Company Performance: STHAI's financial health, revenue growth, profitability, and debt levels significantly impact investor confidence and stock price.

Industry Trends: The overall performance and outlook of the construction materials sector, particularly cement, influence investor sentiment towards STHAI.

Economic Conditions: Thailand's GDP growth, inflation rates, interest rates, and government infrastructure spending affect demand for cement and thus STHAI's profitability.

Market Sentiment: General investor mood, risk appetite, and overall market conditions on the Stock Exchange of Thailand (SET) play a role.

Competitor Activity: Actions of major competitors in the cement industry, such as pricing strategies, capacity expansions, and market share changes, can impact STHAI's position.

Government Policies: Regulations related to construction, infrastructure development, environmental standards, and import/export duties can affect STHAI.

Raw Material Costs: Fluctuations in the prices of key raw materials like limestone, coal, and energy affect STHAI's production costs and profitability.

Global Factors: Global economic trends, international trade policies, and geopolitical events can indirectly influence STHAI through their impact on the Thai economy.