation Q1: Operating Loss 9.0B, Net Loss 32.2B...Losses Continue, Financial Deterioration

Consolidated Q1 2026 revenue 180.5B won, operating loss 9.0B won, net loss 32.2B won (FY2025 operating loss 38.7B won)
Total liabilities 674.4B won, equity 64.6B won; debt-to-equity ratio 1,044%; retained earnings -196.1B won, severe capital erosion
Credit rating downgraded for 5 consecutive years (BBB0→B+), now at B+ (lowest)
Subsidiaries HANDS 8 S.A. and Hands 6 received 'adverse' and 'disclaimer of opinion' audit opinions, undermining financial credibility
Going concern uncertainty; despite large supply contracts, profitability improvement insufficient