At the same time, Southeast Asia remains one of the regions with strong growth potential, supported by the expansion of the middle class and the continued growth of online distribution channels through various e-commerce marketplaces. These developments present significant opportunities for businesses that can adapt quickly. However, the cosmetics and consumer goods sectors in Thailand were notably impacted by the decline in Chinese tourist arrivals and the prolonged slowdown in neighboring markets during the latter half of the year.

Amid these circumstances, Karmarts Public Company Limited remains committed to its business approach of “speed with structure,” alongside sustainable growth. The Company has enhanced its organizational agility to better respond to market signals and evolving consumer demands in a timely manner.

In terms of growth, the Company has focused on further developing brands and products to better meet the needs of modern consumers. By leveraging data-driven insights combined with a deep understanding of consumer behavior in each market, the Company aims to strengthen its competitive advantages. At the same time, the Company has expanded strategic collaborations with business partners and digital influencers. Rather than launching new brands, the Company has prioritized expanding distribution channels to ensure broader and more accessible reach to end consumers.;

In addition, the Company continues to expand into international markets, focusing on strengthening its brand presence at the regional level and advancing toward becoming a globally competitive brand portfolio. This is achieved through tailored strategies for each market while preserving the unique identity and value of each brand.

For the past fiscal year, the Company’s financial performance fell short of its initial targets but remained satisfactory given the volatile market conditions. Total revenue reached THB 3,484 million, representing an increase of 8.75% from the previous year, driven primarily by the continued growth of the cosmetics segment, which remains the Company’s core revenue contributor. Net profit amounted to THB 706.69 million, an increase of approximately 4.24% year-on-year. The relatively lower profit growth compared to revenue growth was mainly due to a THB 165.72 million increase in marketing investments for new brands launched during 2023–2024.

As a result of the Company’s continued performance growth over the past years, in late 2025, Wellsiam Company Limited, a Thailand-based subsidiary fully funded by Marubeni Corporation, a leading Japanese trading and investment company, proposed an additional investment in the Company through a Partial Tender Offer (PTO) with 128.3 million shares increment, representing a 10% stake at a price of THB 9.80 per share, with a total value of approximately THB 1,257 million. The primary objective of this investment is to support the Company’s growth both domestically and internationally. This marks a significant milestone and reflects the confidence of our strategic partner in the Company’s long-term growth potential.

On behalf of the Board of Directors, we extend our sincere appreciation to our shareholders, partners, employees, and all stakeholders for their unwavering support and trust in KARMART. Your confidence has been instrumental in driving the Company’s success through an ever-changing business landscape. As we enter the next phase of growth journey, we reaffirm our commitment to you, ensuring that every strategic initiative aligns with long-term value creation, market leadership, and sustainable success. With a clear vision and strategic direction, we remain steadfast in our goal to become a leading branded beauty provider on a global scale, delivering value, innovation, and excellence to consumers worldwide.