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Chaosua Foods Industry (SET: CHAO) opens trading on the Stock Exchange of Thailand
Chaosua Foods Industry (SET: CHAO) opens trading on the Stock Exchange of Thailand, 7/10/2024 - BANGKOK, July 9, 2024 - (ACN Newswire) - Chaosua Foods Industry PCL ('CHAO') today listed its shares for trading on the Stock Exchange of Thailand (SET) in the "Agro & Food" (AGRO) industry group under the "Food and Beverage" (FOOD) business sector, using the abbreviation CHAO for share trading. The Company boasts market leadership in "modern Thai snacks", which have been popular with consumers for decades.

CHAO, with 66 years in the industry, is now ready to leverage current successes by taking Thai brands to the global stage, introducing the "Chaosua" and "Wholesome" brands to a worldwide market under the "Bring Local to Global" concept.

The Company is also moving forward with the construction of the second "Wholesome" brand factory and further upgrading operating system automation to support the growth potential derived from expanding overseas markets. This is reflected in the 1Q/2024 operating results, which show net profit for the quarter expanding by 43.4%.

Ms Napatr Morin, Chief Executive Officer of CHAO, said the Company has always been committed to creating tasty food products and can be relied upon to produce consistently high-quality products. This characteristic has been driven by innovations and care for the planet. The Vision is to bring the secret recipes of Chaosua's Thai flavours to the international market while continuously creating new products to fit the "Everyday Consumption" approach in response to the lifestyle of consumers on every occasion, including being the preferred choices for consumers as "Better-For-You Snacks".

At the same time, the Company is determined to create growth in the global market by developing the Chaosua and Wholesome brands into the appropriate and universally accepted global brands under the "Bring Local to Global" concept. This is a part of the drive to grow the Company in quantum jumps in a bid to maintain the leadership in the business of producing and distributing "modern Thai snacks to continually meet the lifestyle needs of consumers. The Company will also continue to expand distribution channels to cover both domestic and international markets to create sustainable growth.

"In listing 'CHAO' on the Stock Exchange of Thailand, we believe that this move will help promote growth - from the accessibility to capital and to the expansion of production capacity. We are preparing to build the second 'Wholesome' factory, along with being ready to further create continuous growth, maintain leadership status in the rice crackers and snack foods processed from pork products, and expand the production of new products in response to current and future consumption trends. More importantly, the company is fully mindful of its responsibility towards society, the environment and all stakeholders, to create good returns for investors in the long term," Ms Napatr said.

Ms Intu-on Morin, Director of Accounting & Finance, CHAO, said that over the past three years, the Company has achieved strong operating results, both in revenue and net profit. In 2021, 2022, and 2023, revenues from sales were 1,135.1 million baht, 1,413.6 million baht, and 1,493.4 million baht, respectively, representing an average annual growth rate of 14.7%.

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