Dr. Somboon Aueatchasai
Chief Executive Officer

Dear our Shareholders, Gunkul Engineering Public Company Limited

For over 12 years, Gunkul Engineering Public Company Limited have been stepping into the clean energy business under the change and fluctuation all over the world, the challenges of global economy, the higher energy prices, and climate change crisis. However, the Company insists and believes in the “GROWTH”, corporate culture that will strive to develop the business to grow continuously.

As mentioned above, 2022 is a very important year for the Company, which is committed and dedicated to be a leader in the renewable energy business and equipment and integrated electrical systems. With the cutting-edge technology and innovation, the Company earned the profit share of more than 3,010.51 million baht or an increase of 35.04% in 2022 from the sales of electrical equipment such as gas switch, and surge arrester, etc. In addition, the Company also gained the profit share from investments in associates and joint ventures with domestic and foreign partners such as SCB10X, Origin, JMart, Singer, Pruksa, Gulf, and others, was more than 510.64 million baht. This is to create the energy technology business ecosystem growth by collaborating, growing and combining strengths to build energy sustainability and develop new technologies for customers to choose and have more energy options. Thus, clean energy can be more widely available and used in the future.

The Company is also determined to participate in the development of Thailand's energy infrastructure to strengthen and grow sustainably through investment in electrical equipment product development to meet and cover the needs of customer groups broadly along with business development and energy innovation in accordance with Thailand's policies and commitments at the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26) that Thailand will achieve carbon neutrality in 2050. This includes the Company's participation in the bidding for a solar and wind power project under the Power Development Plan (PDP), which has announced the purchase of approximately 5,200 megawatts of renewable energy in line with the Company's goal of increasing production capacity to 1,000 megawatts by 2023. This year, the Company is also leveraging its existing corporate resources to expand its investment into a complete hemp and cannabis business group, from inflorescences to CBD extracts for medical use.

Based on the above key factors, 2023 is the year when all sectors must work together and focus on building energy security while protecting the environment and reducing greenhouse gas emissions to achieve carbon neutrality goals, of which the energy sector accounts for 70%. For this reason, it is an opportunity and an important step for "GUNKUL" to become a leader and grow with the upcoming trends in 2023, both in the public and private sectors under 1. Renewable Energy Power Plant Business. 2. Energy and Technology Business 3. Electrical Equipment Manufacturing and Sales Business 4. Engineering, Procurement and Construction (EPC) Business, which respond to the Power Development Plan (PDP), including the expansion of infrastructure development of other countries such as the development of the Eastern Economic Corridor (EEC), high-speed railway projects, power system development plan, communication system, and private industrial expansion, etc., which the Company views as an important opportunity for sustainable growth and progress in the next 3-5 years.

Throughout the year 2022, on behalf of the Board of Directors, executives and employees of Gunkul Engineering Public Company Limited. The Company is extremely honored and grateful to the shareholders, financial institutions, business partners, customers, government agencies, community enterprises, and all stakeholders who have placed their trust and cooperation to drive the Company's business forward and grow steadily.

In order to create maximum benefits for all stakeholders in the future, the Company adhere to the principles of good management, good corporate governance, being a transparent organization, and being aware of its responsibility to the economy, society, and environment.