Reported Earnings • 4h
First quarter 2026 earnings released: EPS: ฿0.007 (vs ฿0.02 loss in 1Q 2025) First quarter 2026 results: EPS: ฿0.007 (up from ฿0.02 loss in 1Q 2025). Revenue: ฿94.0m (up 6.3% from 1Q 2025). Net income: ฿649.7k (up ฿2.62m from 1Q 2025). Profit margin: 0.7% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Apr 09
Now 28% overvalued The stock has been flat over the last 90 days, currently trading at ฿1.56. The fair value is estimated to be ฿1.22, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.9% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Mar 23
Now 25% overvalued The stock has been flat over the last 90 days, currently trading at ฿1.50. The fair value is estimated to be ฿1.20, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.9% over the last 3 years. Meanwhile, the company has become profitable. Upcoming Dividend • Mar 05
Upcoming dividend of ฿0.031 per share Eligible shareholders must have bought the stock before 12 March 2026. Payment date: 15 May 2026. The company last paid an ordinary dividend in February 2016. The average dividend yield among industry peers is 2.5%. Buy Or Sell Opportunity • Mar 02
Now 20% overvalued Over the last 90 days, the stock has fallen 15% to ฿1.45. The fair value is estimated to be ฿1.21, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.9% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: ฿0.033 (vs ฿0.10 loss in FY 2024) Full year 2025 results: EPS: ฿0.033 (up from ฿0.10 loss in FY 2024). Revenue: ฿373.3m (down 12% from FY 2024). Net income: ฿3.25m (up ฿13.5m from FY 2024). Profit margin: 0.9% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Announcement • Feb 28
Qualitech Public Company Limited Proposes Dividend for the Year Ended December 31, 2025, Payable on May 15, 2026 Qualitech Public Company Limited held the Board of Directors Meeting No. 2/2026 On February 25, 2026, approved to propose to the 2026 Annual General Meeting of Shareholders to be held on April 27, 2026, for approval, the dividend payment from the 2025 operating results. The proposed dividend rate is THB 0.031 per share or totally THB 3.06 million, which will be paid from retained earnings eligible for BOI investment promotion. The Record Date to determine the shareholders entitled to attend the meeting and receive the dividend is March 13, 2026, and the dividend payment date is scheduled for May 15, 2026. However, the right to receive such dividend is subject to the approval of the shareholders at the 2026 Annual General Meeting of Shareholders. Announcement • Feb 26
Qualitech Public Company Limited, Annual General Meeting, Apr 27, 2026 Qualitech Public Company Limited, Annual General Meeting, Apr 27, 2026, at 13:30 SE Asia Standard Time. Location: hybrid meeting, at the head office of qualitech public company, located at 21/3 banplong road, map ta phut, mueang, rayong 21150, Thailand New Risk • Dec 30
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 8.1% 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 (8.1% average weekly change). Earnings have declined by 40% per year over the past 5 years. Market cap is less than US$10m (฿159.7m market cap, or US$5.07m). Buy Or Sell Opportunity • Dec 19
Now 25% overvalued Over the last 90 days, the stock has fallen 20% to ฿1.74. The fair value is estimated to be ฿1.39, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.9% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 14
Third quarter 2025 earnings released: ฿0.009 loss per share (vs ฿0.092 loss in 3Q 2024) Third quarter 2025 results: ฿0.009 loss per share (improved from ฿0.092 loss in 3Q 2024). Revenue: ฿94.2m (down 16% from 3Q 2024). Net loss: ฿858.2k (loss narrowed 91% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Oct 06
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 26% to ฿1.78. The fair value is estimated to be ฿2.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Aug 16
Second quarter 2025 earnings released: ฿0.003 loss per share (vs ฿0.041 profit in 2Q 2024) Second quarter 2025 results: ฿0.003 loss per share (down from ฿0.041 profit in 2Q 2024). Revenue: ฿88.3m (down 22% from 2Q 2024). Net loss: ฿318.6k (down 108% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has fallen by 29% per year, which means it is performing significantly worse than earnings. Announcement • Jul 15
Qualitech Public Company Limited Approves Board Appointments Qualitech Public Company Limited at its Extraordinary General Meeting of Shareholders held on July 15, 2025, approved the appointment of Mr. Navin Hemaruchatanan, Ms. Rinnatha Akeassavapirom as director; and Mr. Piyapot Keawjamlong as Independent Director. New Risk • Jul 10
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 7.6% 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 54% per year over the past 5 years. Market cap is less than US$10m (฿236.6m market cap, or US$7.25m). Minor Risk Share price has been volatile over the past 3 months (7.6% average weekly change). Reported Earnings • May 15
First quarter 2025 earnings released: ฿0.02 loss per share (vs ฿0.014 loss in 1Q 2024) First quarter 2025 results: ฿0.02 loss per share (further deteriorated from ฿0.014 loss in 1Q 2024). Revenue: ฿88.4m (down 12% from 1Q 2024). Net loss: ฿1.97m (loss widened 44% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Announcement • Apr 09
Qualitech Public Company Limited Announces Director Changes Qualitech Public Company Limited announced that Since Mr. Kitti Phuathavornskul and Ms. Kunlanit Sarapab cannot be appointed by a resolution of the Board of Directors, the appointment of Mrs. Pattawan Chaipim will be considered at a later time (as she will not be appointed at the 2025 Annual General Meeting of Shareholders). More detail: As the Board of Directors' Meeting No. 5/2025 held on April 2, 2025, it was resolved to approve the appointment Mr. Kitti Phuathavornskul as a Director effective from April 2, 2025, replacing Mr. Amnart Sukanjanakul, who resigned on March 28, 2025 that the terms of office for the appointment directors will be equivalent to the remaining terms of the directors they are replacing and approve the appointment of Mr. Kitti Phuathavornskul as Chairman of the Executive Committee, replacing Ms. Patcharin Yoosuksamran, and the reassignment of Ms. Patcharin Yoosuksamran as an
Executive Committee Member, effective from April 2, 2025, onward. Announcement • Mar 28
Qualitech Public Company Limited Announces the Resignation of Plenpit Ranuraksa as Director, Effective March 28, 2025 Qualitech Public Company Limited announced the resignation of Miss PLENPIT RANURAKSA as Director, effective March 28, 2025. Announcement • Mar 25
Qualitech Public Company Limited Announces Director Terminations Qualitech Public Company Limited announced the terminations of Mr. PURIN KAEWKLOM, Mr. PITAK PRUITTISARIKORN, Mr. WALLOP LUANGSEENAK, Mr. WICHAI PRAPUSAKPITAK, Mr. AMNART SUKANJANAKUL, Mr. SONGPOL SHANMATKIT, Mr. PHETHAI WATTANASIRI, Mr. WANMONGKOL SILAPRASERT, Mr. SITTHI NGAMLUMYOUNG as Directors. Expire Date: 28 March 2025. Terminate Reason: Resigned from position /the company due to Due to other business engagements, so no time responsibilities to effectively. Announcement • Mar 07
Qualitech Public Company Limited, Annual General Meeting, Apr 29, 2025 Qualitech Public Company Limited, Annual General Meeting, Apr 29, 2025, at 09:00 SE Asia Standard Time. Location: hybrid meeting at head office,qualitech public, company limited, 21/3 banplong road mabtaphut, muang, rayong 21150, Thailand Reported Earnings • Feb 27
Full year 2024 earnings released: ฿0.10 loss per share (vs ฿1.43 loss in FY 2023) Full year 2024 results: ฿0.10 loss per share (improved from ฿1.43 loss in FY 2023). Revenue: ฿423.2m (down 1.0% from FY 2023). Net loss: ฿10.3m (loss narrowed 93% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: ฿0.041 (vs ฿1.27 loss in 2Q 2023) Second quarter 2024 results: EPS: ฿0.041 (up from ฿1.27 loss in 2Q 2023). Revenue: ฿113.5m (up 27% from 2Q 2023). Net income: ฿4.03m (up ฿129.0m from 2Q 2023). Profit margin: 3.5% (up from net loss in 2Q 2023). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Announcement • Jun 28
Qualitech Public Company Limited Announces Resignation of Thatchaphong Thamputthipong as Independent Director, Effective from June 30, 2024 Qualitech Public Company Limited announced that Mr. Thatchaphong Thamputthipong has submitted his resignation from the Independent Director. The resignation will be effective from June 30, 2024 onwards. Reported Earnings • May 15
First quarter 2024 earnings released: ฿0.014 loss per share (vs ฿0.034 loss in 1Q 2023) First quarter 2024 results: ฿0.014 loss per share (improved from ฿0.034 loss in 1Q 2023). Revenue: ฿100.3m (down 6.0% from 1Q 2023). Net loss: ฿1.36m (loss narrowed 60% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Announcement • May 15
Qualitech Public Company Limited Approves Board Changes Qualitech Public Company Limited announced that at its board meeting held on May 13, 2024, has passed the material resolution as follows: To change the duties of the Board of Directors are as follows: Approved to change the duties of Mr. Thatchaphong Thamputthipong from Vice Chairman of the Board of Directors /Independent director /Chairman of the Audit Committee /Member of the Nomination and Remuneration Committee /Chairman of the Risk Management Committee to be Independent director; To appoint Directors are as follows: Mr. Songpol Shanmatkit to be the Chairman of the Audit Committee; Mr. Phethai Wattanasiri to be the Member of the Nomination and Remuneration Committee; Mr. Phethai Wattanasiri to be the Chairman of the Risk Management Committee. The effective is May 13, 2024, onwards. The Audit Committee: Mr. Songpol Shanmatkit, Chairman of the Audit Committee /Independent director; Mr. Sitthi Ngamlumyoung Independent director /The Audit Committee; Mr. Phethai Wattanasiri Independent director /The Audit Committee. The Nomination and Remuneration Committee: Mr. Sitthi Ngamlumyoung Chairman of the Nomination and Remuneration Committee; Mr. Phethai Wattanasiri, The Nomination and Remuneration Committee; Mr. Wichai Prapusakpitak, the Nomination and Remuneration Committee. The Risk Management Committee: Mr. Phethai Wattanasiri, Chairman of the Risk Management Committee; Dr. Wanmongkol Silaprasert, The Risk Management Committee; Mr. Wallop Luengseenak, The Risk Management Committee. Announcement • Apr 30
Qualitech Public Company Limited Announces Resignation of Chanyapat Wiphatthannananthakul from the Independent Director, Audit Committee and Chairman of the Nomination and Remuneration Committee Qualitech Public Company Limited informed that Dr. Chanyapat Wiphatthannananthakul has submitted her resignation from the Independent Director, Audit Committee and Chairman of the Nomination and Remuneration Committee of the Company due to the increasing of responsible engagement. The resignation will be effective from April 29, 2024 onwards. Announcement • Mar 14
Qualitech Public Company Limited Announces Chief Financial Officer Changes Qualitech Public Company Limited announced the appointment of Mr. Wichai Prapusakpitak as Chief Financial Officer. Effective date of appointment is March 13, 2024. Miss Kunlanit Sarapab terminated as Accounting & Finance Division Manager. Effective date of termination is March 13, 2024. Announcement • Mar 07
Qualitech Public Company Limited Announces Resignation of Lersak Kancvalskul as Director, Independent Director, Audit Committee and Chairman of the Risk Management Committee Qualitech Public Company Limited announced that Mr. Lersak Kancvalskul has submitted his resignation from the Company's Director, Independent Director, Audit Committee and Chairman of the Risk Management Committee of the Company due to the increasing of responsible engagement. The resignation will be effective from March 7, 2024 onwards. Reported Earnings • Feb 20
Full year 2023 earnings released: ฿1.43 loss per share (vs ฿0.18 profit in FY 2022) Full year 2023 results: ฿1.43 loss per share (down from ฿0.18 profit in FY 2022). Revenue: ฿427.6m (down 6.1% from FY 2022). Net loss: ฿141.3m (down ฿159.2m 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 99 percentage points per year, which is a significant difference in performance. Announcement • Feb 19
Qualitech Public Company Limited, Annual General Meeting, Apr 10, 2024 Qualitech Public Company Limited, Annual General Meeting, Apr 10, 2024, at 13:30 SE Asia Standard Time. Location: Head Office of Qualitech Public Company Limited No 21/3 Banplong Road, Maptaphut, Muang, Rayong 21150 Rayong Thailand Agenda: To consider and certify Minutes of the Annual General Meeting of Shareholders for the year 2023; to consider and acknowledge the 2023 business operating performance report of the company; to consider and approve the company's audited financial statement for the year ended 2023; to consider and approve the omission of dividend payment for the company's performance for the year 2023; to consider and approve the appointment of directors in replacement of those who retired by rotation; and to transact such other business matters. Announcement • Feb 05
Qualitech Public Company Limited Announces Executive Changes Qualitech Public Company Limited to submit the resolution of the Board of Directors' Meeting. The company approved to change the structure of the Risk Management Committee as follows: Mr. Lersak Kancvalskul as Chairman, Mr. Tatchapong Thamputthipong as member of Committee, Miss Kunlanit Sarapab as member of Committee and Mr. Wallop Luangseenak as member of Committee. The effective is February 2, 2024 onwards. Announcement • Nov 15
Qualitech Public Company Limited Approves Management Appointments Qualitech Public Company Limited announced that the board of directors meeting held on November 10, 2023, approved the appointment of Colonel Assoc. Prof. Dr. Chanyapat Wiphatthanananthakul to be the chairman of the nomination and remuneration committee; approved the appointment of Miss Kunlanit Sarapab to be the company's secretary. The effective is November 10, 2023 onwards. Reported Earnings • Nov 14
Third quarter 2023 earnings released: ฿0.07 loss per share (vs ฿0.13 profit in 3Q 2022) Third quarter 2023 results: ฿0.07 loss per share (down from ฿0.13 profit in 3Q 2022). Revenue: ฿102.3m (down 17% from 3Q 2022). Net loss: ฿6.89m (down 153% from profit in 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Announcement • Nov 04
Qualitech Public Company Limited Announces Board and Committee Changes Qualitech Public Company Limited announced resolution of the Board of Directors' Meeting No.9/2023 held on November 3, 2023 to appoint Directors in replacement of the vacant positions as follow: 1) Dr. Pradit Arayakarnkul to be the Director in replacement of Mr. Nick Thanapoomikul. 2) Mr. Lersak Kancvalskul to be the Director in replacement of Mr. Pitak Pruitthisarikorn. The effective is November 3, 2023 onwards and will hold positions for the remaining term of the resigned director. To appoint the Member of the Audit Committee and Independent Director as follow: 1) Dr. Pradit Arayakarnkul to be the Member of the Audit Committee and Independent Director. 2) Mr. Lersak Kancvalskul to be the Member of the Audit Committee and Independent Director. The effective is November 3, 2023 onwards. Announcement • Nov 02
Qualitech Public Company Limited Announces Resignation of Pranya Sakiyalak as Director, Member of the Audit Committee, Chairman of the Nomination and Remuneration Committee and Independent Director Qualitech Public Company Limited announced that Assoc. Prof. Dr. Pranya Sakiyalak has resigned from the position of Director, Member of the Audit Committee, Chairman of the Nomination and Remuneration Committee and Independent Director due to other missions, unable to perform duties fully. The resignation is effective from November 1, 2023 onwards. New Risk • Oct 19
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 26% per year over the past 5 years. Market cap is less than US$10m (฿289.8m market cap, or US$7.96m). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Buying Opportunity • Oct 19
Now 35% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be ฿4.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. New Risk • Aug 16
New major risk - Revenue and earnings growth Earnings have declined by 26% 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 Risk Earnings have declined by 26% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (฿421.9m market cap, or US$11.9m). Reported Earnings • Aug 16
Second quarter 2023 earnings released: ฿1.27 loss per share (vs ฿0.18 profit in 2Q 2022) Second quarter 2023 results: ฿1.27 loss per share (down from ฿0.18 profit in 2Q 2022). Revenue: ฿89.1m (down 10% from 2Q 2022). Net loss: ฿125.0m (down ฿143.1m from profit in 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ฿4.42, the stock trades at a trailing P/E ratio of 37.2x. Average trailing P/E is 15x in the Energy Services industry in Asia. Total returns to shareholders of 20% over the past three years. Announcement • Jul 11
Qualitech Public Company Limited Announces Executive Changes Qualitech Public Company Limited Approved the appointment of Mr. Kitti Phuathavornskul to be the Chairman of the Board of Director. approved the appointment of Mr. Tatchapong Thamputthipong to be the Chairman of the Audit Committee and Independent Director, approved the appointment of Colonel Assoc. Prof. Dr. Chanyapat Wiphatthanananthakul to b the Member of the Audit Committee and Independent Director and approved for change of the authorized directors to sign to bind the Company follows: "Mr. Thitiwat Teerakulthanyaroj Mr. Kitti Phuathavornskul Mr. Somkiat Aramruangkul Miss Kunlanit Sarapab 2 out of 4 directors sign together". The effective is July 7, 2023 onwards. Announcement • Jun 13
Qualitech Public Company Limited Announces Resignation of Pitak Pruitthisarikorn as Chairman of the Board of Directors and Independent Director Qualitech Public Company Limited announced that Mr. Pitak Pruitthisarikorn has resigned from the position of the Chairman of the Board of Directors and Independent Director. The resignation is effective from June 12, 2023 onwards. The company shall conduct the nomination process and appointment of qualified the Chairman of the Board of Directors as a replacement of such vacant positions in due course and will notify the Stock Exchange of Thailand accordingly. Announcement • May 23
Qualitech Public Company Limited Announces Resignation of Nick Thanapoomikul as Director, Member of the Executive Committee and Member of the Risk Management Qualitech Public Company Limited informed that Mr. Nick Thanapoomikul has resigned from the position of Director, Member of the Executive Committee and Member of the Risk Management. The resignation is effective from May 18, 2023 onwards. Reported Earnings • May 19
First quarter 2023 earnings released: ฿0.034 loss per share (vs ฿0.028 profit in 1Q 2022) First quarter 2023 results: ฿0.034 loss per share (down from ฿0.028 profit in 1Q 2022). Revenue: ฿106.7m (up 13% from 1Q 2022). Net loss: ฿3.37m (down 222% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • May 17
Qualitech Public Company Limited Announces Resignation of Chonticha Chitraporn as Independent Director and Chairman of the Audit Committee Qualitech Public Company Limited informed that Miss Chonticha Chitraporn has resigned from the position of Independent Director and Chairman of the Audit Committee due to other missions, unable to perform duties fully. The resignation is effective from May 16, 2023 onwards. The company shall conduct the nomination process and appointment of qualified Independent Director and Chairman of the Audit Committee as a replacement of such vacant positions in due course and will notify the Stock Exchange of Thailand accordingly. Reported Earnings • Nov 20
Third quarter 2022 earnings released: EPS: ฿0.13 (vs ฿0.054 in 3Q 2021) Third quarter 2022 results: EPS: ฿0.13 (up from ฿0.054 in 3Q 2021). Revenue: ฿122.7m (up 15% from 3Q 2021). Net income: ฿13.0m (up 142% from 3Q 2021). Profit margin: 11% (up from 5.0% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 8 new directors. No experienced directors. No highly experienced directors. 2 independent directors (6 non-independent directors). Chief Business Development Officer, Company Secretary & Executive Director Thitiwat Theerakulthanyarot is the most experienced director on the board, commencing their role in 2022. Independent Director Tatchapong Thamputthipong 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. Lack of board continuity. Lack of experienced directors. Announcement • Nov 15
Qualitech Public Company Limited Announces Board Changes Qualitech Public Company Limited submitted the resolution of the Board of Directors' Meeting No. 9/2022 held on November 12, 2022 as follows: To acknowledge and appointed the Risk Management Committee. Mr.Thitiwat Teerakulthanyaroj resigned as the Member of the Risk Management Committee. Approved the appointment of Mr.Tatchapong Thamputthipong to be the Chairman of the Risk Management Committee. Approved the appointment of Miss Kunlanit Sarapab to be the Member of the Chairman of the Risk Management Committee. Appointed the Nomination and Remuneration Committee. Approved the appointment of Assoc. Prof. Dr. Pranya Sakiyalak to be the Chairman of the Nomination and Remuneration Committee. Approved the appointment of Mr.Tatchapong Thamputthipong to be the Member of Nomination and Remuneration Committee. Nomination and Remuneration Committee. Approved the appointment of Mr.Thitiwat Teerakulthanyaroj to be the Member of Nomination and Remuneration Committee. Approved the appointment of Miss Kunlanit Sarapab to be the Member of Nomination and Remuneration Committee. The effective is November 12, 2022 onwards. The Name of the Board of Director and Directors in Sub-Committees are as follow: Mr.Kitti Phuathavornskul: Chairman of the Board of Director/President, Mr.Thitiwat Teerakulthanyaroj: Director/Vice President/Member of the Nomination and Remuneration Committee/The Company's Secretary; Mr.Somkiat Aramruangkul: Director/Member of the Executive Committee/Member of the Risk Management/Chief Executive Officer;Mr.Nick Thanapoomikul: Director/Member of the Executive Committee/Member of the Risk Management/Co-Chief Executive Officer; Miss Chonticha Chitraporn: Independent Director/Chairman of the Audit Committee; Mr.Tatchapong Thamputthipong: Independent Director/Member of the Audit Committee/Member of the Nomination and Remuneration Committee/Chairman of the Risk Management Committee. Assoc. Prof. Dr. Pranya Sakiyalak: Independent Director/Member of the Audit Committee/Chairman of the Nomination and Remuneration Committee; Miss Kunlanit Sarapab: Director /Member of the Executive Committee/Member of the Nomination and Remuneration Committee/Member of the Risk Management. Announcement • Oct 19
Qualitech Public Company Limited Announces Resignation of Pol.Lt.Gen Sompong Chingduang as Company's Director Qualitech Public Company Limited informed to acknowledge the resignation of Pol.Lt.Gen Sompong Chingduang from the position of Company's Director effective on October 17, 2022 onwards. Announcement • Oct 04
Qualitech Public Company Limited Announces Director Changes Qualitech Public Company Limited announced that the Board of Directors Meeting No.8/2022 was held on September 30, 2022 as follows: To acknowledge that Mr.Sannpat Rattakham resigned from the Chairman of the Board of the Directors and Chairman of Executive Committee. Nonetheless, Mr.Sannpat Rattakham will be an advisor to the Executive Committee which is effective from October 1, 2022 onwards. Appointed new directors to replace the directors who have resigned. Approved the appointment of Mr.Kitti Phuathavornskul to be the Chairman of the Board of Director to replace Mr.Sannpat Rattakham. Approved the appointment of Mr. Somkiat Aramruangkul to be a Director to replace Mr.Komjak Rattakham. Approved the appointment of Miss Kunlanit Sarapab to be a Director to replace Mr.Vachara Tuntariyanond. Effective from October 1, 2022 onwards and the term will be the remaining term of resigned directors. Announcement • Sep 28
Qualitech Public Company Limited Acknowledges Resignation of Vachara Tuntariyanond as Director Qualitech Public Company Limited informed to acknowledge the resignation of Mr. Vachara Tuntariyanond from the position of Company's Director effective on September 27, 2022 onwards. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: ฿0.18 (vs ฿0.043 loss in 2Q 2021) Second quarter 2022 results: EPS: ฿0.18 (up from ฿0.043 loss in 2Q 2021). Revenue: ฿99.4m (up 17% from 2Q 2021). Net income: ฿18.1m (up ฿22.4m from 2Q 2021). Profit margin: 18% (up from net loss in 2Q 2021). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Announcement • Aug 03
Qualitech Public Company Limited (SET:QLT) agreed to acquire Property Aim Solutions Company Limited from SP Inter law and Consult Company Limited and TOS Holding Company Limited for THB 145 million. Qualitech Public Company Limited (SET:QLT) agreed to acquire Property Aim Solutions Company Limited from SP Inter law and Consult Company Limited and TOS Holding Company Limited for THB 145 million on August 1, 2022. Qualitech's Board of Directors have approved the deal. Announcement • Aug 02
Qualitech Public Company Limited Appoints Thitiwat Teerakulthanyaroj as Company Secretary The board of directors of Qualitech Public Company Limited at its Meeting held on August 1, 2022 has resolved to approve the appointment of Mr. Thitiwat Teerakulthanyaroj as Company Secretary effective from August 1, 2022 onwards. Announcement • Jul 28
Qualitech Public Company Limited Announces Executive Changes Qualitech Public Company Limited at the directors' meeting No.5/2022 held on July 26, 2022 has resolved and approved the appointment of the Chairman of the Board of Director and Directors in Sub-Committees are as follow: Approved the appointment of Mr.Sannpat Rattakham to be the Chairman of the Board of Director. Approved the appointment of Assoc. Prof. Dr. Pranya Sakiyalak to be the Board of Directors to replace Mr. Supachok Sirichantaradilok and retained for remaining term of the resigned directors and to be the Audit Committee to replace Pol.Lt.Gen Sompong Chingduang who resigns from the position. Approved the appointment of Pol.Lt. Gen Sompong Chingduang to be the Chairman of the Risk Management Committee. Approved the appointment of Mr. Tatchapong Thamputthipong to be the Risk Management Committee. Approved the appointment of Mr. Thitiwat Teerakulthanyaroj to be the Risk Management Committee. Approved the appointment of Mr. Nick Thanapoomikul to be the Risk Management Committee. Approved the appointment of Mr. Somkiat Aramruangkul to be the Risk Management Committee. The effective is July 26, 2022 onwards. Announcement • Jul 26
Qualitech Public Company Limited Announces Resignation of Komjak Rattakham from the Position of Company's Director and Secretary Qualitech Public Company Limited informed to acknowledge the resignation of Mr. Komjak Rattakham from the position of Company's Director and Secretary effective on August 1, 2022 onwards. Announcement • Jun 04
Qualitech Public Company Limited Announces Resignation of Supachok Sirichantaradilok as Director Qualitech Public Company Limited informed to acknowledge the resignation of Mr. Supachok Sirichantaradilok from the position of Company's Director effective on May 31, 2022 onwards. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improved over the past week After last week's 16% share price gain to ฿7.65, the stock trades at a trailing P/E ratio of 68.1x. Average trailing P/E is 24x in the Energy Services industry in Asia. Total returns to shareholders of 139% over the past three years. Reported Earnings • May 19
First quarter 2022 earnings released: EPS: ฿0.028 (vs ฿0.017 loss in 1Q 2021) First quarter 2022 results: EPS: ฿0.028 (up from ฿0.017 loss in 1Q 2021). Revenue: ฿94.1m (up 4.4% from 1Q 2021). Net income: ฿2.77m (up ฿4.47m from 1Q 2021). Profit margin: 2.9% (up from net loss in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Announcement • May 18
Qualitech Public Company Limited Board Changes Qualitech Public Company Limited Qualitech Public Company Limited, at its board meeting held on May 14, 2022, approved the appointment of Mr. Tatchapong Thamputthipong to hold the position of Independent Director and Member of the Audit Committee to replace Mr. Tinakorn Seedasomboon who will be retired by rotation effective from May 14, 2022, onward, acknowledged the resignation Mr. Somchai Jongsirilerd effective from May 17, 2022 andappoint Miss Chonticha Chitraporn to hold the position of Independent Director and Chairman of the Audit Committee effective from May 17, 2022, onward. The term will be the remaining term of the resigned director. Acknowledged the resignation Mr. Somyos Chiamchirungkorn effective from May 17, 2022 and appoint Pol.Lt.Gen Sompong Chingduang to hold the position of Independent Director and Member of the Audit Committee effective from May 17, 2022, onward. The term will be the remaining term of the resigned director. Appointed Mr. Nick Thanapoomikul to hold the position of the Director and Member of Executive Committee to replace Mr. Domdej Sripinproach effective from May 17, 2022, onward. Appointed Mr. Somkiat Aramruangkul to hold the position of the Member of Executive Committee effective from May 17, 2022, onward. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Somchai Jongsirilerd was the last independent director to join the board, commencing their role in 2013. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 29
Qualitech Public Company Appoints Somkiat Aramruangkul as Chief Executive Officer, Effective from April 1, 2022 Qualitech Public Company Limited announced that the company has appointed Mr. Somkiat Aramruangkul to be the Chief Executive Officer, effective from April 1, 2022 onward. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ฿5.25, the stock trades at a trailing P/E ratio of 78.3x. Average trailing P/E is 18x in the Energy Services industry in Asia. Total returns to shareholders of 53% over the past three years. Upcoming Dividend • Feb 21
Upcoming dividend of ฿0.20 per share Eligible shareholders must have bought the stock before 28 February 2022. Payment date: 28 April 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.0%. Lower than top quartile of Thai dividend payers (5.0%). Higher than average of industry peers (1.7%). Announcement • Feb 15
Qualitech Public Company Limited, Annual General Meeting, Apr 05, 2022 Qualitech Public Company Limited, Annual General Meeting, Apr 05, 2022, at 14:30 Singapore Standard Time. Location: Salon B Room, Floor 2, Swissotel Bangkok Ratchada Bangkok Thailand Agenda: To consider and certify Minutes of the Annual General Shareholder's Meeting for the year 2021; to acknowledge the 2021 business operating performance report of the company; to consider and approve the Company's audited financial statement for the year ended 2021; to consider and approve the allocation of profit for the year 2021 and dividend payment; to consider and approve the director's remuneration for year 2022; and to consider other matters. Reported Earnings • Feb 15
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: ฿0.067 (down from ฿0.32 in FY 2020). Revenue: ฿389.7m (down 7.6% from FY 2020). Net income: ฿6.61m (down 79% from FY 2020). Profit margin: 1.7% (down from 7.5% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.4%. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS ฿0.054 (vs ฿0.001 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ฿106.4m (up 4.7% from 3Q 2020). Net income: ฿5.35m (up ฿5.28m from 3Q 2020). Profit margin: 5.0% (up from 0.1% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 21
Second quarter 2021 earnings released: ฿0.043 loss per share (vs ฿0.002 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: ฿84.6m (down 7.0% from 2Q 2020). Net loss: ฿4.29m (down ฿4.52m from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • May 17
First quarter 2021 earnings released: ฿0.017 loss per share (vs ฿0.083 profit in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: ฿90.1m (down 20% from 1Q 2020). Net loss: ฿1.70m (down 121% from profit in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Mar 05
New 90-day high: ฿4.64 The company is up 13% from its price of ฿4.10 on 04 December 2020. The Thai market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 7.0% over the same period. Reported Earnings • Feb 23
Full year 2020 earnings released: EPS ฿0.32 (vs ฿0.52 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ฿421.5m (down 12% from FY 2019). Net income: ฿31.5m (down 38% from FY 2019). Profit margin: 7.5% (down from 11% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Feb 23
Qualitech Public Company Limited, Annual General Meeting, Apr 08, 2021 Qualitech Public Company Limited, Annual General Meeting, Apr 08, 2021, at 13:30 SE Asia Standard Time. Location: Salon B Room, Floor 2, Swissotel Bangkok Ratchada Bangkok Thailand Agenda: To consider and certify minutes of the annual general shareholder's meeting for the year 2020; to acknowledge the 2020 business operating performance report of the company; to consider and approve the company's audited financial statement for the year ended 2020; to consider and approve the retained earnings appropriation for year 2020 and dividend payment; and to discuss other matters. Is New 90 Day High Low • Dec 08
New 90-day high: ฿4.52 The company is up 10.0% from its price of ฿4.12 on 09 September 2020. The Thai market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Energy Services industry, which is up 1.0% over the same period. Reported Earnings • Nov 25
Third quarter 2020 earnings released: EPS ฿0.001 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ฿101.6m (down 20% from 3Q 2019). Net income: ฿69.0k (down 100% from 3Q 2019). Profit margin: 0.1% (down from 14% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 14
New 90-day low: ฿3.94 The company is down 4.0% from its price of ฿4.12 on 16 July 2020. The Thai market is down 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Energy Services industry, which is down 3.0% over the same period.