The Company remains committed to further expanding the clean energy business and is committed to conducting businesses with the countries with growth potential, both in the countries in which we now operate and in others for sustainable long-term growth. In 2023, our Sermsang Group faced challenges from the weakening of domestic and foreign economy, rise of global interest rates, as well as measures to control electricity charges in Thailand at the end of the year and the expiry of BOI tax benefits of SPN solar power also affected the Company’s overall operating results. However, wind power plants in Vietnam performed better compared to the same period in the previous year. Moreover, the Company recognized profit sharing from full-year investments in subsidiaries and associates of the Romklao Wind Farm Project, resulting in revenues from sales and services of 3,071.9 million baht and a core operating profit of 862.3 million baht. Overall, 2023 is the year in which the Company continues to expand its business despite facing volatile economic conditions. In April, the Company was selected to offer renewable electricity in Thailand during 2025-2030 with a total project of 170.5 MW. In the same month, we acquired 13% shares of TTQN, a solar power plant in Vietnam, resulting in 100% shareholding. Moreover, in July, the Company invested in flexible packaging business with Samart Plastpack Co., Ltd. with a 75 percent stake. In October, the Company’s board of directors approved further investment in Winchai Co., Ltd., a wind power plant in Thailand, by acquiring 75% of the shares, resulting in 100% holding. Furthermore, we also expanded to solar rooftop business by 4.4 megawatts in both Thailand and Indonesia, resulting the Company reported a 245 equity megawatts PPA at the end of 2023. In addition, the Company remains committed to further expanding the clean energy business and is committed to conducting businesses with the countries with growth potential, both in the countries in which we now operate and in others for sustainable long-term growth. All these successes would not be possible without the cooperation, trust, and support of various parties, including the board of directors, shareholders, business partners, employees, and all sectors. I would like to express my gratitude to all of you for your commitment, dedication, and support. The Company will continue to pursue its goal to create real value for all stakeholders. Mr.Varut Tummavaranukub Chief Executive Officer
