Dr. Sunhavut Thamchuanviriya, Chief Executive Officer of Millennium Group Corporation (Asia) Public Company Limited (SET: MGC), stated that the company’s 3Q25 performance generated a net profit of THB 253 million, growing by 2,526% YoY from THB 10 million and up 370% QoQ from THB 54 million.
The significant growth resulted from: 1) Profit sharing from the indirect associate, Neo Mobility Asia, which began delivering vehicles from 4Q24 and recognized profit through to July 2025, as well as the performance of the automotive distribution group; 2) Increased direct joint venture business from Alpha X, driven by higher revenue in the wealth lending business targeting ultra-high net worth customers and effective operating cost control as per the set plan; and 3) Improved performance of the direct associate, Howden Maxi.
In 3Q25, the company reported total revenue of THB 5.85 billion, a 26% increase YoY from THB 4.53 billion and a 23% increase QoQ from THB 4.74 billion.For the first nine months of 2025, net profit was THB 362 million, rising 619% YoY from THB 50 million, with total revenue of THB 14.66 billion, up 2% from THB 14.35 billion.
The strong 3Q25 results were driven by growth in premium automobiles (BMW), outstanding expansion in Smart EV (XPENG), and the launch of the new G6 Standard Range model, broadening the customer base interested in XPENG’s technological innovations at THB 1.18 million. Recurring income from after-sales, lending, and insurance also increased, further strengthening the group’s financial structure.
Dr. Sunhavut projected that 4Q25 will be the year’s strongest quarter, supported by seasonal factors, the Motor Expo, and the delivery of new models. As of November 12, 2025, the sales backlog included 634 vehicles: 7 Rolls-Royce, 135 BMW, 30 MINI, 34 BMW Motorrad (Millennium Auto), 163 Summit Honda Automobile, 44 Harley-Davidson, 129 XPENG, 91 ZEEKR, and 1 Chris-Craft boat.
He summarized that the company has entered a new phase of structural growth, backed by leadership in the premium and Smart EV megatrend markets and a Multi-Engine business model, laying a foundation for sustainable growth into 2026.
BMW (Thailand) has entrusted Millennium Auto to sell the BMW i7 for its 25th-anniversary celebration, reflecting confidence in MGC-Asia’s after-sales service and ecosystem, helping maintain market share. X Mobility (Thailand) has been appointed by XPENG CHINA as the sole importer-distributor in Thailand, with 16 dealers currently and plans for 6 more branches in 1Q26. The new G6 Standard launch also targets further expansion of the technology-driven customer base.
At ALPHA X, the company maintained robust income from Wealth Lending, albeit at a slower growth pace due to a cautious strategy amid economic sensitivity. The company outperformed pre-provision operating profit targets due to declining financial costs and disciplined cost management. However, impaired receivables from vulnerable early-phase clients continued to pressure net profit below the original business plan. Howden, meanwhile, reported a net income of THB 96 million in the quarter, surpassing the target by 1% and up 19% YoY.
At the board meeting on November 14, 2025, resolutions included: 1) The unanimous decision not to exercise call option rights to purchase shares of specified companies under the Undertaking Agreement dated September 16, 2022, as conditions were not met. 2) Approval of an interim dividend payment from retained earnings as of September 30, 2025, totaling THB 155.93 million at THB 0.14 baht per share (excluding 6,200,000 repurchased shares), covering a total of 1,113,800,000 shares. The ex-dividend date (XD) is November 27, 2025; the record date is November 28, 2025; and dividend payment is set by December 12, 2025. Statutory reserves have been fully allocated.
Additionally, the board approved the sale of 6,200,000 treasury shares—0.55% of outstanding shares—on the Stock Exchange of Thailand (SET), with a selling period from December 17, 2025, to September 17, 2028. If not sold within this period, the company will reduce paid-up capital by canceling the unsold shares. Treasury shares may be sold after 3 months post-completion of the buyback but within 3 years, or by September 17, 2028.
