, high level of capacity availability, and significant advances in the consistency of our products. Parallel a shift is taking place in the corporate culture, that our improved health and safety record

cannot generate revenue immediately; some investments are not fully utilized or have not reached an optimal level yet; and some projects are delayed. Thus, costs per unit climbed up at this point; 4

Analysis (MD&A) 3 Q2/2020 Operating Results Overall operating results of the Company and its subsidiaries (unit: THB million) Q2/19 Q1/20 Q2/20 change +/(-) 6M/19 6M/20 Change +/(-) YoYYoY QoQ Operating

at the end of Q4/2019, thus the Company expects gross profit margin from sales to get back to a normal level in Q1/2020. • In Q4/2018, there were one-time reversal expenses of Baht 83.9 million from

measures. The exports sector fell sharply affected by weakening trading partner demand. These factors resulted in an increase in the unemployment rate to 2% in the second quarter of 2020 and the high level

. 5. Net profit and net profit margin Although the Company encountered the low economic growth rate, the Company was able to maintain 2Q17 net profit of Baht 20.89 million, which was the same level as

expanded, the price of agricultural products remained low, and the level of household debt remains high. Thus, sales in the third quarter did not meet the target. However, the Company continued to undertake

first five months of 2017 totaling 14.3 million, a 2.7% growth 3) Agricultural sector also improved from the increased in global agricultural prices and sufficient water level led to favorable farming

six months of 2017 totaling 17.3 million, a 4.4% growth 3) Agricultural sector also improved from the increased in global agricultural prices and sufficient water level led to favorable farming

in the export and tourism sectors 3) Low level of inflation - impacting manufacturers ability to determine pricing and 4) Strengthening of the Thai Baht - 6.7% against the US Dollar since the beginning