SNC

To our esteemed shareholders,

The Reciprocal Tariff measures implemented by the United States against various countries since early 2025 have significantly disrupted the global trade system. Thailand was initially subject to an import tariff of 36%, which was subsequently negotiated down to 19%. This has posed a substantial challenge for Thai businesses, given that 18% of Thailand's exports depend on the U.S. market, along with exports to other countries where Thailand is an integral part of the supply chain. Consequently, the electrical appliance and automotive industries—SNC’s primary markets - faced increased uncertainty. Furthermore, the relocation of production bases by certain industrial groups to Thailand has intensified market competition.

Regarding the 2025 operating results, the Company achieved total sales of 9,614 million Baht, a 10% increase compared to 2024. This growth was driven by higher revenue from the Original Equipment Manufacturer (OEM) business, which offset the decline in the electrical appliance parts segment. Additionally, the Company recognized a gain from the disposal of assets held for sale (land and buildings) amounting to 529 million Baht, resulting in a net profit of 477 million Baht. This marks a significant recovery from the net loss of 92 million Baht in the previous year.

For the 2026 business direction and beyond, the Company remains committed to its core operations, including the OEM business and the manufacturing of components for the electrical appliance and automotive sectors. Simultaneously, our new business ventures are progressing according to plan: the Industrial Estate development has achieved its milestones, and both the Golf Course business and the Municipal Waste-to-Energy Power Plant in Yala are expected to deliver strong performance in terms of revenue and profit. We are also advancing our Industrial Solution business, providing industrial automation and robotics services. This is backed by SNC’s specialized personnel and our extensive experience in successfully developing and implementing these systems within our own facilities.

On behalf of the Board of Directors and the management, I would like to express my sincere gratitude to our shareholders, business partners, and all stakeholders for your continued trust and support.