INNO INSTRUMENT: Q1 2026 Consol. Operating Loss ₩0.3B, Net Loss ₩1.0B… Debt Ratio 97.6%

Consolidated Q1 2026: Revenue ₩7.93B, Operating Loss ₩0.31B, Net Loss ₩1.00B (vs. Q1 2025: Revenue ₩10.84B, Net Loss ₩4.04B, narrowing loss)
Standalone Q1 2026: Revenue ₩2.69B, Operating Loss ₩0.13B, Net Income ₩0.24B (due to equity method gains)
Debt Ratio: 97.63% (up from 90.64% at FY2025 end)
Trade Receivables Allowance: ₩10.94B (53.2% of gross receivables)
Borrowings: ₩23.14B (secured by Chinese subsidiary assets)
Retained Earnings: -₩30.08B (consolidated)
No dividends or share buybacks
New business: water sports equipment (E-Foil) under development (target mass production 2025)
CEO change: Park Cho-young replaced by GAO FEI (Mar 31, 2026)
Incheon Customs audit ongoing (outcome uncertain)
Related party transaction: consignment production with OnRay Technology (purchases ₩1.46B)