Message of the Board of Directors

Somboon Advance Technology Public Company Limited has firmly grown for 60 years (“the Company”). The Company has learned along with continuous business development amidst many changes over the ages until now the Company has business restructure to be a holding company, mainly having income by holding shares in other companies. Currently the Company has operated business under the strategic plan to manufacture automotive part and agricultural products and expand to new businesses such as automation system and robot business. In 2022, the Company had joint venture with Taiwanese company and established Somboon Tron Energy Co., Ltd.to manufacture and assembly electric battery and assembly the electric vehicle such as electric bus, electric 3 wheeler, etc

2022 is still a year of recovery from the covid-19 pandemic and there are unfavorable factors for global economic growth, such as the Russia-Ukraine War resulted in higher price of goods and raw material, especially in the energy sector continued to rise including lockdown prevention measurement from China Zero Covid policy, etc. Those problems are the main factor to impact the performance of the Company. The Company shall carefully adjust strategic plan, focus on the cost management and increase effectiveness by transforming the manufacture technology, applying automation system and improvement machinery, in order to save energy, reduce carbon dioxide and use renewable energy.

The Company has changed the operation system in parallel with innovation and technology development to carry forward in the manufacturing automotive part and agricultural machinery business including with the new business concurrently the readiness to human resource development to be “Smart People” to be a good and smart people in compliance with smart culture to keep commitment, create the customer trust, agility, respect to listen, create technology to support “Business Trust” and “Growth society” to develop the community to grow and friendly with the environment and have a better quality of life.

Gross Domestic Product ("GDP") in 2022 grew approximately 2.6%, 1.5% increasing from 2021 and the domestic vehicle production totaled 1.88 million vehicles increasing 11.7% from 2021. The global economy has resulted to slowdown the domestic economy, however, the operating results of the Company in 2022 had income totaled Baht 9,093 million with net profit of Baht 940 million, 1.4% decreasing from 2021.

On this occasion, the Board of Directors would like to thank all shareholders, partners, customers and business partners, including the executives, employees who have always supported the business operations for 60 years. The Company will continuously commit to carefully drive our business with good corporate governance, social and environment responsibility forward sustainable growth.