SPDR Gold Trust Thailand Depositary Receipts Repr 1 (SET:GOLDUS03) is an exchange-traded depositary receipt issued by InnovestX Securities Co., Ltd. that provides retail and institutional investors with direct investment exposure to physical gold bullion through underlying shares of the SPDR Gold Trust. Trading on the Stock Exchange of Thailand in Thai Baht, the security represents beneficial interest in the world's largest physically backed gold exchange-traded fund, which is sponsored by World Gold Trust Services, LLC and marketed by State Street Global Advisors. The instrument's core products, services, and investment features include cross-border securitization and depository access to underlying foreign exchange-traded funds; local currency trading and settlement in Thai Baht without foreign exchange conversion barriers; fractional entitlement to allocated physical gold bars vaulted primarily in London; continuous price tracking aligned with the LBMA Gold Price PM; secondary market liquidity provision on the Stock Exchange of Thailand; and institutional-grade custodial safekeeping through international custodians. The issuing entity, InnovestX Securities Co., Ltd., was founded in 1995, is headquartered in Bangkok, Thailand, and operates as the specialized investment and digital asset flagship of SCB X Public Company Limited. In recent developments, InnovestX has substantially broadened its suite of international depositary receipts and DRx instruments on the Stock Exchange of Thailand to meet surging domestic demand for offshore diversification and commodity hedging, upgraded digital trading capabilities across its mobile investment platforms, and strengthened liquidity-provider operations to support efficient execution and narrow bid-ask spreads amidst heightened global macroeconomic volatility and record precious metal trading volumes.