Date/Time 30 May 2025 17:54:53

Headline

Update on the Investigation of Inventory Discrepancy Reported in the 2024 Annual Financial Statements

Symbol WSOL
Source WSOL
SET requests to clarify news or information Subject : Clarification of news or information requested by SET Description : As the Company, WSOL Public Company Limited (the "Company"), submitted a clarification letter regarding the inventory discrepancy reported in the 2024 annual financial statements, pursuant to letter No. SABUY CS 018/2568 dated April 9, 2025, the Company has conducted a preliminary fact-finding review. The initial results indicate that the primary cause of the inventory discrepancy (accounting for approximately 90% of the total loss value) is likely due to inaccuracies in the recording of inventory data within the Company's system. These inaccuracies stem from outdated and incorrect records caused by deficiencies in the Company's internal control systems, as well as long-standing errors that have not been properly corrected or updated. The matter is currently under further investigation and pending conclusion. Regarding the improvement of the internal control system, in the first quarter of 2025, the Company engaged P&L Internal Audit Co., Ltd., an independent external firm with expertise and experience in internal auditing, to conduct a review and assess the adequacy of the internal control system related specifically to inventory management. The initial phase of the audit has been completed, and the findings, including control deficiencies and areas requiring improvement, have been reported to the Audit Committee. At present, the Company is in the process of following up on the implementation of corrective actions to strengthen the internal control system and prevent such losses from recurring. The Company will provide further updates and report the progress to the Stock Exchange of Thailand in due course. Please be informed accordingly. Signature ___________________________ ( Mr.Ithichai Poolvaraluck ) Chief Executive Officer (CEO) Authorized to sign on behalf of the company ______________________________________________________________________ This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement. If you would like to see the full details of this information, please click view "full details" in attached file.