of changes in this report are based on the adjusted accounting policy and reclassification 1 Backlog include only sold units with sales and purchase agreements 2 Calculated from interest-bearing debt
asset to generate revenue and it is only a place to run a business, which the Company can change to other locations. Also, the Company’s main income-generating asset is personnel. The Company is currently
accounting policy and reclassification 1 Backlog include only sold units with sales and purchase agreements Management Discussion & Analysis ( - translation - ) For operating result of 4Q/2019, ended 31
increased by 69.85% from the average selling price in 1st quarter of 2019. Currently, Company only sell to some industrial customers, which entered into short-term contract with specific quantities and
penetration, where currently, the products are available only at certain stores of Villa Market, Gourmet Market and Tops Market. The Company aims to start the operation of the Hong Kong branch as soon as
increased by 406.13% from the average selling price in 2nd quarter of 2019. Currently, Company only sell to some industrial customers, which entered into short-term contract with specific quantities and
quarter of 2019, and the average selling price was increased by 40.04% and total sales of Edible oil decreased by 41.52% from the average selling price in 3rd quarter of 2019. Currently, the Company only
by 55.09% from the average selling price in 2019 and total sales of edible oil increased by 27.32%. Currently, the Company only sell to some industrial customers but in some quarters did not receive
oil decreased by 53.84%. The existing customers had reduced order in line with the impact that they experienced from the COVID-19’s new wave of outbreaks. Currently, Company only sells to some