Message from Chairman

In 2022, despite the situation of the spread of the COVID-19 virus will be resolved to a level that can be controlled however It is still another challenging year for business in all sectors. It started with the war between the Russian-Ukrainian conflict. that has not ended directly and indirectly affecting oil prices Various commodities rose and ultimately lead to inflation As a result, many countries, including Thailand, have to implement policies to increase interest rates. To control the direction of inflation that affects economic and social conditions, including financial markets and investments.

As for the Thai economy in 2022, gross domestic product (GDP) grew by 2.6 percent or 1.1 percent from the previous year. From the official opening of the country since November 1, 2021, it has resulted in the tourism industry. investment industry Including the recovery of private consumption. and resulted in economic expansion However, GDP growth was still lower than expected at 3.2 percent due to inflation. and inflation control policies mentioned above

in the past year It was an important year for the development of the whole company. and its subsidiaries (“the Company”), the Company remains committed to implementing its business plan according to its aspiration to be a bridge connecting the current financial world (Traditional Finance) and the digital financial world (Digital Finance) together with Adjust operational strategies in accordance with various situations that arise.

for current financial world businesses The Thai stock market in 2022, the SET index was at 1,668.66 points, a slight increase of 11.04 points, representing 0.67 percent from 2021. Average daily trading value (excluding securities company accounts) decreased from 85.06 billion baht to 70.66 billion baht, or a decrease of 16.93% compared to the previous year. However, Krungthai X Spring Securities Co., Ltd. (“KTX”) under the securities business was able to increase its market share ranking to 15 out of 38 rankings, an increase from the previous year by 1 order. Change another year Not only committed to providing securities trading services And in the area of financial advisory, including investment banking, KTX continues to develop products, systems and service quality by adding channels for opening securities trading accounts from Offline to Online through the Krungthai NEXT application, which can be officially ready for use in the first quarter. In 2023, this development is considered to raise the standard of financial services. and follow the business development plan in the desire to change from the traditional business to financial wealth management for customers in the group of companies.

For Xspring Asset Management Co., Ltd. (“XAM”) under asset management business It has been fully operational since August 1, 2022. 2022 marks the beginning of business operations. XAM has partnered with other asset management companies to diversify its portfolio of investment products. Over 748 alternative funds, the total value of assets under management and under advice at the end of 2022 was 9,467.91 million baht, an increase of more than 31 percent from the previous year.

For Xspring AMC Asset Management Co., Ltd. (“XAMC”), under its non-performing asset management business, XAMC has started monitoring. Negotiate and collect debts from debtors Including providing assistance to debtors in negotiating debt repayment terms and considering debt restructuring. In order to maximize the benefits for both parties, XAMC also proceeds to bid for the acquisition of non-performing assets for further management. By focusing on expanding relationships with various financial institutions to increase additional channels for purchasing non-performing assets. In the past year, XAMC has successfully acquired additional non-performing assets for management. The total value is about 300 million baht. As a result, at the end of 2022, XAMC has non-performing assets under management worth more than 500 million baht.

In the digital financial world, Xspring Digital Co., Ltd. (“XD”) operates as a digital asset brokerage and digital asset dealer. The past year has been a very challenging year for XD as the digital asset situation has been volatile due to the collapse of cryptocurrencies and overseas trading platforms. This affects XD's digital securities trading business, which was officially launched in September. In addition, the overall picture of tokenization by using assets as underlying assets to raise funds through the issuance of digital tokens in the past year has slowed down. As VAT exemption for investment tokens is still pending consideration by the relevant authorities. However, it is expected that such VAT exemption will take effect within this year. This measure will drive more fundraising and token offerings in Thailand. XD is confident that we have already overcome the crisis for the digital asset market. And it is expected that various situations will improve as the value of the digital asset market gradually increases. Moreover, the rules and regulations are becoming more precise and clear. XD has not stopped developing business models. including resources To prepare for an important step in supporting the new financial system that will drive the economy and create investment opportunities in the future

The next step of the Xspring Group in 2023 will also focus on developing the foundation of the organizational structure, resources, and product development efforts. through a combination of financial products in both segments.