Polynet PCL

Stock Focus today rounds up the key points on several stocks. BGRIM is likely to close deals for large IPP gas-fired power plants in Vietnam and Malaysia totalling 3,000 megawatts by late this year to early next year, and is preparing to file for extensions of 22 existing power plant projects with a combined capacity of 3,000 megawatts under the PDP plan, and will open the first phase of its data centre this November. ADVICE said the iPhone 18 is hot, with the iPhone 18 Pro Max fully booked in pre-orders, and handsets will start being delivered this Friday, which will support third-quarter revenue in 2026, while the company maintains its full-year revenue growth target of 15% from a year earlier and aims to reach 29 branches by the end of 2026, up from 22 in the first half. MMM is pressing ahead with new partners to supply the property business, maintaining a stock of 800 units, with a strategy targeting the 4-5 million baht price segment, drawing on its Prukasa subsidiary to help with construction, and is confident fourth-quarter results will peak, targeting full-year growth of 30-40%. KCC has set its sights on 2026, aiming to bring 500 million baht of NPLs into its portfolio and grow at least 30% after raising 450 million baht through debentures, and is studying plans to buy more NPAs. EURO is expanding the luxury market together with SC, opening the luxury villa project The Gentry Cultivar Rama 9 priced at 30-50 million baht. POLY reaffirmed its full-year revenue growth target of 10% after first-half revenue of 628 million baht, with its automotive business rising to a 60% share on continuous orders from Toyota, and has just set up a subsidiary to move into the electrical and electronics business as a new S-curve. MGC is extending its Mobility Ecosystem through its SIXT car rental business, partnering with ROYS HOTEL to provide electric XPENG vehicles to shuttle guests, with ROYS HOTEL spending 300 million baht on a major renovation and aiming to open in 2027. In insurance, the cabinet approved a national catastrophe insurance plan covering 30 million households, with protection against floods, storms, earthquakes and loss of life, starting this October 1. TWPC is set to drive sales growth in its overseas food and sauce business above 10% after acquiring Well-Grow, which began contributing revenue in September, supporting fourth-quarter 2026 results. Brokers recommend buying KLINIQ and MASTER on expectations that second-half profit will accelerate, with KLINIQ having a network of more than 84 branches. SCB EIC reaffirmed that foreign capital remains interested in investing in Thailand and is watching for the government to issue new data centre rules this year. Finansia recommends buying STECON with a target of 22.50 baht, and Globlex recommends WHA with a target of 5.40 baht. SIRI is pushing low-rise sales towards a target of 25 billion baht and will launch Burasiri Well Krungthep Kreetha worth 6 billion baht, priced at 23-40 million baht, during September 19-20. BEM said the Expressway Authority of Thailand is discussing ways to reduce the impact before raising tolls on the Chalong Rat expressway on December 15, with the new rates starting at 80 baht for four-wheel vehicles, 130 baht for six-to-ten-wheel vehicles and 180 baht for vehicles with more than ten wheels. ONEAM will hold a meeting of GROREIT trust unitholders on October 28 to vote on selling the Royal Orchid Sheraton hotel, with three options: having ROH buy it back for 4.873 billion baht, selling it to Orchid Hospitality, which has offered 5.3 billion baht, or holding a general auction. If the sale succeeds, the trust will immediately proceed with liquidation.

Polynet Public Company Limited, or POLY, a manufacturer of automotive industrial parts, consumer products, and medical instruments, disclosed that it expects its business in the second half of 2026 to improve on the first half, while maintaining its full-year revenue growth target of 10% compared with 2025, when revenue was about 1.2 billion baht, after generating 628.06 million baht in revenue in the first half of this year. Chief Executive Officer Kanchana Laorattana said the automotive business group, which accounts for about 60% of total revenue, continues to receive orders from Toyota, and the company is in the process of adjusting selling prices to reflect higher costs, with completion expected in the third quarter of 2026. The consumer products group accounts for about 20%, and the medical instruments and equipment group another 20%. Most recently, the company established Polynet Electric and Solutions Company Limited, wholly owned at 100%, to expand into the electrical, electronics, and power transmission system businesses as a new revenue source, or new S-Curve, building on its existing rubber, plastic, and silicone parts business.

Poly Net Public Company Limited, or POLY, expects the revenue share from its automotive parts manufacturing business to rise to more than 60% this year, up from around 50% previously. This follows Toyota Motor Thailand's report of cumulative six-month sales of 117,333 units, representing a 33.82% market share and 3.02% growth compared to the same period last year. Pickup trucks and eco-cars have domestic parts usage rates as high as 91% and 79%, respectively. Ms. Kanchana Laorattana, Chief Executive Officer of POLY, said that orders for automotive parts have clearly improved. The company has invested about 10 million baht to purchase two new machines, increasing production capacity and reducing costs. It targets 15% revenue growth in 2026 from the 2025 level of approximately 1.2 billion baht, supported by hybrid vehicle orders and the steadily growing medical equipment segment. The weaker baht, at around 33.41 baht per US dollar, has no impact as the company sets its selling prices in baht.