Mr. Ongart Thamrongsakunvong
In last year, the Thai economy as well as the global economy, has faced a crisis from the coronavirus (COVID-19) pandemic outbreak that caused difficulties in our livelihood, well-being, society and direct impact on all sectors of the industry including production, import and export and business opportunities inevitably. The Company has also been affected by this crisis.

The Company group's core revenues still come from the automotive industries and services. There has been a slowdown and temporary halt to production due to the COVID-19 crisis situation in the early through middle of last year. However, production resumed in the second half of 2021 as many automakers have adapted themselves for survival and many new models have been launched in the market lately.

However, the Company has decided to formulate the strategic plans focusing on further development of products from the genuine leather business to diversify the risks of the business. Therefore, we have initiated an entry into the leather shoes market, leather furniture, dog chews and protein for agricultural goods. The company expects that the proportion of these non-automotive businesses will grow up and generate the core revenues for the organization gradually.

The leather for footwear business is a highly competitive market both domestically and internationally. In last year, the Company has entered into the leather shoes market, focusing on chrome-free leather for the shoes industry, which is a strength of the Company since we are able to produce leather from start to finished ready-to-use products. That can meet the real needs of many customers those who require the environment friendly materials to produce for their products. The Company has got the excellent feedback from customers and is more likely to order. This year, the Company plans to develop the production process to be more standardized and efficient, while increasing production capacity to meet the needs of customers in both domestic and overseas market.

We have taken the initiative into the leather furniture market, a business that has recovered in the midst of a recession in the wake of covid-19 in 2020-21 and is considered a big market. We have spent most of 2021 trying to reach the new group of customers that we believe they will order more leather furniture in 2022. This has made the leather furniture business as one of our main businesses in future.

Obviously, we also focus on inventing ways to produce products that will not cause much industrial waste. Since most of the tanning industry produces a lot of hazardous waste. Therefore, the Company wants to be a leader in environmental conservation for the tanning industry. We have continued to invest in reducing waste and processing industrial waste. This led to the expansion of products for dog chews snack business, proteins from leather scrap, which are considered as industrial waste that can be reused in various aspects such as bleaching and agricultural industry, etc. We hope to expand the market in the agricultural industry, which is an innovative Thai agricultural in 2022.

The Company remains committed to developing products and services that can respond to the needs of customers continuously and in time. Modern technologies have been introduced to enhance capacity and reduce costs at the same time, as well as focus on doing business of the Company in strict accordance with the good governance principles and is an organization that focuses on social and environmental responsibility seriously and continuously.

Finally, on behalf of the Company, thank you to all patrons, customers, shareholders, employees, financial institutions and producers of raw materials and products for their contribution to supporting sustainable business growth and building a warm family. Always caring about the environment.

Let's work together to overcome this crisis and grow together.