CMC : CHAOPRAYAMAHANAKORN PUBLIC COMPANY LIMITED
6M/2026 (Jan - Jun 2026)
Business Overview

CMC operates in 5 business segments as follows: 1. Residential property development, comprising condominiums, townhomes, and detached houses, with a primary focus on condominium projects. 2. Construction contracting, furniture and wall manufacturing plants. 3. Medical business group. 4. Serviced apartment business. 5. Cleaning service business.

Financial Statement
6M26 6M25 2025 2024
Income Statement (MB)
Revenues   585.29   1,990.94
Expenses   623.08   1,939.76
Net Profit (Loss)   -213.39   -213.50
Balance Sheet (MB)
Assets   6,655.05   7,046.40
Liabilities   4,741.98   4,919.93
Shareholders' Equity   1,913.76   2,127.15
Cash Flow (MB)
Operating   39.55   63.13
Investing   -3.94   177.32
Financing   -161.42   -313.04
Financial Ratio
EPS (Baht)   -0.19   -0.19
GP Margin (%)   22.06   27.35
NP Margin (%)   -36.46   -10.85
D/E Ratio (x)   2.48   2.31
ROE (%)   -13.93   -9.55
ROA (%)   0.87   0.70
Business Plan
  • Develop real estate in line with the vision "We will excel in residential development," which not only focuses on building good quality homes but also creates living spaces that address every dimension of customer needs.
  •  Develop both high-rise and low-rise residential projects. High-rise condominiums will be developed in locations with convenient transportation, with project sites near rail mass transit systems or electric trains, and close to communities or employment centers with high growth. For low-rise single-detached houses, development will be based on the concept of urban expansion and community growth for those looking to expand their families, with locations not too far from the city.
  •  Increase the proportion of recurring income from developing new business model projects, such as Serviced Apartments, hotels, rental of construction tools and machinery, contract manufacturing of construction components, and expansion into medical business groups, hospitals, and herbal medical products, etc.


Sustainable Development Plan

The Group is committed to conducting business with sustainable growth and appropriately responding to all stakeholders, alongside social responsibility. This commitment includes focusing on supporting education and youth development, as well as social and environmental aspects. The Group has established policies regarding environmental awareness (Environmental preservations), corporate social responsibility (Corporate Social Responsibilities: SR), and good corporate governance (Corporate Governance Code), as well as business ethics and code of conduct, and anti-corruption (Anti-Corruption). The key objectives are to conduct business with fairness, combat corruption, respect human rights, ensure fair treatment of labor, uphold consumer responsibility, preserve the environment, and participate in community development.

Business Highlight

The group of companies' total revenue for the second quarter of 2026  amounted to 377.4 million Baht, an increase of 35.2% from the same period of the previous year, comprising revenue from real estate sales of 279.3 million Baht, an increase of 33.5% from the same period of the previous year, and revenue from the service business group of 82.9 million Baht, an increase of 27.0 percent.

Performance and Analysis
Business Performance Summary

As of June 30, 2026 The company has a total of 17 projects under its network, with a total value of approximately 12,474.5 million Baht, divided into 12 completed projects ready for ownership transfer (total value 6,895.4 million Baht with accumulated transfers of 3,204.4 million Baht) and 5 projects currently open for sale (total value 5,579.1 million Baht). The total backlog for all projects amounts to 2,280.5 million Baht, and inventory awaiting sale totals 6,471.3 million Baht.

Key Milestones
  • 2009   The Company registered its conversion to a public limited company under the name "Chao Phraya Mahanakorn Public Company Limited".
  • 2013 CMC, PPP, SNC, TSN received ISO 14001:2004 and OHSAS 18001:2007 certifications from Bureau Veritas Certification.
  • 2018 Listed and commenced trading on the MAI Stock Exchange on November 19, 2018, with a registered capital of 1,000 million Baht.
  • 2021 The Company moved CMC securities for trading on the Stock Exchange of Thailand (SET), effective November 12, 2021.


Risk Management Policy
  • Risk arising from the Group's operation in a highly competitive business. The Group mitigates this risk by developing projects that emphasize quality and prioritize residents' needs, thereby gaining insight into customer requirements. This approach is complemented by well-defined operational plans, robust internal control systems, and clear management policies, which collectively enable efficient project management and the preservation of competitive advantages in each respective area.
  • Risk concerning financial institutions' housing loan policies. The current economic slowdown, continuously rising household debt, and increasing cost of living have led commercial banks to begin tightening their loan approval criteria.


Recent Awards and Recognitions
  • 2018: Received the Best Affordable Condominium Architectural Design (Bangkok) award, and Highly Commended Best Condo Interior Design (Bangkok), and Highly Commended Best Condo Interior Design (Bangkok) from the Thailand Property Awards 2018 for The Cuvee Tiwanon Intersection project.
  • 2019: The company was certified as a member of the Private Sector Collective Action Coalition Against Corruption (Certificate of CAC Membership).
  • 2023: Received the Prix D'Excellence Awards in the Residential Condominium category from the International Real Estate Federation for The Cuvee Suksawas and The Cuvee Nawamin-Sriburapha projects.
  • 2024: The company participated in the project for assessing the quality of Annual General Meetings of Shareholders of listed companies on the Stock Exchange of Thailand. The company received a full score of 100, rated 'Excellent', in the AGM Checklist assessment.
  • 2024: The company received the Dailynew TOP CEO 2024 award in the Health and Beauty Services business category for the performance of "Cheewarak Sahaklinik", an applied traditional Thai medicine clinic.
Revenue Structure
Revenue from real estate sales 71.7% Service Revenue 23.2% Revenue from Sales of Goods 2% Construction Revenue 3.1%
Stock Information
SET / PROPCON / PROP
Closing price CMC SET index 1.00 0.50 0.00 1644.00 1417.33 1190.67 964.00 1-7-25 29-9-25 26-12-25 26-3-26 30-6-26
as of 30/06/26 CMC PROP SET
P/E (X) 6.32 14.26 16.92
P/BV (X) 0.21 0.85 1.46
Dividend yield (%) - 4.39 4.02
30/06/26 30/12/25 30/12/24
Market Cap (MB) 440.89 540.08 1,146.30
Price (B/Share) 0.40 0.49 1.04
P/E (X) 6.32 - -
P/BV (X) 0.21 0.30 0.53
CG Report:
Major Shareholders
as of 11/03/2026
บริษัท ไพรมัส แอสเซท โฮลดิ้ง จำกัด . (23.59%)
MISS SOPIN PATTAYANUNT (8.22%)
MISS ANONGLUCK PATTAYANUNT (6.50%)
บริษัท ทเวลฟ์ มัลติพลาย แอสเซท จำกัด (6.41%)
MR. WICHIAN PADHAYANUN (5.13%)
Others (50.15%)
Company Information and Contact
http://www.cmc.co.th
0-2468-9000 Ext.1172
No. 909/1 CMC Tower, Floor 6, Room No. 601-602, King Taksin Road, Dao Kanong Sub-District, Thonburi District Bangkok 10600
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