Nex Point Public Company Limited

Nex Point Public Company Limited, or NEX, and Absolute Assembly Company Limited, or AAB, opened their factory to welcome a delegation from the Bangkok Mass Transit Authority, or BMTA, to confirm readiness to produce and assemble 1,520 electric buses in Thailand. The visit to the AAB factory in Ban Pho District, Chachoengsao Province, on 13 August 2026, relates to the project to lease clean-energy air-conditioned public buses, under which NEX and AAB will supply all 1,520 electric buses to Nakhonchaiair Company Limited, the direct contracting party with the BMTA. AAB was established in 2020 through cooperation between the EA Group and NEX, has a maximum production capacity of about 3,000 to 9,000 vehicles per year, and is the first and only fully integrated commercial electric vehicle manufacturer in Thailand.

Energy Absolute Public Company Limited, or EA, has approved three subsidiaries to receive guarantee support from Double P Land Company Limited to back total credit facilities of 9.77764 billion baht for the Bangkok Mass Transit Authority electric bus project, also known as BMTA. The facilities for NEX and AAB related to the electric bus project total 9.59764 billion baht, comprising 8.545 billion baht for AAB, 1.05264 billion baht for NEX, and 180 million baht for ERH. The credit facilities for NEX and AAB are specifically intended to support working capital for the production and operation of 1,520 electric buses under the project, for which the EA-NEX group has been appointed as manufacturer and assembler. The guarantee arrangements and related contracts are expected to be completed by August 2026.

The extraordinary general meeting of NEX shareholders, the first of 2025, unanimously approved the acquisition of 100% of Thai EV Company Limited, or Thai EV, for a total value of 149.95 million baht. The payment will be made with newly issued NEX ordinary shares, not exceeding 208.27 million shares at a price of 0.72 baht per share, making Thai EV a subsidiary of NEX without using cash or incurring additional debt. An independent financial advisor assessed the fair value of Thai EV using the discounted cash flow method at 165.12 to 201.33 million baht, approximately 9 to 26 percent higher than the transaction price, and deemed the price reasonable. This acquisition will help fill out NEX's commercial electric vehicle portfolio, which previously focused on buses and large trucks, to cover small to medium-sized commercial vehicles, which is Thai EV's expertise. Thai EV has seen 100 percent growth in sales of four-wheel electric vehicles from 2023 to 2025. The impact on existing shareholders is limited, with control dilution of approximately 3.36 percent, reducing Energy Absolute Public Company Limited's, or EA's, shareholding from approximately 77.77 percent to 75.16 percent, while it remains the major shareholder with clear control over NEX.

NEX shareholders have approved a 100% investment in Thai EV Company Limited, which specialises in small to medium electric commercial vehicles. Sales of four-wheel electric vehicles grew 100% between 2023 and 2025. This investment will elevate NEX into a full-service commercial EV solutions provider. Meanwhile, DPAINT has acquired The City Phuket Residence, the developer of The City Phuket condominium project, to add a revenue stream and create a new growth engine leveraging its product and construction strengths. PANEL has secured a new contract for the IEC Hall project from IMPACT Growth Real Estate Investment Trust, boosting its backlog and reinforcing its expertise in acoustic sliding wall panels.

Nex Point Public Company Limited, or NEX, has been appointed by SINOTRUK INTERNATIONAL CO., LTD. as the official distributor of HOWO and SITRAK heavy-duty electric trucks in Thailand. SINOTRUK is a major Chinese manufacturer of commercial vehicles and heavy trucks, with the highest global sales of commercial heavy-duty electric trucks and has held the title of China's top heavy truck exporter for 21 consecutive years, commanding a market share of over 50 percent and cumulative export sales exceeding one million units across more than 150 countries. NEX plans to introduce 4×2 and 6×2 electric truck platforms to the Thai market to serve the transport and logistics sectors, with SINOTRUK providing technical support and training while NEX handles import, marketing, and after-sales service. Mr. Wasu Klomkliang, Chairman of NEX, stated that this partnership marks a significant step in expanding capabilities toward becoming a leader in commercial electric vehicles and a provider of Total Green Logistics Solutions in Thailand.

The policy injecting 200 billion baht under the emergency loan decree to drive clean energy and electric transport systems is positively impacting nine Thai stocks in the solar rooftop and electric vehicle ecosystem sectors. The solar rooftop group that will benefit fully includes GUNKUL from its integrated business covering equipment sales and installation contracting, SOLAR as a panel manufacturer and installation service provider, retail building materials and IT groups such as HMPRO, DOHOME, GLOBAL, and COM7 as distribution channels for ready-made household solar kits, and KTC from low-interest loan measures and installment payments for solar rooftop installation that stimulate card spending. In the electric vehicle ecosystem group, NEX benefits the most in the electric bus and truck segment, EA will ease liquidity concerns and unlock assets from its battery manufacturing and EV assembly plants, while GPSC and GULF benefit from investments in nationwide charging station infrastructure. Analysts recommend a strategy of accumulating on dips or speculating on policy momentum, while cautioning that EV and solar cell stocks often react quickly to policy news. Investors should scale in and avoid chasing prices during sharp short-term rallies.