Dr. Sunhavut Thamchuanviriya, Chairman of the Executive Committee of Millennium Group Corporation (Asia) Public Company Limited (SET: MGC), stated that the company’s performance in the latter half of the year is expected to show a stronger outlook compared to the first due to a gradual delivery of more than 1,000 back orders for ZEEKR and XPENG’s electric vehicles (EV) in third and fourth quarter.
EVs from other partner brands, including Mini, Maserati, and Rolls-Royce Spectre, also continue to have high-growing sales, reflecting the consumer’s confidence in the current EV, all in terms of the brand, quality, specification, and battery. The consumer can now drive EV further than before and access the charging station more conveniently.
Dr. Sunhavut added that MGC has adjusted the proportion of EV, hybrid vehicle, and internal combustion vehicle for several brands’ portfolio to guarantee coverage of all the segments, allowing the company to introduce the vehicle at the right location, time and with proper price.
Furthermore, the company also adjusted the proportion of its revenue recognition on after-sales and rental services, along with studying new business models to address MOBILIFE’s members and consumer behaviour that is constantly changing.
MGC’s total revenue target this year remains at 10% growth from 2024’s revenue of THB 20.33 billion, reflecting the company’s leadership in the comprehensive automotive retail business sector with a total base of customers of 500,000 – 600,000.
The company also has several positive factors, including increased consumer confidence in EVs, reflected in continued sales growth, the government stimulus measures set to begin in the middle of the third quarter, and the appointment of the new Bank of Thailand governor, signaling a potential interest cut – a move that could benefit MGC by lowering the company’s costs.
Dr. Sunhavut noted that regarding investor confidence and interest in investing in MGC shares, such topics will depend on the company’s performance as electric vehicle deliveries ramp up, with Xpeng in particular, which has already reached over half of its annual sales target. This should translate into improved results in the last two quarters of 2025.
However, MGC does not aim for rapid, exponential growth, but rather steady and sustainable development. Most importantly, the company is committed to delivering appropriate and worthwhile returns to investors.
As for the Alpha X business, MGC has been arranging its portfolio, with a focus on vehicles, which offers easier access to customers compared to other products. In addition, the company also focuses on lending business, providing asset-backed and wealth lending. This allows MGC to better manage its portfolio.
