The Company

Economic and Industry Overview

In 2025, the global economy continues to face uncertainty and structural volatility due to persistently high interest rates, geopolitical tensions, and changes in international trade policies, which affect global supply chains and industrial sector investment. Concurrently, the global automotive industry is undergoing a structural transformation, particularly with the accelerated development of electric vehicles, leading to changes in technology, competitive structures, and business models within the industry.

For Thailand, the automotive industry continues to face pressure from a gradually recovering domestic purchasing power, high household debt levels, and the strictness of financial institutions in approving car loans. At the same time, price competition from imported electric vehicles, especially from China, has significantly increased and is competing for market share in internal combustion engine vehicles, which will impact the supply chain of the Thai automotive parts industry.

The company’s performance and organizational strength

Within the context of a still volatile industry, Thai Rung Union Car Public Company Limited continues to operate cautiously and focuses on strengthening organizational flexibility along with maintaining financial discipline. In the year 2025, the company has total revenue of 2,076 million baht, decreased by 19% from the previous year, due to the slowdown in the Thai automotive industry and industrial machinery industry, resulting from the global economic slowdown and uncertainty in trade policies.

However, the company has been able to maintain profitability at a good level, with a net profit of 275 million baht or a net profit margin of 13%, reflecting efficiency in cost management, expense control, and effective resource management.

Future Business Direction

The Board of Directors aims to drive the organization towards sustainable growth and strengthening long-term competitiveness through key strategies as follows:

1. The development of multi-purpose vehicles and purpose-built vehicles (Purpose Built Vehicle: PBV) to meet specific customer needs and expand market opportunities both domestically and internationally.
2. Expanding the business base in the industrial machinery group (Industrial Machinery), which is a high-value-added business and has good growth potential, helping to balance the revenue structure and reduce volatility in the automotive industry.
3. Leveraging the potential of the Free Zone (Free Zone) as a production base for export to enhance competitiveness and support integration into the Global Supply Chain.
4. Expanding opportunities for parts manufacturing in the EV Value Chain and new industries (New S-Curve), such as components for Data Infrastructure, Medical Equipment, and Robotics industries, by fostering collaboration with business partners to address Megatrends and create new growth in the future.

Sustainable business operations

The company prioritizes conducting business under the principles of good corporate governance and management of Environmental, Social, and Governance (ESG) to create a balance between business growth and social and environmental responsibility. This is done by aiming to elevate CGR standards continuously, while setting goals to reduce the organization’s greenhouse gas emissions (CFO) down by 5% through enhancing energy efficiency and improving production processes to be more effective, in order to support environmentally friendly business operations and to strive towards carbon neutrality (Carbon Neutrality) in the future.

On behalf of the Board of Directors, I would like to thank shareholders, customers, partners, business alliances, government and private agencies, as well as all executives and employees who have collectively driven the organization through the industry’s challenges over the past year. The Board of Directors is confident that with strong business fundamentals, engineering expertise, and continuous strategic adaptation, the company will be able to create long-term value for shareholders and stakeholders while driving the organization towards sustainable growth in the future.