Kumwell Corporation Public Company Limited

Globlex Securities, or GBS, has selected 6 stocks expected to benefit from government measures supporting Solar Roof installations, including GUNKUL, GULF, SOLAR, COM7, KUMWEL, and ASEFA. This comes amid a volatile Thai stock market trend in September 2026, with the SET Index estimated to range between 1,550 and 1,620 points. Meanwhile, July exports expanded 21.6% year-on-year to $34.7891 billion, and tourism remains a support after cumulative foreign arrivals reached 20.6 million, generating over 980 billion baht in revenue. Additionally, the "Thai Teaw Thai Plus 2026" measure will open registration for 1 million rights on October 1, 2026. However, attention must be paid to WTI crude oil prices surging to $90 per barrel and the stance of the Fed, which may maintain tight monetary policy after a 9-to-3 vote to keep interest rates at 3.50-3.75%.

KUMWEL is moving forward with expanding its Kumwel Clinic network, aiming to reach 10 provinces by the end of 2026 and expecting to start recognizing revenue from the third to fourth quarter of this year. It has currently signed representatives in 3 provinces, namely Phuket, Surat Thani, and Chonburi, and is preparing to sign in 3 more provinces under the concept of one province, one clinic, to provide EMC system inspection and lightning protection system services to small and medium-sized enterprises. The company also has an opportunity to recognize revenue from the BOI Plus project worth approximately 100 million baht for training and upskilling industrial personnel during the third to fourth quarter of this year. Meanwhile, the megatrend of rapidly expanding data center investment is supporting demand for lightning protection and grounding systems that meet international standards, opening opportunities for KUMWEL to compete for new projects in Thailand. For the full year 2026, the company still targets total revenue growth of 50% from the previous year, with first-half revenue of 512.63 million baht and net profit of 63.88 million baht.