the year. Foreign purchasing power was greatly contracted by the impact of trade war affecting the sales volume while the falling price of raw materials in global market and intensive competition among

quarter of 2021 To The President The Stock Exchange of Thailand We, Zen Corporation Group Public Company Limited (“the company”), are pleased to provide you our management discussion and analysis for the

of Baht 1,299.43 million, the decrease in revenue from energy sector by Baht 39.15 million due to raw materials and the decrease in revenue from chemicals by Baht 49.98 million. However, the Company

. - Inventories increased by Baht 26.28 million, because the Company had to reserve packages and raw materials for customers and new customers in manufacturing. - Lease receivables were decreased by Baht 7.86

, because the subsidiaries withdrew more short-term loan from financial institutions for operations. - Trade and other payables increased by Baht 105.84 million, the company's purchase of raw materials and

14.37% due to cost of raw materials for wire has adjusted which higher than sales price and allowance for diminution in value of inventories has been recorded because of inventory deterioration which

by 8.9% from the marketing activities expenses. The administrative expenses reported at Baht 28.8 million, increased by 4.1% due to writing off the obsolete finished goods and raw materials. Shutdown

inventories. The company has properly managed and implemented strategic controlling of inventories, as a result, the raw material stock was reduced. Moreover, there was less of investment for sale from selling

grow its business. At present, Mr. Waratkris is on the top ten shareholders list of a listed company operating the business in relation to distribution of metal products to be raw materials of various

the Stock Exchange of Thailand Attachment: Copy of financial statements dated on 30th June 2017 Thai-English each. Union Pioneer Public Company Limited would like to clarify the net profit for the 2nd