Chunbo (27828) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was KRW 40.8 billion, up 14% year-over-year, but operating profit turned to a loss of KRW 3.4 billion and net loss was KRW 9.5 billion.

• Electronic materials and secondary battery materials segments saw revenue growth, but profitability was pressured by higher costs and increased R&D expenses.

• The company maintains a strong market position in LCD etchant additives and lithium battery electrolytes, with ongoing investments in capacity and technology.

Financial highlights

• Q1 2026 consolidated revenue: KRW 40.8 billion (+14% YoY); operating loss: KRW 3.4 billion (vs. profit last year); net loss: KRW 9.5 billion.

• Gross margin turned negative due to higher cost of sales (KRW 41.9 billion) exceeding revenue.

• Cash and cash equivalents at quarter-end: KRW 18.3 billion; total assets: KRW 840.1 billion.

• R&D expenses for Q1: KRW 713 million, representing 1.75% of sales.

Outlook and guidance

• The company continues to expand production capacity for battery materials and electronic chemicals.

• Management is focused on cost control and margin recovery, with ongoing investments in R&D and new process technologies.