potential in the future. 2 Gross profits and gross profits margin In Q2/2017, our gross profits amounted to THB 1,131 million, up by THB 270 million or 31.4%, and represented gross profit margin of 32.3

by ONE Asset Management Limited (the Company’s subsidiary), and an increase in the Company’s underwriting fees. 1.3 Interest on margin loans The Company’s interest on margin loans in the second quarter

profit margin. While, Q3 2017, the Group’s gross profit was 17.48 Million Baht, or 6.33% of gross profit margin. The main reason of Q3 2017 gross profit margin was lower than average of 10% because of the

QoQ comparison showed a 56% drop as that of 4Q17 incorporated profit of a non-recurring income from the recognition of the upfront lease payment of Singha Complex, as mentioned previously. Profit margin

1 | MANAGEMENT DISCUSSION AND ANALYSIS FOR THE YEAR 2020 Management Discussion and Analysis for the Year 2020 1 March 2021 In the 3-month period of Q4-2020, UWC reported gross margin of THB 28.04

products, especially products which started selling in 2017 and had full recognition in 2018. The product category with highest revenue increased was facial skincare products with its revenue increased

year or increased by THB 32 million. The Company’s net profit margin increased from 19% in the third quarter of 2019 to 29% in the third quarter of 2020 because its sales of electricity increased as it

majority of customers have slow down of investment. Gross Profit The Group's gross profit margin was 151 million baht in the first quarter of 2019, decrease of 97 million baht or 40% from the same period of

majority of customers have slow down of investment. Gross Profit The Group's gross profit margin was 116 million baht in the Second quarter of 2019, decrease of 155 million baht or 57% from the same period

drop of 1.5% in the domestics. 2 Gross profits and gross profits margin Gross profits were THB 1,834 million, increased by THB 424 million or 30.1%, representing gross profit margin of 40.7%, an increase