Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment deteriorates as stock falls 29% After last week's 29% share price decline to ฿1.71, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 13x in the Trade Distributors industry in Thailand. Total loss to shareholders of 55% over the past three years. Board Change • May 19
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Independent Director Prasert Youngprapakorn was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 03
Full year 2025 earnings released: ฿0.20 loss per share (vs ฿0.016 profit in FY 2024) Full year 2025 results: ฿0.20 loss per share (down from ฿0.016 profit in FY 2024). Revenue: ฿1.27b (down 8.8% from FY 2024). Net loss: ฿20.9m (down ฿22.5m from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Announcement • Feb 27
T.C.J. Asia Public Company Limited, Annual General Meeting, Apr 09, 2026 T.C.J. Asia Public Company Limited, Annual General Meeting, Apr 09, 2026, at 14:00 SE Asia Standard Time. Location: novotel bangkok bangna hotel , 1 st floor suanluang 1- 2 room, Thailand Reported Earnings • Nov 16
Third quarter 2025 earnings released: ฿0.039 loss per share (vs ฿0.09 profit in 3Q 2024) Third quarter 2025 results: ฿0.039 loss per share (down from ฿0.09 profit in 3Q 2024). Revenue: ฿327.7m (down 6.1% from 3Q 2024). Net loss: ฿4.17m (down 144% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. New Risk • Nov 16
New major risk - Revenue and earnings growth Earnings have declined by 1.9% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 1.9% per year over the past 5 years. Market cap is less than US$10m (฿283.0m market cap, or US$8.73m). New Risk • Oct 09
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). Market cap is less than US$10m (฿213.3m market cap, or US$6.55m). Board Change • Aug 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Independent Director Prasert Youngprapakorn was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 16
Second quarter 2025 earnings released: ฿0.048 loss per share (vs ฿0.067 loss in 2Q 2024) Second quarter 2025 results: ฿0.048 loss per share (improved from ฿0.067 loss in 2Q 2024). Revenue: ฿303.3m (down 3.4% from 2Q 2024). Net loss: ฿5.02m (loss narrowed 29% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Board Change • Jul 14
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Independent Director Prasert Youngprapakorn was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Jul 09
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 7.9% 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 Market cap is less than US$10m (฿295.7m market cap, or US$9.05m). Minor Risk Share price has been volatile over the past 3 months (7.9% average weekly change). New Risk • May 26
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 8.3% 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 Market cap is less than US$10m (฿302.0m market cap, or US$9.26m). Minor Risk Share price has been volatile over the past 3 months (8.3% average weekly change). Reported Earnings • May 16
First quarter 2025 earnings released: ฿0.15 loss per share (vs ฿0.15 profit in 1Q 2024) First quarter 2025 results: ฿0.15 loss per share (down from ฿0.15 profit in 1Q 2024). Revenue: ฿298.4m (down 27% from 1Q 2024). Net loss: ฿16.2m (down 201% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • May 15
Now 33% undervalued after recent price drop Over the last 90 days, the stock has fallen 26% to ฿2.02. The fair value is estimated to be ฿3.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.3% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Apr 09
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to ฿2.38. The fair value is estimated to be ฿3.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.3% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Apr 02
T.C.J. Asia Public Company Limited Announces Change of Chief Financial Officer T.C.J. Asia Public Company Limited announced the termination of Mr. WANNAPHOSOP CHANWUT as Chief Financial Officer, effective date of Termination 29 March 2025 and appointment of Miss Saochona Chittawan as Acting Chief Financial Officer, effective date of Appointment 31 March 2025. Reported Earnings • Mar 02
Full year 2024 earnings released: EPS: ฿0.016 (vs ฿0.43 loss in FY 2023) Full year 2024 results: EPS: ฿0.016 (up from ฿0.43 loss in FY 2023). Revenue: ฿1.40b (flat on FY 2023). Net income: ฿1.68m (up ฿47.1m from FY 2023). Profit margin: 0.1% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Feb 28
T.C.J. Asia Public Company Limited, Annual General Meeting, Apr 10, 2025 T.C.J. Asia Public Company Limited, Annual General Meeting, Apr 10, 2025, at 14:00 SE Asia Standard Time. Location: 2 th floor hiraki room , novotel bangkok bangna, hotel , 333 srinakarin road, nongbon, pravet, bangkok Thailand Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment deteriorates as stock falls 33% After last week's 33% share price decline to ฿2.16, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 14x in the Trade Distributors industry in Thailand. Total loss to shareholders of 52% over the past three years. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to ฿2.40, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 17x in the Trade Distributors industry in Thailand. Total loss to shareholders of 44% over the past three years. New Risk • Oct 16
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿327.3m (US$9.86m) 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Jul 01
Now 15% undervalued Over the last 90 days, the stock has risen 7.6% to ฿3.38. The fair value is estimated to be ฿3.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jun 19
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at ฿3.16. The fair value is estimated to be ฿3.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • May 30
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at ฿3.08. The fair value is estimated to be ฿3.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 16
First quarter 2024 earnings released: EPS: ฿0.15 (vs ฿0.17 loss in 1Q 2023) First quarter 2024 results: EPS: ฿0.15 (up from ฿0.17 loss in 1Q 2023). Revenue: ฿405.9m (up 25% from 1Q 2023). Net income: ฿16.1m (up ฿33.6m from 1Q 2023). Profit margin: 4.0% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. New Risk • Apr 18
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 6.0% 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 Risks Earnings have declined by 22% per year over the past 5 years. Market cap is less than US$10m (฿318.9m market cap, or US$8.68m). Minor Risk Share price has been volatile over the past 3 months (6.0% average weekly change). Reported Earnings • Mar 01
Full year 2023 earnings released: ฿0.43 loss per share (vs ฿0.072 loss in FY 2022) Full year 2023 results: ฿0.43 loss per share (further deteriorated from ฿0.072 loss in FY 2022). Revenue: ฿1.41b (down 17% from FY 2022). Net loss: ฿45.4m (loss widened 499% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Feb 29
T.C.J. Asia Public Company Limited, Annual General Meeting, Apr 10, 2024 T.C.J. Asia Public Company Limited, Annual General Meeting, Apr 10, 2024, at 14:00 SE Asia Standard Time. Location: 1 th Floor Suan Luang Room , Novotel Bangkok Bangna Hotel , 333 Srinakarin Road, Nongbon, Pravet, Bangkok Thailand Agenda: To consider and acknowledge the company's operation for the year 2023; to approve the company's financial statements for the years ended December 31, 2023; to consider and approve non- declaration of dividend for the operational result for the year 2023; to consider and approve the appointment of the Company's auditor and the auditing fee for the year 2024; to consider and approve the appointment of the directors to replace the directors who will retire by rotation; and to consider other matters. Reported Earnings • Nov 17
Third quarter 2023 earnings released: ฿0.093 loss per share (vs ฿0.033 loss in 3Q 2022) Third quarter 2023 results: ฿0.093 loss per share (further deteriorated from ฿0.033 loss in 3Q 2022). Revenue: ฿361.5m (down 19% from 3Q 2022). Net loss: ฿9.77m (loss widened 177% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Aug 12
Second quarter 2023 earnings released: ฿0.19 loss per share (vs ฿0.003 loss in 2Q 2022) Second quarter 2023 results: ฿0.19 loss per share (further deteriorated from ฿0.003 loss in 2Q 2022). Revenue: ฿350.5m (down 10.0% from 2Q 2022). Net loss: ฿19.9m (loss widened ฿19.6m from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. New Risk • Aug 05
New major risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ฿399.2m (US$11.5m) This is considered a minor 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 Risk Earnings have declined by 32% per year over the past 5 years. Minor Risk Market cap is less than US$100m (฿399.2m market cap, or US$11.5m). Reported Earnings • May 15
First quarter 2023 earnings released: ฿0.17 loss per share (vs ฿0.034 profit in 1Q 2022) First quarter 2023 results: ฿0.17 loss per share (down from ฿0.034 profit in 1Q 2022). Revenue: ฿326.2m (down 33% from 1Q 2022). Net loss: ฿17.6m (down ฿21.1m from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Prasert Youngprapakorn was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 15
Second quarter 2022 earnings released: ฿0.003 loss per share (vs ฿0.05 loss in 2Q 2021) Second quarter 2022 results: ฿0.003 loss per share (up from ฿0.05 loss in 2Q 2021). Revenue: ฿389.6m (up 20% from 2Q 2021). Net loss: ฿282.9k (loss narrowed 95% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Aug 11
T.C.J. Asia Public Company Limited Appoints Prasert Youngprapakorn as Chairman of Audit Committee T.C.J. Asia Public Company Limited appointed Prasert Youngprapakorn as Chairman of Audit committee at its board meeting held on August 9, 2022. The appointment shall take effect from August 9, 2022. Announcement • May 13
T.C.J. Asia Public Company Limited Announces Director Changes T.C.J. Asia Public Company Limited Board of Directors' Meeting was held on 11 May 2022 appointed Mr.PRASERT YOUNGPRAPAKORN to a be Member Independent Director, Audit Committee replacing Mr. PONGSAK ANGSUPUN who resigned. This appointment shall be effective from May 11, 2022. onwards. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Chairman Amnuay Preemonwong was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Feb 27
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: ฿0.61 loss per share (down from ฿0.11 profit in FY 2020). Revenue: ฿1.39b (up 17% from FY 2020). Net loss: ฿64.4m (down ฿76.1m from profit in FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Buying Opportunity • Feb 27
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 4.6%. The fair value is estimated to be ฿5.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% per annum over the last 3 years. The company became loss making over the last year. Announcement • Feb 25
T.C.J. Asia Public Company Limited, Annual General Meeting, Apr 12, 2022 T.C.J. Asia Public Company Limited, Annual General Meeting, Apr 12, 2022, at 15:00 Singapore Standard Time. Location: 1 th Floor Suan Luang Room , Novotel Bangkok Bangna Hotel 333 Srinakarin Road, Nongbon, Pravet, Bangkok, 10250 Bangkok Thailand Agenda: To consider and acknowledge the company's operation for the year 2021; to approve the company's financial statements for the year ended December 31, 2021; to consider and approve non- declaration of dividend for the operational result for the year 2021; to consider and approve the appointment of the Company's auditor and the auditing fee for the year 2022; to consider and approve the appointment of the directors to replace the directors who will retire by rotation; to consider and approve the director's remuneration for the year 2022; and to consider other issues (if any). Reported Earnings • Nov 18
Third quarter 2021 earnings released: EPS ฿0.004 (vs ฿0.032 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: ฿394.5m (up 31% from 3Q 2020). Net income: ฿442.9k (down 87% from 3Q 2020). Profit margin: 0.1% (down from 1.1% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 21
Second quarter 2021 earnings released: ฿0.05 loss per share (vs ฿0.097 profit in 2Q 2020) The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: ฿325.5m (up 9.9% from 2Q 2020). Net loss: ฿5.30m (down 152% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improved over the past week After last week's 17% share price gain to ฿4.72, the stock trades at a trailing P/E ratio of 66.3x. Average trailing P/E is 14x in the Trade Distributors industry in Thailand. Total loss to shareholders of 29% over the past three years. Valuation Update With 7 Day Price Move • May 21
Investor sentiment deteriorated over the past week After last week's 25% share price decline to ฿4.14, the stock trades at a trailing P/E ratio of 58.1x. Average trailing P/E is 15x in the Trade Distributors industry in Thailand. Total loss to shareholders of 39% over the past three years. Reported Earnings • May 16
First quarter 2021 earnings released: ฿0.064 loss per share (vs ฿0.024 loss in 1Q 2020) The company reported a soft first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: ฿279.6m (up 2.7% from 1Q 2020). Net loss: ฿6.76m (loss widened 162% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment improved over the past week After last week's 16% share price gain to ฿5.20, the stock trades at a trailing P/E ratio of 46.9x. Average trailing P/E is 16x in the Trade Distributors industry in Thailand. Total loss to shareholders of 30% over the past three years. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 27% share price decline to ฿2.64, the stock is trading at a trailing P/E ratio of 23.8x, down from the previous P/E ratio of 32.5x. This compares to an average P/E of 14x in the Trade Distributors industry in Thailand. Total return to shareholders over the past three years is a loss of 67%. Is New 90 Day High Low • Mar 09
New 90-day low: ฿2.64 The company is down 19% from its price of ฿3.24 on 09 December 2020. The Thai market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 19% over the same period. Announcement • Mar 02
T.C.J. Asia Public Company Limited, Annual General Meeting, Apr 28, 2021 T.C.J. Asia Public Company Limited, Annual General Meeting, Apr 28, 2021, at 07:00 Coordinated Universal Time. Location: 1 th Floor Suan Luang Room , Novotel Bangkok Bangna Hote 333 Srinakarin Road, Nongbon, Pravet Bangkok Thailand Agenda: To certify the Minutes of the AGM meeting No. 23 held on July 17, 2020; to consider and acknowledge the company's operation for the year 2020; to approve the company's financial statements for the years ended December 31, 2020; to consider and approve non- declaration of dividend for the operational result for the year 2020; to approved to propose that the Shareholders' Annual General Meeting consider and approve remained for stock not sell amount 32,791,702 shares; and to consider other matters. Reported Earnings • Mar 02
Full year 2020 earnings released: EPS ฿0.11 (vs ฿0.63 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿1.19b (up 8.8% from FY 2019). Net income: ฿11.7m (up ฿78.3m from FY 2019). Profit margin: 1.0% (up from net loss in FY 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 81% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 09
New 90-day high: ฿3.30 The company is up 11% from its price of ฿2.96 on 11 November 2020. The Thai market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 19% over the same period. Is New 90 Day High Low • Jan 13
New 90-day high: ฿4.16 The company is up 26% from its price of ฿3.30 on 15 October 2020. The Thai market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Trade Distributors industry, which is up 7.0% over the same period. Is New 90 Day High Low • Dec 08
New 90-day low: ฿2.66 The company is down 22% from its price of ฿3.42 on 09 September 2020. The Thai market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is down 3.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS ฿0.032 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿301.6m (up 1.7% from 3Q 2019). Net income: ฿3.37m (up ฿14.1m from 3Q 2019). Profit margin: 1.1% (up from net loss in 3Q 2019). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 111% per year but the company’s share price has only fallen by 36% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 06
New 90-day low: ฿2.38 The company is down 18% from its price of ฿2.90 on 07 August 2020. The Thai market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 3.0% over the same period. 
