New Risk • Mar 05
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: -฿28m 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 (-฿28m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Earnings have declined by 45% per year over the past 5 years. Market cap is less than US$10m (฿188.8m market cap, or US$5.97m). Reported Earnings • Mar 05
Full year 2025 earnings released: ฿0.031 loss per share (vs ฿0.034 loss in FY 2024) Full year 2025 results: ฿0.031 loss per share (improved from ฿0.034 loss in FY 2024). Revenue: ฿1.37b (down 6.4% from FY 2024). Net loss: ฿146.3m (loss narrowed 9.4% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 43% per year, which means it is performing significantly worse than earnings. 공시 • Mar 02
Thai-German Products Public Company Limited, Annual General Meeting, Apr 10, 2026 Thai-German Products Public Company Limited, Annual General Meeting, Apr 10, 2026, at 11:00 SE Asia Standard Time. Buy Or Sell Opportunity • Feb 23
Now 38% overvalued Over the last 90 days, the stock has fallen 17% to ฿0.05. The fair value is estimated to be ฿0.036, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Feb 05
Now 38% overvalued Over the last 90 days, the stock has fallen 17% to ฿0.05. The fair value is estimated to be ฿0.036, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jan 20
Now 44% overvalued The stock has been flat over the last 90 days, currently trading at ฿0.05. The fair value is estimated to be ฿0.035, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 16
Third quarter 2025 earnings released: ฿0.007 loss per share (vs ฿0.003 loss in 3Q 2024) Third quarter 2025 results: ฿0.007 loss per share (further deteriorated from ฿0.003 loss in 3Q 2024). Revenue: ฿327.6m (down 25% from 3Q 2024). Net loss: ฿35.3m (loss widened 142% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 34% per year whereas the company’s share price has fallen by 38% per year. Reported Earnings • Aug 16
Second quarter 2025 earnings released: ฿0.004 loss per share (vs ฿0.009 loss in 2Q 2024) Second quarter 2025 results: ฿0.004 loss per share (improved from ฿0.009 loss in 2Q 2024). Revenue: ฿366.8m (up 12% from 2Q 2024). Net loss: ฿18.9m (loss narrowed 58% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 39% per year, which means it has not declined as severely as earnings. 공시 • Aug 15
Thai-German Products Public Company Limited to Report First Half, 2025 Results on Aug 14, 2025 Thai-German Products Public Company Limited announced that they will report first half, 2025 results on Aug 14, 2025 Reported Earnings • May 17
First quarter 2025 earnings released: ฿0.006 loss per share (vs ฿0.01 loss in 1Q 2024) First quarter 2025 results: ฿0.006 loss per share (improved from ฿0.01 loss in 1Q 2024). Revenue: ฿356.9m (up 3.5% from 1Q 2024). Net loss: ฿30.0m (loss narrowed 40% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 35 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 04
Full year 2024 earnings released: ฿0.034 loss per share (vs ฿0.058 loss in FY 2023) Full year 2024 results: ฿0.034 loss per share (improved from ฿0.058 loss in FY 2023). Revenue: ฿1.47b (down 5.9% from FY 2023). Net loss: ฿161.5m (loss narrowed 41% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance. 공시 • Mar 01
Thai-German Products Public Company Limited, Annual General Meeting, Apr 11, 2025 Thai-German Products Public Company Limited, Annual General Meeting, Apr 11, 2025, at 11:00 SE Asia Standard Time. New Risk • Jan 15
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿330.4m (US$9.52m) 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 Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 16% per year over the past 5 years. Market cap is less than US$10m (฿330.4m market cap, or US$9.52m). New Risk • Aug 15
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿330.4m (US$9.45m) 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 Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 12% per year over the past 5 years. Market cap is less than US$10m (฿330.4m market cap, or US$9.45m). Reported Earnings • Aug 14
Second quarter 2024 earnings released: ฿0.009 loss per share (vs ฿0.013 loss in 2Q 2023) Second quarter 2024 results: ฿0.009 loss per share (improved from ฿0.013 loss in 2Q 2023). Revenue: ฿329.0m (down 9.2% from 2Q 2023). Net loss: ฿44.8m (loss narrowed 30% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Reported Earnings • May 17
First quarter 2024 earnings released: ฿0.01 loss per share (vs ฿0.008 loss in 1Q 2023) First quarter 2024 results: ฿0.01 loss per share (further deteriorated from ฿0.008 loss in 1Q 2023). Revenue: ฿344.9m (down 26% from 1Q 2023). Net loss: ฿49.5m (loss widened 36% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 02
Full year 2023 earnings released: ฿0.058 loss per share (vs ฿0.005 profit in FY 2022) Full year 2023 results: ฿0.058 loss per share (down from ฿0.005 profit in FY 2022). Revenue: ฿1.56b (down 17% from FY 2022). Net loss: ฿272.4m (down ฿295.8m from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 18
Third quarter 2023 earnings released: ฿0.019 loss per share (vs ฿0.001 loss in 3Q 2022) Third quarter 2023 results: ฿0.019 loss per share (further deteriorated from ฿0.001 loss in 3Q 2022). Revenue: ฿404.6m (down 15% from 3Q 2022). Net loss: ฿87.7m (loss widened ฿83.9m from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Reported Earnings • Aug 17
Second quarter 2023 earnings released: ฿0.013 loss per share (vs ฿0.006 profit in 2Q 2022) Second quarter 2023 results: ฿0.013 loss per share (down from ฿0.006 profit in 2Q 2022). Revenue: ฿362.4m (down 29% from 2Q 2022). Net loss: ฿63.8m (down 333% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 19
First quarter 2023 earnings released: ฿77.00 loss per share (vs ฿0.005 profit in 1Q 2022) First quarter 2023 results: ฿77.00 loss per share (down from ฿0.005 profit in 1Q 2022). Revenue: ฿467.2m (up 1.0% from 1Q 2022). Net loss: ฿36.3m (down 252% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). Director Narongchai Akrasanee was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: ฿0.006 (vs ฿0.007 in 2Q 2021) Second quarter 2022 results: EPS: ฿0.006 (down from ฿0.007 in 2Q 2021). Revenue: ฿513.5m (up 19% from 2Q 2021). Net income: ฿27.4m (down 20% from 2Q 2021). Profit margin: 5.3% (down from 8.0% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). Director Narongchai Akrasanee was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Mar 02
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: ฿0.018 (up from ฿0.012 loss in FY 2020). Revenue: ฿1.78b (up 12% from FY 2020). Net income: ฿84.3m (up ฿142.7m from FY 2020). Profit margin: 4.7% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) exceeded analyst estimates by 200%. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS ฿0.007 (vs ฿0.003 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿471.5m (up 17% from 3Q 2020). Net income: ฿31.8m (up ฿44.3m from 3Q 2020). Profit margin: 6.7% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 18
First quarter 2021 earnings released: ฿0.002 loss per share (vs ฿0.012 loss in 1Q 2020) The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: ฿380.7m (down 3.6% from 1Q 2020). Net loss: ฿8.80m (loss narrowed 85% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Reported Earnings • Mar 02
Full year 2020 earnings released: ฿0.012 loss per share (vs ฿0.036 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: ฿1.59b (up 5.4% from FY 2019). Net loss: ฿58.4m (loss narrowed 66% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 82% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 15
Third quarter 2020 earnings released: ฿0.003 loss per share The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2020 results: Revenue: ฿403.4m (down 3.6% from 3Q 2019). Net loss: ฿12.5m (loss narrowed 74% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 103% per year but the company’s share price has only fallen by 44% per year, which means it has not declined as severely as earnings.