Message from Chief Executive Officer

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Dear Shareholders,

The year 2024 continues to present challenges for the Thai economy. Although GDP growth has increased to 2.5%, up from 2.0% in 2023, the construction and real estate sectors remain impacted by several key factors, including:

• Persistently High Interest Rates The Bank of Thailands monetary policy remains tight to control inflation, leading to increased financing costs for real estate developers and construction businesses. Additionally, high interest rates affect consumer purchasing power, particularly for those seeking housing loans.
• Global Economic Uncertainty The slowdown of Chinas economy, one of Thailands key trade partners, has led to a decline in foreign direct investment (FDI) and exports, impacting investor and consumer confidence.
• Delays in Public Sector Investments Certain infrastructure projects funded by the government have been delayed, reducing capital circulation within the construction industry. This has resulted in a slowdown in the building materials market and some real estate development projects.

Despite these challenges, the company remains committed to adapting its strategies to align with market changes. We continue to drive Sustainable Growth, focusing on three key pillars:

1. Infrastructure Development We have invested in expanding and upgrading our branches, enhancing showroom experiences, and launching new products that meet market demands.

2. Skills Development We are strengthening our internal training programs to enhance the skills of our employees across all levels, from sales teams to operations and management, ensuring they can adapt effectively to industry changes.

3. Fiscal Stability We are prioritizing cost efficiency while investing in clean energy solutions to reduce long-term expenses and enhance our competitive advantage.

Although economic and industry challenges persist, the company remains committed to a stable and high-potential growth strategy. We continue to reinforce our financial foundation through efficient cost management and the expansion of new revenue streams, such as higher-value products and an optimized sales network, which drive consistent and sustainable revenue growth.

We also recognize the importance of delivering strong returns to our shareholders. Our strategy focuses on continuously improving gross profit margins by developing premium product lines and expanding into the mid-to-high-end market segment, where demand remains strong. Additionally, the integration of AI and digital technology into our operations and sales processes enhances efficiency, reduces costs, and strengthens our long-term competitiveness.

With these strategic initiatives in place, we are confident that the company will continue to generate stable and sustained returns, reinforcing investor confidence and driving long-term sustainable growth.

We sincerely appreciate the continued trust and support of our valued shareholders.

Sincerely,



Mr. Maruth Saengsastra

Chief Executive Officer