result of the decrease in gross profit and expenses of new accounting standard adoption as mentioned above; however, the Company is still able to control service and administrative expenses and decrease

helping Company’s master agents in COVID-19 situation as mentioned above; however, the Company is still able to control service and administrative expenses and decrease financing costs from bank loan

Company has more advertising in various media in order to publicize and promote the content, resulting in a decrease in net profit ratio (ROS) from 16.24% in 2017 to 16.00% in 2018. The total expense to

100.0% 3,520.17 100.0% (396.03) -10.1% Statement of Financial position 31-Dec-18 31-Dec-19 Increase (Decrease) 4 Forth Smart Service Public Company Limited (FSMART) FY2019 Management Discussion and

and THB 73.47 million respectively. Total revenue decreased by THB 0.32 million or 0.43% from the previous year mainly due to a decrease in SAAM Energy Development Public Company Limited - 2 - service

Increase (Decrease) 4 Forth Smart Service Public Company Limited (FSMART) 3Q2020 Management Discussion and Analysis Key Financial Ratio As at September 30, 2020, the Company had the current ratio of 0.62

Financial position 31 December 2018 31 March 2019 Increase (Decrease) 4 Forth Smart Service Public Company Limited (FSMART) 1Q19 Management Discussion and Analysis Total shareholders’ equity as at 31 March

. 75 million baht, a decrease of THB 10. 05 million YoY ( - 50. 74%) compared to the same period last year. This decrease resulted from the company receiving capital from the IPO fundraising, which was

compared to the previous year, resulting from the decrease of customers’ purchase orders. 3. The Company obtained receiving dividend of 28 million Baht, slightly increasing from the previous year, which was

period of previous year 1.0% while the Company’s gross profit margin was 22.4% or 1.2% decrease.  Other Income The Company and its subsidiary’s other income was Baht 2 million, decreasing amount of Baht 1