Message from Corporate Board Chairman

Dear Shareholders

The past year 2022 was another challenging year for the company's operations. The Coronavirus pandemic had continued from the year before and affected the company's activities in terms of sales, marketing, production and internal management. In this regard, the company has adapted its business strategies to minimize the impact, applied various technologies in business activities, such as in communications between company and distributors and also within the company itself. Meanwhile, the company still implemented measures to control the outbreak of the virus strictly and constantly.

In addition, a factor that severely deteriorates the company's performance was the sharp increase in raw material prices due to the crises of the Russian-Ukrainian conflict. The price of all kinds of raw materials rose at least 2-3 times compared to the previous year and was the highest raw material price ever recorded. Regarding this subject, the company was greatly affected since the company was unable to increase the selling price as chemical fertilizer is subject to price control according to The Price of Goods and Services Act B.E.2542 (1999). As a result, the company's performance showed a loss in the beginning of the year.

Although the company was allowed to adjust the product price ceiling in the middle of the year, enables the company to sell products at prices that reflect actual costs, the company still had to implement a strict cost management policy in order to compensate for the losses incurred and to maximize profits for shareholders. At the end of 2022, the company's performance showed lower profits than the previous year. The profit attributable to the parent company amounted to 754 million baht, a decrease of 47 percent compared to 2021, representing an earnings of 1.43 baht per share.

In 2023, there will be significant progress for the company. That is, the Board of Directors has proposed to the Annual General Meeting of shareholders to consider the delisting of the company's shares from being listed on the Stock Exchange of Thailand (SET). Details of this transaction will be presented to the shareholders later.

With reference to the aforementioned progress, regardless of the outcome of the consideration of the Annual General Meeting of shareholders, the duties and responsibilities of the company remain unchanged. That is, the delivery of high-quality products to customers in order to maximize the productivity of cultivation. It also includes the duty of carrying out public accountability concerning all groups of stakeholders, whether they are trading partners, dealers, communities or employees. The company will definitely continue to adhere to and strive to operate according to the company's vision, which is to be “The First Choice of Growers”