) completely and also certified the standard on Waste Process Enhancement Project for waste management operator in the gold medal level. For the real estate business, the Company was the sales amount from the

business, most of the revenue come from condominium project and commercial building project. Genco and its subsidiary have signed agreements to sell their piece of land and both agreements are due in Q3/2018

period of the previous year, mostly from Gross profit of UAPC increased Baht 30.15 million. Gross profit margin decreased due to the higher competition in Trading business resulted in - Gross profit margin

1 Translation CEN 013-2019 August 14, 2019 Subject Management discussion and analysis for business operation Quarter 2-2019 To The Manager and President The Stock Exchange of Thailand Operating

which increased from December 31, 2019 by 40.4 MB as a result of the increase in cash and cash equivalents by 12.9 MB, the increase of trade and other receivables by 0.3 MB, increase in inventory by 17.9

the Company, the “Group”. Business categories by 12 mo. Ended 31 Dec. % Change 2018 2017 THB Mil % THB Mil. % Sales 1. Sales from dessert café Company 838.23 95.17 704.29 95.77 19.02 2. Catering/ OEM

1 Translation CEN 015-2019 November 14, 2019 Subject : Management Discussion and Analysis for business operation in Quarter 3-2019 To : The Manager and President The Stock Exchange of Thailand

740.3 MB which increased from December 31, 2019 by 9.9 MB as a result of the increase in cash and cash equivalents by 3.5 MB, the decrease of trade and other receivables by 8.7 MB, increase in inventory

19.28% from the corresponding period of the previous year, derived from business expansion and unrealized loss on exchange rate at the amount of Baht 11.01 million and from reserve for impairment of

Trading increased Baht 49.32 million 2. The higher competition in Trading business resulted in gross profit of Baht 109.18 million which decreased Baht 17.83 million or 14.04% from the corresponding period