resulted from increase in raw material inventories and deferred short term liabilities payment at the beginning of 2020. Liabilities As of December 31, 2019, the company, reported total Liabilities of Baht

Public Company Limited Management Discussion and Analysis Year Ending 31 December 2019 G J Steel Public Company Limited Page 11/14 The main raw materials (Pig iron, shredded scrap) the price movement of

sales and services. - Inventories increased for Baht 5.73 million, during quarter 1/ 2017, the Company had a order to be used for the production of raw materials to customers increased. - Investment in

Company had order to be used for the production of raw material to customers increased. - Investment in associated company increased for Baht 9.31 million, occurring from realizing of profit sharing in

Profit 63.3 51.0 12.3 24.1% Net Profit/(Loss) for the period (24.9) (47.8) 22.9 (47.9%) Net Profit/(Loss) from the period attribute to equity holders of the Company (24.8) (45.9) 21.1 (46.0%) Revenue

2018_Q2_MDA_ENG Ocean Glass Public Company Limited Page 1/2 Management Discussion and Analysis Operating Results In the 2nd quarter of 2018, Ocean Glass Public Company Limited and Subsidiaries (“the

2018_Q3_MDA_ENG-Rev Ocean Glass Public Company Limited Page 1/3 Management Discussion and Analysis Ocean Glass Public Company Limited Management Discussion and Analysis Consolidated Financial Results

GJS บริษัท จี เจ สตีล จำกัด (มหาชน) G J Steel Public Company Limited Management Discussion and Analysis Q1/2020 G J Steel Public Company Limited Page 1/13 Management Discussion and Analysis Q1/2020 1

Company and subsidiaries established the cost efficiency projects to optimize the production cost, waste management and tighter control of purchasing raw material to in- line with reduction in sales and

of an increased in raw material cost is greater than an increased in HRC market price. The company expects the lower of production and sales due to the slowdown of Tolling during Q4/18. The company