New Risk • May 13
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 (฿159.9m market cap, or US$4.94m). Minor Risk Revenue is less than US$5m (฿75m revenue, or US$2.3m). Duyuru • Mar 12
Fancy Wood Industries Public Company Limited, Annual General Meeting, Apr 28, 2026 Fancy Wood Industries Public Company Limited, Annual General Meeting, Apr 28, 2026, at 09:30 SE Asia Standard Time. Location: cdc ballroom, crystal design center (cdc), 888 pradit manutham road, khlong chan, bang kapi, bangkok 1024, bangkok Thailand New Risk • Mar 02
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 9.4% 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 (9.4% average weekly change). Market cap is less than US$10m (฿153.8m market cap, or US$4.89m). Minor Risk Revenue is less than US$5m (฿75m revenue, or US$2.4m). Reported Earnings • Mar 02
Full year 2025 earnings released: ฿0.007 loss per share (vs ฿0.022 profit in FY 2024) Full year 2025 results: ฿0.007 loss per share (down from ฿0.022 profit in FY 2024). Revenue: ฿74.5m (down 28% from FY 2024). Net loss: ฿4.10m (down 130% from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Feb 25
Now 22% undervalued Over the last 90 days, the stock has risen 3.3% to ฿0.31. The fair value is estimated to be ฿0.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 45% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Jan 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to ฿0.31. The fair value is estimated to be ฿0.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 45% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Dec 16
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 25% to ฿0.30. The fair value is estimated to be ฿0.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 45% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ฿0 (vs ฿0.004 in 3Q 2024) Third quarter 2025 results: EPS: ฿0 (down from ฿0.004 in 3Q 2024). Revenue: ฿23.0m (down 27% from 3Q 2024). Net income: ฿45.9k (down 98% from 3Q 2024). Profit margin: 0.2% (down from 7.7% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Sep 30
Now 21% undervalued Over the last 90 days, the stock has risen 16% to ฿0.37. The fair value is estimated to be ฿0.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 44% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Sep 25
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 6.8% 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 (฿233.7m market cap, or US$7.27m). Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (4.2% net profit margin). Revenue is less than US$5m (฿80m revenue, or US$2.5m). Buy Or Sell Opportunity • Aug 20
Now 24% undervalued Over the last 90 days, the stock has risen 5.9% to ฿0.36. The fair value is estimated to be ฿0.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 44% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Aug 16
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.2% Last year net profit margin: 10% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (฿221.4m market cap, or US$6.82m). Minor Risks Profit margins are more than 30% lower than last year (4.2% net profit margin). Revenue is less than US$5m (฿80m revenue, or US$2.5m). Buy Or Sell Opportunity • Jul 02
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 26% to ฿0.32. The fair value is estimated to be ฿0.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 40% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Jun 04
Now 22% undervalued The stock has been flat over the last 90 days, currently trading at ฿0.32. The fair value is estimated to be ฿0.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 40% over the last 3 years. Meanwhile, the company has become profitable. Duyuru • Apr 24
Fancy Wood Industries Public Company Limited Resolves to Appoint Kosin Homcharoen to the Position of Director of the Company Fancy Wood Industries Public Company Limited resolved to appoint Mr. Kosin Homcharoen to the position of director of the company. New Risk • Apr 04
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 (฿264.5m market cap, or US$7.75m). Minor Risk Revenue is less than US$5m (฿103m revenue, or US$3.0m). Duyuru • Mar 14
Fancy Wood Industries Public Company Limited, Annual General Meeting, Apr 24, 2025 Fancy Wood Industries Public Company Limited, Annual General Meeting, Apr 24, 2025, at 09:30 SE Asia Standard Time. Location: branch office 2 of the company, no., 22 soi pradit manutham 23, pradit manutham road, lad phrao subdistrict, lat phrao district, bangkok 10230 Thailand Reported Earnings • Mar 02
Full year 2024 earnings released: EPS: ฿0.022 (vs ฿0.012 loss in FY 2023) Full year 2024 results: EPS: ฿0.022 (up from ฿0.012 loss in FY 2023). Revenue: ฿103.3m (down 13% from FY 2023). Net income: ฿13.8m (up ฿20.9m from FY 2023). Profit margin: 13% (up from net loss in FY 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. New Risk • Feb 26
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 9.5% 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 (9.5% average weekly change). Market cap is less than US$10m (฿203.0m market cap, or US$6.01m). Minor Risk Revenue is less than US$5m (฿103m revenue, or US$3.0m). Reported Earnings • Nov 14
Third quarter 2024 earnings released: EPS: ฿0.004 (vs ฿0 in 3Q 2023) Third quarter 2024 results: EPS: ฿0.004 (up from ฿0 in 3Q 2023). Revenue: ฿31.3m (up 62% from 3Q 2023). Net income: ฿2.40m (up ฿2.47m from 3Q 2023). Profit margin: 7.7% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 11
Second quarter 2024 earnings released: EPS: ฿0.005 (vs ฿0.003 loss in 2Q 2023) Second quarter 2024 results: EPS: ฿0.005 (up from ฿0.003 loss in 2Q 2023). Revenue: ฿26.9m (up 21% from 2Q 2023). Net income: ฿3.03m (up ฿5.17m from 2Q 2023). Profit margin: 11% (up from net loss in 2Q 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: ฿0.008 (vs ฿0.01 loss in 1Q 2023) First quarter 2024 results: EPS: ฿0.008 (up from ฿0.01 loss in 1Q 2023). Revenue: ฿22.8m (down 59% from 1Q 2023). Net income: ฿4.91m (up ฿11.1m from 1Q 2023). Profit margin: 22% (up from net loss in 1Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Duyuru • Mar 15
Fancy Wood Industries Public Company Limited, Annual General Meeting, Apr 29, 2024 Fancy Wood Industries Public Company Limited, Annual General Meeting, Apr 29, 2024, at 09:30 SE Asia Standard Time. Location: Branch Office 2 of the Company, No. 22 Soi Pradit Manutham 23, Pradit Manutham Road, Lad Phrao Subdistrict, Lat Phrao District, Bangkok Thailand Agenda: To consider and certify minutes of the Annual General Meeting for 2023 dated April 28th, 2023; to acknowledge the overall operations of the Company for 2023; to consider and approve the profit and loss statement of the company for the financial year ended December 31st, 2023, which has been audited by the auditors; to consider and approve the stop payment for annual dividend for 2023; and to consider other matters. Reported Earnings • Mar 01
Full year 2023 earnings released: ฿0.012 loss per share (vs ฿0.10 loss in FY 2022) Full year 2023 results: ฿0.012 loss per share (improved from ฿0.10 loss in FY 2022). Revenue: ฿118.8m (down 53% from FY 2022). Net loss: ฿7.08m (loss narrowed 89% from FY 2022). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. New Risk • Dec 01
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 9.1% 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 (9.1% average weekly change). Market cap is less than US$10m (฿270.6m market cap, or US$7.71m). Minor Risk Revenue is less than US$5m (฿149m revenue, or US$4.3m). Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: ฿0 (vs ฿0.017 loss in 3Q 2022) Third quarter 2023 results: EPS: ฿0 (improved from ฿0.017 loss in 3Q 2022). Revenue: ฿19.3m (down 68% from 3Q 2022). Net loss: ฿73.1k (loss narrowed 99% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 12
Second quarter 2023 earnings released: ฿0.003 loss per share (vs ฿0.024 loss in 2Q 2022) Second quarter 2023 results: ฿0.003 loss per share (improved from ฿0.024 loss in 2Q 2022). Revenue: ฿22.2m (down 68% from 2Q 2022). Net loss: ฿2.14m (loss narrowed 86% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 3% per year. New Risk • Jul 26
New major risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ฿344.4m (US$10.0m) 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: Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (฿344.4m market cap, or US$10.0m). Reported Earnings • Nov 20
Third quarter 2022 earnings released: ฿0.017 loss per share (vs ฿0.015 loss in 3Q 2021) Third quarter 2022 results: ฿0.017 loss per share (further deteriorated from ฿0.015 loss in 3Q 2021). Revenue: ฿60.8m (up 3.3% from 3Q 2021). Net loss: ฿10.3m (loss widened 10.0% from 3Q 2021). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
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. 2 independent directors (5 non-independent directors). Independent Director Thawatchai Samutsakhon was the last independent director to join the board, commencing their role in 2018. 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 • May 15
First quarter 2022 earnings released: ฿0.021 loss per share (vs ฿0.024 loss in 1Q 2021) First quarter 2022 results: ฿0.021 loss per share (up from ฿0.024 loss in 1Q 2021). Revenue: ฿68.4m (up 24% from 1Q 2021). Net loss: ฿13.1m (loss narrowed 11% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. 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. 2 independent directors (5 non-independent directors). Independent Director Thawatchai Samutsakhon was the last independent director to join the board, commencing their role in 2018. 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: Revenues and EPS in line with analyst expectations Full year 2021 results: ฿0.10 loss per share (down from ฿0.076 loss in FY 2020). Revenue: ฿209.8m (down 18% from FY 2020). Net loss: ฿61.3m (loss widened 30% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 18
Second quarter 2021 earnings released: ฿0.026 loss per share (vs ฿0.019 loss in 2Q 2020) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: ฿51.0m (down 23% from 2Q 2020). Net loss: ฿18.0m (loss widened 52% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • May 17
First quarter 2021 earnings released: ฿0.02 loss per share (vs ฿0.021 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: ฿57.2m (down 5.3% from 1Q 2020). Net loss: ฿14.7m (loss widened 16% from 1Q 2020). 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 2% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 23
Full year 2020 earnings released: ฿0.08 loss per share (vs ฿0.15 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: ฿255.3m (down 5.0% from FY 2019). Net loss: ฿47.0m (loss narrowed 49% from FY 2019). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 19
New 90-day high: ฿0.76 The company is up 58% from its price of ฿0.48 on 20 November 2020. The Thai market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 11% over the same period. Is New 90 Day High Low • Jan 12
New 90-day high: ฿0.71 The company is up 48% from its price of ฿0.48 on 14 October 2020. The Thai market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 9.0% over the same period. Is New 90 Day High Low • Dec 16
New 90-day high: ฿0.52 The company is up 13% from its price of ฿0.46 on 17 September 2020. The Thai market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 15% over the same period. Reported Earnings • Nov 11
Third quarter 2020 earnings released: ฿0.01 loss per share The company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: ฿71.5m (up 35% from 3Q 2019). Net loss: ฿8.29m (loss narrowed 65% from 3Q 2019). 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 36% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Sep 25
New 90-day low: ฿0.45 The company is down 25% from its price of ฿0.60 on 26 June 2020. The Thai market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is flat over the same period. 
