Message from Chief Executive Officer

Dear Shareholders,

The year 2025 marked another challenging period for Thailand’s construction materials industry, which continued to face significant pressure from intense competition particularly from imported products competing primarily on price. This was compounded by an economic recovery that remained below full potential and increasingly cautious consumer purchasing behavior. In such an environment, the Company chose not to remain defensive. Instead, we elected to elevate our product structure, technological capabilities, and organizational capacity in order to build sustainable competitive advantages and reinforce our leadership in Thailand’s tile industry.

Elevating Our Product Portfolio to Systematically Cover All Market Segments.

In 2025, the Company comprehensively restructured its product strategy, clearly positioning offerings across the lower, mid, and upper market segments. This strategic alignment enables us to expand market share while simultaneously enhancing the quality of earnings.

• Lower Segment – Maintain disciplined price competitiveness under strict cost control, without compromising product quality standards.

• Mid Segment – Expand design variety, sizes, and surface finishes to better serve residential projects and contractors seeking both value and differentiation.

• Upper Segment – Drive premium products that generate higher value-added returns, reflecting superior quality, advanced manufacturing technology, and a strong brand image.

A key milestone this year was the development and launch of our new generation of granite tile products, which significantly elevate manufacturing standards in terms of strength, durability, dimensional precision, and pattern clarity. These advancements clearly position our products to compete effectively with imports.

The Company does not compete on low pricing alone. We compete on quality, standards, and long-term reliability. We firmly believe that domestically manufactured products can stand strong in the marketplace when supported by serious and continuous development.

Leveraging Technology and AI as Strategic Infrastructure

In 2025, the Company accelerated its transformation toward becoming a data-driven organization. Artificial Intelligence (AI) and advanced analytics have been deployed at both operational and strategic levels, including:

• Sales trend analysis and predictive product management

• Inventory optimization and reduction of excess stock

• Empowering the sales team with actionable insights to improve conversion rates

Technology is not merely a support function; it is a long-term competitive infrastructure for the organization.

Investing in People to Compete in an Intensifying Market

Competition today is determined not only by products, but also by the capability of the team behind them. The Company has therefore invested in enhancing workforce competencies at all levels—particularly in digital skills, data analytics, and consultative selling.

We believe that a resilient organization is built upon: Strong Products + Strong Systems + Strong People Although market conditions remain challenging, the Company’s direction is clear. We will continue to develop competitive products across all segments, strengthen our ability to compete with imported goods, leverage technology as a growth foundation, and invest continuously in our people. Our objective is not short-term growth, but growth that is disciplined, resilient, and sustainable.

On behalf of the management team, I would like to express my sincere appreciation to all shareholders for your continued support and trust in the Company.

Sincerely,



Mr. Maruth Saengsastra

Chief Executive Officer