second quarter of 2018. Costs of program rights business mainly consist of amortization, dubbing and translation costs. For the six-month period ended 30 June 2019 and 2018, costs of program rights

the previous year due to an unfavorable condition of the Company’s traditional trade channel as the Company appointed a large-sized distributor for the channel since the first quarter of 2018 but later

majority of selling expense was sale personal expenses and logistic expenses. This year, the Company and its subsidiaries have no obligation to reserve doubtful debt as in the first quarter of the previous

same period of a year earlier. The main reasons was the regular increase in sales and administrative expenses while gross margins amount stay flat in the current quarter, despite higher in sales but

AIM 1 Ref.: EFORL IR 043/2018 November 14, 2018 Subject: Management Discussion and Analysis for the third quarter of 2018 (Q3/2018) and for nine month periods ended September 30, 2018 To President

the Company has increased distribution channels to export content since the second quarter of 2018. Costs of program rights business mainly consist of amortization, dubbing and translation costs. For

from sale of investment properties to WHABTin the first quarter of 2019. Furthermore, the gross profit margin stood at 19.8%, however if considering the gross profit margin from asset monetization to

maintain financial flexibility amidst of crisis as well as long term sustainable growth as follow In the first quarter of 2020 (1Q2020), Central Retail Corporation Public Company Limited and its subsidiaries

Page 1 from 5 Management Discussion and Analysis Performance for Quarter 2/2020 and the first half WICE Logistics Public Company Limited Performance Unit : million baht Statement of financial

export content since the second quarter of 2018. 2. Summary of operating results by business type - Translation - JKN GLOBAL MEDIA PUBLIC COMPANY LIMITED Management Discussion and Analysis of the Company’s