generation through new shopping malls, enhancement of existing malls, as well as efficient cost management. CPN currently manages 33 shopping malls with the net leasable area (NLA) of approximately 1.7 mn sqm

in 8 countries. Management Discussion and Analysis (MD&A) for the second quarter ended 30 June 2020 4 | P a g e Summary of Operating Results 1/ Figures after reclassification. Cost of rental and

gain (loss) 6.67 7.63 (12.65) Other income 3.80 11.42 (66.77) Total revenues 2,031.10 2,166.69 (6.26) Cost of goods sold 1,385.47 1,398.20 (0.91) Temporary shutdown expenses 75.92 159.15 (52.29

year are as follows: (million baht) Quarter 3 rd /2019 Quarter 3 rd /2018 Rental and services income 1,250.43 864.31 Cost 850.85 682.20 Gross profit 399.58 182.11 Gross profit margin 31.96% 21.07% 5. In

684.6 482.3 41.9% 1,817.4 1,331.40 36.5% Cost of services 233.7 173.0 35.1% 660.2 480.5 37.4% Insurance expenses 76.6 25.5 200.5% 168.8 47.7 253.9% Gross Profit 374.2 283.9 31.8% 988.4 803.2 23.1

% 100.00% 100.00% Cost of sales (119.80 ) (95.57 ) (24.23 ) 25.35% (74.98%) (68.02%) Gross Profit 39.98 44.94 (4.96 ) (11.04%) 25.02% 31.98% Other income 6.56 6.76 (0.20 ) (2.96%) 4.11% 4.81% Revenues from

period of previous year that has 23.57 Million Baht in profit. Due to the decrease in the volume and the selling price of steel wire and UWC has cost of work and project work increased. Due to the

, declined from QoQ which reported at 39.7%. The decrement was due to the selling of decorative items continuously grew from the 1st quarter. The Company reported total expenses and cost of Baht 489.0 million

737.23 576.73 Cost 551.44 458.12 Gross profit 185.79 118.61 Gross profit margin 25.20% 20.57% 6. In the second quarter of 2017, details of share of profit from investment in associates compared to the

from Bangpoo Industrial Estate has exceeded the revenue from condominium project. 2 . The total expenses were Baht 3 6 9 .5 4 million, consist of Cost of sales in real estate development with an increase