LIC COMPANY LIMITED AND ITS SUBSIDIARIESIN SHAREHOLDERS' EQUITY DECEMBER 31, 2025 750,000.00-13,262,888.00-438,291,811.24(42,125,987.42)(13,262,888.00)-819,233,102.43(42,125,987.42)88,750,356.82(4,267,219.25)907,983,459.25(46,393,206.67)750,000.00---13,262,888.00---396,165,823.82-(99,780,903.26)5,805,403.36(13,262,888.00)---777,107,115.01-(99,780,903.26)5,805,403.3684,483,137.57(22.12)(6,757,552.8)-861,590,252.58(22.12)(106,538,456.06)5,805,403.36750,000.00----13,262,888.00-(13,262,888.00)--302,190,323.92499,658.00--(188,694,537.78)(13,262,888.00)-13,262,888.00--683,131,615.11--48,364,400.00(188,694,537.78)77,725,562.65---(5,860,248.85)760,857,177.76--48,364,400.00(194,554,786.63)750,000.00 - 113,995,444.14 - 542,801,477.33 71,865,313.80 614,666,791.13 Treasury shares ropriated toal reserveAppropriated totreasury sharesreserveTotal shareholders' equityof the parentNoncontrollinginterestsTotalshareholders'equityUnappropriated Baht Consolidated nancial statements le to owners of the parent Retained earningstatements.Annual Report 2025
INTERMADICAL CARE AND LAB HOSPITAL PUBLISTATEMENT OF CHANGES IN SHFOR THE YEAR ENDED DBalance as at January 1, 2024Total comprehensive income for the year Profit for the year Other comprehensive income for the year107,500,000.00--262,690,733.19--558.0Balance as at December 31, 2024Reduct treasury sharesAppropriated to treasury shares reserveIncrease share capitalTotal comprehensive loss for the year Loss for the year242421107,500,000.00(499,100.00)-11,500,000.00-262,690,733.19--36,864,400.00-558.0(558.00Balance as at December 31, 2025 118,500,900.00 299,555,133.19 Issued andpaid-upshare capitalPremium onordinary sharesPremium ontreasury shareNote fiNotes to the Financial Statements form an integral part of these nancial stIntermedical Care and Lab Hospital Public Company Limited
IC COMPANY LIMITED AND ITS SUBSIDIARIESHAREHOLDERS' EQUITY (CONT.)DECEMBER 31, 2025 00--10,750,000.00--13,262,888.00--24,744,221.5636,824,046.64 2,622,891.59(13,262,888.00)--819,233,102.4336,824,046.642,622,891.59000)---10,750,000.00----13,262,888.00-(13,262,888.00)--396,165,823.82 499,658.00--(25,307,503.98)(13,262,888.00)-13,262,888.00 -- 445,132,450.98--48,364,400.00(25,307,503.98)- 10,750,000.00 - 39,383,313.81 - 468,189,347.00 nesTreasury shares Appropriated tolegal reserveAppropriated totreasury sharesreserveTotal shareholders' equityof the parentUnappropriated Baht Separate nancial statements Retained earningstatements.Totalshareholders'equity145Annual Report 2025
Notes to the Financial Statements form an integral part of these financial statements.STATEMENT OF CASH FLOWS Baht Cash flows from operating activitiesProfit (loss) before (income) tax expensesAdjustments to profit (loss) before (income) tax expenses to cash provided by (used in) from operations: Allowance for expected credit losses (reversal) Allowance for decline in value of inventories Depreciation and amortization Loss from cancellation of lease contract (Gain) loss from sale and write-off assets Loss from sale and write-off intangible assets Write-off witholding tax Interest income Employee benefit expenses Interest expense Dividend income (182,935,573.61) (73,258,915.54) 38,697.23 55,813,124.81 487,500.00 (261,590.23) 350,012.00 449,320.53 (166,355.63) 2,662,458.00 56,782,951.56- (111,687,948.17) 37,663,524.89 1,711,892.79 59,832,203.63 281,640.54 (114,991.46) 612,525.16- (354,565.47) 3,419,050.49 66,576,466.63- (25,718,129.62) 424,658.48- 12,115,664.92- (283,876.92) 350,000.00 449,320.53 (2,501,455.56) 1,480,611.00 43,835,496.05- 36,326,861.60 473,289.32- 14,999,012.25- 242.54 342,400.00- (2,162,944.16) 2,003,401.00 48,502,735.18 (98,409,377.88)Profit (loss) from operations before changes in operatingassets and liabilitiesChanges in operating assets - (Increase) Decrease Trade and other current receivables Contract assets Inventories Other current assets Other non-current assetsChanges in operating liabilities - Increase (Decrease) Trade and other current payables Other current liabilities Employee benefit paid Other non-current provisions Deferred subsidies (140,038,370.88) 21,925,578.13 219,640,853.19 (3,424,268.20) 905,229.54 10,924,581.05 84,565,467.38 581,377.60 (1,157,586.50) (36,801,926.77) (599,491.63) 57,939,799.03 19,319,194.66 21,212,177.05 (395,282.53) (717,831.28) (3,708,305.09) 64,703,564.07 (16,750,665.70) (2,075,755.25)- (599,491.63) 30,152,288.88 17,204,184.98 7,768,934.98 94,834.73 932,423.49- 2,514,637.24 (161,085.53)--- 2,075,619.85 26,890,701.68 8,709,309.00 163,783.65 (757,447.46)- (1,705,319.75) 1,903.13---Cash received by operatingCash received from income taxCash paid for income tax 156,521,442.91 5,247,783.37 (14,843,721.69) 138,927,403.33- (17,441,679.98) 58,506,218.77 5,247,783.37 (3,603,156.28) 35,378,550.10- (3,405,600.53) Net cash provided by operating activities 146,925,504.59 121,485,723.35 60,150,845.86 31,972,949.57 Consolidated Financial Statements Separate Financial Statements INTERMADICAL CARE AND LAB HOSPITAL PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIESStatement of Financial Position FOR THE YEAR ENDED DECEMBER 31, 2025 2025 2024 2025 2024 ( Restated )146Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Notes to the Financial Statements form an integral part of these financial statements.STATEMENT OF CASH FLOWS (CONT.) Baht Cash flows from investing activities (Increase) decrease in restricted bank deposits Cash received from short-term loans to related company Cash paid for short-term loans to related company Cash paid in business acquisition Cash paid for purchase of investments Cash paid for purchase of property, plant and equipment Cash received from sale of assets Cash paid for purchase of other intangiable assets Cash received from deposits of right-of-uses assets Cash paid for deposits of right-of-uses assets Cash received from interest Cash received from dividend 974,845.97---- (21,588,196.21) 353,195.00 (3,216,750.00) 6,000.00 (289,500.00) 166,355.63- 760,940.91-- (34,530,444.44)- (31,031,407.33) 915,909.72 (5,603,833.45)- (6,000.00) 354,565.47- 3,206,800.00- (5,300,000.00)-- (2,698,378.09) 284,000.00 (813,000.00)-- 1,387,945.42- (687,225.00) 1,700,000.00 (6,159,630.00)- (98,359,000.00) (3,469,193.40) 270.00 (693,533.45)-- 2,154,067.45 98,409,377.88 Net cash used in investing activities (23,594,049.61) (69,140,269.12) (3,932,632.67) (7,104,866.52) Cash flows from financing activities Increase (decrease) in overdrafts and short-term loans from financial institutions Cash received from short-term loans from related person and companines Cash paid from short-term loans from related person and companies Cash received long-term loans from financial instiutions Cash paid for long-term loans from financial instiutions Cash paid for financial cost of long-term loans Cash paid for lease liabilities Cash paid for interest Cash received from capital increase Cash paid from dividend non-controlling interests (20,005,731.28) 17,000,000.00 (14,500,000.00)- (94,628,606.20)- (3,917,206.75) (45,940,222.79) 48,364,400.00- 31,068,485.81 38,000,000.00 (5,000,000.00) 105,000,000.00 (214,897,097.22) (525,000.00) (6,051,525.73) (54,603,209.86)- (22.12) (20,005,731.28) 86,300,000.00 (48,190,000.00)- (77,335,003.31)- (2,952,460.11) (44,738,993.26) 48,364,400.00- 31,068,485.81 210,300,000.00 (9,160,000.00)- (207,262,994.77)- (4,778,434.89) (47,341,412.97)-- Net cash used in financing activities (113,627,367.02) (107,008,369.12) (58,557,787.96) (27,174,356.82) Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of the year 9,704,087.96 18,937,013.27 (54,662,914.89) 73,599,928.16 (2,339,574.77) 10,530,257.04 (2,306,273.77) 12,836,530.81Cash and cash equivalents at end of the year 28,641,101.23 18,937,013.27 8,190,682.27 10,530,257.04 Additional disclosure items to cash flows statements Non-cash transaction : Increase in right-of-uses assets Unpaid asset purchases transactions 10,567,548.20 3,629,697.86 4,962,520.08 15,031,991.49 1,971,215.00 844,486.43 4,889,000.00 1,705,492.43Consolidated Financial Statements Separate Financial Statements INTERMADICAL CARE AND LAB HOSPITAL PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIESStatement of Financial Position (CONT.) FOR THE YEAR ENDED DECEMBER 31, 2025 2025 2024 2025 2024 ( Restated )147Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
INTERMADICAL CARE AND LAB HOSPITAL PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2025 1. GENERAL INFORMATION Intermadical Care and Lab Hospital Public Company Limited (“the Company”) was registered as ajuristic person under the Civil and Commercial Code on July 8, 1996 and registered as a public limited companyon June 21, 2018. The Company had sold the capital increase ordinary shares for the public offering and theCompany’s ordinary shares had started trading on the Market for Alternative Investment (MAI) on December 26,2019. The Company is principally engaged in specialty medical hospital, occupational medicine with theregistered address as follows: Head office : 442 Bang Waek Road Bang Waek Sub-district, Pha-si-cha-roen District, Bangkok Branch 1 : 444 Bang Waek Road Bang Waek Sub-district, Pha-si-cha-roen District, Bangkok Branch 2 : 126/11-13 moo.3 Nong talueeng, Phanthong, Chonburi Branch 3 : 9/61-62 moo.19 Khlong Nueng, Klong Luang, Pathumthani Branch 4 : 60/29-30 moo.3 Map Yang Phon, Pluak Daeng, Rayong Branch 5 : 96/11 moo.6 Khon Hua Lo, Mueang Chonburi , Chonburi2. BASIS FOR PREPARATION OF THE FINANCIAL STATEMENTS 2.1 Basis for preparation of the financial statements The financial statements have been prepared in accordance with the accounting standards prescribed byThai Accounts Act enunciated under the Accounting Profession Act B.E.2547 by complying with Thai FinancialReporting Standards. The presentation of the financial statements has been made in compliance with theNotification of the Department of Business Development, the Ministry of Commerce, re : the financial statementspresentation for public limited company, issued under the Accounting Act B.E.2543. The financial statements have been prepared on a historical cost basis except where otherwise disclosedin the accounting policies. The financial statements in Thai language are the official statutory financial statements of the Company.The financial statements in English language have been translated from such financial statements in Thailanguage.148Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
2.2 Basis for preparation of the consolidated financial statements a) The consolidated financial statements include the financial statements of Intermedical Care and Lab Hospital Public Company Limited and its subsidiaries are as follows:-b) The Company is deemed to have control over an investee or subsidiaries if it has rights, or is exposed,to variable returns from its involvement with the investee, and it has the ability to direct the activities thataffect the amount of its returns.c) Subsidiaries are fully consolidated, being the date on which the Company obtains control, and continueto be consolidated until the date when such control ceases.d) These consolidated financial statements are prepared by including the financial statements of itssubsidiaries under control by Intermadical Care And Lab Hospital Public Company Limited after eliminatinginter-company transactions between the Company and its subsidiaries. Investments in the subsidiaries andthe shareholders’ equity of the subsidiaries has been eliminated from the consolidated financial statements. e) Accounting policy for subsidiary company will utilize the same policy as the parent company.f) Non-controlling interests represent the portion of profit or loss and net assets of the subsidiaries thatare not held by the Company and are presented separately from the portion of owners of the parent.Financial reporting standards that effective in the current year The Company and its subsidiaries have adopted the revised financial reporting standards 2024, foraccounting periods beginning on or after January 1, 2025. The adoption of these financial reportingstandards do not have any significant impact on the financial statements in the current year.2.3Percentage of holding(% of share capital)Subsidiaries held directly1. Accusfas Lab Center Co., Ltd.2. IMH Bearing Hospital Co., Ltd.3. IMH Silom Hospital Co., Ltd.Subsidiaries held indirectly1. Suksawat Medical Co., Ltd.2. Mahaesak Hospital Co., Ltd.Hospital and clinicHospital and clinic(Pre-operating Stage)Hospital and clinicHospital and clinicHospital and clinicBangkokBangkokBangkokBangkokBangkok99.9979.9999.9799.9979.9799.9979.9999.9799.9979.97Name of Subsidiaries Percentage Percentage Percentage Percentage149Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Revised financial reporting standards that will be effective in the future The Federation of Accounting Professions has announced the adoption of the revised financial reporting standards 2025. This revised version is based on the International Accounting Standards, BoundVolume 2025 Consolidated without early application which will be effective for the financialstatements for accounting periods beginning on or after January 1, 2026. The management of the Company and its subsidiaries believe that this revised will not have material impact on the financial statements in the year in which these standards are initially applied.Restatement of prior year During the year 2025, the subsidiaries corrected the accounting errors from the previous year regarding to does not recognize of medical service revenue in accordance with the criteria, method, andconditions announced by the National Health Security Office and does not recognize leases agreementson the date becomes effiective in accordance with the accounting policy. The subsidiaries had correctedsuch accounting errors by retrospectively restated the financial statements. The effects on theconsolidated statement of financial position as at January 1, 2024 and December 31, 2024 and theconsolidated statement of comprehensive income for the year ended December 31, 2024 are as follows:2.52.4BahtStatement of financial positionAs at January 1, 2024 Contract assets Right-of-use assets Other non-current assets Corporate income tax Lease liabilities Retained earnings - unappropriated354,751,136.14156,135,031.7463,860,678.2212,838,704.21169,625,508.31438,291,811.24(31,334,716.42)259,094,088.90(29,925,919.11)(6,192,862.40)248,250,880.82(42,125,987.42)323,416,419.72415,229,120.6433,934,759.116,645,841.81417,876,389.13396,165,823.82As at December 31, 2024 Contract assets Right-of-use assets Other non-current assets Corporate income tax Lease liabilities Retained earnings - unappropriated311,223,117.17146,243,085.8364,076,267.844,997,949.16166,093,574.97369,640,997.85(46,351,886.11)250,185,409.63(21,139,690.77)(410,068.00)260,143,162.24(67,450,673.93)264,871,231.06396,428,495.4642,936,577.074,587,881.16426,236,737.21302,190,323.92Consolidated financial statementsAs previouslyreportedAdjustmentIncrease(decrease)As restated150Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Revenue recognition Revenues from hospital operations, mainly consisting of medical fees, hospital room charge, andmedicine charge, are recognized as income when services have been rendered or medicine delivered andare measured at the amount of the consideration received or receivable after deducting discounts. Revenues from hospital operation derived from the Social Security Office and the National HealthSecurity Office, are recognized as income based on several expected service fee rates. And took intoaccount criteria, procedures, and conditions set forth by the Office, including statistics on medicalservices and actual payments for medical services received from the Office.3.1Expenses recognition Expense are recognized on an accrual basis3.2Service income will be recorded as income by considering the stage of work completion.Dividends are recognised when the right to receive the dividends is established.Interest income is recognized on an accrual basis based on the effective interest rate.Other income is recognized on an accrual basis based.BahtStatement of comprehensive incomeFor the year ended December 31, 2024Revenue from hospital operationsAdministrative expensesFinance costs(Income) tax expensesProfit (loss) for the year Shareholders of the parent Non-controlling interestsComprehensive income (loss) for the year Shareholders of the parent Non-controlling interestsBasic loss per share623,333,032.92128,504,224.9154,684,185.212,014,133.97(74,456,216.75)(3,427,735.01)(68,650,813.39)(3,427,735.01)(0.35)(15,017,169.69)8,908,679.2711,892,281.42(7,163,626.08)(25,324,686.51)(3,329,817.79)(26,324,686.51)(3,329,817.79)(0.12)608,315,863.23137,412,904.1866,576,466.63(5,149,492.11)(99,780,903.26)(6,757,552.80)(94,975,499.90)(6,757,552.80)(0.47)Consolidated financial statementsAs previouslyreportedAdjustmentIncrease(decrease)As restated 3. MATERIAL ACCOUNTING POLICY INFORMATION151Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Cash and cash equivalents Cash and cash equivalents consist of cash in hand and at banks, and all highly liquid investmentswith an original maturity of 3 months or less and not subject to withdrawal restrictions.3.3Trade receivables and allowance for expected credit loss Trade receivables are recognized initially at the amount of consideration that is unconditional unlessthey contain significant financing components, when they are recognized at its present value. The allowance for expected credit losses is disclosed in Note 3.18.3.4Contract assets Contract assets means the right that the Company will receive compensation in exchange for servicesthe Company has already transferred to the customer. Such right will arise according to certainconditions that are not a matter of time elapsed.3.5Inventories Inventories are stated at the lower of cost or net realizable value. Cost is calculated on First-outMethod. The net realizable value of inventory is estimated from the selling price in the ordinary course ofbusiness less the estimated costs to complete the sale. An allowance for decline in value of inventories is provided for all deteriorated, damaged, obsoleteand slow-moving inventories.3.6Investments in subsidiaries Investments in subsidiaries are accounted for in the separate financial statements using the costmethod net from allowance on impairment (if any).3.7Property, plant and equipment and depreciation Land is stated at cost. Building and equipment are stated at cost less accumulated depreciation and allowance for loss on impairment of assets (if any). Cost is initially recognized upon acquisition of assets along with other direct costs attributing toacquiring such assets in the condition ready to serve the objectives, including the costs of assetdemolition, removal and restoration of the asset location, which are the obligations of the company. Expenditure related to improvement, life renewal or improvement of assets which will cause thepresent replacement prices of the assets materially increased will be combined as cost prices of assets.Given repairing fee and maintenance is recognized as expense in the accounting period that occurred.3.8152Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
The depreciation of building and equipment are calculated from cost by the straight line methodaccording to the estimated useful lives as follows: The Company and its subsidiaries do not depreciate for land, construction in progress. The Company and its subsidiaries have reviewed the residual value and useful lives of the assetsevery year. The depreciation for each asset component is calculated on the separate components when eachcomponent has significant cost compared to the total cost of that asset. Depreciation is included in determining income. Gain or loss from disposal of land, plant and equipment is computed from discrepancy between netcash received and book value and recognized as other revenue or other expenses in the statement ofcomprehensive income.Land improvementBuildings and asset under improvementsMedical and laboratory equipment Tools and office equipmentOffice furnishingsVehicles105 and 205 and 10555 and 10Estimated useful lives (years)Borrowing costs Borrowing costs directly attributed to the acquisition or construction of an asset that necessarilytakes long time to put in ready to use or available for sale state are capitalized as part of the cost of therespective asset until that asset condition is ready for its intended use. All other borrowing costs areexpensed in the period they are incurred. Borrowing costs consist of interest and other costs arising fromsuch borrowing.3.9Goodwill The Company and its subsidiaries use the acquisition method to account for business combinationsand measure the cost of the acquisition being the fair value at the acquisition date of considerationtransferred, and the amount of any non-controlling interest in the acquiree For each businesscombination, the Company and its subsidiaries measures the non-controlling interest, if any, in theacquiree either at fair value or at the proportionate share of the acquiree’s identifiable net assets.3.10153Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
The Company and its subsidiaries account for acquisition-related costs as expenses in the periods inwhich the costs are incurred and the services are received. Goodwill is the excess of the cost of the business combination over the Company’s interest in the fairvalue of the identifiable net assets of the subsidiary. If the Company’s interest in the fair value of theidentifiable net assets of the subsidiary exceeds the cost of the business combination, the excess isimmediately recognized as gain in profit or loss. Goodwill is initially measured at cost at the acquisition date and after that it will be measured at costless accumulated impairment losses.Impairment losses on goodwill are not reversed.Other intangible assets and amortization Other intangible assets are stated at cost less accumulatedamortization and allowance for impairmentof assets (if any). Other intangible assets acquired through business combination are initially recognized at their fair valueon the date of business acquisition while other intangible assets acquired in other cases are recognized atcost. Other intangible assets with finite lives are amortized based on the straight - line method over theeconomic useful live and tested for impairment whenever there is an indication that the intangible assetsmay be impaired. The amotization period and the amortization method of such intangible assets arereviewed at least at each financial year end. The amortization expense is charge to the statement of profitor loss. A summary of other intangible assets with finite useful lives is as follows:3.11Leases At inception of a contract, the Company and its subsidiaries assess whether the contract is, orcontains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of anidentified asset for a period of time in exchange for consideration. The Company and its subsidiaries assess the lease term for the non-cancellable period as stipulated inlease contract or the remaining period of active leases together with any period covered by an option toextend the lease if it is reasonably certain to be exercised or any periods covered by an option to terminatethe lease if it is reasonably certain not to be exercise by considering the effect of changes in technologyand/or the other circumstance relating to the extension of the lease term.3.12 No amortization is provided on computer software in progress.Computer softwareCustomer relationship521Useful lives (years)154Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Lease liabilitiesShort-term leases and leases of low-value assetsRight-of-use assets-as a lessee At the commencement date of the lease, lease liabilities are stated at the present value of leasepayments to be made over the lease term. The lease payments include fixed payments (including insubstance fixed payments) less any lease incentives receivable (if any) and amount expected to be paidunder residual value guarantees. The lease payments also include the exercise price of a purchaseoption reasonably certain to be exercised by the Company and its subsidiaries and payments ofpenalties for terminating the lease, if the lease term reflects the Company and its subsidiaries exercisingthe option to terminate. In calculating the present value of lease payments, the Company and its subsidiaries use itsincremental borrowing rate, which is determined by referring to the government bond yield adjusted withrisk premium depending on the lease term, at the lease commencement date if the interest rate implicitin the lease is not readily determinable. After the commencement date, the amount of lease liabilities isincreased to reflect the accretion of the interest and reduced for the lease payments made. In addition,the carrying amount of lease liabilities is remeasured if there is a modification, a change in the leaseterm, a change in the lease payments or a change in the assessment of an option to purchase theunderlying asset.The Company and its subsidiaries apply the short-term lease recognition exemption to its short-termleases (those leases that have a lease term of 12 months or less from the commencement date and notcontain a purchase option). It also applies the lease of low-value assets recognition exemption to leasesthat are considered of low value. Lease payments on short-term and leases of low-value assets arerecognized as expense in profit and loss on a straight-line basis over the lease term. Right-of-use assets are recognized at the commencement date of the lease. Right-of-use assetsare stated at cost, less any accumulated depreciation and impairment losses (if any), and adjusted forany remeasurement of lease liabilities (if any). The cost of right-of-use assets includes the amount oflease liabilities recognized, initial direct costs incurred, and lease payments made at or before thecommencement date, less any lease incentives received. The cost of right-of-use assets also includes an estimate of costs to be incurred by the lessee indismantling and removing the underlying asset, restoring the site on which it is located or restoring theunderlying asset to the condition required by the terms and conditions of the lease. Right-of-use assets are calculated by reference to their costs on a straight-line basis over theshorter of the lease term and the estimated useful lives for each of right-of-use assets.155Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Government grants Grants from the government are recognized at their fair value where there is a reasonableassurance that the grant will be received and the company will comply with all attached conditions. Government grants relating to the compensation of costs are deferred and recognized in theincome statement over the period necessary to match them with the costs they are intended tocompensate.3.13Provisions Provisions are recognized when the Company and its subsidiaries have a present legal orconstructive obligation as a result of past events, it is probable that an outflow of resources will berequired to settle the obligation, and a reliable estimate of the amount can be made. Where the Companyand its subsidiaries expect a provision to be reimbursed, the reimbursement is recognized as a separateasset but only when the reimbursement is virtually certain.3.14Employee benefitsShort-term employment benefits The Company and its subsidiaries recognize salary, wage, bonus and contributions to socialsecurity fund as expenses when incurred.3.15Post-employment benefits (Defined contribution plans) The Company and its subsidiaries have jointly established a provident fund. The fund is monthlycontributed by employees and by the Company. The fund’s assets are held in a separate trust fund andthe Company’s contributions are recognized as expenses when incurred.Post-employment benefits (Defined benefit plans) The Company and its subsidiaries have obligation in respect of the severance payments that itmust pay to the employees upon retirement under the labor law. The Company and subsidiaries treatthese severance payment obligations as a defined benefit plan. The obligation under the defined benefit plan is calculated based on the actuarial principles bya qualified independent actuary using the projected unit credit method. Such estimates are made basedon various assumptions, including discount rate, future salary increase rate, staff turnover rate, mortalityrate, and inflation rate. Gains and losses on re-measurement of defined benefits plans of the employees are recognizedimmediately in other comprehensive income.156Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Related parties Enterprises and individuals that directly, or indirectly through one or more intermediaries, control,or are controlled by, or are under common control with, the company, including holding companies,subsidiaries and fellow subsidiaries are related parties of the company. Associates and individualsowning, directly or indirectly, an interest in the voting power of the company that gives them significantinfluence over the enterprise, key management personnel, including directors and officers of the companyand close members of the family of these individuals and companies associated with these individualsalso constitute related parties. In considering each possible related party relationship, attention is directed to the substance ofthe relationship, and not merely the legal form.3.16Income tax Income tax comprises current income tax and deferred tax.3.17Deferred tax Deferred tax assets and liabilities are provided on the temporary differences between the carryingamount and the tax bases of assets and liabilities at the end of the reporting period. Changes in deferredtax assets and liabilities are recognized as deferred tax income or deferred tax expenses which arerecognized in the profit or loss except to the extent that it relates to items recognized directly inshareholders’ equity or in other comprehensive income. The deductible temporary differences are recognized as deferred tax assets when it is probablethat the Company and its subsidiaries will have future taxable profit to be available against which thedeferred tax assets can be utilized. The taxable temporary differences on all taxable items are recognizedas deferred tax liabilities. Deferred tax assets and liabilities are measured at the tax rates that the Company and itssubsidiaries expect to apply to the period when the deferred tax assets are realized or the deferred taxliabilities are settled, based on tax rates and tax laws that have been enacted or substantively enactedby the end of the reporting period. At the end of each reporting period, the carrying amount of deferred tax assets are reviewed andreduced the value when it is probable that the Company will have no longer the future taxable profit thatis sufficient to be available against which all or some parts of deferred tax assets are utilized. Deferred tax assets and deferred tax liabilities are offset when there is the legal right to settle ona net basis and they relate to income taxes levied by the same tax authority on the same taxable entity.Current tax The Company and its subsidiaries record income tax expense, if any, based on the amountcurrently payable under the Revenue Code at the income tax rates 20% of profit before income tax, afteradding back certain expenses which are non - deductible for income tax computation purposes, and lesscertain transactions which are exemption or allowable from income tax.157Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Financial instrumentsClassification and measurement of financial assets Financial assets are classified, at initial recognition, as to be subsequently measured at amortizedcost, fair value through other comprehensive income, or fair value through profit or loss. The classificationof financial assets at initial recognition is driven by the Company and its subsidiaries business model formanaging the financial assets and the contractual cash flows characteristics of the financial assets.3.18Classification and valuation of financial liabilities The Company and its subsidiaries are recognized initially of financial liabilities at fair value net oftransaction costs and classified as financial liabilities as financial liabilities subsequently measured atamortized cost using the effective rate. The amortized cost is calculated taking into account fees or coststhat are an integral part of the effective rate. Amortization by the effective rate is presented as part offinancial costs in profit or loss.Derecognition of financial instruments Financial assets will be derecognized from the account when the right to receive cash flow of suchasset has ended or when the right to receive cash flow of the assets is transferred including upon thetransfer of all risk and consideration of that asset or transfer of internal control in that asset althoughthere is no transfer or maintaining of nearly all risk and consideration of such asset. Financial liabilities will be derecognized from the account when the obligation of such liabilities hasbeen complied, the obligation is cancelled or the obligation has ended. In case existing financial liabilitiesare changed to new liabilities from one single lender with considerably different requirements or there is asignificant amendment in the requirements of existing liabilities, these are considered as recognition oldliabilities and recognizing new liabilities by recognizing the difference of such carrying value under profitor loss. Impairment of financial assets Expected credit loss for financial assets measured at amortized cost or debt instrument financialasset measured at fair value through other comprehensive income and assets arising from credit facilityobligation and financial guarantee agreement are assessed without having to wait for the credit event tooccur first. The Company and its subsidiaries use the general approach in considering the allowance forloss on impairment. For trade receivables, the Company and its subsidiaries apply a simplified approachin calculating ECLs. The Company and its subsidiaries recognize a loss based on lifetime ECLs at eachreporting date. It is based on its historical credit loss experience and adjusted for forward-looking factorsspecific to the debtors and the economic environment.158Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Fair value of financial instruments The Company and its subsidiaries use the market approach to measure their assets and liabilitiesthat are required to be measured at fair value by relevant financial reporting standards, except that thecost approach or income approach is used when there is no active market or when a quoted market priceis not available.Fair value hierarchyLevel 1 - Use of quoted prices (unadjusted) in active markets for identical assets or liabilities.Level 2 - Use of inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (e.g. prices) or indirectly (e.g. derived from prices).Level 3 - Use of unobservable inputs such as estimates of future cash flows.3.19Significant accounting judgements and estimates The preparation of financial statements in conformity with the financial reporting standards attimes requires management to make subjective judgements and estimates regarding matters that areinherently uncertain. These judgements and estimates affect reported amounts and disclosures; andactual results could differ from these estimates. Significant judgements and estimates are as follows:3.20Offset of financial instruments Financial assets and liabilities will be offset and presented at net balance in the statement offinancial position in the case legally enforced in offsetting the recognized amount. The Company and itssubsidiaries intend to pay the net balance or intends to receive assets and settle payment of liabilities atthe same time.Allowance for expected credit losses of receivables In determining an allowance for expected credit losses of trade receivables, the managementneeds to make judgement and estimates based upon, among other things, past collection history, agingprofile of outstanding debts and the prevailing economic condition.Allowance for declining in value of inventory The determination of allowance for declining in the value of inventory, requires management tomake judgements and estimates of the loss expected to occur. The allowance for decline in net realizablevalue is estimated based on the selling price expected in the ordinary course of business less sellingexpense. The provision for obsolete slow-moving and deteriorated inventory, is estimated based on theapproximate useful life of each type of inventory. The allowance for diminution in value of inventory asdetermined is compared with the original balance in the books of account and the increase or decreasein the allowance for diminution in value of inventory will be recognized as cost of sales in profit or loss. 159Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Determining the lease term of contracts with renewal and termination options The Company and its subsidiaries determine the lease term as the non-cancellable term of thelease, together with any period covered by an option to extend the lease if it is reasonably certain to beexercised, or any periods covered by an option to terminate the lease, if it is reasonably certain not to beexercised. The management is required to use judgment in evaluating whether it is reasonably certainwhether or not to exercise the option to renew or terminate the lease, considering all relevant factors thatcreate an economic incentive to exercise either the renewal or termination. After the commencementdate, the Company and its subsidiaries reassess the lease term if there is a significant event or change incircumstances that is within its control and affects its ability to exercise or not to exercise the option torenew or to terminate.Determination of the incremental rate The Company and its subsidiaries are unable to determine the interest rate implicit in the lease.Therefore, management is required to exercise judgement in determining the Company and itssubsidiaries’ incremental rate in determining the lease liability. The incremental rate is the interest rate ofthe Company and its subsidiaries’ loans to acquire assets of close value to the right-of-use assets in asimilar economic circumstance. The term and collateral are similar.Depreciation of plant and equipment and right-of-use assets and amortization of other intangible assets In determining depreciation of plant and equipment and right-of-use assets and amortization ofintangible assets, the management is required to make estimates of the useful lives and residual valuesof the plant and equipment and to review estimate useful lives and residual values when there are anychanges. In addition, the management is required to review property, plant and equipment and right-of-useassets and intangible assets for impairment on a periodical basis and record impairment losses when it isdetermined that their recoverable amount is lower than the carrying amount. This requires judgementsregarding forecast of future revenues and expenses relating to the assets subject to the review.Goodwill The initial recognition and measurement of goodwill, and subsequent impairment testing, requiremanagement to make estimates of cash flows to be generated by the asset or the cash generating unitand to choose a suitable discount rate in order to calculate the present value of those cash flows.160Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Deferred tax assets Deferred tax assets are recognized for deductible temporary differences and unused tax losses to the extent that it is probable that taxable profit will be available against which the temporarydifferences and losses can be utilized. Significant management judgement is required to determine theamount of deferred tax assets that can be recognized, based upon the likely timing and level of estimatefuture taxable profits.Post-employment benefits under defined benefit plans The obligation under the defined benefit plan is determined based on actuarial techniques. Such determination is made based on various assumptions, including discount rate, future salary increase rate, mortality rate and staff turnover rate. The Company and its subsidiaries have certain transactions with its related parties. Thesecompanies are related through common shareholdings and/or directorships. The effects of thesetransactions are reflected in the accompanying financial statements on the basis mutual determined bythe Company and related parties. Relationships with related parties that control the Company or are being controlled by theCompany or have transactions with the Company/Group are as follows:4. RELATED PARTIES TRANSACTIONSRelated parties Nature of relationships1. Subsidiaries held directly 1.1 Accusfas Lab Center Co., Ltd. 1.2 IMH Bearing Hospital Co., Ltd. 1.3 IMH Silom Hospital Co., Ltd.2. Subsidiaries held indirectly 2.1 Suksawat Medical Co., Ltd. 2.2 Mahaesak Hospital Co., Ltd.3. Related company 3.1 University of the Thai Chamber of Commerce 3.2 Singha Estate Public Company Limited 3.3 Muang Thai Insurance Public Company Limited 3.4 Capital Plus Advisory Company Limited 3.5 Siam City Leasing and Factoring Public Company Limited 3.6 KPN Green Energy Solution Public Company Limited 3.7 MFC Asset Management Public Company Limited 3.8 Excellent Consulting Group Company Limited 3.9 The Best Advisor Company Limited99.99% shareholding79.99% shareholding99.97% shareholding99.99% shareholding79.97% shareholdingCommon DirectorsCommon DirectorsCommon DirectorsCommon DirectorsCommon DirectorsCommon DirectorsCommon DirectorsCommon DirectorsCommon Directors161Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
The Company had significant business transactions with subsidiary companies, related companiesand related persons. Such transactions, which have been concluded on commercial terms and basesagreed upon between the Company, subsidiary companies, related companies and related persons andare in ordinary course of business are summarized below:Related parties Nature of relationships4. Related person 4.1 Assoc. Prof. Dr.Thanavath Phonvichai 4.2 Mr. Sittiwat Kamkatwong 4.3 Miss Poramaporn Pavarojkit 4.4 Mr. Thibdee MangkaliChairman of the BoardDirectorDirectorDirector4.1 Inter-revenues and expenses4.2 Inter outstandingBaht Baht Inter-transaction with subsidiaries companies(Eliminated from consolidate financial statements)Service incomeInterest incomeOther incomeCost of serviceInterest expenseOther expenses------------8,701,668.812,373,378.671,679,078.003,914,532.7913,501,68.682,500.001,712,627.111,997,796.47187,915.00-7,113,838.59-Mutually agreed priceContract priceMutually agreed priceMutually agreed priceContract priceMutually agreed priceInter-transaction with related person and companiesService incomeInterest expense160,960.00732,009.89143,680.00426,908.75160,960.00254,282.72143,680.0072,591.78Mutually agreed priceContract price2025 2025 Consolidated financial statements Consolidated financial statements Separate financial statements Separate financial statements 2024 2024 2025 2025 2024 2024 Pricing Policy Trade and other current receivables (Note 6)Subsidiaries- - 2,346,256.31 2,193,015.39 - - 2,346,256.31 2,193,015.39 Trade and other current payables (Note 17)Subsidiaries- - 201,718.10 -- - 201,718.10 -162Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Baht Baht Baht Baht As at December31, 2024As at December31, 2023As at December31, 2024As at December31, 2023Increase Increase Increase Increase Settlement Settlement Settlement Settlement As at December31, 2025As at December31, 2024As at December31, 2025As at December31, 2024Interest rate(% per annum)Interest rate(% per annum)Interest rate(% per annum)Interest rate(% per annum)Consolidated financial statements Financial Statements Financial Statements Separate financial statements Transaction during the year Transaction during the year Transaction during the year Transaction during the year IMH Bearing Hospital Co., Ltd. 5.00 - 5.60 44,459,630.00 5,300,000.00 - 49,759,630.00 Total 44,459,630.00 5,300,000.00 - 49,759,630.00 IMH Bearing Hospital Co., Ltd. 5.00 - 5.60 40,000,000.00 6,159,630.00 (1,700,000.00) 44,459,630.00 Total 40,000,000.00 6,159,630.00 (1,700,000.00) 44,459,630.00 Director 1.60 - 2.28 43,000,000.00 17,000,000.00 (14,500,000.00) 45,500,000.00 Total 43,000,000.00 17,000,000.00 (14,500,000.00) 45,500,000.00 Director 1.60 - 2.28 10,000,000.00 38,000,000.00 (5,000,000.00) 43,000,000.00 Total 10,000,000.00 38,000,000.00 (5,000,000.00) 43,000,000.00Short-term loans to subsidiary For the years ended December 31, 2025 and 2024, the movement of short-term loans to subsidiarywere as follows:Short-term loans from related person and companies For the years ended December 31, 2025 and 2024, the movement of short-term loans from relatedperson and companies were as follows:Such loan was in promissory notes due at call and without collateral.163Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Such loan was in promissory notes due at call and without collateral. Bank deposits - current accounts with credit balance, the Subsidiaries have made an agreement toallow the bank to automatically transfer funds from savings account to such current account, in case ofan overdrafs.Consisted of:Baht Baht As at December31, 2024As at December31, 2023Increase Increase Settlement Settlement As at December31, 2025As at December31, 2024Interest rate(% per annum)Interest rate(% per annum)Separate financial statements Separate financial statements Transaction during the year Transaction during the year DirectorAccusfas Lab Center Co., Ltd.IMH Silom Hospital Co., Ltd.1.60 - 2.285.35 - 5.605.40 - 5.6013,000,000.00222,940,000.005,200,000.0017,000,000.0028,600,000.0040,700,000.00(13,000,000.00)(22,440,000.00)(12,750,000.00)17,000,000.00229,100,000.0033,150,000.00 Total 241,140,000.00 86,300,000.00 (48,190,000.00) 279,250,000.00 DirectorAccusfas Lab Center Co., Ltd.IMH Silom Hospital Co., Ltd.1.60 - 2.285.35 - 5.605.40 - 5.60-40,000,000.00-13,000,000.00186,000,000.0011,300,000.00-(3,060,000.00)(6,100,000.00)13,000,000.00222,940,000.005,200,000.00 Total 40,000,000.00 210,300,000.00 (9,160,000.00) 241,140,000.004.3 Management remuneration for the years ended December 31, 2025 and 2024, were as follows:Baht Baht 2025 2025 Consolidated financial statements Consolidated financial statements Separate financial statements Separate financial statements 2024 2024 2025 2025 2024 2024 Short-term employee benefitsPost-employment benefits18,389,430.00762,733.0023,062,680.00983,695.0011,676,000.00762,733.0011,676,000.00983,695.00 Total 19,152,163.00 24,046,375.00 12,438,733.00 12,659,695.00 Cash on handCheque on handBank deposits - current accountsBank deposits - saving accounts932,130.00518,452.14483,324.4926,707,194.602,206,237.00798,213.321,393,714.8814,538,848.07294,690.00518,452.1481,475.657,296,064.48444,379.00758,864.3081,390.659,245,623.09 Total 28,641,101.23 18,937,013.27 8,190,682.27 10,530,257.04 5. CASH AND CASH EQUIVALENTS164Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Baht 2025 Consolidated financial statements Separate financial statements 2024 2025 2024 Trade receivables - related partiesTrade receivables can be classified by age analysis as followsNot yet duePast due Less than 3 months 3 - 6 months 6 - 12 months Over 12 months----------718,097.7938,747.36--266,995.58180,468.42339,816.52--266,995.58Total trade receivables - related parties - - 1,023,840.73 787,280.52 Trade receivables - unrelated partiesCheque receivedTrade receivables can be classified by age analysis as followsNot yet duePast due Less than 3 months 3 - 6 months 6 - 12 months Over 12 months-30,223,870.769,502,860.291,463,047.602,189,500.205,975,896.61120,706.8036,500,733.3420,258,435.113,622,736.204,218,381.195,987,334.42-18,437,689.916,236,535.94443,190.001,064,381.001,613,862.67120,706.8026,899,520.7910,509,076.111,654,960.003,113,721.001,431,463.67TotalLess Allowance for expected credit losses49,355,175.46(5,112,375.00)70,708,327.06(4,388,287.03)27,795,659.52(2,156,723.81)43,729,448.37(1,750,900.91)Total trade receivables - unrelated parties 44,242,800.46 66,320,040.03 25,638,935.71 41,978,547.46 Total trade receivables - net 44,242,800.46 66,320,040.03 26,662,776.44 42,765,827.98 Other current receivable - related partiesAccued interestOther receivables----1,122,386.85200,028.738,876.711,396,858.16Total other current receivables - related parties - - 1,322,415.58 1,405,734.87 Other current receivables - unrelated partiesPrepaid insurancePrepaid expensesEmployee loan receivablesOther330,578.31415,916.89269,200.00367,998.79392,279.59543,533.56507,000.00513,307.37262,531.9563,183.75269,200.0025,196.00303,860.25136,118.36489,000.001,260.00Total other current receivables - unrelated parties 1,383,693.99 1,956,120.52 620,111.70 930,238.61 Total other receivables 1,383,693.99 1,956,120.52 1,942,527.28 2,335,973.48 Total trade and other current receivables - net 45,626,494.45 68,276,160.55 28,605,303.72 45,101,801.46 6. TRADE AND OTHER CURRENT RECEIVABLES165 For the years ended December 31, 2025 and 2024, the movement of allowance for expected creditlosses were as follows :Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
BahtBaht Baht 20252025 2025 Consolidated financial statements Consolidated financial statements Consolidated financial statements Separate financial statements Separate financial statements Separate financial statements 20242024(Restated)2024 2024 20252025 2025 2024 2024 2024 Beginning balance(Increase) decrease during the yearWrite off for the year(4,388,287.03)(1,285,511.97)561,424.00(4,057,773.75)(949,533.28)619,020.00(1,750,900.91)(405,822.90)-(1,249,949.59)(1,119,971.32)619,020.00Ending balance (5,112,375.00) (4,388,287.03) (2,156,723.81) (1,750,900.91) Hospital Past due less than 12 months Past due over 12 months but less than 24 monthsOccupational Medicine Hospital Past due less than 12 months91,645,668.0416,151,290.8611,998,625.0275,918,218.78243,750,658.3319,767,560.00--11,998,625.02--19,767,560.00 TotalLess Allowance for expected credit losses119,795,583.92(582,202.54)339,436,437.11(74,565,206.05)11,998,625.02(126,871.78)19,767,560.00(108,036.20) Contract assets - net 119,213,381.38 264,871,231.06 11,871,753.24 19,659,523.80 Beginning balance(Add) less during the yearWrite off for the year(74,565,206.05)(2,357,427.23)76,340,430.74(37,232,194.44)(37,333,011.61)-(108,036.20)(18,835.58)-(135,698.20)27,662.00-Ending balance (582,202.54) (74,565,206.05) (126,871.78) (108,036.20) For the years ended December 31, 2025 and 2024, the movement of allowance for expected creditlosses were as follows :7. CONTRACT ASSETSConsisted of:166Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Hospital The current contract assets as the accrued medical treatment income. The management of thesubsidiary makes an estimation of accrued income based on the amount of the latest actual collectiontogether with the current circumstances which have the reimbursements in accordance with terms andconditions stipulated by Social Security Office and National Health Security Office Hospital. The paymentfor the accrued medical treatment income is subject to the medical treatment payment policy of therelevant office.Accrued medical service income, as follows:Baht 2025 2024(Restated)Social Security OfficeAccrued income from medical service for patients with risk caseAccrued income from medical services for patients withhigh-cost diseasesAccrued income from medical services for patients withcoronavirus disease 2019Other accrued medical service income5,466,235.9413,804,984.00-8,757,712.0424,313,433.7122,411,344.2645,047,102.2038,722,682.5528,028,931.98 130,494,562.72 National Health Security OfficeAccrued medical service incomeAccrued income from medical services for patients withcoronavirus disease 201979,768,026.92-137,338,079.3551,836,235.0479,768,026.92 189,174,314.39 Total 107,796,958.90 319,668,877.11 8. INVENTORIESConsisted of:Baht 2025 Consolidated financial statements Separate financial statements 2024 2025 2024 2024 Medical suppliesMedicine and Medical supplies12,656,227.3512,101,125.303,793,720.2417,539,364.212,065,271.19252,801.272,046,245.20366,661.99 TotalLess Allowance for decline in value of inventories24,757,352.65(1,794,519.68)21,333,084.45(1,755,822.45)2,318,072.46-2,412,907.19-Inventories - net 22,962,832.97 19,577,262.00 2,318,072.46 2,412,907.19167Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
9. OTHER CURRENT ASSETS 10. INVESTMENTS IN SUBSIDIARIESConsisted of:Investments in subsidiaries as represented in separate financial statements, as follows: Dividend from subsidiaries company for the years ended December 31, 2025 and 2024were as follows:The subsidiaries that have material non-controlling interests The Company has consolidated two subsidiaries that have material non-controllinginterest as follows:Baht 2025 2025 2025 2025 Consolidated financial statements Paid up share capital(Thousand Baht)Cost method(Thousand Baht)Separate financial statements Thousand Baht Thousand BahtAccumulated non-controllinginterestscomprehensive income (loss)allocated to non-controlling interestsProportion of ownershipinterests and voting rights held by nonName of subsidiariescontrolling interests (%)Percentage of shareholding (%) Name of subsidiaries Separate financial statements 2024 2024 2024 2024 2025 2024 DepositsOffice supplies2,293,945.001,581,705.643,114,395.001,666,485.182,293,945.00455,281.993,114,395.00567,255.48 Total 3,875,650.64 4,780,880.18 2,749,226.99 3,681,650.48 1. Accusfas Lab Center Co., Ltd.2. IMH Bearing Hospital Co., Ltd.3. IMH Silom Hospital Co., Ltd.221,4001,000855,145221,4001,000855,14599.9979.9999.9999.9979.9999.99221,400800855,145221,400800855,145 Total 1,077,345 1,077,345 Type of Business Relationship 2025 2024 2024(Restated)2024(Restated)2025 2024 2025 2025 Name of subsidiaries Accusfas Lab Center Co., Ltd.IMH Bearing Hospital Co., Ltd.IMH Silom Hospital Co., Ltd.HospitalHospitalHospitalShareholders/co-directorsShareholders/co-directorsShareholders/co-directors---57,400-41,009 Total - 98,409 IMH Silom Hospital Co., Ltd.IMH Bearing Hospital Co., Ltd.0.0120.010.0120.01(2,012.95)(3,847.30)(2,795.20)(3,962.35)84,252.21(12,386.90)86,265.17(8,539.61)(5,860.25) (6,757.55) 71,865.31 77,725.56168Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Baht 2025 IMH Silom Hospital Co., Ltd IMH Bearing Hospital Co., Ltd. 2024(Restated)2025 2024(Restated)Current assetsNon-current assetsCurrent liabilitiesNon-current liabilitiesNon-Controlling interests161,807.521,462,863.20218,719.53103,882.3184,252.22158,867.911,469,479.18189,121.19141,632.4486,265.17241.58296,471.66192,878.82165,737.98(12,386.90)435.67295,857.31127,771.29211,198.38(8539.61)Revenueloss attributable to the non-controlling interestsDividends paid to non-controlling interests388,261.15(2,012.95)-329,778.07(2,795.20)0.020.44(3,847.29)-1.98(3,962.35)-Net cash flows provided by (used in) from operating activitiesNet cash flows (used in) from investing activitiesNet cash flows provided by (used in) from financing activities83,405.08(48,885.21)(28,214.34)(6,720.99)(17,842.58)18,352.48627.46(5,668.37)4,846.829,052.99(22,184.96)13,237.68Net cash flows increase (decrease) 6,305.53 6,211.09 (194.09) 105.71 Summarized financial information in respect of the subsidiaries represents amounts beforeintragroup eliminations, as follows :Investment in Accusfas Lab Center Co., Ltd. According to the minutes of the Extraordinary Shareholders’ Meeting No. 1/2024 held on August 29,2024, it was resolved to increase the registered capital of the subsidiary from Baht 164.00 million to Baht221.40 million, with the increased capital of Baht 57.40 million by issuing 5.74 million ordinary shares witha value of Baht 10.00 per share. On August 30, 2024, the Company had fully paid the share payment andthe subsidiary had been registered with the Ministry of Commerce.Investment in IMH Silom Hospital Co., Ltd. According to the minutes of the Board of Directors’ No. 2/2024 held on August 14, 2024, it wasresolved to call for additional share payment as the subsidiary currently has a registered capital of Baht1,000.00 million divided into 10.00 million shares at par value of Baht 100.00 per share. The subsidiarycurrently has a paid-up capital of Baht 814.19 million divided into 0.01 million fully paid-up shares and9.99 million shares paid-up at Baht 81.40 per share. As the subsidiary was necessary to utilize additionalcapital for its business operations, therefore, it was deemed to call for additional share payment of Baht4.10 per share from the Company which was the shareholder of the subsidiary for 9.99 million non-fullypaid-up shares amounted Baht 40.96 million, totaled paid-up share value of Baht 85.50 per share.Subsequent the additional share payment, the subsidiary would have a paid-up registered capital of Baht855.15 million. On August 22, 2024, the Company had fully paid the share payment and the subsidiary hadbeen registered with the Ministry of Commerce.169Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Baht Baht Consolidated financial statements Consolidated financial statements 2025 2025 Balance as atDecember31, 2024Balance as atDecember31, 2024Balance as atDecember31, 2025Balance as atDecember31, 2025Increase Increase Decrease Decrease Transactions during the year Transactions during the year Transfer in(Transfer out)Transfer in(Transfer out)CostLand and land improvementBuilding and building improvementsMedical and laboratory equipmentOffice toolsOffice furnishingsVehicleAsset under construction413,638,881.34749,444,049.64250,759,184.6074,166,670.1251,982,734.6220,270,028.9538,986,311.35-9,727,444.307,925,030.14797,113.25571,975.00-6,196,331.38-(56,485,560.66)(24,719,372.96)(34,818,010.75)(1,236,303.33)(2,285,650.00)--334,600.851,115,848.4817,255.68-8,087,865.00(552,855.01)413,638,881.34703,020,534.13235,080,690.2640,163,028.3051,318,406.2926,072,243.9544,629,787.72 Total cost 1,599,247,860.62 25,217,894.07 (119,544,897.70) 9,002,715.00 1,513,923,571.99 Less Accumulated depreciationLand improvementBuilding and building improvementsMedical and laboratory equipmentOffice toolsOffice furnishingsVehicle(319,166.00)(500,172,246.20)(218,396,023.51)(66,850,330.82)(36,710,986.42)(19,581,093.36)-(13,728,992.94)(9,461,912.04)(2,107,930.05)(5,682,171.43)(942,828.84)-56,484,653.6624,636,357.6834,810,426.371,236,212.232,285,643.00--(287,738.77)--(4,652,896.81)(319,166.00)(457,416,585.48)(203,509,316.64)(34,147,834.50)(41,156,945.62)(22,891,176.01) Total accumulated depreciation (842,029,846.31) (31,923,835.30) 119,453,292.94 (4,940,635.58) (759,441,024.25) Property, plant and equipment - net 757,218,014.31 754,482,547.74 CostLand and land improvementBuilding and building improvementsMedical and laboratory equipmentOffice toolsOffice furnishingsVehicleAsset under construction413,638,881.34742,535,193.52243,818,908.7873,385,253.1548,648,148.6216,201,028.9523,195,700.99-1,314,583.1213,682,956.891,517,450.006,353,646.05-23,194,762.76-(207,311.07)(8,002,554.07)(743,202.03)(3,354,586.38)---5,801,584.071,259,873.007,169.00335,526.334,069,000.00(7,404,152.40)413,638,881.34749,444,049.64250,759,184.6074,166,670.1251,982,734.6220,270,028.9538,986,311.35 Total cost 1,561,423,115.35 46,063,398.82 (12,307,653.55) 4,069,000.00 1,599,247,860.62 11. PROPERTY, PLANT AND EQUIPMENTConsisted of:170Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Baht Consolidated financial statements Balance as atDecember31, 2024Balance as atDecember31, 2025Increase Decrease Transactions during the year Transfer in(Transfer out)Less Accumulated depreciationLand improvementBuilding and building improvementsMedical and laboratory equipmentOffice toolsOffice furnishingsVehicle(319,166.00)(488,652,854.39)(217,215,526.94)(66,365,123.77)(30,146,871.51)(15,244,826.70)-(11,526,382.73)(8,974,642.17)(3,761,416.27)(6,993,504.46)(267,266.66)-6,990.927,794,145.603,276,209.22429,389.55------(4,069,000.00)(319,166.00)(500,172,246.20)(218,396,023.51)(66,850,330.82)(36,710,986.42)(19,581,093.36) Total accumulated depreciation (817,944,369.31) (31,523,212.29) 11,506,735.29 (4,069,000.00) (842,029,846.31) Property, plant and equipment - net 743,478,746.04 757,218,014.31 Baht Separate financial statements Balance as atDecember31, 2024Balance as atDecember31, 2025Increase Decrease Transactions during the year Transfer in(Transfer out)CostLandBuilding and building improvementsMedical and laboratory equipmentOffice toolsOffice furnishingsVehicle35,319,713.34107,172,875.67100,260,630.929,158,197.049,250,605.3212,098,596.03--1,395,325.00218,846.66239,720.00---(3,086,274.00)(1,693,066.00)(450,292.32)(2,248,000.00)-----8,087,865.0035,319,713.34107,172,875.6798,569,681.927,683,977.709,040,033.0017,938,461.03 Total cost 273,260,618.32 1,853,891.66 (7,477,632.32) 8,087,865.00 275,724,742.66 Less Accumulated depreciationBuilding and building improvementsMedical and laboratory equipmentOffice toolsOffice furnishingsVehicle(38,176,146.42)(94,536,449.05)(7,900,824.53)(9,037,200.48)(12,098,585.03)(5,358,640.11)(2,166,425.74)(610,086.84)(122,378.38)(669,228.85)-3,086,229.021,693,042.00450,243.222,247,995.00----(4,652,896.81)(43,534,786.53)(93,616,645.77)(6,817,869.37)(8,709,335.64)(15,172,715.69) Total accumulated depreciation (161,749,205.51) (8,926,759.92) 7,477,509.24 (4,652,896.81) (167,851,353.00) Property, plant and equipment - net 111,511,412.81 107,873,389.66171Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Baht Separate financial statements Balance as atDecember31, 2023Balance as atDecember31, 2024Increase Decrease Transactions during the year Transfer in(Transfer out)CostLandBuilding and building improvementsMedical and laboratory equipmentOffice toolsOffice furnishingsVehicleAsset under construction35,319,713.34107,172,875.6796,168,459.129,057,370.949,275,044.278,029,596.03783,240.00--3,048,931.80103,661.6056,600.00-260,000.00---(2,835.50)(81,038.95)----1,043,240.00--4,069,000.00(1,043,240.00)35,319,713.34107,172,875.67100,260,630.929,158,197.049,250,605.3212,098,596.03- Total cost 265,806,299.37 3,469,193.40 (83,874.45) 4,069,000.00 273,260,618.32 Less Accumulated depreciationBuilding and building improvementsMedical and laboratory equipmentOffice toolsOffice furnishingsVehicle(32,817,505.92)(91,155,364.58)(6,867,150.70)(8,920,444.82)(8,029,585.03)(5,358,640.50)(3,381,084.47)(1,036,023.79)(197,767.61)---2,349.9681,011.95-----(4,069,000.00)(38,176,146.42)(94,536,449.05)(7,900,824.53)(9,037,200.48)(12,098,585.03)Total accumulated depreciation (147,790,051.05) (9,973,516.37) 83,361.91 (4,069,000.00) (161,749,205.51) Property, plant and equipment - net 118,016,248.32 111,511,412.81 As at December 31, 2025 and 2024, the Company and its subsidiaries had assets with thedepreciation fully calculated but still in use which had a cost value of Baht 256.03 million and Baht343.05 million, respectively. (Separate: Baht 114.36 million and Baht 110.46 million, respectively). As at December 31, 2025 and 2024, part of land with buildings of the Company and its subsidiarieswith a book value of Baht 113.50 million and Baht 118.90 million (the separate : Baht 85.15 million and Baht89.66 million), respectively were used by the Company and its subsidiaries as collateral for bankoverdrafts, short-term loans and long-term loans from financial institutions.172Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Baht Baht Consolidated financial statements Consolidated financial statements Balance as atDecember31, 2024(Restated)Balance as atDecember31, 2023(Restated)Balance as atDecember31, 2025Balance as atDecember31, 2024(Restated)Addition Addition Change inconditions/written-offChange inconditions/written-offTransactions during the year Transactions during the yearTransfer in(Transfer out)Transfer in(Transfer out)At costLandBuildingVehiclesOffice suppliesThe medical instruments271,786,596.53161,614,074.028,087,865.002,515,221.26943,350.00-4,720,833.20-1,971,215.004,165,000.00(79,520.08)(5,610,124.23)-(171,200.00)---(8,087,865.00)-(943,350.00)271,707,076.45160,724,782.99-4,315,236.264,165,000.00 Total 444,947,106.81 10,857,048.20 (5,860,844.31) (9,031,215.00) 440,912,095.70 Less Accumulated depreciationLandBuildingVehiclesOffice suppliesThe medical instruments(17,971,165.04)(25,544,118.54)(4,062,647.52)(682,517.42)(258,162.83)(10,304,729.02)(7,174,836.55)(590,249.29)(800,390.67)(456,640.69)73,520.045,151,124.29-171,200.00---4,652,896.81-287,738.77(28,202,374.02)(27,567,830.80)-(1,311,708.09)(427,064.75) Total (48,518,611.35) (19,326,846.22) 5,395,844.33 4,940,635.58 (57,508,977.66) Right-of-use assets - net 396,428,495.46 383,403,118.04 At costLandBuildingVehiclesOffice suppliesThe medical instruments272,596,201.45166,064,272.7312,156,865.001,370,221.26943,350.003,823,520.08--1,145,000.00-(4,633,125.00)(4,450,198.71)-----(4,069,000.00)--271,786,596.53161,614,074.028,087,865.002,515,221.26943,350.00 Total 453,130,910.44 4,968,520.08 (9,083,323.71) (4,069,000.00) 444,947,106.81 Less Accumulated depreciationLandBuildingVehiclesOffice suppliesThe medical instruments(12,179,681.21)(19,443,456.98)(5,925,149.53)(278,309.02)(75,193.06)(10,424,608.83)(7,826,292.04)(2,206,497.99)(404,208.40)(182,969.77)4,633,125.001,725,630.48-----4,069,000.00--(17,971,165.04)(25,544,118.54)(4,062,647.52)(682,517.42)(258,162.83) Total (37,901,789.80) (21,044,577.03) 6,358,755.48 4,069,000.00 (48,518,611.35) Right-of-use assets - net 415,229,120.64 396,428,495.46 12. RIGHT-OF-USE ASSETS12.1 Right-of-use assets consists of:173Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Baht Baht Separate financial statements Separate financial statements Balance as atDecember31, 2023Balance as atDecember31, 2023(Restated)Balance as atDecember31, 2024Balance as atDecember31, 2024Addition Addition Change inconditions/written-offChange inconditions/written-offTransactions during the year Transactions during the year Transfer in(Transfer out)Transfer in(Transfer out)At costLandVehiclesOffice supplies4,783,125.0012,156,865.001,370,221.263,744,000.00-1,145,000.00(4,633,125.00)---(4,069,000.00)-3,894,000.008,087,865.002,515,221.26 Total 18,310,211.26 4,889,000.00 (4,633,125.00) (4,069,000.00) 14,497,086.26 Less Accumulated depreciationLandVehiclesOffice supplies(3,753,042.79)(5,925,149.53)(278,309.02)(1,416,893.15)(2,206,497.98)(404,208.44)4,633,125.00---4,069,000.00-(536,810.94)(4,062,647.51)(682,517.46) Total (9,956,501.34) (4,027,599.57) 4,633,125.00 4,069,000.00 (5,281,975.91) Right-of-use assets - net 8,353,709.92 9,215,110.35 12.2 Expenses related to lease for the years ended December 31, 2025 and 2024 the amountsrecognized in profit or loss:Baht 2025 Consolidated financial statements Separate financial statements 2024(Restated)2025 2024 Depreciation of right-of-use assetsInterest expense on lease liabilitiesExpense relating to short-term lease19,326,846.2221,262,559.321,370,670.0021,044,577.0322,645,167.61962,821.682,638,639.98438,681.831,370,670.004,027,599.57377,812.06962,821.68 Contract assets - net 41,960,075.54 44,652,566.32 4,447,991.81 5,368,233.3112.2 Expenses related to lease for the years ended December 31, 2025 and 2024 theamounts recognized in profit or loss:174Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025At costLandVehiclesOffice supplies3,894,000.008,087,865.002,515,221.26--1,971,215.00--(171,200.00)-(8,087,865.00)-3,894,000.00-4,315,236.26 Total 14,497,086.26 1,971,215.00 (171,200.00) (8,087,865.00) 8,209,236.26 Less Accumulated depreciationLandVehiclesOffice supplies(536,810.94)(4,062,647.51)(682,517.46)(1,248,000.01)(590,249.30)(800,390.67)--171,200.00-4,652,896.81-(1,784,810.95)-(1,311,708.13) Total (5,281,975.91) (2,638,639.98) 171,200.00 4,652,896.81 (3,096,519.08) Right-of-use assets - net 9,215,110.35 5,112,717.18
12.3 For the years ended December 31, 2025 and 2024, the total cash outflow for leases inconsolidated financial statements amount to Baht 16.19 million and Baht 17.76 million,respectively and in separate financial statements amount to Baht 4.76 million and Baht 6.12million, respectively.The goodwill as at December 31, 2025 and 2024 in the consolidated financial statements were asfollows:Consisted of :13. GOODWILL 14. OTHER INTANGIBLE ASSETS Baht 2025 2024 1. Suksawat Medical Co., Ltd.By Accusfas Lab Center Co., Ltd.2. Mahaesak Hospital Co., Ltd.By IMH Silom Hospital Co., Ltd.116,258,349.73524,743,416.45116,258,349.73524,743,416.45641,001,766.18 641,001,766.18 Baht Consolidates financial statements Balance as atDecember31, 2024Balance as atDecember31, 2025Increase Decrease Transactions during the year Transfer in(Transfer out)CostComputer softwareCustomer relationshipComputer software in progress26,181,029.0843,580,000.00939,630.002,733,000.00-483,750.00(1,029,670.60)-(350,000.00)1,063,750.00-(1,063,750.00)28,948,108.4843,580,000.009,630.00 Total 70,700,659.08 3,216,750.00 (1,379,670.60) - 72,537,738.48 Less: Accumulated amortizationComputer softwareCustomer relationship(17,514,944.46)(7,732,394.01)(2,487,205.20)(2,075,238.10)1,029,658.60---(18,972,491.06)(9,807,632.11) Total (25,247,338.47) (4,562,443.30) 1,029,658.60 - (28,780,123.17) Right-of-use assets - net 45,453,320.61 43,757,615.31175Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
BahtBahtBahtCostComputer softwareCustomer relationshipComputer software in progress21,657,659.0348,070,000.00496,640.504,298,643.45-1,305,190.00(295,073.90)(4,490,000.00)(342,400.00)519,800.50-(519,800.50)26,181,029.0843,580,000.00939,630.00 Total 70,224,299.53 5,603,833.45 (5,127,473.90) - 70,700,659.08 Less : Accumulated amortizationComputer softwareCustomer relationship(15,186,506.46)(7,311,366.44)(2,353,386.74)(4,911,027.57)24,948.744,490,000.00--(17,514,944.46)(7,732,394.01) Total (22,497,872.90) (7,264,414.31) 4,514,948.74 - (25,247,338.47) Other intangible assets - net 47,726,426.63 45,453,320.61 CostComputer softwareComputer software in progress7,578,874.10-463,000.00350,000.00-(350,000.00)--8,041,874.10- Total 7,578,874.10 813,000.00 (350,000.00) - 8,041,874.10 Less: Accumulated amortization (6,624,482.56) (550,265.02) - - (7,174,747.58) Other intangible assets - net 954,391.54 867,126.52 CostComputer softwareComputer software in progress6,885,340.65342,400.00318,343.45375,190.00-(342,400.00)375,190.00(375,190.00)7,578,874.10- TotalLess: Accumulated amortization7,227,740.65(5,626,586.25)693,533.45(997,896.31)(342,400.00)---7,578,874.10(6,624,482.56)Other intangible assets - net 1,601,154.40 954,391.54Balance as atDecember31, 2023Balance as atDecember31, 2024Balance as atDecember31, 2024Consolidates financial statementsSeparate financial statementsSeparate financial statementsTransfer in(Transfer out)Transfer in(Transfer out)Transfer in(Transfer out)Balance as atDecember31, 2024Balance as atDecember31, 2025Balance as atDecember31, 2025IncreaseIncreaseIncreaseTransactions during the yearTransactions during the yearTransactions during the yearDecreaseDecreaseDecrease176Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
12.2 Expenses related to lease for the years ended December 31, 2025 and 2024 the amountsrecognized in profit or loss:Deferred tax assets Deferred tax liabilities17,270,648.08(104,157,956.91)20,552,095.75(99,576,021.53)1,781,299.96-1,370,674.32-Consolidated financial statements Consolidated financial statements Deferred tax assets : Allowance for the expected credit losses Allowance for decline in value of inventories Lease liabilities Provisions for employee benefits Deferred subsidies15,790,698.61351,164.49126,236,202.792,238,526.20607,601.15(14,651,783.10)7,739.451,718,970.72300,974.30(119,898.36)-----1,138,915.51358,903.94127,955,173.512,539,500.50487,702.79 Total 145,224,193.24 (12,743,996.99) - 132,480,196.25 Deferred tax liabilities : Right-of-use assets Effect of the business acquisition adjustment(117,502,909.21)(106,745,209.81)3,749,668.671,130,945.27--(113,753,240.54)(105,614,264.54) Total (224,248,119.02) 4,880,613.94 - (219,367,505.08) Deferred tax assets : Allowance for the expected credit losses Allowance for decline in value of inventories Lease liabilities Provisions for employee benefits Deferred subsidies8,257,993.638,785.93126,066,794.953,421,217.99727,499.487,532,704.98342,378.56169,407.84268,659.05(119,898.33)---(1,451,350.84)-15,790,698.61351,164.49126,236,202.792,238,526.20607,601.15 Total 138,482,291.98 8,193,252.10 (1,451,350.84) 145,224,193.24 Deferred tax liabilities :Right-of-use assetsEffect of the business acquisition adjustment(122,851,110.07)(108,443,455.42)5,348,200.861,698,245.61--(117,502,909.21)(106,745,209.81) Total (231,294,565.49) 7,046,446.47 - (224,248,119.02) 15. DEFERRED TAX ASSETS AND LIABILITIESDeferred tax assets and liabilities as follows:-Changes in deferred tax assets and liabilities for the years ended December 31, 2025 and 2024 aresummarized as follows:Baht 2025 Consolidated financial statements Separate financial statements 2024(Restated)2025 2024 Baht Baht Balance as atDecember31, 2024(Restated)Balance as atDecember31, 2024(Restated)Balance as atDecember31, 2025Balance as atDecember31, 2025Change inconditions/written-offChange inconditions/written-offRevenue (expenses) during the year Revenue (expenses) during the year In othercomprehensiveincomeIn othercomprehensiveincome177Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
16. OVERDRAFTS AND SHORT-TERM LOANS FROM FINANCIAL INSTITUTIONSConsisted of:Baht Baht Consolidated financial statements Separate financial statements Balance as atDecember31, 2024Balance as atDecember31, 2023Balance as atDecember31, 2025Balance as atDecember31, 2024In profit or loss In profit or loss Revenue (expenses) during the year Revenue (expenses) during the year In othercomprehensiveincomeIn othercomprehensiveincomeDeferred tax assets : Allowance for the expected credit losses Lease liabilities Provisions for employee benefits371,787.421,047,333.26959,532.2084,931.7014,136.62296,122.20---456,719.121,061,469.881,255,654.40 Total 2,378,652.88 395,190.52 - 2,773,843.40 Deferred tax liabilities : Right-of-use assets(1,007,978.56) 15,435.12 - (992,543.44) Total (1,007,978.56) 15,435.12 - (992,543.44) Deferred tax assets : Allowance for the expected credit losses Lease liabilities Provisions for employee benefits277,129.56431,906.611,214,574.9094,657.86615,426.65400,680.20--(655,722.90)371,787.421,047,333.26959,532.20 Total 1,923,611.07 1,110,764.71 (655,722.90) 2,378,652.88 Deferred tax liabilities : Right-of-use assets(394,398.89) (613,579.67) - (1,007,978.56) Total (394,398.89) (613,579.67) - (1,007,978.56) Baht Consolidated/Separated financial statements 2025 2024 OverdraftsPromissory note11,062,754.53-11,068,485.8120,000,000.0011,062,754.53 31,068,485.81 Interest rate (% p.a.)OverdraftsPromissory noteMOR-MORMRR178 As at December 31, 2025 and 2024, the Company had overdrafts with credit lines in the amount ofBaht 11 million. Guaranteed by the mortgaging of the land and building of the Company and guaranteed bydirectors. As at December 31, 2024, the Company had a short-term loan in the form of a 3-month promissorynote in the amount of Baht 20 million, and during the year 2025, the Company had already repaid theentire amount.Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
17. TRADE AND OTHER CURRENT PAYABLES 18. LONG-TERM LOANS FROM FINANCIAL INSTITUTIONSConsisted of:Consisted of:12.2 Expenses related to lease for the years ended December 31, 2025 and 2024 the amountsrecognized in profit or loss:Baht Baht 2025 2025 Consolidated financial statements Consolidated financial statements Separate financial statements Separate financial statements 2024 2024 2025 2025 2024 2024 Trade payables - related partiesTrade payables - unrelated partiesOther current payables - related parties Accrued interestOther current payables - unrelated parties Assets payables Accrued expenses Other-241,082,541.85-19,570,933.0619,022,193.493,430,923.70-127,697,068.00-15,941,235.2048,391,002.682,402,159.451,700.0026,071,445.25200,018.10958,506.003,483,749.55898,562.37-23,170,069.87-1,802,992.433,819,910.532,054,354.84 Total other current payables 42,024,050.25 66,734,397.33 5,540,836.02 7,677,257.80 Total trade and other current payables 283,106,592.10 194,431,465.33 31,613,981.27 30,847,327.67 Long-term loans (principle)Less : Deferred financial costAdd : Accrued interest579,797,290.96(1,117,079.48)3,769,085.10674,995,847.59(1,680,027.55)3,762,082.74500,498,494.22(837,979.45)3,241,487.15578,000.000.00(1,234,589.87)3,471,595.10Less : Current portion due within 1 year 582,449,296.58(100,170,636.11)677,077,902.78(605,217,005.23)502,902,001.92(78,000,000.00)580,237,005.23(580,237,005.23)Long-term loans from financial institutions - net 482,278,660.47 71,860,897.55 424,902,001.92 -179 Changes in long-term borrowings for the years ended 31 December 2025 and 2024 are asfollows.Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
The Company On May 16, 2023, the Company entered into a loan agreement with a local bank amountedBaht 800 million to increase capital in IMH Silom Hospital Co., Ltd. (subsidiary). The interest rate inthe month No. 1 - 36, charged MLR-1.5 percent per annum and from the month No. 37, charged MLR1 percent per annum. The repayment was due in 84 monthly installments. The principal wasrepayable in installments at Baht 10.50 million each. The first installment was started upon thematurity of 7 months from the first drawdown date. The mortgage of 21 title deeds of land andbuildings of the Company and its subsidiaries and certain of the subsidiary held indirectly’s ordinaryshares were as collateral for loans. And on January 30, 2025, the Company entered into an agreement to amend the loanagreement by agreeing to complete the repayment within May 2031 (1-year extension) and to repaythe principal in installments from January 2025 to December 2026 at Baht 6.50 million eachinstallment and from January 2027, onwards at Baht 10.50 million each installment. Under the loan agreement, the company must certain financial conditions and restrictionssuch as maintaining direct and/or indirect shareholding in the Mahaesak Hospital Co., Ltd. and IMHSilom Hospital Co., Ltd. and maintaining the Debt Service Coverage ratio at the ratio not lesser than1.00 of consolidated financial statements and maintaining the Debt to Equity ratio at the ratio notexceeding 2.00. As at December 31, 2025 and 2024, the Company was unable to maintain the debt servicecoverage ratio. However on December 17, 2025, the Company received a waiver of these financialconditions from bank.Subsidiary On August 15, 2024, the Subsidiary - Accusfas Lab Center Co., Ltd. entered into a loanagreement with a local bank amounted Baht 105 million. The interest rate in the month No. 1 - 60,charged SPRL-2.0 percent per annum. The repayment was due in 60 monthly installments. Therepayable in installments at Baht 2.04 million each. The first installment was started at August 31,2024. The mortgage of 8 title deeds of land and buildings of the Company, register businesscollateral by providing medical equipment, medical equipment and 10 mobile x-ray vehicles of thecompany and its subsidiary as collateral for loans.Baht 2025 Consolidated financial statements Separate financial statements 2024 2025 2024 Beginning balanceIncrease during the yearSettlement during the year677,077,902.78-(94,628,606.20)787,500,000.00104,475,000.00(214,897,097.22)580,237,005.23-(77,335,003.31)787,500,000.00-(207,262,994.77)Ending balance 582,449,296.58 677,077,902.78 502,902,001.92 580,237,005.23180Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
The carrying amounts of lease liabilities and the movement for the years ended December 31,2025 and 2024 are presented below As at December 31, 2025 and 2024, the Company and subsidiaries have lease liabilities to bepaid as follows:19. LEASE LIABILITIES 12.2 Expenses related to lease for the years ended December 31, 2025 and 2024 the amountsrecognized in profit or loss:Baht 2025 Consolidated financial statements Separate financial statements 2024(Restated)2025 2024 Lease liabilities as at beginning balanceIncreaseDecreaseAccretion of interestPayments426,236,737.2110,567,548.20-21,262,559.32(14,816,998.83)417,876,389.134,962,520.08(2,442,927.69)22,645,167.61(16,804,411.92)6,288,594.491,971,215.00-438,681.83(3,391,141.94)6,178,029.384,889,000.00-377,812.06(5,156,246.95)Lease liabilities as at ending balanceLess current portion443,249,845.90(110,887,604.41)426,236,737.21(55,442,165.52)5,307,349.38(2,251,842.81)6,288,594.49(2,765,180.15)Lease liabilities - net 332,362,241.49 370,794,571.69 3,055,506.57 3,523,414.34 12.2 Expenses related to lease for the years ended December 31, 2025 and 2024 the amountsrecognized in profit or loss:12.2 Expenses related to lease for the years ended December 31, 2025 and 2024 the amountsrecognized in profit or loss:Baht Baht Principal Principal Principal Principal Payment Payment Payment Payment DeferredinterestDeferredinterestDeferredinterestDeferredinterest2025 2025 2024(Restated)2024(Restated)Consolidated financial statements Separate financial statements Current portion due within one yearCurrent portion due after one year not over five yearsCurrent portion due after five years110,887,604.4117,911,088.37314,451,153.1218,511,883.3573,783,837.92250,175,252.33129,399,487.7691,694,926.29564,626,405.4555,442,165.5255,991,861.36314,802,710.3318,720,236.0572,433,925.65271,498,221.4874,162,401.57128,425,787.01586,300,931.81 Total 443,249,845.90 342,470,973.60 785,720,819.50 426,236,737.21 362,652,383.18 788,889,120.39 Current portion due within one yearCurrent portion due after one year not over five years2,251,842.813,055,506.57262,945.1997,202.432,514,788.003,152,709.002,765,180.153,523,414.34423,220.85285,385.663,188,401.003,808,800.00 Total 5,307,349.38 360,147.62 5,667,497.00 6,288,594.49 708,606.51 6,997,201.00181Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Statement of financial position Expense recognized in the statements of comprehensive income for the years ended December31, 2025 and 2024Principal actuarial assumptions in the estimates based on the actuarial principles20. PROVISIONS FOR EMPLOYEE BENEFITS Baht Baht Percentage 2025 2025 2025 Consolidated financial statements Consolidated financial statements Consolidated financial statements Separate financial statements Separate financial statements Separate financial statements 2024 2024 2024 2025 2025 2025 2024 2024 2024 Current service costInterest cost2,412,896.00249,562.003,017,843.16401,207.331,365,475.00115,136.001,875,893.67127,507.33Total 2,662,458.00 3,419,050.49 1,480,611.00 2,003,401.00 Provisions for employee benefits at beginning balanceGain (loss) on re-measurements of defined benefit plans From demographic assumption changes From changes in financial assumptions From improving the experienceBenefits paid by the plansCurrent service costs and interest11,192,631.00---(1,157,586.50)2,662,458.0017,106,089.96(1,524,030.00)(2,268,861.00)(3,463,863.20)(2,075,755.25)3,419,050.494,797,661.00----1,480,611.006,072,874.4922,964.00(1,606,027.00)(1,695,551.49)-2,003,401.00Provisions for employee benefits at ending balance 12,697,502.50 11,192,631.00 6,278,272.00 4,797,661.00 Discount rateSalary increase rateEmployee turnover rateMortality rate2.18 - 2.581.00 - 5.000 - 49Thai mortality table2017, improving withthe rate of 3% p.a.2.18 - 2.581.00 - 5.000 - 49Thai mortality table2017, improving withthe rate of 3% p.a.2.401.000 - 49Thai mortality table2017, improving withthe rate of 3% p.a.2.401.000 - 49Thai mortality table2017, improving withthe rate of 3% p.a.182Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Sensitivity analysis The results of sensitivity analysis for significant assumptions that affect the present value of provisions for the long-term employee benefit as at December 31, 2025 and 2024, are summarized below:Baht Baht Consolidated/Separate financial statements 2025 2024 Number of shares Baht increase increase Consolidated financial statements Consolidated financial statements Separate financial statements Separate financial statements decrease decrease increase increase Ordinary shares decrease decrease Premium onordinary sharesDiscount rate (1% movement)Salary increase rete (1% movement)Employee turnover rate (1% movement)Mortality rate (1 year)(970,218)1,189,002(1,046,039)43,8581,095,747(1,065,295)295,049(43,587)(622,994)699,622(666,380)39,569705,823(623,338)130,768(39,306)Discount rate (1% movement)Salary increase rete (1% movement)Employee turnover rate (1% movement)Mortality rate (1 year)(1,445,056.00)2,045,428.00(1,306,683.00)56,625.001,653,753.00(1,789,753.00)596,000.00(56,200.00)(897,824.00)1,258,370.00(971,207.00)53,757.001,030,054.00(1,089,962.00)272,938.00(53,357.00)Registered share capitalAs at January 1, 2025Decrease share capitalIncrease share capital215,000,000(998,200)130,000,900107,500,000.00(499,100.00)65,000,450.00---As at December 31, 2025 344,002,700 172,001,350.00 -Issued and fully paid-upAs at January 1, 2025Decrease share capitalIncrease share capital215,000,000(998,200)23,000,000107,500,000.00(499,100.00)11,500,000.00262,690,733.19-36,864,400.00As at December 31, 2025 237,001,800 118,500,900.00 299,555,133.19 21. SHARE CAPITAL183Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
According to the Extraordinary General Meeting of Shareholders’ No. 1/2025 held on May 20, 2025, ithad resolved to approved the following resolutions: 1. Approved the reduction of the Company’s registered capital and paid-up capital in the amount of Baht 499,100, from the original registered capital of Baht 107.50 million to the new registered capital of Baht 107 million, by cancelling 998,200 repurchased shares that have not been resold with a par value of Baht 0.50 per share. 2. Approved the issuance and offering of the warrants to purchase ordinary shares of Intermedical Care and Lab Hospital Public Company Limited No. 1 (IMH-W1) in the amount of not exceeding 107,000,900 units, to be allocated to the Company’s existing shareholders on a pro rata basis (Right Offering), at no cost (no offering price). 3. Approved the increase of the Company’s registered capital by Baht 65 million, from the existing registered capital of Baht 107 million to Baht 172 million, by issuing 130,000,900 newly issued ordinary shares. The Company had registered the capital increase with the Ministry of Commerce on June 5, 2025. 4. Approved the allocation of up to 130,000,900 newly issued ordinary shares with a par value ofBaht 0.50 per share, totaling Baht 65 million, as follows: 4.1 Approved the allocation of up to 107,000,900 newly issued ordinary shares to accommodate the exercise of the warrants to purchase ordinary shares of Intermedical Care and Lab Hospital Public Company Limited No. 1 (IMH-W1), to be allocated to the Company’s existing shareholders in proportion to their shareholding (Right Offering), at no offering price. 4.2 Approved the allocation of up to 23,000,000 newly issued ordinary shares to be offered to a specific investor (Private Placement), namely BKI Holdings Public Company Limited (“BKIH”), at the offering price of Baht 2.1028 per share, totaling Baht 48.36 million. BKIH will not be entitled to the allocation of IMH-W1. After BKIH becomes a shareholder of the Company, the Company will consider appointing Mr. Chai Sophonpanich, Chairman of the Board of BKIH, as Chief Advisor of the Company. The Company has reduction of registered capital of 998,200 shares, with a par value of 0.50 bahtper share, for a total of 499,100 baht. By deducting the total amount of unsold treasury shares and thetreasury shares reserve shown in the shareholders’ equity, the Company has registered the capitalreduction with the Ministy of Commerce on June 4, 2025. On June 10, 2025, the Company offering of 23,000,000 ordinary shares under a general mandate toa private placement. The Company sold at Baht 2.1028 per share amounted Baht 48.36 million. As aresult, the increase of the Company’s was Baht 11.50 million (23,000,000 ordinary at Baht 0.5 per share)and there was a premium share of Baht 36.86 million. The Company had received full payment for theshares and registered the capital increase with the Ministry of Commerce on June 12, 2025.184Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
22. WARRANT23. OTHER NON-CURRENT PROVISIONS According to the Extraordinary Shareholders’ Meeting No. 1/2025 dated May 20, 2025, it had aresolution to issue the warrant to acquire the ordinary shares of the Company in order to offer to theexisting shareholders of the Company for 106,779,476 units without offering value. Warrant No. 1 (IMH-W1) stated the significant information as follow: In 2021, the subsidiary - Mahaesak Hospital Co., Ltd. had been notified the results of theexamination of the use of medical services in the case of high-cost diseases in 2015 and 2016 by therandom data checking for medical services from the Social Security Office. The Social Security Officehad found the incorrect percentage of AdjRW from the amount that the hospital should receive. But thesubsidiaries were able to proceed with the dispute according to the period specified by the SocialSecurity Office. However, the subsidiary expected that the medical service fees would be refunded fromthe Social Security Office from information and past experience in the total amount of Baht 4.55 million. In 2022, the subsidiary - Mahaesak Hospital Co., Ltd. had been notified the results of theexamination of the use of medical services in the case of high-cost diseases in 2019 by the random datachecking for medical services from the Social Security Office. The Social Security Office had found theincorrect percentage of AdjRW from the amount that the hospital should receive. But the subsidiary wasable to proceed with the dispute according to the period specified by the Social Security Office. However,the subsidiary expected that the medical service fees would be refunded from the Social Security Officefrom information and past experience in the total amount of Baht 12.59 million.Warrant to acquire the ordinary shares of Intermedical Care and LabHospital Public Company Limited allocated to the existingshareholders of the Company No. 1 (“IMH-W1”)Bearer and exchangeableBearer and exchangeable1 years from the allocation date of warrant July 1, 20251 warrant per 1 new ordinary share1 warrant per 1 new ordinary shareSeptember 30, 2025June 30, 2026June 30, 2026Class of warrant :Type of warrant Offering price per unit Age of warrant Issue and offering date Exercise rate Exercise price Initial exercise dateFinal exercise dateExpire dateThe Company’s warrant stated the change during the period as follows::::::::::IMH-W1 - 106,779,476 - - 106,779,476Class of warrant Issue amount Exercise amount Expire amount Residual amountAs at December31, 2025Residual amountAs at January1, 2025185Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
24. TREASURY SHARES The Social Security Office had notified by the letter informing the results of the examination of theuse of medical services in the case of high-cost diseases in 2018 and 2020 - 2021 by the random datachecking for medical services. The Social Security Office had found the incorrect percentage of AdjRWfrom the amount that the hospital should receive. But the subsidiary - Mahaesak Hospital Co., Ltd. wasable to proceed with the dispute according to the period specified by the Social Security Office. However,the subsidiary expected that the medical service fees would be refunded from the Social Security Officefrom information and past experience in the total amount of Baht 19.66 million. As at December 31, 2024, the subsidiary had outstanding of other non-current provisions in theamount of Baht 36.80 million. During the year 2025, the subsidiary had refunded the medical service fees in the amount of Baht3.44 million, the total refunds of medical service fees in the amount of Baht 40.24 million by deductingfrom the subsidiary’s deferred medical service fees in the amount of Baht 55.65 million. The SocialSecurity Office had deducted the medical service fees amount of Baht 40.24 million and had paid thedeferred medical service fees in the amount of Baht 15.41 million. At the Board of Directors’ Meeting No. 5/2021 held on August 30, 2021, it had the resolution toapprove the Treasury Stock Project to manage excess liquidity of the Company, within the limit of notmore than 50 million baht, the number of shares to be repurchased not more than 3 million shares, orequivalent to not more than 1.4 percent of the total issued shares. The repurchasing period in the StockExchange of Thailand is between September 14, 2021 to March 11, 2022, which have to be resold theshares held in treasury within 3 years after the completion date, which is the day the company hascompletely purchased shares as stated in the project or 6 months after the implementation, whichever isthe earlier. If the company cannot sell off all repurchased shares at the time, then it should write off theremaining repurchased amount. The treasury stock held by the Company will not be counted as aquorum of shareholders and will not have the right to vote and the right to receive dividends. When the share capital is repurchased, the amount of consideration paid including directlyattributable costs, is classified as treasury stock and presented as a deduction in shareholders’ equityand the same amount is allocated from retained earnings to treasury stock reserve under shareholders’equity. When reselling treasury stock, the amount is recognized as an increase in shareholders’ equity bydebit the treasury stock the cost of treasury stock sold calculated by the weighted average method, andtransferring the same amount from the treasury shares reserve account to retained earnings. The surpluson the resale of treasury stock is presented as a separate item in shareholders’ equity. Net loss on saleor cancellation of treasury stock is deducted from retained earnings after deducting all surplus ontreasury share. As at March 11, 2022 (date of completion of the share repurchase period), the Company hadpurchased back 1,000,000 ordinary shares (par value of Baht 0.50 each), or 0.47 percent of total numberof issued and fully shares, for a total of Baht 13,286,810 (excluded cost of repurchase treasury shares). The Company has reduction of registered capital of 998,200 shares, with a par value of Baht 0.50per share, for a total of Baht 499,100. By deducting the total amount of unsold treasury shares and thetreasury shares reserve shown in the shareholders' equity.186Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
25. LEGAL RESERVE 26. DIVIDEND 27. EXPENSES BY NATURE In compliance with the Public Company Act, B.E.2535 (1992), the Company has to set aside aportion of annual net profit for legal reserve not less than 5% of annual net profit until this reserve is notless than 10% of authorized capital. Such reserve is not allowed to pay for dividend. According to the Board of Directors’ Meeting of the Subsidiary No. 4/2024 held on August 6, 2024,it had a resolution to approve the interim dividend payment from the annual retained earnings to16,400,000 ordinary shares at Baht 3.50 each, amounted Baht 57.40 million. The interim dividend hadbeen paid on August 14, 2024. According to the Board of Directors’ Meeting of the Subsidiary No. 2/2024 held on August 14,2024, it had a resolution to approve the interim dividend payment from the annual retained earnings to10,000,000 ordinary shares at Baht 4.10 each, amounted Baht 41.01 million. The interim dividend hadbeen paid on August 22, 2024. Significant expenses classified by nature are as follows:Subsidiary - Accusfas Lab Center Co., Ltd.Subsidiary - IMH Silom Hospital Co., Ltd.12.2 Expenses related to lease for the years ended December 31, 2025 and 2024 the amountsrecognized in profit or loss:Baht 2025 Consolidated financial statements Separate financial statements 2024(Restated)2025 2024 Salaries, wages and other employee benefitsPhysicians’ feeMedicine, medicine supplies and suppliesRefer costsConsulting feeDepreciation and amortizationUtilities costsExpected credit losses197,368,521.54145,975,031.42174,615,771.6058,984,065.949,571,930.8855,813,124.8114,076,795.6488,003,826.81197,218,590.04143,675,202.40146,209,785.8252,755,642.744,255,830.0059,832,203.6314,269,789.9537,663,524.8955,163,962.5619,630,611.0029,061,447.43-9,423,930.8812,115,664.923,532,156.32194,361.5248,813,767.2622,339,783.4430,148,303.86-4,235,500.0014,999,012.253,214,674.59473,289.32187Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
28. (INCOME) TAX EXPENSES28.1 Major components of (income) tax expenses for the years ended December 31, 2025 and 2024consisted of:28.2 A numerical reconciliation between (income) tax expense and the product of accounting profitmultiplied by the applicable tax rate for the years ended December 31, 2025 and 2024 which aresummarized as follows:Baht Baht 2025 2025 Consolidated financial statements Consolidated financial statements Separate financial statements Separate financial statements 2024(Restated)2024(Restated)2025 2025 2024 2024 (Income) tax expenses shown in profit or loss:Current tax expense: Income tax expenses for the yearDeferred (income) tax expenses: Changes in temporary differences relating to the original recognition and reversal3,755,829.977,863,383.0510,090,206.46(15,239,698.57)-(410,625.64)-(497,185.04) Total 11,619,213.02 (5,149,492.11) (410,625.64) (497,185.04) Income tax relating to components of other comprehensive income:Deferred tax relation to: Gains on re-measurements of defined benefit plans - 1,451,350.84 - 655,722.90 Total - 1,451,350.84 - 655,722.90 Accounting profit (loss) for the year (182,935,573.61) (111,687,948.17) (25,718,129.62) 36,326,861.60 The applicable tax rate (%) 20 20 20 20 Income tax expense at the applicable tax rate (36,587,114.72) (22,337,589.64) (5,143,625.92) 7,265,372.32 Reconciliation items: Tax effect of expenses that are not deductible in determining tax profit: - Expenses not allowed as expenses in determining taxable profit Tax effect to income or profit that are not required in determining taxable profit: - Dividend income - Expenses deducted as additional taxable income Unrecorded tax losses23,982,782.30-(69,219.60)24,292,765.041,881,239.26-(41,288.80)15,348,147.07432,999.54-(43,240.00)4,343,240.74595,872.25(19,681,875.58)(6,079.00)11,329,524.97Total reconciliation items 48,206,327.74 17,188,097.53 4,733,000.28 (7,762,557.36) Total (income) tax expenses 11,619,213.02 (5,149,492.11) (410,625.64) (497,185.04)188Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
28.3 A numerical reconciliation between the average effective tax rate and the applicable tax rate forthe years ended December 31, 2025 and 2024 are summarized as follows: Basic earnings (loss) per share is calculated by dividing the profit (loss) for the period attributableto shareholders of the Company (excluded other comprehensive income) by the weighted averagenumber of ordinary shares which are issued and paid-up during the period. Diluted earnings per share is calculated by dividing net profit for the period attributable to equityholders (excluding other comprehensive income) by the weighted average number of ordinary shares inissue during the year plus the weighted average number of ordinary shares which would need to beissued to convert all dilutive potential ordinary shares into ordinary shares. The calculation assumes thatthe conversion took place either at the beginning of the period or on the date the potential ordinaryshares were issued. In case the warrant to purchase ordinary shares of the Company has an exercise price higher thanthe average market price of common shares during the period. The effect of diluted equivalent ordinaryshares will not be shown and not effect on the diluted earnings per share.2025 2025 Consolidated financial statements Separate financial statements 2024(Restated)2024(Restated)Accounting profit (loss) before tax expense for the yearIncome tax (expenses) at the applicable tax rateReconciliation items(182,935,573.61)(36,587,114.72)48,206,327.7420.00(26.35)(111,687,948.17)(22,337,589.64)17,188,097.5320.00(15.39)Income tax expenses at the average effective tax rate 11,619,213.02 (6.35) (5,149,492.11) 4.61 Accounting profit (loss) before tax expense for the yearIncome tax (expenses) at the applicable tax rateReconciliation items(25,718,129.62)(5,143,625.92)4,733,000.2820.00(18.40)36,326,861.607,265,372.32(7,762,557.36)20.00(21.37)(Income) tax expenses at the average effective tax rate (410,625.64) 1.60 (497,185.04) (1.37) Tax amount(Baht)Tax amount(Baht)Tax rate(%)Tax rate(%)Tax amount(Baht)Tax amount(Baht)Tax rate(%)Tax rate(%)29. BASIC EARNINGS (LOSS) PER SHARE189Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
For the years ended December 31, 2025 and 2024, the Company has no dilutive potential ordinaryshares. Operating segment information is reported in a manner consistent with the internal reports that areregularly reviewed by the chief operating decision maker in order to make decisions about the allocationof resources to the segment and assess its performance. The chief operating decision maker has beenidentified as the executive committee. The Company and its subsidiaries’s main businesses were specialized occupational medicinehospital, medical services, analyzed samples and sent for medical diagnosis. Its operations are carried ononly in Thailand. Segment performance is measured based on operating profit or loss, on a basisconsistent with that used to measure operating profit or loss in the financial statements.Baht Thousand Baht 2025 2025 2025 2025 Hospital Occupational medicine hospital Total Consolidated financial statements Consolidated statements of comprehensive income for the year ended December 31, Separate financial statements 2024(Restated)2024(Restated)2024(Restated)2024(Restated)2025 2024 Profit (loss) attributable to ordinary Owners of the company (Baht)Issued and paid-up share capital (Shares) Number of ordinary shares at beginning of the year Less Share capital Add Share capital Less Treasury shares Add Reissuance treasury shares(188,691,177.68)215,000,000(998,200)23,000,000--(99,780,903.26)215,000,000--(1,000,000)1,800(25,307,503.98)215,000,000(998,200)23,000,000--36,824,046.64215,000,000--(1,000,000)1,800 Number of ordinary shares at end of the year 237,001,800 214,001,800 237,001,800 214,001,800 Weighted average number of ordinary shares (Shares) 227,296,896 214,001,800 227,296,896 214,001,800 Profit (loss) per share (Baht/share) Basic earnings (loss) per share (Baht per shares)(0.83) (0.47) (0.11) 0.17 Revenue from businessCost of business580,255(556,340)608,316(511,239)174,661(96,920)147,732(106,889)754,916(653,260)756,048(618,128)Gross profit 23,915 97,077 77,741 40,843 101,656 137,920 Other incomesSelling expensesAdministrative expensesOther lossesFinance costs(Income) tax expenses8,645(15,196)(133,253)(88,004)(56,783)(11,619)7,159(15,114)(137,413)(37,663)(66,576)5,149Loss for the year (194,554) (106,538) 30. OPERATING SEGMENT190Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Thousand Baht 2025 2025 2025 Hospital Occupational medicine hospital Total Consolidated statements of comprehensive income for the year ended December 31, 2024(Restated)2024(Restated)2024(Restated)Assets as at December 31, Fixed assets Other assets646,6101,278,788645,7071,385,020107,87367,666111,511146,656754,4831,346,454757,2181,531,676 Total 1,925,398 2,030,727 175,539 258,167 2,100,937 2,288,894 Depreciation and amortization 55,813 59,832 Segment revenues from servicePoint in time580,255 608,316 174,661 147,732 754,916 756,048 Total 580,255 608,316 174,661 147,732 754,916 756,048Information about major customers In the years 2025, the Company and its subsidiaries had revenue from 2 major customers, totalamount Baht 439.19 million equivalent to 56.08 percent of total revenue. In the years 2024, the Company and its subsidiaries had revenue from 2 major customers, totalamount Baht 478.49 million equivalent to 62.06 percent of total revenue. As at December 31, 2025 and 2024, the Company and its subsidiaries have commitments andcontingent liabilities as follows:31.1 Capital commitments The Company and its subsidiaries had capital commitments relating to be paid as follows:31.2 Commitment related to investment in subsidiaries As at December 31, 2025 and 2024, the Company had the commitment for the unpaidshare fees to two subsidiaries totaled Baht 263.66 million.31.3 Commitments related to operating agreements The Company and its subsidiaries have entered into several operating lease agreementsin respect of the lease of vehicle, and equipment for operations. The terms of the agreements aregenerally between 1 and 5 years.31. COMMITMENTS AND CONTINGENT LIABILITIES Million Baht Consolidated financial statements 2025 2024 Construction of buildingsInstallation of the information system33.36-43.832.17191Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025
Future minimum lease payments required under these agreements were as follows. Million Baht Baht Baht 2025 2025 Balance as atDecember31, 2024(Restated)Consolidated financial statements Consolidated financial statements Consolidated financial statements Separate financial statements Separate financial statements 2024 2024 Cash flowsIncrease(decrease)*2025 2025 Non-cash transactionIncrease(decrease)2024 2024 Balance as atDecember31, 2025Payable:In up to one yearIn over one year and up to five years2.843.160.550.330.380.290.310.19Social Security OfficeNational Health Security OfficeUtility guaranteesOthers22.18-1.761.4913.523.421.761.49- -0.161.19-3.210.161.19 Total 25.43 20.19 1.35 4.56 Overdrafts and short-term loans from a financial institutionShort-term loans from related person and companyLong-term loans from financial institutionsLeases liabilitiesTreasury shares31,068,485.8143,000,000.00677,077,902.78426,236,737.21(13,262,888.00)(20,005,731.28)2,500,000.00(94,628,606.20)6,445,560.49----10,567,548.2013,262,888.0011,062,754.5345,500,000.00582,449,296.58443,249,845.90- Total 1,164,120,237.80 (105,688,776.99) 23,830,436.20 1,082,261,897.0131.4 Guarantees As at December 31, 2025 and 2024, there were outstanding bank guarantees issued by the banks onbehalf of the Company in respect of certain performance bonds as required in the normal course of business.The details of the letters of bank guarantee are as follows: Changes in the liabilities arising from financing activities for the years ended December 31, 2025 and2024 are as follows:32. RECONCILIATION OF LIABILITIES ARISING FROM FINANCING ACTIVITIES192Intermedical Care and Lab Hospital Public Company Limited Annual Report 2025