Purchase Agreement. Benefits of entering into the transaction are as follows: 1. Improvement in financial liquidity to focus investments on its core business 2. Decreasing THB 620 million of debts in terms

gain from asset sale to director, which is not related to the Company’s core business. Cost of sales and services Cost of sales and services consists of cost of sales from renewable energy investment

21.8% in the same period of 2019. The cost of food and beverages for core brands was well-controlled and even decreased from the previous year, yet the cost of food and beverages of new brands required

baht increased 608 million baht or 12% y-y and 6% q-q. This is the result of continued growth in core business revenues especially in credit card increased by 17% y-y, which in line with increasing of

Company's core businesses, especially the credit card income which having 18.2% growth y-y. Hence, the growth of revenue, especially credit cards, was mainly derived from marketing activities to stimulate

Website: www.aapico.com Management Discussion and Analysis for the 1st quarter of year 2024 4 environment, we reported a satisfactory performance in 2023 with revenue and core net profit of Baht 30,389.5

year affected to end user to delay their purchasing order from the retail store and therefore the distributor delayed ordering for their stock as well, together with the delivery plan were delayed to Q3

support the construction of Rayong branch. Moreover, there was increase in accounts payable from purchasing more variety of goods and other payable to support the investing in assets. 4 3. Shareholders

together with the increase in purchasing of goods and paying to suppliers. 2. Cash flow from (used in) investing activities The Company had cash outflow from investing Baht 44.85 million mainly from

factors have not yet been fully reflected in household purchasing power due to high levels of household debt. Consequently, the increase in household income is being partly used to repay debt, and so will