External auditor issued a going-concern uncertainty opinion denial, leading to a formal delisting reason (improvement period until April 10, 2027; trading suspended)
Net debt ratio surged to 100.88% (from 73.37% at year-end), total liabilities 27.76bn vs equity 27.07bn, near capital impairment
Issued 4.5bn won of 21st convertible bonds, then fully repaid due to event of default; liquidity crisis
Subsidiaries HYSONIC Philippines etc. have negative equity (-2.29bn won), KEM Tech America recorded net loss of 546mn won
Large lawsuits: bankruptcy claim of 123bn won, unjust enrichment lawsuit of 476mn won pending