Chairman’s Statement

Dear shareholders and stakeholders

Since the beginning of the year 2023, global economic expansion has continued to slow down consistently. This comes after the majority of central banks accelerated interest rates to combat inflation. While the opening of China's borders was initially seen as a hopeful sign that could contribute to a more robust global economic recovery post-COVID-19, the current economic recovery in China remains gradual. Despite the ongoing challenges faced by companies throughout the year, close monitoring and continuous assessment of the situation have enabled the company to adapt and operate within the changing economic environment. We have diligently adjusted our strategies to navigate the unavoidable impacts on business operations. Although various challenges persist, we remain committed to adapting and thriving in the evolving economic landscape.

In the business plan for the year 2024, the company is steadfast in its commitment to continuous market expansion. Our primary objective is to maintain our position as a leading global producer and distributor of elastic rubber threads, capable of rapidly manufacturing a wide range of products to meet various usage requirements. We leverage competitive advantages in sourcing high-quality and abundant natural rubber resources, emphasizing stringent cost management measures. Our focus remains on enhancing efficiency, developing value-added strategies to sustain a consistent cash flow, and optimizing production through the implementation of automated systems and various technologies to reduce costs and minimize dependence on manual labor in the manufacturing process. Additionally, we plan to strengthen our sales channels, expanding into different regions and increasing market share. Brand awareness will be heightened by diversifying our product offerings. These initiatives aim to reach the company's profit targets and establish a stronger presence in the market.

The company would like to express sincere gratitude to our shareholders, customers, business partners, and all stakeholders for their trust and continuous support in the company's business endeavors. We extend our appreciation to the management team and all employees for their dedication and capability in fulfilling their duties to the company. Please rest assured that the Board of Directors, management, and staff of the company are committed to carrying out their responsibilities with consciousness and accountability. It is our firm belief that through our collective efforts, the company will achieve sustained success and growth in its business operations.

(Mr. Chawalit Tiyadechachai)

Chief Executive Officer