, reprocessing them, and thus creating the circular economy. “We would like to express our appreciation to every party for the initiatives and projects for the environment and better future of our nation. It

had accounted for the fair value adjustment of the acquired business according to the accounting standards under WHA level. However, the genuine gross margin in the first quarter of 2018 was at 49.2

, the genuine gross margin in the third quarter of 2017 was at 57.6% for the warehouse rental and service business which decreased from 69.7% last year, mainly due to change in product mix between Built

Baht 50.38 million due to the Baht appreciation against JPY. The unrealized loss on exchange rate was mainly from revaluation foreign exchange rate in JPY of long-term investments. 5 | Padaeng Industry

appreciation to competitors, especially from Vietnam. - QSR business recorded its revenue of Baht 143.0 Million that 3.1% increased from 2018 or by Baht 4.2 Million, resulted from distribution channel

year 2019 increased 51.20 and 61.28 percent from the same period of last year. Main attribution is increasing in sales quantities from 2nd production line. The effect from Thai Baht appreciation and

from overseas sales resulting from Thai Baht appreciation against 3 major currencies (USD, EUR, and AUD) as main revenue structure. Cost of sales, cost of distributions and Administrative Expenses: For

of Baht 1,607.51 million or 82.20 percent. Cost of sales and services decreased due to the appreciation of the exchange rate and increasing production efficiency for both the leather and energy

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

differences in product mix and the gain from currencies appreciation as compared to same period of previous year. 3. Selling and Administrative Expenses For the second quarter of year 2017, the Company’s SG&A