Page 23 - One report AUCT2024_Eng

Part 1
Business Operation and Operating Results
Total Revenue Structure of the Company for the year ended 31 December 2022 - 2024 as follows:
2022 Million Baht
%
83.08 16.28 99.36
0.64
2023 Million Baht
%
80.98 18.35 99.33
0.67
2024 Million Baht
%
84.00 14.98 98.99
1.01
Vehicles auction income Transportation services income Total service revenue
Other income
791.94
155.14
947.08
6.11
1,004.60
227.69
1,232.29
1,094.93
195.32
1,290.25
Development of a auction management system
The Company developed software to support new auction patterns and developed a modern information technology system to support data services for both buyers and sellers which can be customized according to customer requirements.
Bidding with the application system
The Company developed a new auction pattern to meet the needs of bidders and increase transparency in order to build both the buyer's and sellers confidence. The focus is on using software technology to change auction patterns from raising bidding cards to bidding through the application system.
“AUCT LIVE” system, improved and used over 9 years to accommodate bidders who want to participate in bidding from any location that has internet access. Online bidders see a live video feed and hear the audio from the auction site via the Application. The Company used to rent software from overseas that was very expensive. In the middle of 2016, the Company started using the AUCT LIVE system that the Company developed and it was successful which aims to reverse bidding patterns to a whole digital bidding system. Through the use of the application, the bidder’s behavioral data will be collected at every stage and this increases transparency and the ability to monitor at all times. The system has been continually developed until the present. At present, the Company is developing an updated version of the AUCT LIVE system to make it more modern and better responsive to usage. It is expected that it will be completed and ready for use in the end of 2025.
Auction System on a Mobile Application with Audio and Video from a Live Location
The Company developed an E-Auction System under the name "AUCT LIVE", which supports online auction by displaying live video and audio from the auction site in real time. The system is still limited to display video and audio on computers and notebooks only. The Company is developing the system to
8.32
13.21
Total revenue
953.19
100.00
1,240.61
100.00
1,303.46
100.00
บริษัท สหการประมูล จากัด (มหาชน)
23
Union Auction Public Company Limited