Dr. Sunhavut Thamchuanviriya, Chief Executive Officer of Millennium Group Corporation (Asia) Public Company Limited (SET: MGC), disclosed to ‘Kaohoon’ that the company’s overall performance for the first quarter of 2026 experienced robust growth, driven by strong expansion across all business segments.
This was especially observable in the Mobility Retailing segment, which underscores MGC’s position as a leader in the Lifestyle Mobility Ecosystem. This integrated business model fully addresses modern travel lifestyles and establishes a comprehensive business ecosystem.
The key driver behind the first-quarter performance was the increasing sales in the electric vehicle segment (EV), fueled by exceptional order intake for premium brands such as XPENG and ZEEKR. Reservations for these models were strong since the 2025 year-end Motor Expo, with a steady flow of deliveries and backorders extending into early 2026 (January-February). Specifically, combined orders and deliveries for XPENG exceeded 1,000 units.
Furthermore, the Middle East conflict in March 2026 led to a surge in oil prices, prompting greater consumer interest in electric vehicles. This trend was evident at the Motor Show in late March to early April 2026, where there was a significant increase in orders, positively impacting ongoing EV deliveries for all brands within the MGC group, a trend expected to continue into the second quarter.
Looking ahead, imminent government policy support is expected to further boost electric vehicle demand, driven by strong real demand from consumers. Consequently, the company anticipates that EV sales in 2026 will deliver double growth compared to the previous year.
Additionally, Neo Mobility Asia Company Limited’s performance in the first quarter grew considerably. This was a result of increasing its shareholding to 100% at the end of last year, allowing it to fully consolidate financial statements for the entire quarter, as opposed to the same period last year, where only a 50% share was held, and only profit or loss from its portion was recognized.
Alpha X, the group’s hire purchase, leasing, and refinancing service provider, continued to generate strong profits in 1Q26. The company remains on track to achieve its targeted loan portfolio expansion for 2026. Similarly, Howden, the integrated insurance brokerage in the group, also reported consistent profit growth.
MGC-ASIA has also taken steps to reassure consumers following reports of some Chinese electric vehicle companies ceasing operations. The group highlighted their strong business foundation, having operated for over 25 years, and noted that it has never depended solely on EV sales. The company’s operations cover all premium automotive brands, complemented by a full-service business ecosystem including after-sales service, insurance, and financing.
The group’s strategy to import Chinese EV brands is thus an extension of its diversified portfolio, aligning with global trends and building on established success. The strong market response to both XPENG and ZEEKR models reflects effective brand selection, and MGC-ASIA is confident in its financial stability and readiness to face market volatility and industry transitions, both currently and in future periods.
Miss Jerdnapang Thamchuanviriya, Chief Financial and Accounting Officer of MGC, stated that the company’s board meeting, scheduled for May 12, 2026, will approve and announce the first quarter financial results. Preliminary indications suggest a significant improvement over the same period last year, owing to expansion across all business segments, including automotive retail, after-sales and maintenance services, chauffeur-driven car rentals, and technology service businesses.
