Page 42 - One report AUCT2024_Eng

Part 1
Business Operation and Operating Results
the Company places importance on the auction of assets in order to create a competitive price, close to the seller's debt at a fair and reasonable price. On the other hand, the Company also has business partners who are purchasers, so they need to purchase various products at acceptable prices as well. Recognizing the importance of business partners can increase the Company’s business opportunities and revenue including expand the customer bases sustainably.
2. Smart Provision
The Company places importance on products and services responsibility by having a comprehensive process on inspection and assessment of condition of assets including provision of complete details of assets before entering the auction, so that the sellers can use them as guidelines to determine the price and the purchaser can use them to support the decision making on bidding the prices.
3. Smart Auction
The Company has developed work processes by using digital technology to assist in the auction. Apart from the conventional auction format of which the purchasers must come to the auction yard, currently, the technology developed by the Company enable the Company to simultaneously conduct auction both online and onsite to facilitate the customers who are not convenient to travel to the yard, so they will not miss the auction opportunity and can participate in the auction anywhere. In addition, the Company has upgraded the system development to allow the business partners, both purchasers and sellers, to conveniently access to information of the assets to be auctioned, so it can strengthen confidence on transparent and accountable auctions.
4. Smart Communication
The Company recognizes the importance of communication. In addition to information about the property to be auctioned which must be clear, the Company also focuses on providing knowledge about the auction from the beginning to the end of the auction process. The Company plans to provide training for the general public who are interested in vehicle as well as new businessmen who are interested in auction for resale, which will help promote circular economy business in the economic system.
5. Smart Service
Apart from the provision of auction process and after-sales services, the Company also places importance on the value of delivering quality products which include post-auction transportation services or "AUCT Serve" to increase convenience for purchasers, garage recommendation for vehicle repair and modification or “AUCT Garage Friend” at fair prices, as well as car insurance service and sales of vehicle equipment and spare parts.
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Annual Registration Statement / Annual Report 2024
(Form 56-1 One Report)