foreign company. “holding company” means a foreign company whose core business is holding shares of other companies and none of significant manufacturing, distribution or service. “Thai company” means a

., Ltd. (50%) Expected Profit: Rental fee, management fee 5. Financial Position and Performance of LPN Below is the summary of financial position and significant performance of LPN from 2016 to 2018. The

more efficient. Finance cost In 2018, the Group has the finance cost of Baht 128 million and the finance cost to revenue from main business ratio is 2%. There is no significant change compared to those

any special transactions or transactions came from the abnormal operations. • There was no significant change after the date specified in the latest financial statement that may affect the financial

was driven by the outstanding profit of the Company and its subsidiary. In addition, the significant improvement of return on equity was from the decrease of shareholders’ equity as mentioned above. For

a gross profit of 237.71 mb (2017: 192.41 mb), a significant increase of 45.30 mb or 23.5% improvement. The reduction in cost of service also contributed positively to a better gross profit margin at

significant improvement of 26.9%, following higher rental spaces and improved occupancy rates. • Strong growth from overseas sales was supported by 2 new franchise stores in Vietnam, growth from OEM and trading

the accounts of the Company and its subsidiaries which the operation of subsidiaries have not yet significant, the Management Discussion and Analysis have been submitted based on separate financial

(Shenzhen) Company Limited in the proportion of 70 percent of the total ordinary shares. The Company is required to recognize revenue. Into financial statements Resulting in a significant increase in service

value that has been revalued to reflect the current market prices of raw materials, which some items were in downtrend and the significant appreciation of Baht, resulting in higher cost of goods sold. The