New Risk • Apr 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 30% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 69% per year over the past 5 years. Market cap is less than US$10m (฿308.9m market cap, or US$9.55m). Minor Risk Shareholders have been diluted in the past year (30% increase in shares outstanding). Board Change • Apr 01
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Executive Director Pannawit Chottechathammanee is the most experienced director on the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 공시 • Mar 11
Origin Global Empire Public Company Limited, Annual General Meeting, Apr 24, 2026 Origin Global Empire Public Company Limited, Annual General Meeting, Apr 24, 2026, at 14:00 SE Asia Standard Time. Reported Earnings • Mar 06
Full year 2025 earnings released: ฿0.34 loss per share (vs ฿1.02 loss in FY 2024) Full year 2025 results: ฿0.34 loss per share (improved from ฿1.02 loss in FY 2024). Revenue: ฿710.7m (up 57% from FY 2024). Net loss: ฿164.6m (loss narrowed 63% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 37 percentage points per year, which is a significant difference in performance. 공시 • Feb 07
Origin Global Empire Public Company Limited Announces Resignation of Pongsiri Raddawanpong as Company Secretary, Effective February 5, 2026 Origin Global Empire Public Company Limited hereby notifies that Mr. Pongsiri Raddawanpong has resigned from his position as Company Secretary, effective from February 5, 2026. The company will proceed with the recruitment and appointment of a suitable person to fill the vacant position of Company Secretary and will subsequently inform the Stock Exchange of Thailand accordingly. New Risk • Feb 04
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿300.7m (US$9.51m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-฿31m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 79% per year over the past 5 years. Market cap is less than US$10m (฿300.7m market cap, or US$9.51m). New Risk • Jan 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 9.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-฿31m free cash flow). Share price has been highly volatile over the past 3 months (9.3% average weekly change). Earnings have declined by 79% per year over the past 5 years. Minor Risk Market cap is less than US$100m (฿412.3m market cap, or US$13.3m). 공시 • Jan 08
Empire Announces Resignation of Director Thawatchai Jirawataungkana, Effective December 31, 2025 Empire announced the resignation of Mr. Thawatchai Jirawataungkana from his position as Director due to personal commitments. The board resolution regarding this change was dated January 7, 2026. Mr. Thawatchai Jirawataungkana held the position of Director with an effective date of April 1, 2017, and an expiry date of December 31, 2025. New Risk • Dec 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -฿31m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-฿31m free cash flow). Share price has been highly volatile over the past 3 months (9.3% average weekly change). Earnings have declined by 79% per year over the past 5 years. Minor Risk Market cap is less than US$100m (฿766.3m market cap, or US$23.9m). Reported Earnings • Nov 16
Third quarter 2025 earnings released: ฿0.03 loss per share (vs ฿0.45 loss in 3Q 2024) Third quarter 2025 results: ฿0.03 loss per share (improved from ฿0.45 loss in 3Q 2024). Revenue: ฿142.9m (down 40% from 3Q 2024). Net loss: ฿12.3m (loss narrowed 94% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 16
Second quarter 2025 earnings released: EPS: ฿0.01 (vs ฿0.049 loss in 2Q 2024) Second quarter 2025 results: EPS: ฿0.01 (up from ฿0.049 loss in 2Q 2024). Revenue: ฿202.9m (up 198% from 2Q 2024). Net income: ฿5.23m (up ฿26.2m from 2Q 2024). Profit margin: 2.6% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. 공시 • Jun 09
Twenty-Four Con & Supply Public Company Limited Announces Appointment of Directors Twenty-Four Con & Supply Public Company Limited at its Board meeting held on June 6, 2025 announced the appointment of Pharmacist Dr. Pannawit Chottechathammanee,Mr. Julpas Kruesopon, and Mr. Kritsada Pruitipat as directors. Reported Earnings • May 12
First quarter 2025 earnings released: EPS: ฿0.06 (vs ฿0.075 loss in 1Q 2024) First quarter 2025 results: EPS: ฿0.06 (up from ฿0.075 loss in 1Q 2024). Revenue: ฿271.0m (up ฿229.3m from 1Q 2024). Net income: ฿31.1m (up ฿63.5m from 1Q 2024). Profit margin: 12% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. New Risk • Mar 31
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 106% per year over the past 5 years. Minor Risk Market cap is less than US$100m (฿552.9m market cap, or US$16.3m). Reported Earnings • Mar 01
Full year 2024 earnings released: ฿1.02 loss per share (vs ฿0.10 loss in FY 2023) Full year 2024 results: ฿1.02 loss per share (further deteriorated from ฿0.10 loss in FY 2023). Revenue: ฿453.0m (down 34% from FY 2023). Net loss: ฿439.4m (loss widened ฿394.3m from FY 2023). 공시 • Feb 28
Twenty-Four Con & Supply Public Company Limited, Annual General Meeting, Apr 28, 2025 Twenty-Four Con & Supply Public Company Limited, Annual General Meeting, Apr 28, 2025, at 13:30 SE Asia Standard Time. Buy Or Sell Opportunity • Feb 07
Now 20% overvalued Over the last 90 days, the stock has fallen 28% to ฿2.78. The fair value is estimated to be ฿2.31, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 21% over the last 3 years. Meanwhile, the company became loss making. New Risk • Jan 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 103% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (฿1.40b market cap, or US$40.7m). Buy Or Sell Opportunity • Jan 03
Now 24% overvalued Over the last 90 days, the stock has fallen 24% to ฿3.26. The fair value is estimated to be ฿2.62, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 21% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 14
Third quarter 2024 earnings released: ฿0.45 loss per share (vs ฿0.069 loss in 3Q 2023) Third quarter 2024 results: ฿0.45 loss per share (further deteriorated from ฿0.069 loss in 3Q 2023). Revenue: ฿236.7m (up 46% from 3Q 2023). Net loss: ฿194.4m (loss widened ฿164.7m from 3Q 2023). Reported Earnings • Aug 10
Second quarter 2024 earnings released: ฿0.05 loss per share (vs ฿0.016 profit in 2Q 2023) Second quarter 2024 results: ฿0.05 loss per share (down from ฿0.016 profit in 2Q 2023). Revenue: ฿68.0m (down 60% from 2Q 2023). Net loss: ฿21.0m (down 410% from profit in 2Q 2023). 공시 • May 24
Twenty-Four Con & Supply Public Company Limited Announces Change of Chief Accountant Twenty-Four Con & Supply Public Company Limited announced change of Chief Accountant of the company. Position of Chief Accountant: Accounting manager. Name: Mr. Chanchai Thonjaeng. Effective date of termination: May 23, 2024. Position of Chief Accountant: Accounting and Finance Manager. Name: Mr. Pongpat Piankhuntheerachai. Effective date of appointment: May 23, 2024. Reported Earnings • May 12
First quarter 2024 earnings released: ฿0.08 loss per share (vs ฿0.013 profit in 1Q 2023) First quarter 2024 results: ฿0.08 loss per share (down from ฿0.013 profit in 1Q 2023). Revenue: ฿41.7m (down 86% from 1Q 2023). Net loss: ฿32.4m (down ฿37.8m from profit in 1Q 2023). Reported Earnings • Feb 29
Full year 2023 earnings released: ฿0.10 loss per share (vs ฿0.075 profit in FY 2022) Full year 2023 results: ฿0.10 loss per share (down from ฿0.075 profit in FY 2022). Revenue: ฿681.5m (down 30% from FY 2022). Net loss: ฿45.1m (down 284% from profit in FY 2022). 공시 • Feb 28
Twenty - Four Con & Supply Public Company Limited, Annual General Meeting, Apr 24, 2024 Twenty - Four Con & Supply Public Company Limited, Annual General Meeting, Apr 24, 2024, at 13:30 SE Asia Standard Time. Location: meeting room of the Company, No. 89 AIA Capital Center, 9th Floor, Room 901, Din Daeng Sub-District, Din Daeng District, Bangkok Bangkok Thailand Agenda: To adopt the Minutes of the Annual General Meeting of Shareholders of 2023; to acknowledge the Company's operating performance for 2023; to approve the audited financial statements for the fiscal year ended December 31, 2023; to approve the omission of allocation of net profit as legal reserve and omission of dividend payment for the year 2023; to approve the appointment of directors to replace those due to complete their terms; and to discuss other matters. Reported Earnings • Nov 11
Third quarter 2023 earnings released: ฿0.07 loss per share (vs ฿0.023 profit in 3Q 2022) Third quarter 2023 results: ฿0.07 loss per share (down from ฿0.023 profit in 3Q 2022). Revenue: ฿161.9m (down 17% from 3Q 2022). Net loss: ฿29.7m (down ฿36.6m from profit in 3Q 2022). New Risk • Nov 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (90% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (฿494.5m market cap, or US$13.8m). Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ฿1.09, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 13x in the Trade Distributors industry in Thailand. Total loss to shareholders of 71% over the past year. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ฿1.72, the stock trades at a trailing P/E ratio of 34.5x. Average trailing P/E is 13x in the Trade Distributors industry in Thailand. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ฿2.38, the stock trades at a trailing P/E ratio of 47.8x. Average trailing P/E is 13x in the Trade Distributors industry in Thailand. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ฿2.18, the stock trades at a trailing P/E ratio of 38.3x. Average trailing P/E is 15x in the Trade Distributors industry in Thailand. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ฿2.64, the stock trades at a trailing P/E ratio of 35.7x. Average trailing P/E is 14x in the Trade Distributors industry in Thailand. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. was the last director to join the board, commencing their role in . The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 16% share price gain to ฿4.24, the stock trades at a trailing P/E ratio of 62.6x. Average trailing P/E is 16x in the Trade Distributors industry in Thailand. Reported Earnings • Oct 03
Second quarter 2022 earnings released Second quarter 2022 results: EPS: ฿0.01. Net income: ฿3.43m (up ฿3.43m from 2Q 2021). 
