Cal-comp Electronics (thailand) Public Co., Ltd.SET: CCET

2025 Q1 Consolidated Interim Financial Statements

May 15, 2025 at 6:45 AM UTC · Issued by Cal-comp Electronics (thailand) Public Co., Ltd.

Cal-Comp Electronics (Thailand) Public Company Limited and its subsidiaries

Review report and consolidated and separate financial information

For the three-month period ended 31 March 2025

Independent Auditor's Report on Review of Interim Financial Information

To the Shareholders of Cal-Comp Electronics (Thailand) Public Company Limited

I have reviewed the accompanying consolidated financial information of Cal-Comp Electronics (Thailand) Public Company Limited and its subsidiaries ("the Group"), which comprises

the consolidated statement of financial position as at 31 March 2025, and the related consolidated statements of income, comprehensive income, changes in shareholders' equity, and cash flows for the three-month period then ended, which are presented in US Dollar and Baht, as well as

the condensed notes to the interim consolidated financial statements. I have also reviewed the separate financial information of Cal-Comp Electronics (Thailand) Public Company Limited

for the same period (collectively "the interim financial information"). Management is responsible for the preparation and presentation of this interim financial information in accordance with Thai Accounting Standard 34 Interim Financial Reporting. My responsibility is to express

a conclusion on this interim financial information based on my review.

Scope of Review

I conducted my review in accordance with Thai Standard on Review Engagements 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review

procedures. A review is substantially less in scope than an audit conducted in accordance with Thai Standards on Auditing and consequently does not enable me to obtain assurance that

I would become aware of all significant matters that might be identified in an audit. Accordingly, I do not express an audit opinion.

Conclusion

Based on my review, nothing has come to my attention that causes me to believe that the accompanying interim financial information is not prepared, in all material respects, in accordance with Thai Accounting Standard 34 Interim Financial Reporting.

Emphasis of matter

I draw attention to the condensed Note 2 to the interim financial statements, the Company has substantial product sale and raw material purchase transactions with its subsidiaries and related companies. My conclusion is not modified in respect of this matter.

Naraya Srisukh

Certified Public Accountant (Thailand) No. 9188

EY Office Limited Bangkok: 13 May 2025

(Unit: Thousand US Dollar) (Unit: Thousand Baht)

Consolidated financial statements Consolidated financial statements

	Note	31 March 2025	31 December 2024	31 March 2025	31 December 2024
		(Unaudited but reviewed)	(Audited)	(Unaudited but reviewed)	(Audited)
Assets
Current assets
Cash and cash equivalents		207,241	171,556	7,030,960	5,830,827
Trade and other current receivables	2,3	877,535	964,580	29,771,641	32,784,005
Inventories		376,558	458,691	12,775,268	15,589,934
Advances payment for raw materials and molds		12,096	10,831	410,384	368,106
Other current financial assets		1,151	1,354	39,043	46,018
Other current assets		218,646	224,389	7,417,874	7,626,498
Assets held for sale	4	14,038	13,453	476,266	457,238
Total current assets		1,707,265	1,844,854	57,921,436	62,702,626
Non-current assets
Restricted bank deposits		122	118	4,150	4,019
Other non-current financial assets		33	33	1,105	1,107
Investments in associates	5.1	67,779	66,965	2,299,528	2,275,989
Property, plant and equipment	7	492,815	484,813	16,719,463	16,477,753
Right-of-use assets		15,414	15,336	522,943	521,247
Deferred tax assets		4,930	4,760	167,267	161,770
Plan assets for long-term employee benefits		4,768	4,761	161,770	161,801
Other non-current assets		21,242	20,752	720,650	705,329
Total non-current assets		607,103	597,538	20,596,876	20,309,015
Total assets		2,314,368	2,442,392	78,518,312	83,011,641

The accompanying condensed notes to interim financial statements are an integral part of the financial statements.

(Unit: Thousand US Dollar) (Unit: Thousand Baht)

Consolidated financial statements Consolidated financial statements

	Note	31 March 2025	31 December 2024	31 March 2025	31 December 2024
		(Unaudited but reviewed)	(Audited)	(Unaudited but reviewed)	(Audited)
Liabilities and shareholders' equity
Current liabilities
Short-term loans from financial institutions	8	121,418	173,560	4,119,274	5,898,934
Trade and other current payables	2,9	894,403	1,062,795	30,343,907	36,122,119
Current portion of lease liabilities		3,317	2,906	112,518	98,752
Corporate income tax payable		5,485	3,493	186,072	118,705
Other current financial liabilities		478	106	16,227	3,616
Other current liabilities		22,823	30,169	774,320	1,025,385
Liabilities held for sale	4	3,929	3,057	133,287	103,915
Total current liabilities		1,051,853	1,276,086	35,685,605	43,371,426
Non-current liabilities
Long-term loans, net of current portion	10	415,942	351,408	14,111,444	11,943,611
Lease liabilities, net of current portion		11,807	12,015	400,576	408,356
Long-term loan from related party	2	19,503	19,476	661,684	661,941
Non-current provision for employee benefits		13,105	12,616	444,621	428,778
Deferred tax liabilities		2,511	2,221	85,222	75,502
Other non-current liabilities		1,527	1,416	51,787	48,110
Total non-current liabilities		464,395	399,152	15,755,334	13,566,298
Total liabilities		1,516,248	1,675,238	51,440,939	56,937,724
Shareholders' equity
Share capital
Registered share capital
10,450,002,831 ordinary share of 1 Baht each		307,334	307,334	10,450,003	10,450,003
Issued and fully paid-up share capital
10,450,002,831 ordinary share of 1 Baht each		307,334	307,334	10,450,003	10,450,003
Share premium		170,072	170,072	5,745,765	5,745,765
Capital reserve for share-based payment transactions		15,185	12,590	495,985	408,064
Capital surplus from change in shareholding in the subsidiaries		248	248	3,069	3,069
Retained earnings
Appropriated - statutory reserve		31,100	31,100	1,045,000	1,045,000
Unappropriated		371,076	353,169	12,208,240	11,601,458
Other components of shareholders' equity		(95,740)	(105,846)	(2,830,927)	(3,127,871)
Reserve for assets disposal group classified as held for sale		(5,773)	(6,573)	(196,434)	(223,550)
Equity attributable to owners of the Company		793,502	762,094	26,920,701	25,901,938
Non-controlling interests of the subsidiaries		4,618	5,060	156,672	171,979
Total shareholders' equity		798,120	767,154	27,077,373	26,073,917
Total liabilities and shareholders' equity		2,314,368	2,442,392	78,518,312	83,011,641
		-	-	-	-

The accompanying condensed notes to interim financial statements are an integral part of the financial statements.

Directors

(Unit: Thousand US Dollar) (Unit: Thousand Baht)

Separate financial statements Separate financial statements

	Note	31 March 2025	31 December 2024	31 March 2025	31 December 2024
		(Unaudited but reviewed)	(Audited)	(Unaudited but reviewed)	(Audited)
Assets
Current assets
Cash and cash equivalents		48,675	29,527	1,651,365	1,003,546
Trade and other current receivables	2, 3	604,714	740,748	20,515,802	25,176,441
Inventories		288,404	352,992	9,784,514	11,997,451
Advances payment for raw materials and molds		10,289	9,913	349,060	336,927
Other current financial assets		123	-	4,163	-
Other current assets		44,987	42,090	1,526,251	1,430,516
Assets held for sale	4	-	35	-	1,200
Total current assets		997,192	1,175,305	33,831,155	39,946,081
Non-current assets
Investments in associates	5.1	65,401	64,337	2,218,848	2,186,682
Investments in subsidiaries	6.1	432,773	415,641	14,682,437	14,126,751
Property, plant and equipment	7	365,218	355,004	12,390,558	12,065,816
Right-of-use assets		627	43	21,270	1,472
Deferred tax assets		974	976	33,037	33,166
Other non-current assets		75	73	2,525	2,480
Total non-current assets		865,068	836,074	29,348,675	28,416,367
Total assets		1,862,260	2,011,379	63,179,830	68,362,448

The accompanying condensed notes to interim financial statements are an integral part of the financial statements.

(Unit: Thousand US Dollar) (Unit: Thousand Baht)

Separate financial statements Separate financial statements

	Note	31 March 2025	31 December 2024	31 March 2025	31 December 2024
		(Unaudited but reviewed)	(Audited)	(Unaudited but reviewed)	(Audited)
Liabilities and shareholders' equity
Current liabilities
Short-term loans from financial institutions	8	62,126	136,411	2,107,707	4,636,311
Trade and other current payables	2,9	621,919	723,594	21,099,504	24,593,399
Current portion of lease liabilities		327	49	11,087	1,669
Corporate income tax payable		874	211	29,654	7,177
Other current liabilities		2,595	2,959	88,016	100,568
Liabilities held for sale	4	561	561	19,038	19,072
Total current liabilities		688,402	863,785	23,355,006	29,358,196
Non-current liabilities
Long-term loans, net of current portion	10	214,560	214,518	7,279,260	7,290,993
Lease liabilities, net of current portion		322	-	10,914	-
Non-current provision for employee benefits		10,831	10,504	367,450	357,022
Provision for transaction under equity method
of investments in subsidiaries	6.1	154,833	160,478	5,252,949	5,454,299
Total non-current liabilities		380,546	385,500	12,910,573	13,102,314
Total liabilities		1,068,948	1,249,285	36,265,579	42,460,510
Shareholders' equity
Share capital
Registered share capital
10,450,002,831 ordinary share of 1 Baht each		307,334	307,334	10,450,003	10,450,003
Issued and fully paid-up share capital
10,450,002,831 ordinary share of 1 Baht each		307,334	307,334	10,450,003	10,450,003
Share premium		170,072	170,072	5,745,765	5,745,765
Capital reserve for share-based payment transactions		15,185	12,590	495,985	408,064
Capital surplus from change in shareholding in the subsidiaries		248	248	3,069	3,069
Retained earnings
Appropriated - statutory reserve		31,100	31,100	1,045,000	1,045,000
Unappropriated		371,686	353,169	12,228,906	11,601,458
Other components of shareholders' equity		(95,740)	(105,846)	(2,830,927)	(3,127,871)
Reserve for assets disposal group classified as held for sale		(6,573)	(6,573)	(223,550)	(223,550)
Total shareholders' equity		793,312	762,094	26,914,251	25,901,938
Total liabilities and shareholders' equity		1,862,260	2,011,379	63,179,830	68,362,448
		-	-	-	-

The accompanying condensed notes to interim financial statements are an integral part of the financial statements.

Directors

(Unaudited but reviewed)

Cal-Comp Electronics (Thailand) Public Company Limited and its subsidiaries Income statement For the three-month period ended 31 March 2025

(Unit: Thousand US Dollar) (Unit: Thousand Baht)

Consolidated financial statements Consolidated financial statements

	Note	2025	2024	2025	2024
Revenues Sales	2	1,021,023	881,356	34,596,831	31,679,422
Service income		3,395	2,535	115,043	91,115
Exchange gains		2,397	19,074	81,219	685,612
Other income		790	2,814	26,755	101,152
Total revenues		1,027,605	905,779	34,819,848	32,557,301
Expenses
Cost of sales		966,886	834,745	32,762,431	30,004,022
Cost of service		3,093	2,304	104,811	82,808
Selling and distribution expenses		3,746	3,534	126,916	127,031
Administrative expenses	2	22,159	17,573	750,885	631,687
Loss on financial assets and derivative instruments		5,307	25,737	179,826	925,069
Other expenses		4,689	-	158,881	-
Total expenses		1,005,880	883,893	34,083,750	31,770,617
Operating profit		21,725	21,886	736,098	786,684
Share of gain from investments in associates	5.2	1,062	1,303	35,997	46,850
Finance income		2,980	3,849	100,992	138,357
Finance cost		(5,370)	(10,135)	(181,951)	(364,289)
Profit before income tax expenses		20,397	16,903	691,136	607,602
Income tax expenses	11	(2,931)	(1,839)	(99,308)	(66,123)
Profit for the period		17,466	15,064	591,828	541,479
Profit attributable to:
Equity holders of the Company		17,908	15,480	606,806	556,429
Non-controlling interests of the subsidiaries		(442)	(416)	(14,978)	(14,950)
		17,466	15,064	591,828	541,479
Earnings per share			(Unit: US Dollar)		(Unit: Baht)
Basic earnings per share Profit attributable to equity holders of the Company		0.0018	0.0015	0.06	0.05

The accompanying condensed notes to interim financial statements are an integral part of the financial statements.

(Unaudited but reviewed)

Cal-Comp Electronics (Thailand) Public Company Limited and its subsidiaries Statement of comprehensive income For the three-month period ended 31 March 2025

(Unit: Thousand US Dollar) (Unit: Thousand Baht)

Consolidated financial statements Consolidated financial statements

Note 2025 2024 2025 2024

Profit for the period 17,466 15,064 591,828 541,479 Other comprehensive income:

Other comprehensive income to be reclassified to profit or loss in subsequent periods

Exchange differences on translation of

financial statements in foreign currency		10,904	(4,855)	369,462	(174,512)
Share of other comprehensive income from investments in associates	5.2	2	(113)	73	(4,045)
Other comprehensive income to be reclassified to profit or loss in subsequent periods - net of income tax		10,906	(4,968)	369,535	(178,557)
Other comprehensive income not to be reclassified to profit or loss in subsequent periods
Exchange differences on translation of financial statements
in functional currency to presentation currency		-	-	(45,804)	1,723,198
Less: Income tax effect		(1)	35	(24)	1,272
Other comprehensive income not to be reclassified to profit or loss in subsequent periods - net of income tax		(1)	35	(45,828)	1,724,470
Other comprehensive income for the period		10,905	(4,933)	323,707	1,545,913
Total comprehensive income for the period		28,371	10,131	915,535	2,087,392
Total comprehensive income attributable to:
Equity holders of the Company		28,813	10,547	930,842	2,088,694
Non-controlling interests of the subsidiaries		(442)	(416)	(15,307)	(1,302)
		28,371	10,131	915,535	2,087,392

The accompanying condensed notes to interim financial statements are an integral part of the financial statements.

(Unaudited but reviewed)

Cal-Comp Electronics (Thailand) Public Company Limited and its subsidiaries Income statement For the three-month period ended 31 March 2025

(Unit: Thousand US Dollar) (Unit: Thousand Baht)

Separate financial statements Separate financial statements

	Note	2025	2024	2025	2024
Revenues
Sales	2	839,132	685,439	28,433,539	24,637,383
Exchange gains		-	14,876	-	534,712
Other income	2	1,249	1,251	42,365	44,974
Total revenues		840,381	701,566	28,475,904	25,217,069
Expenses
Cost of sales		814,605	664,117	27,602,458	23,870,990
Selling and distribution expenses		1,030	1,085	34,909	38,981
Administrative expenses	2	11,965	11,882	405,451	427,085
Loss on financial assets and derivative instruments		1,589	361	53,837	12,970
Exchange losses		154	-	5,201	-
Total expenses		829,343	677,445	28,101,856	24,350,026
Operating profit		11,038	24,121	374,048	867,043
Share of gain from investments in associates	5.2	1,062	1,303	35,997	46,850
Share of gain (loss) from investments in subsidiaries	6.2	10,078	(2,561)	341,481	(92,051)
Finance income		15	1,317	492	47,327
Finance cost		(3,011)	(8,251)	(102,039)	(296,592)
Profit before income tax expenses		19,182	15,929	649,979	572,577
Income tax expenses	11	(664)	(449)	(22,507)	(16,148)
Profit for the period		18,518	15,480	627,472	556,429
			(Unit: US Dollar)		(Unit: Baht)
Earnings per share
Basic earnings per share
Profit attributable to equity holders of the Company		0.0018	0.0015	0.06	0.05

The accompanying condensed notes to interim financial statements are an integral part of the financial statements.

(Unaudited but reviewed)

Cal-Comp Electronics (Thailand) Public Company Limited and its subsidiaries Statement of comprehensive income For the three-month period ended 31 March 2025

(Unit: Thousand US Dollar) (Unit: Thousand Baht)

Separate financial statements Separate financial statements

Note 2025 2024 2025 2024

Profit for the period 18,518 15,480 627,472 556,429

Other comprehensive income: Other comprehensive income to be reclassified to profit or loss in subsequent periods Share of other comprehensive income from investments in associates	5.2	2	(113)	73	(4,045)
Share of other comprehensive income from investments in subsidiaries	6.2	10,104	(4,855)	342,346	(174,512)
Other comprehensive income to be reclassified to profit or loss in subsequent periods - net of income tax		10,106	(4,968)	342,419	(178,557)
Other comprehensive income not to be reclassified to profit or loss in subsequent periods Exchange differences on translation of functional
currency to presentation currency financial statements		-	-	(45,475)	1,709,550
Less: Income tax effect		(1)	35	(24)	1,272
Other comprehensive income not to be reclassified to profit or loss in subsequent periods - net of income tax		(1)	35	(45,499)	1,710,822
Other comprehensive income for the period		10,105	(4,933)	296,920	1,532,265
Total comprehensive income for the period		28,623	10,547	924,392	2,088,694

The accompanying condensed notes to interim financial statements are an integral part of the financial statements.

Cal-Comp Electronics (Thailand) Public Company Limited and its subsidiaries Statement of changes in shareholders' equity

For the three-month period ended 31 March 2025

Consolidated financial statements

Equity attributable to owners of the Company

(Unaudited but reviewed)

(Unit: Thousand US Dollar)

Other components of shareholders' equity Other comprehensive income

Capital reserve Issued and for share-based				Capital surplus from change in		Retained earnings			Exchange differences on translation of	Share of other comprehensive income from		Loss on investments in equity designated at fair value		Total other components of		Reserve for assets disposal group		Total equity attributable to		Equity attributable to non-controlling		Total
	fully paid-up		payment		shareholding		Appropriated -		financial		investments in		through other		shareholders'		classified as held		owners of		interests of		shareholders'
	share capital	Share premium	transactions		in the subsidiaries		statutory reserve	Unappropriated	statements		associates		comprehensive income		equity		for sale		the Company		the subsidiaries		equity
Balance as at 1 January 2024	307,334	170,072	10,815		257		31,100	322,002	(74,736)		(858)		(5,842)		(81,436)		-		760,144		6,185		766,329
Profit for the period	-	-	-		-		-	15,480	-		-		-		-		-		15,480		(416)		15,064
Other comprehensive income for the period	-	-	-		-		-	35	(4,855)		(113)		-		(4,968)		-		(4,933)		-		(4,933)
Total comprehensive income for the period	-	-	-		-		-	15,515	(4,855)		(113)		-		(4,968)		-		10,547		(416)		10,131
Balance as at 31 March 2024	307,334	170,072	10,815		257		31,100	337,517	(79,591)		(971)		(5,842)		(86,404)		-		770,691		5,769		776,460
Balance as at 1 January 2025	307,334	170,072	12,590		248		31,100	353,169	(99,461)		(980)		(5,405)		(105,846)		(6,573)		762,094		5,060		767,154
Profit for the period	-	-	-		-		-	17,908	-		-		-		-		-		17,908		(442)		17,466
Other comprehensive income for the period	-	-	-		-		-	(1)	10,904		2		-		10,906		-		10,905		-		10,905
Total comprehensive income for the period	-	-	-		-		-	17,907	10,904		2		-		10,906		-		28,813		(442)		28,371
Share-based payment transactions	-	-	2,595		-		-	-	-		-		-		-		-		2,595		-		2,595
Reserve for assets disposal group classified as held for sale	-	-	-		-		-	-	(800)		-		-		(800)		800		-		-		-
Balance as at 31 March 2025	307,334	170,072	15,185		248		31,100	371,076	(89,357)		(978)		(5,405)		(95,740)		(5,773)		793,502		4,618		798,120
	-	-	-		-		-	-							-		-		-		-		-

The accompanying condensed notes to interim financial statements are an integral part of the financial statements.

Cal-Comp Electronics (Thailand) Public Company Limited and its subsidiaries Statement of changes in shareholders' equity

For the three-month period ended 31 March 2025

Consolidated financial statements

Equity attributable to owners of the Company

(Unaudited but reviewed)

(Unit: Thousand Baht)

Other components of shareholders' equity Other comprehensive income

Capital reserve Issued and for share-based				Capital surplus from change in		Retained earnings			Exchange differences on translation of	Share of other comprehensive income from		Loss on investments in equity designated at fair value		Total other components of		Reserve for assets disposal group		Total equity attributable to		Equity attributable to non-controlling		Total
	fully paid-up		payment		shareholding		Appropriated -		financial		investments in		through other		shareholders'		classified as held		owners of		interests of		shareholders'
	share capital	Share premium	transactions		in the subsidiaries		statutory reserve	Unappropriated	statements		associates		comprehensive income		equity		for sale		the Company		the subsidiaries		equity
Balance as at 1 January 2024	10,450,003	5,745,765	347,703		3,379		1,045,000	10,517,119	(1,875,317)		(22,250)		(196,758)		(2,094,325)		-		26,014,644		211,667		26,226,311
Profit for the period	-	-	-		-		-	556,429	-		-		-		-		-		556,429		(14,950)		541,479
Other comprehensive income for the period	-	-	-		-		-	1,272	1,535,038		(4,045)		-		1,530,993		-		1,532,265		13,648		1,545,913
Total comprehensive income for the period	-	-	-		-		-	557,701	1,535,038		(4,045)		-		1,530,993		-		2,088,694		(1,302)		2,087,392
Balance as at 31 March 2024	10,450,003	5,745,765	347,703		3,379		1,045,000	11,074,820	(340,279)		(26,295)		(196,758)		(563,332)		-		28,103,338		210,365		28,313,703
Balance as at 1 January 2025	10,450,003	5,745,765	408,064		3,069		1,045,000	11,601,458	(2,920,946)		(26,319)		(180,606)		(3,127,871)		(223,550)		25,901,938		171,979		26,073,917
Profit for the period	-	-	-		-		-	606,806	-		-		-		-		-		606,806		(14,978)		591,828
Other comprehensive income for the period	-	-	-		-		-	(24)	323,987		73		-		324,060		-		324,036		(329)		323,707
Total comprehensive income for the period	-	-	-		-		-	606,782	323,987		73		-		324,060		-		930,842		(15,307)		915,535
Share-based payment transactions	-	-	87,921		-		-	-	-		-		-		-		-		87,921		-		87,921
Reserve for assets disposal group classified as held for sale	-	-	-		-		-	-	(27,116)		-		-		(27,116)		27,116		-		-		-
Balance as at 31 March 2025	10,450,003	5,745,765	495,985		3,069		1,045,000	12,208,240	(2,624,075)		(26,246)		(180,606)		(2,830,927)		(196,434)		26,920,701		156,672		27,077,373
	-	-	-		-		-	-							-		-				-		-

The accompanying condensed notes to interim financial statements are an integral part of the financial statements.

Cal-Comp Electronics (Thailand) Public Company Limited and its subsidiaries Statement of changes in shareholders' equity For the three-month period ended 31 March 2025 Separate financial statements

Other components of shareholders' equity Other comprehensive income

(Unaudited but reviewed)

(Unit: Thousand US Dollar)

									Share of other
Capital reserve				Capital surplus					comprehensive income from	Loss on investments in equity		Total other		Reserve for assets
Issued and for share-based				from change in		Retained earnings			investments in	designated at fair value		components of		disposal group Total
	fully paid-up		payment		shareholding in		Appropriated -		associates		through other		shareholders'		classified as held	shareholders'
	share capital	Share premium	transactions		the subsidiaries		statutory reserve	Unappropriated	and subsidiaries		comprehensive income		equity		for sale	equity
Balance as at 1 January 2024	307,334	170,072	10,815		257		31,100	322,002	(77,594)		(3,842)		(81,436)		-	760,144
Profit for the period	-	-	-		-		-	15,480	-		-		-		-	15,480
Other comprehensive income for the period	-	-	-		-		-	35	(4,968)		-		(4,968)		-	(4,933)
Total comprehensive income for the period	-	-	-		-		-	15,515	(4,968)		-		(4,968)		-	10,547
Balance as at 31 March 2024	307,334	170,072	10,815		257		31,100	337,517	(82,562)		(3,842)		(86,404)		-	770,691
Balance as at 1 January 2025	307,334	170,072	12,590		248		31,100	353,169	(102,004)		(3,842)		(105,846)		(6,573)	762,094
Profit for the period	-	-	-		-		-	18,518	-		-		-		-	18,518
Other comprehensive income for the period	-	-	-		-		-	(1)	10,106		-		10,106		-	10,105
Total comprehensive income for the period	-	-	-		-		-	18,517	10,106		-		10,106		-	28,623
Share-based payment transactions	-	-	2,595		-		-	-	-		-		-		-	2,595
Balance as at 31 March 2025	307,334	170,072	15,185		248		31,100	371,686	(91,898)		(3,842)		(95,740)		(6,573)	793,312
	-	-	-		-		-	-					-		-	-

The accompanying condensed notes to interim financial statements are an integral part of the financial statements.

Other components of shareholders' equity

(Unaudited but reviewed)

(Unit: Thousand Baht)

									Other comprehensive incom			e
										Share of other
Capital reserve				Capital surplus						comprehensive income from		Loss on investments in equity		Total other		Reserve for assets
Issued and for share-based				from change in		Retained earnings			Exchange differences	investments in		designated at fair value		components of		disposal group Total
	fully paid-up		payment		shareholding in		Appropriated -		on translation of		associates		through other		shareholders'		classified as held	shareholders'
	share capital	Share premium	transactions		the subsidiaries		statutory reserve	Unappropriated	financial statements		and subsidiaries		comprehensive income		equity		for sale	equity
Balance as at 1 January 2024	10,450,003	5,745,765	347,703		3,379		1,045,000	10,517,119	651,699		(2,612,882)		(133,142)		(2,094,325)		-	26,014,644
Profit for the period	-	-	-		-		-	556,429	-		-		-		-		-	556,429
Other comprehensive income for the period	-	-	-		-		-	1,272	1,709,550		(178,557)		-		1,530,993		-	1,532,265
Total comprehensive income for the period	-	-	-		-		-	557,701	1,709,550		(178,557)		-		1,530,993		-	2,088,694
Balance as at 31 March 2024	10,450,003	5,745,765	347,703		3,379		1,045,000	11,074,820	2,361,249		(2,791,439)		(133,142)		(563,332)		-	28,103,338
Balance as at 1 January 2025	10,450,003	5,745,765	408,064		3,069		1,045,000	11,601,458	497,153		(3,491,882)		(133,142)		(3,127,871)		(223,550)	25,901,938
Profit for the period	-	-	-		-		-	627,472	-		-		-		-		-	627,472
Other comprehensive income for the period	-	-	-		-		-	(24)	(45,475)		342,419		-		296,944		-	296,920
Total comprehensive income for the period	-	-	-		-		-	627,448	(45,475)		342,419		-		296,944		-	924,392
Share-based payment transactions	-	-	87,921		-		-	-	-		-		-		-		-	87,921
Balance as at 31 March 2025	10,450,003	5,745,765	495,985		3,069		1,045,000	12,228,906	451,678		(3,149,463)		(133,142)		(2,830,927)		(223,550)	26,914,251
	-	-	-		-		-	-							-			-

The accompanying condensed notes to interim financial statements are an integral part of the financial statements.

Consolidated financial statements Consolidated financial statements

	2025		2024		2025		2024
Cash flows from operating activities
Profit before tax	20,397		16,903		691,136		607,602
Adjustments to reconcile profit before tax to net cash
provided by (paid from) operating activities:
Depreciation and amortisation	16,163		18,353		547,660		659,675
Allowance for expected credit losses (reversal)	(184)		362		(6,247)		13,006
Reversal of reduction of inventories to net realisable value	(492)		(1,410)		(16,660)		(50,681)
Reversal of allowance for impairment loss on assets	-		(70)		-		(2,519)
Gain on disposal of property, plant and equipment	(204)		(174)		(6,915)		(6,262)
Share of gain from investments in associates	(1,062)		(1,303)		(35,997)		(46,850)
Provision for employee benefits	376		415		12,728		14,918
Share-based payment transactions	2,595		-		87,921		-
Unrealised loss on derivative instruments	576		764		19,534		27,449
Unrealised loss (gain) on exchange	489		(5,320)		16,588		(191,228)
Finance income	(2,980)		(3,849)		(100,992)		(138,357)
Interest expenses	5,022		10,006		170,166		359,655
Profit from operating activities before changes in
operating assets and liabilities	40,696	34,677		1,378,922		1,246,408
Operating assets (increase) decrease
Trade and other current receivables	87,199	171,171		2,954,682		6,152,549
Inventories	82,538	11,946		2,796,758		429,374
Advances payment for raw materials and molds	(1,266)	(573)		(42,890)		(20,602)
Other current assets	5,006	(5,718)		169,639		(205,520)
Operating liabilities increase (decrease)
Trade and other current payables	(166,810)		(59,472)		(5,652,259)		(2,137,652)
Other current liabilities	(7,301)		(3,048)		(247,394)		(109,556)
Non-current provision for employee benefits	(23)		(166)		(790)		(5,956)
Other non-current liabilities	111		(16)		3,760		(567)
Cash flows from operating activities	40,150		148,801		1,360,428		5,348,478
Interest received	2,980		3,849		100,992		138,357
Corporate income tax paid	(820)		(824)		(27,773)		(29,620)
Net cash flows from operating activities	42,310		151,826		1,433,647		5,457,215

The accompanying condensed notes to interim financial statements are an integral part of the financial statements.

Consolidated financial statements Consolidated financial statements

	2025	2024	2025	2024
Cash flows from investing activities
Proceeds from disposal of investment in associate	35	-	1,182	-
Decrease (increase) in other current financial assets	(1)	1,556	(49)	55,938
Decrease (increase) in restricted bank deposits	(2)	8	(77)	276
Dividend received from associate	250	253	8,455	9,101
Acquisition of plant and equipment	(23,622)	(8,705)	(800,416)	(312,908)
Proceeds from disposal of property, plant and equipment	1,254	5,068	42,476	182,180
Decrease (increase) in other non-current assets	(490)	4,104	(16,575)	147,529
Net cash flows from (used in) investing activities	(22,576)	2,284	(765,004)	82,116
Cash flows from financing activities
Decrease in short-term loans from financial institutions	(52,011)	(23,259)	(1,762,379)	(836,028)
Cash receipt from long-term loans	201,777	-	6,837,104	-
Repayment of long-term loans	(137,329)	(109,000)	(4,653,326)	(3,917,891)
Payment of principal portion of lease liabilities	(1,107)	(1,386)	(37,522)	(49,822)
Interest paid	(5,277)	(11,630)	(178,800)	(418,016)
Net cash flows from (used in) financing activities	6,053	(145,275)	205,077	(5,221,757)
Cash and cash equivalents classified as assets held for sale	(502)	-	(17,010)	-
Increase (decrease) in translation adjustments	10,400	(4,380)	343,423	505,505
Net increase in cash and cash equivalents	35,685	4,455	1,200,133	823,079
Cash and cash equivalents at beginning of period	171,556	294,691	5,830,827	10,085,293
Cash and cash equivalents at end of period	207,241	299,146	7,030,960	10,908,372
Supplemental cash flows information
Non-cash items consist of
Purchases of plant and equipment that has not yet been paid	2,036	3,102	69,083	113,101
Sales of equipment that has not yet been received	470	7,188	15,955	262,120
Increase in right-of-use assets from lease liabilities	907	-	30,738	-
Decrease in right-of-use assets from leases modification	-	(3,423)	-	(123,023)
Decrease in lease liabilities from leases modification	-	(3,584)	-	(128,821)

The accompanying condensed notes to interim financial statements are an integral part of the financial statements.

Separate financial statements Separate financial statements

	2025	2024	2025	2024
Cash flows from operating activities
Profit before tax	19,182	15,929	649,979	572,577
Adjustments to reconcile profit before tax to net cash
provided by (paid from) operating activities:
Depreciation	9,440	9,985	319,883	358,905
Reversal on allowance for expected credit losses	(186)	-	(6,293)	-
Reversal of reduction of inventories to net realisable value	(328)	-	(11,117)	-
Loss (gain) on disposal of equipment	(204)	46	(6,915)	1,665
Share of gain from investments in associates	(1,062)	(1,303)	(35,997)	(46,850)
Share of loss (gain) from investments in subsidiaries	(10,078)	2,561	(341,481)	92,051
Provision for employee benefits	350	280	11,850	10,066
Unrealised gain on derivative instruments	(123)	-	(4,158)	-
Unrealised loss (gain) on exchange	663	(5,367)	22,477	(192,941)
Finance income	(15)	(1,317)	(492)	(47,327)
Interest expenses	2,888	8,149	97,852	292,909
Profit from operating activities before changes in
operating assets and liabilities	20,527	28,963	695,588	1,041,055
Operating assets (increase) decrease
Trade and other current receivables	136,250	179,802	4,616,744	6,462,776
Inventories	64,917	(12,084)	2,199,669	(434,357)
Advances payment for raw materials and molds	(376)	(200)	(12,727)	(7,176)
Other current assets	(3,655)	(1,225)	(123,832)	(44,033)
Operating liabilities increase (decrease)
Trade and other current payables	(100,847)	(72,934)	(3,417,132)	(2,621,520)
Other current liabilities	(380)	12	(12,888)	414
Non-current provision for employee benefits	(23)	(78)	(790)	(2,806)
Cash flows from operating activities	116,413	122,256	3,944,632	4,394,353
Interest received	15	1,166	492	41,904
Corporate income tax paid	-	(19)	-	(693)
Net cash flows from operating activities	116,428	123,403	3,945,124	4,435,564

The accompanying condensed notes to interim financial statements are an integral part of the financial statements.

Separate financial statements Separate financial statements

	2025	2024	2025	2024
Cash flows from investing activities
Proceeds from disposal of investment in associate	35	-	1,182	-
Acquisition of plant and equipment	(20,872)	(3,203)	(707,247)	(115,115)
Dividend received from subsidiary	-	45,499	-	1,659,118
Proceeds from disposal of equipment	1,037	3,147	35,130	113,101
Increase in other non-current assets	(1)	(47)	(49)	(1,674)
Net cash flows from (used in) investing activities	(19,801)	45,396	(670,984)	1,655,430
Cash flows from financing activities
Decrease in short-term loans from financial institutions	(74,279)	(24,972)	(2,516,905)	(897,577)
Repayment of long-term loans	-	(109,000)	-	(3,917,891)
Payment of principal portion of lease liabilities	(90)	(80)	(3,037)	(2,875)
Interest paid	(3,110)	(9,755)	(105,369)	(350,637)
Net cash flows used in financing activities	(77,479)	(143,807)	(2,625,311)	(5,168,980)
Increase (decrease) in translation adjustments	-	-	(1,010)	262,308
Net increase in cash and cash equivalents	19,148	24,992	647,819	1,184,322
Cash and cash equivalents at beginning of period	29,527	121,777	1,003,546	4,167,614
Cash and cash equivalents at end of period	48,675	146,769	1,651,365	5,351,936
Supplemental cash flows information
Non-cash items consist of
Purchases of plant and equipment that has not yet been paid	98	2,493	3,336	90,891
Sales of equipment that has not yet been received	193	1,048	6,557	38,211
Increase in right-of-use assets from lease liabilities	667	-	22,612	-

The accompanying condensed notes to interim financial statements are an integral part of the financial statements.

Cal-Comp Electronics (Thailand) Public Company Limited and its subsidiaries Condensed notes to interim financial statements For the three-month period ended 31 March 2025

General information
1. General information of the Company
  Cal-Comp Electronics (Thailand) Public Company Limited ("the Company") is a public company incorporated and domiciled in Thailand. Its parent company is Kinpo Electronics, Inc., which was incorporated in Taiwan. The Company is principally engaged in the manufacture of electronic products, such as computer and computer peripheral, telecommunication equipment and automation equipment. The registered office of the Company is at No. 191/54, 191/57, 18th Floor, CTI Tower, Rachadapisek Road, Kwang Klongtoey, Khet Klongtoey, Bangkok 10110. The Company has 4 branches in Thailand and is located at Samut Sakorn, Petchaburi and Nakhonratchasima.
2. Basis for the preparation of interim financial statements
  These interim financial statements are prepared in accordance with Thai Accounting Standard No. 34 Interim Financial Reporting, with the Company presenting condensed interim financial statements. The Company has presented the statements of financial position, income statement, comprehensive income, changes in shareholders' equity and cash flows in the same format as that used for the annual financial statements and has presented notes to the interim financial statements on a condensed basis.
  The management of the Group has determined US Dollar as the functional currency and presents its interim financial statements in US Dollar. However, the regulatory requirements in Thailand require the entity to present its interim financial statements in Baht, so the Group also presents its interim financial statements in Baht by translating from US Dollar.
  Assets and liabilities are translated into Baht at the rate of exchange prevailing at the reporting period end date. Revenues and expenses are translated into Baht at the monthly average exchange rate. Differences are recorded as "Exchange differences on translation of financial statements in functional currency to presentation currency" in other comprehensive income.
  The interim financial statements are intended to provide information additional to that included in the latest annual financial statements. Accordingly, they focus on new activities, events and circumstances so as not to duplicate information previously reported. These interim financial statements should therefore be read in conjunction with the latest annual financial statements.
  The interim financial statements in Thai language are the official statutory financial statements of the Company. The interim financial statements in English language have been translated from the Thai language financial statements.
3. Basis of consolidation
  This interim consolidated financial statements include the financial statements of Cal-Comp Electronics (Thailand) Public Company Limited ("the Company") and its subsidiary companies ("the subsidiaries") (collectively as "the Group") and have been prepared on the same basis as that applied to the consolidated financial statements for the year ended 31 December 2024, with no change in shareholding structure of subsidiaries during the current period.
4. Accounting policies
  The interim financial statements are prepared using the same accounting policies and methods of computation as were used for the financial statements for the year ended 31 December 2024.
  The revised financial reporting standards which are effective for fiscal years beginning on or after 1 January 2025, do not have any significant impact on the Group's financial statements.

Related party transactions

During the period, the Group had significant business transactions with related parties. Such transactions, which are summarised below, arose in the ordinary course of business. There were no changes in its related parties and the transfer pricing policy of transactions with related parties during the current period.

Summaries significant business transactions with related parties as follows.

(Unit: Million US Dollar) (Unit: Million Baht)

Consolidated financial statements

For the three-month periods ended 31 March

	2025		2024		2025		2024
Transactions with the parent company
Sales	392.5		286.1		13,300		10,284
Other expenses Transactions with associates	1.0		0.6		33		21
Sales	32.2	23.9		1,090		860
Other expenses	2.7	2.0		90		72
Transactions with related companies
Sales	43.9	49.1		1,487		1,763
Purchases of raw materials	239.3	212.3		8,110		7,629

(Unit: Million US Dollar) (Unit: Million Baht)

Separate financial statements

For the three-month periods ended 31 March

	2025		2024		2025		2024
Transactions with subsidiaries (Eliminated from the consolidated financial statements)
Sales	119.4		112.0		4,047		4,026
Dividend income	-		45.5		-		1,635
Other income	1.0		0.9		35		33
Purchases of raw materials	22.4		15.4		758		554
Other expenses Transactions with the parent company	9.7		9.0		327		324
Sales	392.4	286.1		13,298		10,284
Transactions with related companies
Sales	43.3	48.4		1,469		1,741
Purchases of raw materials	238.5	211.0		8,083		7,583

The balances of the accounts between the Group and those related parties are as follows:

(Unit: Thousand US Dollar) (Unit: Thousand Baht)

Consolidated financial statements

31 March

2025

31 December

2024

31 March

2025

31 December

2024

(Audited) (Audited)

Trade and other current receivables - related parties (Note 3)

Parent company	297,250	345,512	10,084,646	11,743,226
Associates	21,687	21,222	735,746	721,298
Related companies	113,677	102,218	3,856,691	3,474,150
Total	432,614	468,952	14,677,083	15,938,674
Less: Allowance for expected credit losses	(36)	(69)	(1,219)	(2,339)
Total trade and other current receivables - related parties, net	432,578	468,883	14,675,864	15,936,335
Trade and other current payables - related parties (Note 9)
Parent company	1,306	2,422	44,294	82,335
Associates	2,281	2,428	77,374	82,522
Related companies	141,958	234,731	4,816,161	7,978,017
Total trade and other current payables - related parties	145,545	239,581	4,937,829	8,142,874
Lease liabilities Associates	8,672	5,435	294,199	184,715
Total lease liabilities - related parties	8,672	5,435	294,199	184,715

(Unit: Thousand US Dollar) (Unit: Thousand Baht)

Separate financial statements

31 March

2025

31 December

2024

31 March

2025

31 December

2024

(Audited) (Audited)

Trade and other current receivables - related parties (Note 3)

Subsidiaries	46,312	124,467	1,571,192	4,230,363
Parent company	297,167	345,509	10,081,831	11,743,101
Associates	214	187	7,265	6,365
Related companies	112,279	100,618	3,809,228	3,419,786
Total	455,972	570,781	15,469,516	19,399,615
Less: Allowance for expected credit losses	(36)	(69)	(1,219)	(2,339)
Total trade and other current receivables - related parties, net	455,936	570,712	15,468,297	19,397,276
Trade and other current payables - related parties (Note 9)
Subsidiaries	38,690	33,003	1,312,626	1,121,709
Parent company	209	1,780	7,091	60,488
Associates	175	175	5,953	5,964
Related companies	140,916	232,944	4,780,739	7,917,246
Total trade and other current payables - related parties	179,990	267,902	6,106,409	9,105,407
Long-term loan from related party

The balance of long-term loan from related party and the movement are as follows:

(Unit: Thousand US Dollar)

			Consolidated	financial statements
		Balance as at 1 January		Translation	Balance as at 31 March
Long-term loan	Related by	2025	Received	adjustment	2025
Kinpo Electronics (China) Co., Ltd.	Subsidiary of the parent company	19,476	-	27	19,503
		19,476	-	27	19,503

(Unit: Thousand Baht)

			Consolidated	financial statements
		Balance as at 1 January		Translation	Balance as at 31 March
Long-term loan	Related by	2025	Received	adjustment	2025
Kinpo Electronics (China) Co., Ltd.	Subsidiary of the parent company	661,941	-	(257)	661,684
		661,941	-	(257)	661,684

Long-term loan from Kinpo Electronics (China) Co., Ltd. was denominated in CNY currency on which interest is charged at the rate of 3.25% per annum and will be due in November and December 2026.

Directors and management's benefits

(Unit: Thousand US Dollar) (Unit: Thousand Baht)

Consolidated financial statements

For the three-month periods ended 31 March

	2025	2024	2025	2024
Short-term employee benefits	776	804	26,287	28,914
Post-employment benefits	18	20	624	706
Share-based payments	566	-	19,189	-
Total	1,360	824	46,100	29,620

(Unit: Thousand US Dollar) (Unit: Thousand Baht)

Separate financial statements

For the three-month periods ended 31 March

	2025	2024	2025	2024
Short-term employee benefits	205	196	6,960	7,030
Post-employment benefits	2	2	54	54
Total	207	198	7,014	7,084

Trade and other current receivables

(Unit: Thousand US Dollar) (Unit: Thousand Baht)

	31 March	31 December	31 March	31 December
	2025	2024	2025	2024
		(Audited)		(Audited)
Trade receivables - related parties (Note 2)
Aged on the basis of due dates
Not yet due	364,207	448,175	12,356,266	15,232,520
Past due
Less than 1 month	37,754	16	1,280,858	532
1 - 2 months	6,441	2,831	218,514	96,218
3 - 6 months	27	29	913	993
6 - 12 months	30	45	1,013	1,526
Over 12 months	124	88	4,206	2,983
Total	408,583	451,184	13,861,770	15,334,772
Less: Allowance for expected credit losses	(36)	(69)	(1,219)	(2,339)
Total trade receivables - related parties, net	408,547	451,115	13,860,551	15,332,433
Trade receivables - unrelated parties
Aged on the basis of due dates
Not yet due	426,023	471,282	14,453,437	16,017,871
Past due
Less than 1 month	10,859	12,328	368,413	418,994
1 - 2 months	2,940	3,294	99,723	111,968
2 - 3 months	541	2,371	18,354	80,566
3 - 6 months	413	225	14,015	7,653
6 - 12 months	82	45	2,795	1,523
Total	440,858	489,545	14,956,737	16,638,575
Less: Allowance for expected credit losses	(104)	(104)	(3,513)	(3,520)
Total trade receivables - unrelated parties, net	440,754	489,441	14,953,224	16,635,055
Total trade receivables, net	849,301	940,556	28,813,775	31,967,488
Other current receivables
Other current receivables - related parties
(Note 2)	24,031	17,768	815,313	603,902
Other current receivables - unrelated parties	6,884	9,088	233,512	308,886
Total	30,915	26,856	1,048,825	912,788
Less: Allowance for expected credit losses	(2,681)	(2,832)	(90,959)	(96,271)
Total other current receivables, net	28,234	24,024	957,866	816,517
Total trade and other current receivables, net	877,535	964,580	29,771,641	32,784,005

Consolidated financial statements

(Unit: Thousand US Dollar) (Unit: Thousand Baht)

	31 March	31 December	31 March	31 December
	2025	2024	2025	2024
		(Audited)		(Audited)
Trade receivables - related parties (Note 2)
Aged on the basis of due dates
Not yet due	375,600	547,159	12,742,777	18,596,742
Past due
Less than 1 month	37,982	5	1,288,596	153
1 - 2 months	6,442	2,830	218,579	96,202
3 - 6 months	5	-	159	-
Total	420,029	549,994	14,250,111	18,693,097
Less: Allowance for expected credit losses	(36)	(69)	(1,219)	(2,339)
Total trade receivables - related parties, net	419,993	549,925	14,248,892	18,690,758
Trade receivables - unrelated parties
Aged on the basis of due dates
Not yet due	133,951	149,411	4,544,473	5,078,162
Past due
Less than 1 month	6,981	10,227	236,849	347,610
1 - 2 months	2,919	3,152	99,026	107,146
2 - 3 months	532	1,192	18,059	40,526
3 - 6 months	313	186	10,621	6,329
Total	144,696	164,168	4,909,028	5,579,773
Less: Allowance for expected credit losses	(1)	(3)	(47)	(93)
Total trade receivables - unrelated parties, net	144,695	164,165	4,908,981	5,579,680
Total trade receivables, net	564,688	714,090	19,157,873	24,270,438
Other current receivables
Other current receivables - related parties
(Note 2)	35,943	20,787	1,219,405	706,518
Other current receivables - unrelated parties	6,764	8,703	229,483	295,756
Total	42,707	29,490	1,448,888	1,002,274
Less: Allowance for expected credit losses	(2,681)	(2,832)	(90,959)	(96,271)
Total other current receivables, net	40,026	26,658	1,357,929	906,003
Total trade and other current receivables, net	604,714	740,748	20,515,802	25,176,441

Separate financial statements

Assets held for sale and liabilities held for sale
1. Disposition of investment in Cal-Comp Industria de Semicondutores S.A. (a subsidiary)
  On 14 May 2024, a meeting of the Board of Directors of the Company approved the disposition of Cal-Comp Industria de Semicondutores S.A., its subsidiary in Brazil, for the purpose of internal organisation restructure in order to enhance the company group's overall efficiency.
  Subsequently, on 29 November 2024, the Company entered into the Share Purchase Agreement to divest the subsidiary which the Company held 58.03% of shareholding, to Digitron da Amazonia Industria E Comercio LTDA ("the buyer"). The agreement will become effective upon the fulfillment of all the terms and conditions as prescribed in the agreement.
  On 30 April 2025 and 6 May 2025, the Company had already received full payments from the buyer. Currently, the Company and the buyer are in process of transferring ownership of such shares and complying with the terms and conditions as prescribed in the agreement. The Company's management expects that the agreement will be completed within the current year.
2. Disposition of investment in XYZprinting, Inc. (an associate)
  On 13 November 2024, a meeting of the Board of Directors of the Company approved the disposition of XYZprinting, Inc., its associate in Taiwan to non-related person for the purpose of the group's restructuring.
  Subsequently, on 20 December 2024, the Company entered into the Share Purchase Agreement to divest the associate which the Company held 48.59% of shareholding, to individual ("the buyer"). The agreement will become effective upon the fulfillment of all the terms and conditions as prescribed in the agreement.
  During the current period, the Company and the buyer had complied all terms and conditions stipulated in the agreement. Therefore, the Company already disposed the investment in XYZprinting, Inc. from the statement of financial position.

Investments in associates

Details of investments in associates

Consolidated financial statements

(Unit: Thousand US Dollar)

Country of Carrying amount

Company's name Nature of business incorporation Shareholding percentage Cost based on equity method

31 March				31 December			31 March	31 December			31 March	31 December
2025				2024			2025	2024			2025	2024
			(%)		(%)				(Audited)				(Audited)
Daviscomms (S) Pte Ltd.*	Design and	Singapore	20.00		20.00		2,955		2,955		2,378		2,628
manufacturing of telecommunication
	products
Shanghai Chuang Ge	Research and	The People's	43.53	43.53		265		265		-		-
Education Technology	development	Republic of
Co., Ltd.**	especially in	China
	education and
	network field
PChome (Thailand)	E-commerce service	Thailand	33.75	33.75		2,075		2,075		56		57
Co., Ltd.	provider
Cal-Comp Technology	Manufacturing of	Philippines	19.19	19.19		24,348		24,348		65,345		64,280
(Philippines), Inc.	electronic products
Total investments in associates							29,643		29,643		67,779		66,965

(Unit: Thousand Baht)

Consolidated financial statements

Country of Carrying amount

Company's name Nature of business incorporation Shareholding percentage Cost based on equity method

31 March				31 December			31 March	31 December			31 March	31 December
2025				2024			2025	2024			2025	2024
			(%)		(%)				(Audited)				(Audited)
Daviscomms (S) Pte Ltd.*	Design and	Singapore	20.00		20.00		100,260		100,441		80,680		89,307
manufacturing of telecommunication
	products
Shanghai Chuang Ge	Research and	The People's	43.53	43.53		8,997		9,013		-		-
Education Technology	development	Republic of
Co., Ltd.**	especially in	China
	education and
	network field
PChome (Thailand)	E-commerce service	Thailand	33.75	33.75		70,390		70,517		1,905		1,944
Co., Ltd.	provider
Cal-Comp Technology	Manufacturing of	Philippines	19.19	19.19		826,044		827,539		2,216,943		2,184,738
(Philippines), Inc.	electronic products
Total investments in associates							1,005,691		1,007,510		2,299,528		2,275,989

* (held by Cal-Comp Precision (Singapore) Limited)

** (held by Cal-Comp Optical Electronics (Suzhou) Co., Ltd.)

(Unit: Thousand US Dollar)

Separate financial statements

Country of Carrying amount

Company's name Nature of business incorporation Shareholding percentage Cost based on equity method

			31 March	31 December	31 March	31 December		31 March		31 December
			2025	2024	2025	2024		2025		2024
			(%)	(%)		(Audited)				(Audited)
PChome (Thailand) Co., Ltd. Cal-Comp Technology	E-commerce service provider Manufacturing of	Thailand Philippines	33.75 19.19	33.75 19.19	2,075 24,348	2,075 24,348		56 65,345		57 64,280
(Philippines), Inc.	electronic products
Total investments in associates					26,423	26,423	65,401		64,337

(Unit: Thousand Baht)

Separate financial statements

Country of Carrying amount

Company's name Nature of business incorporation Shareholding percentage Cost based on equity method

				31 March	31 December	31 March	31 December			31 March	31 December
				2025	2024	2025	2024			2025	2024
			(%)		(%)			(Audited)				(Audited)
PChome (Thailand) Co., Ltd. Cal-Comp Technology	E-commerce service provider Manufacturing of	Thailand Philippines	33.75 19.19		33.75 19.19	70,390 826,044		70,517 827,539		1,905 2,216,943		1,944 2,184,738
(Philippines), Inc.	electronic products
Total investments in associates		896,434					898,056		2,218,848		2,186,682

The change in cost of investments in associates is from the exchange differences on translation of functional currency to presentation currency.

Except for the investment in Cal-Comp Technology (Philippines), Inc., the Group recorded investments in associates based on the basis of financial information provided by those companies' management. Due to time constraints, those companies' management cannot provide the financial information which were reviewed by external auditors.

Share of comprehensive income and dividend received

During the periods, the Group recognised its share of comprehensive income from investments in associates in the consolidated financial statements and the separate financial statements as follows:

(Unit: Thousand US Dollar) For the three-month periods ended 31 March

Consolidated and separate financial statements

Share of other

	2025	2024	2025		2024
XYZprinting, Inc.	-	(95)		-	(38)
PChome (Thailand) Co., Ltd.	(1)	(23)		-	(9)
Cal-Comp Technology (Philippines), Inc.	1,063	1,421		2	(66)
Total	1,062	1,303		2	(113)

Company's name

Share of profit (loss) from investments in associates

comprehensive income from investments in associates

(Unit: Thousand Baht) For the three-month periods ended 31 March

Consolidated and separate financial statements

Share of other

	2025	2024	2025		2024
XYZprinting, Inc.	-	(3,420)		-	(1,372)
PChome (Thailand) Co., Ltd.	(39)	(840)		3	(330)
Cal-Comp Technology (Philippines), Inc.	36,036	51,110		70	(2,343)
Total	35,997	46,850		73	(4,045)

Company's name

Share of profit (loss) from investments in associates

comprehensive income from investments in associates

During the current period, the Group received dividend income from Daviscomms (S) Pte Ltd. amounting to Baht 8 million (USD 0.3 million) (2024: The Group received dividend income from Daviscomms (S) Pte Ltd. amounting to Baht 9 million (USD 0.3 million) and stock dividends from Cal-Comp Technology (Philippines), Inc., totaling 107,473,973 shares with a par value of PHP 1.0 per share).

Investments in subsidiaries
1. Details of investments in subsidiaries as presented in the separate financial statements

(Unit: Thousand US Dollar) Carrying amount

Paid-up capital Shareholding percentage Cost based on equity method

	31 March	31 December	31 March	31 December	31 March	31 December	31 March	31 December
Company's name	2025	2024	2025	2024	2025	2024	2025	2024
			(%)	(%)		(Audited)		(Audited)
Cal-Comp Optical Electronics (Suzhou) Co., Ltd. Cal-Comp Electronics	CNY 547.15 million USD 65.00	CNY 547.15 million USD 65.00	100 100	100 100	59,962 63,737	59,962 63,737	110,058 26,359	109,853 26,804
(USA) Co., Ltd. Cal-Comp Industria e	million BRL 247.82	million BRL 247.82	100	100	88,607	88,607	128,431	119,277
Comercio de Electronicos	million	million
e Informatica Ltda. Cal-Comp Electronics (Sao Paulo)	BRL 49.50	BRL 49.50	100	100	10,000	10,000	10,754	9,905
Industria e comercio de	million	million
Electronicos e Informatica Ltda. Cal-Comp Electronics de	MXN 141.18	MXN 141.18	100	100	9,557	9,557	13,716	12,812
Mexico Co., S.A. de C.V.	million	million
Cal-Comp Automation and Industrial 4.0 Service (Thailand) Co., Ltd.	Baht 100.00 million	Baht 100.00 million	100	100	3,082	3,082	4,592	2,623
Cal-Comp Precision Holding Co., Ltd. Cal-Comp Semiconductor, LTD.	TWD 565.00 million USD 30.13	TWD 565.00 million USD 30.13	100 100	100 100	85,244 41,959	85,244 41,959	136,414 2,449	131,882 2,485
	million	million
Total investments in subsidiaries					362,148	362,148	432,773	415,641

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