RS shares plunged 16% due to severe liquidity problems and a default on promissory notes (B/E) totaling over 317 million baht.

RS shares plunged more than 16%, falling to 15 satang, after facing severe liquidity problems and defaulting on bills of exchange totaling over 317 million baht. The company also reported a massive first-quarter loss of 285 million baht.

On May 19, 2026, shares of RS Public Company Limited plummeted 27.78% to 0.13 baht, a decrease of 0.05 baht, at 10:05 AM, before recovering to 0.15 baht, a decrease of 16.67%.

The Stock Exchange of Thailand (SET) placed a CB (Contingency Trading Support) mark on RS shares on May 18th. This was a result of the company's announcement on May 15th, 69, regarding its Q1/2569 financial statements, which indicated that the company and its subsidiaries had defaulted on debt payments to a financial institution, potentially impacting the group's financial outlook.

RS explained that due to the economic slowdown, the group of companies has been unable to generate revenue according to its planned targets, resulting in a temporary shortage of cash flow for the entire group.

Furthermore, the group of companies is in the process of negotiating the terms of debt restructuring for maturing debts with a financial institution, resulting in a default on promissory notes totaling 317.37 million baht. This item has been recorded as short-term loans from financial institutions and accrued interest in both the consolidated and separate company financial statements.

As of May 18, 2569, the group of companies is in the process of negotiating repayment terms with the financial institutions that issued the promissory notes. The group's management believes that these negotiations will be successfully concluded in the near future. However, the group's management continues to accelerate the implementation of its business strategies while simultaneously revising its financial strategies to ensure the group has sufficient liquidity, the ability to repay the debt upon maturity, and the continuity of its business operations.

In the first quarter of 2026, the company had total revenue of 333.4 million baht, a decrease of 19.2% from the same quarter of the previous year, which had revenue of 412.6 million baht. Almost all businesses experienced a decrease in revenue, and the company incurred a net loss of 285.2 million baht, a larger loss than the 274.6 million baht loss in the same quarter of the previous year.

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