Digital Form 56-1
One Report 2025

In 2025, global economic volatility remained elevated, pressured by shifts in international trade policies and the prolonged impact of geopolitical conflicts, which disrupted supply chains and increased production costs worldwide. The Thai economy in 2025 experienced a gradual recovery. Nevertheless, the economy continued to be supported by the rebound of the tourism sector, accelerated government budget disbursement, and the adjustment of the private sector.

Amid these challenging and rapidly changing circumstances, 2025 marked another significant year for NEO in elevating its business standards to the international level. We recognized opportunities within the evolving fast-moving consumer goods (FMCG) market, which has increasingly emphasized sustainable innovation and greater social responsibility. We remain committed to our vision of becoming “Asia’s innovative FMCG company who elevates quality of life with people-centric approach,” operating under principles of good corporate governance while driving the organization through innovation and ethics to achieve quality and sustainable long-term growth.

With a strong organizational culture that fosters innovation, over the past year NEO has continuously developed and introduced new and improved products to the market, focusing on delivering features that address the diverse needs and lifestyles of consumers. We have also proactively entered new high-potential markets to expand our customer base and drive regional growth. As a result, our products received international recognition through the International Innovation Awards 2025. All of these achievements stem from our deep understanding of the market and our ongoing commitment to being purpose-driven brands that consistently create value.

Creating quality products and services, alongside operations that adhere to sustainability principles, remains at the core of our organizational drive. This year, NEO was selected for inclusion in the “ESG100” sustainable stocks list for the first time, reflecting investors’ confidence in our operations that prioritize environmental, social, and governance (ESG) considerations. With our commitment to transparent management, we also received a 4-star “Very Good” corporate governance rating from the Thai Institute of Directors Association (IOD), representing the trust the Company has continuously built over time.

These achievements would not have been possible without our employees, who are the most important driving force of the organization. We believe in fostering a positive work environment and promoting employee development, while placing importance on the happiness and well-being of our people. As a result, we received two awards from HR Asia: Best Company to Work for in Asia for the sixth consecutive year and Most Caring Company for the second consecutive year. In addition, we were ranked as The Most Attractive Employer 2025 by the Future Trend Award 2025, placing among the top 10 most attractive companies for the new generation, demonstrating that NEO is an organization where talented young professionals aspire to work.

On behalf of the Board of Directors, I would like to express my sincere appreciation to our shareholders for their trust, our customers for their continued support, our business partners for being part of our success, and especially all employees for their dedication and commitment that have led to these shared achievements and pride. We remain determined to uphold standards of excellence, continuously develop innovations, and enhance the potential of Thailand’s industry to achieve stable growth on the Asian stage.

The year 2025 served as another testament to NEO’s determination and strong capabilities as one of the leaders in the fast-moving consumer goods (FMCG) industry amid a rapidly changing landscape. We did not merely adapt; we moved forward with confidence, transforming every challenge into an opportunity for growth.

Globally, Southeast Asia is being closely watched as a “key engine” driving consumption, supported by rising household wealth and urbanization. At the same time, today’s consumers are more discerning in their purchasing decisions, seeking “value for money,” placing greater emphasis on health and hygiene, and embracing innovations that address personalized needs. This new phenomenon has been accelerated by the rapid development of AI technologies and social commerce.

With a deep understanding of market dynamics and evolving consumer behavior, NEO Corporate has defined clear directions and strategies to navigate challenges while pursuing new opportunities, aiming to become Asia’s innovative FMCG leader that delivers sustainable growth and enhances people’s quality of life. In 2025, NEO achieved excellence across multiple dimensions, including operations, innovation and product development, and resource management, as reflected in our outstanding growth performance and numerous awards and recognitions at both national and international levels.

Our success has been driven by robust business strategies, including the “Segment Creator” strategy, which focuses on creating added value and introducing differentiated product innovations to pioneer new markets (New S-Curve), and the “Innovation-led Premiumization” strategy, which elevates our products into premium and premium-mass segments across various categories. As a result, our business growth last year was twice the market average. Despite rising raw material costs, we remained committed to efficient cost management and strategic investments to strengthen the organization’s long-term and sustainable growth.

Moreover, innovation continues to serve as the foundation that enables NEO to overcome every challenge. We are committed to advancing research and development excellence through collaborations with leading international and domestic research institutions, including the Thailand Institute of Scientific and Technological Research, as well as researchers from top Thai universities. These partnerships enable us to create products that precisely address consumer needs and enhance convenience in response to changing lifestyles. Examples include product groups designed to address odor concerns associated with hormonal changes among the elderly (Silver Age), environmentally friendly products, and our latest pet care products developed through innovations that understand the needs of both pet owners and their dogs and cats. In addition, we prioritize the use of modern production technologies to manage our factories and maintain international manufacturing standards to deliver products that genuinely enhance the quality of life for consumers of all ages.

At the same time, we place strong emphasis on conducting business under the ESG framework, guided by the concept of “Innovation from Core to Care – Good Thinking for the World, Better Innovation for You.” This principle is embedded in every process to create sustainable value. We are committed to environmental management throughout the supply chain, actively driving the circular economy in a concrete and measurable manner, while steadfastly pursuing our Net Zero 2050 target.

One of our proudest achievements over the past year was reducing our total greenhouse gas emissions by 19.7%, which is close to the short-term target of 20% set from 2023. The transition of our primary fuel from fuel oil to liquefied natural gas (LNG) reduced CO emissions by 16%. Furthermore, we reduced the use of virgin plastic in our packaging by 24%, exceeding our 20% target, and achieved 82% recyclable packaging. These accomplishments reflect our commitment to promoting the circular economy and strengthening credibility among consumers who value ESG principles. Our factory also received Green Industry Level 5 (Green Network) certification from the Ministry of Industry, a distinction achieved by only 0.16% of factories nationwide, as a result of our continuous environmental improvements and collaboration with partners throughout the supply chain. In addition, our strong focus on workplace safety earned us the Zero Accident Campaign 2025 award.

Undoubtedly, the key driver of NEO’s success is our people. We believe in fostering a positive work environment and continuously developing our employees’ capabilities, making NEO a “home of happiness” where people enjoy their work and are empowered to create innovations. We emphasize an organizational culture that promotes agility and transparency, enabling every employee to actively participate in shaping and advancing the organization.

With determination and a clear vision, we will continue to research and develop transformative innovations that reshape markets and meet the evolving needs of modern consumers. We are committed to creating superior and environmentally friendly products, while conducting our business responsibly toward society and the environment, in order to sustainably deliver a better quality of life for all.