Business Overview
Design, inventing and manufacturing commercial automotive engineering systems including rail technology and defense industry products for example trucks, trailers, buses, catering trucks, trains, fire rescue vehicles, armored vehicle, troop carriers and battle ships.
Financial Statement
| 2023 | 2022 | 2021 | 2020 |
|---|
Income Statement (MB)
| Revenues | 406.49 | 527.53 | 440.67 | 647.96 |
| Expenses | 807.27 | 953.89 | 709.55 | 742.29 |
| Net Profit (Loss) | -572.48 | -642.78 | -475.32 | -238.74 |
Balance Sheet (MB)
| Assets | 3,277.96 | 3,052.25 | 3,221.70 | 3,138.32 |
| Liabilities | 2,749.35 | 2,182.39 | 2,340.60 | 2,201.04 |
| Shareholders' Equity | 528.61 | 869.86 | 881.10 | 937.28 |
Cash Flow (MB)
| Operating | 162.28 | 181.69 | -37.02 | -19.06 |
| Investing | -81.79 | -224.51 | -191.23 | 350.87 |
| Financing | 177.05 | 47.24 | 222.08 | -328.61 |
Financial Ratio
| EPS (Baht) | -3.57 | -0.28 | -0.33 | -0.18 |
| GP Margin (%) | -30.40 | -52.09 | -17.80 | 11.61 |
| NP Margin (%) | -140.84 | -121.85 | -107.86 | -36.85 |
| D/E Ratio (x) | 5.20 | 2.51 | 2.66 | 2.35 |
| ROE (%) | -81.87 | -73.42 | -52.28 | -25.19 |
| ROA (%) | -12.69 | -13.84 | -8.46 | -2.96 |
Business Plan
- The company business plan "CHO Tech Riders 2030" to make the company a part of the country's electric vehicle ecosystem. To change from the current industry group is an industrial product It is a future technology group. By entering the METAVERSE and FINTECH industries, CHO will be able to generate income from Virtual Income that will create sustainability of income. and profits for CHO. It is a company that is ready to keep up with the industry. and technology in the future
Sustainable Development Plan
- The company emphasizes the importance of policies regarding good corporate governance. It is established as a policy to ensure that the company's business operations have transparent corporate governance that can be examined. and increase investor confidence By communicating information via the Company's website to directors, executives, and employees at all levels throughout the organization. and the general public is informed for good corporate governance along with having an internal audit unit and the Audit Committee regularly monitors work performance.
Business Highlight
- Designer, creator, body manufacturer, and installer of engineering systems for commercial vehicles. Providing rail technology services and providing services regarding defense industry products, Preventive Maintenance (PM) and a 24-hour One Stop Service truck service center.
- Major manufacturer and exporter of food delivery vehicles for airports both domestically and abroad.
- Invest in subsidiaries to raise funds in the form of Special Purpose Acquisition Company “SPAC” on the “NASDAQ” stock exchange, United States. with the abbreviated name of the security being “AOGO” and is in the process of searching for target companies for mergers and acquisitions.
- Expanding into the EV business by producing and modifying vehicles into EV systems as well as support systems for commercial purposes.
Performance and Analysis
Business Performance Summary
- The company has operating results for year 2024 with total income of 406.49 million baht and a net loss of 572.48 million baht.
- The company has a stable level of assets. Debt and Asset has both increased.
Key Milestones
- In 2013, became a listed company on the Market for Alternative Investment (MAI).
- In 2019, the "SCN-CHO Joint Working Group" was established to deliver 489 air-conditioned buses powered by natural gas (NGV) to the BMTA, including maintenance services according to a 10-year contract.
- In 2021, signed an MOU with Asia Cab Company Limited to integrate cooperation for research and development of the London Taxi. To change from a combustion engine system to a plug-in electric system (PEV).
- In 2022, established a subsidiary company To raise funds in the form of a SPAC in the United States under the name of Arogo Capital Acquisition Crop., a total of USD 108 million was raised.
- In 2022 signed an MOU with Advanced Electric Machines Ltd. (AEM), a manufacturer of sustainable electric motors
- In 2023, MOU was signed with business partners including AVIC-INTL, a major enterprise from China, and Anhui Ankai Automobile, an automotive manufacturer from China. To plan the sale of EV products, both imported and fully electric buses.
Risk Management Policy
- Investment Risk To reduce the risk that investments may not meet goals, budget management have been established and an audit committee with expertise in various areas has been established giving opinions in support of investment decisions of the Board of Directors. When the investment is approved
- Risk from fluctuations in the value of the baht to foreign currency both for export and import have both direct and indirect effects on revenue. The company has established a policy for trading foreign currency forward contracts. and set policies for offering to customers and changing the currency used in transactions with the company.
Revenue Structure
Stock Information
mai / INDUS
| as of 28/12/23 | CHO | INDUS | mai |
|---|---|---|---|
| P/E (X) | - | 32.75 | 109.18 |
| P/BV (X) | 1.16 | 1.26 | 2.17 |
| Dividend yield (%) | - | 3.09 | 1.53 |
| 28/12/23 | 30/12/22 | 30/12/21 | |
|---|---|---|---|
| Market Cap (MB) | 77.41 | 879.06 | 1,806.78 |
| Price (B/Share) | 0.42 | 0.33 | 1.02 |
| P/E (X) | - | - | - |
| P/BV (X) | 1.16 | 0.82 | 1.99 |
CG Report:
-
Company Rating:
Major Shareholders
as of 13/12/2023
Company Information and Contact
http://www.cho.co.th
naranuwat@cho.co.th
0-4304-3888
265 Moo 4 Klang Muang Road, Muangkhao, Muang Khon Kaen 40000
Other Trading Info. :
https://www.settrade.com/C04_01_stock_quote_p1.jsp?txtSymbol=CHO
Remarks: This document is prepared by the listed company and aimed to disseminate the listed company’s information to investors for only investment decision support. The listed company does not give investment advice or recommendation regarding the listed company’s securities. Before making investment decisions, investors should study additional information and seek advice from relevant professionals. In no event shall the listed company be responsible for any loss or damage arising from the use of the information contained herein. The listed company reserves the right to amend the content specified in this document without prior notice. Unless otherwise permitted by the listed company, copy, modification, or dissemination of this document or the content contained herein is prohibited. In case there is any questions regarding the listed company’s information, the investors may seek for additional information from the report or information which the listed company has disclosed through the Office of the Securities and Exchange Commission’s and/or the Stock Exchange of Thailand’s channel.
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