Message From Chairman

Message From Chairman of the Board and Executive Chairman

Dear Shareholders,

In the past year of 2024, Thailands economic situation remained sluggish, unable to recover or grow to its full potential. Additionally, global trade has significantly slowed down, with concerns arising over trade barriers and increasing tariffs. These factors have created an environment that has not been conducive to business expansion in Thailand. Moreover, the rapid development and transformation of technology have begun to profoundly impact both businesses and daily life. Many industries have faced stagnation and struggled to adapt, which has led to increased unemployment rates, employment issues, and a significant reduction in household incomes. Both organizations and consumers have been cautious in their spending, leading to a slower-than-expected market growth overall. Consumers have increasingly turned to online marketing channels, which are convenient, fast, and reasonably priced due to intense competition, characteristics typical of the Electronic Commerce market.

The rapid shift in online marketing channels and changes in consumer behavior have impacted the retail business in every aspect, and our company has been no exception. Although we have focused on creating a balance between physical stores and online sales channels, consumer preference for online shopping, which has become highly competitive, comes with significant costs such as marketing expenses, price competition, shipping costs, and service provider fees. This has resulted in a decline in our business performance compared to the previous year, even though we managed to maintain sales and market share at previous levels.

This year, the company has adjusted its marketing strategy by improving and expanding the services offered in our physical stores, sourcing products that can attract and meet customer needs, integrating advanced technologies, and enhancing after-sales service quality. We aim to increase the knowledge and skills of our staff, ensuring they can provide in-depth product information and give clear, accurate advice on the efficiency and capabilities of the products. The goal is to offer customers the maximum benefit and value from our products, as we believe that direct customer engagement through physical stores will be the most effective and efficient approach.

Furthermore, the company will continue its policy of carefully controlling expenses and investments, a strategy that has been consistently followed and well-supported by sound reasoning.

In closing, the Board of Directors and Management would like to express our sincere gratitude to all shareholders, customers, and business partners for their ongoing support and valuable advice to the company. We reaffirm our commitment to operating the business with careful attention, transparency, and business ethics, while also contributing to the economy, society, and environment for sustainable growth and the highest benefit to our customers and shareholders moving forward.