In 2023, although the COVID-19 pandemic has passed its peak and its severity has significantly decreased, the global economic recovery remains sluggish. This challenge is exacerbated by the escalating tensions in international politics. Geopolitics conflicts are not merely disturbances to global stability; they also exert a profound influence on economies worldwide, including that of Thailand. In 2023, Thailand's economic growth expanded by only 1.9 percent, marking a slowdown from the previous year's growth rate of 2.5 percent. This deceleration was further compounded by the impact of global supply chain disruptions, which led to increased raw material costs and shortages across various industries worldwide. Operating businesses under the aforementioned external factors presents significant challenges. Through efficient management and strategic planning, the Company achieved a net profit of THB1,924 million and managed to expand its market share in 2023.

In addition to managing business operations for profitability, the Company is also committed to conducting business sustainably, in response to the interests of all stakeholders. This includes conducting sustainability materiality assessments, setting targets, developing strategies, and collaborating to advance various sustainable initiatives. As a result, the Company attained notable recognition in 2023, being listed in the S&P Global Sustainability Yearbook 2024 and consistently ranked in the SET ESG Rating. These accolades significantly bolster investor confidence. Moreover, the Company demonstrates its commitment to sustainability by proactively addressing climate change, including the collection and analysis of data on greenhouse gas emissions both Carbon Footprint Organization (CFO) and Carbon Footprint Product (CFP), which undergo international standard auditing and verification. In addition to efforts aimed at reducing greenhouse gas emissions, the Company is actively developing and implementing sustainable solutions for reducing packaging and packaging circularity.

The Company also acknowledges the significance of its employees by fostering knowledge to enhance performance, prioritizing their occupational health, safety, and overall well-being. Moreover, the Company recognizes the importance of enhancing the quality of life in communities by supporting sports initiatives in schools and individuals nationwide, such as the Coach-the-Coaches and 7-a-side Cup programs. Furthermore, the "Baodang Builds Career" initiative distributes taxis and motorcycles to empower Thai individuals, aligning with the Company's sustainability goals of "Building a Society of Opportunities for a Brighter Living.”

Lastly, on behalf of the Chairman of the Board of Directors, I extend heartfelt gratitude to all stakeholders for their unwavering support. A special thank you to our dedicated executives and employees for their tirelessly efforts in overcome economic challenges. With our collective cooperation, we are poised for even greater success and sustainable growth ahead.

MISS NUTCHAMAI THANOMBOONCHAROEN

Chairman of the Board of Director