Daewoo E&C publishes corporate governance report... Share cancellation of 4.7M shares, but no dividend and operating loss persist

Daewoo E&C disclosed its corporate governance report as of May 28, 2026. Key contents include compliance with core governance indicators, shareholder rights protection, board composition and operations, and audit activities.
As a shareholder return measure, the company completed the cancellation of 4,715,000 treasury shares (approx. 1.15% of outstanding shares) on March 18, 2026. This contributes to per-share value enhancement.
No dividends have been paid for the past three fiscal years (2023-2025), and no separate shareholder return policy exists. The company is considering establishing a policy based on KRX guidelines.
On a consolidated basis, revenue was KRW 8.054 trillion, operating loss was KRW 815.4 billion, and net loss was KRW 916.1 billion. Financial structure improvement is urgent.
In terms of governance, the company removed the clause excluding cumulative voting and plans to adopt it from September 2026, maintains 83% outside directors, conducts electronic voting, and has active board committees.
Some non-compliance exists: convocation notice provided 21 days before the meeting (not 4 weeks), no annual notification of dividend policy, and internal audit department lacks full independence.
[AI Comprehensive Analysis]The share cancellation is positive for shareholder value, but the large loss and absence of dividends limit immediate shareholder returns. The formulation and implementation of a value-up plan will be key to stock price and trust recovery.