JEIO Q1 Sales Slump, Operating Loss, Credit Downgrade

Consolidated Q1 2026 sales 7,172 million KRW (down 34.8% YoY)
Operating loss 1,962 million KRW (vs profit of 170 million KRW in Q1 2025)
Net loss 394 million KRW (vs profit of 392 million KRW)
Basic EPS -13 KRW (vs +13 KRW)
Battery materials sales 3,437 million KRW (down 10.5%), Plant engineering sales 3,706 million KRW (down 48.0%)
Credit rating downgraded: BBB- to BB+ or B+
Accumulated deficit widened to 5,024 million KRW
No share buyback, cancellation, or dividend
Two pending lawsuits totaling 1,577 million KRW
R&D expense 825 million KRW (11.5% of sales)