The year 2025 marked an important milestone in demonstrating the resilience of the Company’s new business model, following the restructuring of its operation and strategic realignment to adapt to evolving financial and market conditions. The Company has strategically placed greater focus on the factory buildings and warehouse segment, which continues to show strong growth potential and provides stable and recurring income. In contrast, the residential real estate sector has continued to face a prolonged slowdown.

At the same time, both domestic and global developments have encountered significant volatility which have inevitably affected the Company’s business plans. These include domestic political uncertainty, severe flooding in the south, tensions along the Thailand–Cambodia border, global trade disputes and tariff measures from the United States, as well as geopolitical conflicts in the Middle East involving the United States, Israel, and Iran. All these factors have directly impacted on the economic environment, investment climate, and overall confidence in production and consumption within the country.

Despite these challenges, the Company remains well prepared to navigate and respond to uncertainties and manage the various changes and risks that may affect its operations. This is to ensure that the Company continues to progress steadily toward its long-term strategic business objectives.

On behalf of the Board of Directors and the management, I would like to express our sincere appreciation to our shareholders, investors, financial institutions, business partners, and all stakeholders for their continued trust and support of M.K. Real Estate Development Public Company Limited. I would also like to thank all executives and employees for their dedication, professionalism, and unwavering commitment, particularly during some of the most challenging periods faced by the Company.

Finally, please be assured that the Company remains firmly committed to conducting its business with integrity, dedication and in accordance with good corporate governance, while strengthening the organization’s foundation, generating sustainable income and driving the Company toward long-term, stable, and sustainable growth.