Analysis Yearly ending 31 December 2019 1. Highlights The Consolidated sale revenue posted stood at Baht 17,416 million decreased by Baht 12,549 million compared to last year since both sale volume and

first six months of 2020 stood at 30.5% decrease from 42.9% in the same period of previous year) mainly from a cost adjustment to the Belle Grand Rama 9 to accurately reflect the project’s cost of sale

increased 31% are results of volume impact in domestic market and also selling price adjustment to trade, regarding to raw material cost increase. ⚫ Total expenses increase 30% are mainly reflected by

supported by an increase in capacity from the investment in Phase 3 at the new plant, and the appreciation of the Baht. Cost of Sales and Gross Profit The profit margin increased slightly Q-o-Q, but dropped Y

to sales volume growth that was supported by an increase in capacity from the investment in Phase 3 at the new plant, but mainly offset by the appreciation of the Baht. Cost of Sales and Gross Profit

including the impact that must result in a price adjustment and the adjustment of the selling price is quite difficult because this business group is highly competitive in the current economic situation

increased 31% are results of volume impact in domestic market and also selling price adjustment to trade, regarding to raw material cost increase. ⚫ Total expenses increase 30% are mainly reflected by

: - 1. Revenues from sales and services in amount of Baht 1,530.27 million, an increase of Baht 543 million or 55.00%, which was an increase of revenue from printing business at Baht 150.16 million or

(Private Placement) 4. Information Memorandum on the Issuance and the Allocation of the newly issued Shares to Accommodate the Right Adjustment of the Warrant to Purchase the newly issued Shares of the

which are continuing growth. Financial cost Financial cost of the Group consists of long-term loan from a commercial bank to purchase property, plant, and equipment which occurred at the end of 2016, and