New Businesses Secure More Than THB 100 Million in Projects, Supporting Second-Half Revenue
A5 reported total revenue of THB 331 million for Q2/2026, up 53% quarter on quarter, and net profit of THB 35 million, driven by the progressive recognition of transfers at CINQ ROYAL The Eighteen Bangna KM.7. With a backlog of THB 855 million as of 7 August 2026 and more than THB 100 million in projects secured by A5 Design and Upper Class Solution, the company expects its new businesses to support second-half revenue growth.
Mr. Supachoke Panchasarp, Chief Executive Officer of Asset Five Group Public Company Limited (A5), said the company recorded total revenue of THB 331 million in Q2/2026, an increase of 53% from the previous quarter, and net profit of THB 35 million. Growth was driven by revenue from ownership transfers at CINQ ROYAL The Eighteen Bangna KM.7 and the progressive contribution from A5 Design and Upper Class Solution.
As of 7 August 2026, A5 had a sales backlog of THB 855 million from CINQ ROYAL The Eighteen Bangna KM.7, CINQUIÈME Krungthep Kreetha, VANA Ratchapruek-Westville and Baan Rachaya Ekamantra in Udon Thani. Revenue recognition is scheduled to begin progressively from Q3/2026.
A5 continues to manage its project portfolio in line with property-market conditions, while systematically planning construction and handovers to convert backlog into revenue as scheduled and build a more consistent revenue base in the second half.
The company’s new businesses are also taking on a clearer role. A5 Design, which provides integrated design, decoration, renovation and construction services, has secured work worth more than THB 100 million. Upper Class Solution, A5’s integrated residential management and homeowner-care business, has already generated more than THB 10 million in revenue, which is recognised progressively over service-contract periods. A5 plans to expand both businesses beyond the Group’s own projects to diversify revenue and strengthen long-term growth.
A5 also continues to manage its capital structure, liquidity and cash flow prudently. Its debt-to-equity ratio stood at 1.09 times at the end of Q2/2026, down from 1.20 times at the end of 2025, reflecting financial discipline and a balanced approach to growth investment and operating flexibility. The company is also adjusting construction plans and inventory management to market conditions and customer demand while maintaining project quality, controlling costs and cash flow, and keeping construction, handovers, transfers and revenue recognition on schedule.
“The second-quarter results show a positive direction from the previous quarter. Our priorities are to convert backlog into revenue as planned, develop distinctive projects that preserve both living standards and long-term asset value, and build a Luxury Living Ecosystem connecting project development, design and decoration, and after-sales services. Together, these initiatives will support quality growth in the second half,” Mr. Supachoke said.
