Chairman’s Statement

The Board of Directors of K.W. Metal Work Public Company Limited would like to thank all shareholders for their trust. and always support the Company's operations. Although the company can benefit and grow from the pandemic. Coronavirus disease 2019 (Covid-19) during the year 2021 and continued until the first half of the year 2022. However, in the second half of the year, the situation turned around. The company's revenue declined. This is due to the following reasons

1. Farmers face the problem of cost of farming. from the problem of more expensive fertilizer prices due to the war between Russia and Ukraine As a result, farmers tend to slow down their purchase of agricultural equipment. In addition, the problem of inflation is increasing. Pressure on purchasing power of farmers

2. The group of customers of the company that produces products for Siam Kubota Corporation Co., Ltd. has increased the level of product hoarding. more since the year 2021 with a lot of orders coming in As a result, the company's products remain in the warehouse of many customers. in the second half of the year 2022 where the situation begins to change Every customer needs to discharge the products in their own warehouse first, resulting in a significant decrease in the number of customers ordering from the company. Especially in the third quarter of the year

" Continuous product development
Conduct business with good governance
and social responsibility and environment on a regular basis."

3. Flood situation in the Northeastern region The Northeastern region is the largest agricultural area in Thailand. When floods occur, resulting in a large amount of damage to crops, especially rice. The volume of orders for new rice harvesters or harvester spare parts from Thai farmers has decreased. Spiral blades, which are the company's products used in combine harvesters, are therefore affected.

However, at the end of the fourth quarter, the situation began to relax and the demand for agricultural equipment began to increase due to the beginning of the planting season. And the company expects to continue to be good until the first half of the year 2023

The income of that company in the past has only been income from sales in Thailand. And although the company still relies mostly on the income from Siam Kubota.But the company has focused on increasing the proportion of selling its brand products through online channels in 2022, resulting in increased revenue from online channels. and the company expects that in the following years online revenue share will add more every year The company focuses on marketing activities along with selling through online channels. Let customers know More company brands And understand the difference in quality of the company compared to other brands in the market.

In the year 2022, the company has started to open foreign markets. Starting from Laos and Vietnam, Laos is an agricultural country. Most of the population is engaged in agriculture. And also the terrain is similar to Thailand, so the equipment used is the same as that of Thai farmers. But farmers in Laos prefer to use large products that are hard. It is very strong and needs to be highly durable because most of the ground is quite hard. The company's high quality products are suitable forAgriculture in Laos is huge. The company has started selling products to Laos in the second half of 2022 and will grow further in 2023. Vietnam is the world's top rice exporter. The market for agricultural equipment is huge. Topography is similar to Thailand as well. but is different from LaosFarmers in Vietnam prefer to use smaller equipment that is suitable for areas where the land is not very hard. The company has started By going to trade shows, studying the market and studying potential big customers. The company expects to start earning revenue from Vietnam in 2023. In summary, the company currently plans to expand first to neighboring countries and later to study other agricultural countries in Asia or other continents respectively. next

Finally, the Board of Directors would like to thank all shareholders, business partners, customers and financial institutions for supporting the operation. of the company all along In addition, I would like to thank all executives and employees for their dedication to work for the company. The company will try to create growth, increase market share. Continuous product development In addition, it operates with good governance. and responsibility to society and the environment on a regular basis