The global economy continues to experience volatility due to ongoing trade and military conflicts, which have negatively impacted the global business climate. Domestically, the Thai economy remains highly uncertain, hampered by political challenges and issues affecting the grassroots economy. Natural disasters, along with border disputes between Thailand and Cambodia, have affected every sector of the Thai business landscape, contributing to rising household debt levels and declining incomes among the public. Throughout 2025, although the government and the Bank of Thailand continuously implemented economic stimulus measures and provided assistance to alleviate debt burdens, the overall weakness of the economy and the contraction in consumer purchasing power have inevitably impacted the Company's business.

The year 2025 was another year that challenged the capabilities of our management. With an economy that has yet to fully recover and unfavorable external factors, the quality of our debtors remains paramount. The Company has focused on managing this with the highest efficiency to ensure favorable returns for our shareholders. Throughout the year, the Company implemented various measures to ensure a high-quality loan portfolio, prioritizing customers with the capacity to repay throughout the life of their contracts. We continued to emphasize portfolio quality over quantity, maintaining our commitment to closely monitoring the accounts within our portfolio at all times.

Furthermore, the Company upheld its policy of increasing operational efficiency across all areas, coupled with rigorous cost management to foster discipline within every department. This has enhanced our competitive advantage, which will contribute to long-term profitability for the organization. As a leader in the motorcycle hire-purchase market, the Company retains a competitive edge, allowing us to proactively steer the direction of our business.

Business Outlook for 2026

The year 2026 is expected to be another year where the domestic economy faces sensitive factors and significant uncertainty, stemming from intensifying conflicts in the Middle East and the unresolved border dispute between Thailand and Cambodia. Given these factors, the Company must continue to operate with caution and maintain prudent business management. Therefore, in 2026, we will adhere to a cautious management approach. This means prioritizing the selection of customers who are expected to have the capacity to repay throughout the contract term and monitoring our portfolio closely to ensure that every debtor maintains a consistent repayment record. Additionally, the Company will increase the frequency and rigor of our risk management policy reviews for each customer segment.

Moreover, the Company is continuously exploring new business opportunities to strengthen our potential for longterm profit generation. This includes offering additional credit to customers nearing the end of their contracts to retain our quality customer base for the long term, as well as expanding into new financial products and services, leveraging our existing human resources and credit-granting infrastructure.

The Company will prioritize investment in developing automated work systems, adopting new technologies to enhance operational efficiency and speed. Beyond reducing costs, the improved ability to analyze customer behavior will help ensure the sustainability of our business.

On behalf of the Company, I would like to thank our shareholders, investors, customers, partners, and all stakeholders for your continued support of Srisawad Capital 1969 Public Company Limited. We are all committed and dedicated to working toward improving the quality of life for the Thai people and delivering appropriate and sustainable returns to all.