Mr. Poonphiphat Tantanasin

Chief Executive Officer

In 2024, the global and Thai economies experienced only slight growth, while political and geopolitical conflicts in various countries had worldwide impacts. However, infrastructure development investments both domestically and internationally continued to progress, driven by the increased use of clean energy and other renewable energy sources. The expansion of clean energy infrastructure and the implementation of policies aimed at achieving Net Zero Emissions have led to private sector investments in adaptation to these changes. These developments have been beneficial to the transformer and renewable energy industries, as every expansion of energy infrastructure and investment in renewable energy drives higher demand for transformers, energy-related products, and services, contributing to overall energy sector growth.

“QTC” has leveraged these circumstances to strategically drive the organization forward, navigating key challenges in 2024 with caution. The company has invested in the energy sector by establishing QTC RE Co., Ltd., which operates as a distributor of comprehensive clean energy products in Thailand under leading global brands. Additionally, the company founded QTC EV Co., Ltd., which focuses on investing in charging infrastructure to support nationwide electric-powered transportation. A key strategy has been collaborating with business partners to ensure stable and sustainable business growth. The transformer business remains QTC’s core business, with growth opportunities driven by infrastructure and renewable energy investments. Additionally, demand for high-efficiency transformers, energy-saving solutions, and smart transformers is increasing. QTC continues to research and develop products to fully meet customer demands. In 2024, the company recorded total revenue of 1,542.52 million baht, reflecting a 13.34% growth from 2023, with a net profit of 112.69 million baht, a 68.47% increase from the previous year. This success resulted from efficient organizational management across all areas, driven by the executive team and employees. Going forward, QTC will continue expanding investments in the transformer business to support growing infrastructure and clean energy investments both domestically and internationally. The company will also seek new investment opportunities to provide comprehensive energy solutions, in alignment with its corporate vision.

In terms of internal organizational management, the company continues to prioritize human resource development and promotes excellence in Environmental, Social, and Governance (ESG) practices.

Environment (E : Environment) The company has promoted a “Green Culture” within the organization through work processes and innovations to minimize environmental impact. The company has set targets to achieve Carbon Neutrality by 2035 and Net Zero by 2050, emphasizing the need for behavioral changes, process improvements, upgrades to tools, machinery, and vehicles, and increased use of clean energy to meet these goals and ensure a sustainable environment for future generations. In 2024, the company was certified as a member of the Thailand Carbon Neutral Network under the category of “Climate Action Leading Organization (CALO)”, marking a significant milestone in achieving its announced sustainability goals.

Social (S : Social) The company has continuously promoted a “Safety Culture”, recognizing workplace safety as a key risk for “QTC”. In 2024, the number of accidents slightly decreased compared to 2023, with a decline in accident severity. Analysis by the Safety Committee identified that most accidents resulted from worker negligence and unsafe environments, which remain critical concerns for the company’s management and board of directors. The company remains committed to its Zero Accident target. Over the past year, the company has supported organizational well-being initiatives to enhance employee satisfaction and promote human rights compliance, leading to the receipt of the “Private Sector Moral and Well-Being Organization Award 2024” and the “Model Organization for Human Rights 2024 (Honorable Mention in the Large Business Category)”. The company also prioritizes community engagement and development. In 2024, it held the “QTC Community Dialogue” for the 11th consecutive year, bringing together community representatives and local government agencies to discuss community needs and collective benefits. The discussions identified projects that “QTC” could support, primarily in the education sector, which will be developed into joint initiatives and implemented in 2025. As a result of these efforts, the company achieved a 100% rating in its Community Engagement Assessment for 2024.

Governance (G : Governance) The company has promoted excellence in governance practices, emphasizing its critical importance. All executives must set a good example, and all employees must strictly adhere to the established guidelines, forming a shared commitment to uphold governance standards. All operations must be transparent and auditable, ensuring trust among all stakeholders. In 2024, there were no complaints or whistleblower reports regarding violations of the business code of conduct. Additionally, the company received the “Investors’ Choice Award 2024”, recognizing listed companies with outstanding performance in organizing annual shareholder meetings for 10 consecutive years under good corporate governance, fair and transparent business operations, and full disclosure of information to shareholders. The company remains committed to maintaining high business standards to drive sustainable growth.

We fully recognize that prioritizing and actively implementing all three aspects of ESG: Environment, Social, and Governance, alongside responsible business growth, will enable the company and all stakeholders to achieve sustainable growth together.

Finally, on behalf of the company’s Board of Directors, executives, and employees, we would like to express our gratitude to all shareholders, customers, trading partners, general people, and all groups of stakeholders who always support and encourage the company properly. We would like to promise that we will perform all operations based on our vision, missions, and given sustainable development framework. In addition, we will strive and dedicate to develop production process, tools, machines, and human capital among economic and social changes sustainably and stably.