(THIS REPORT DISCUSSES PRINCIPAL CHANGES ON THE REVIEWED AND AUDITED CONSOLIDATED FINANCIAL STATEMENT) LH FINANCIAL GROUP PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR THE SECOND

. In 3Q18, the Thai economy extends its growth momentum following the GDP expansion by 4.6% in 2Q18. The growth is attributed to a number of factors, namely 1.) strong export growth despite a slight

, travelling expenses and professional fees. In 2018, the increase in administrative expenses are mainly due to (1) increase in employee and management expenses from new hires supporting business expansion of

Ref. AU 011/2017 - Translation - 11 August 2017 To: Director and the President The Stock Exchange of Thailand Management Discussion and Analysis for the three-month and the six-month period ended 30

1 Zen Corporation Group Public Company Limited 662 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02-0195000 8 August 2019 No. ZEN 2562-021 Subject Management Discussion and Analysis for 2nd

to lower contribution from GHECO-One. Other Income 2018 2019 Increase/ (Decrease) THB mm THB mm % Dividend and Management income 399.6 540.7 35.3% Others 309.0 436.4 41.2% Total other income 708.6

to continuous increase in Equity MW from Small Power Producer (SPP) capacity expansion serving increase in demand of Industrial customers of approximately 5%. The main distributions were from GNLL

MD&A Q2Y2018 (E) -14.8.61(6.25PM) Ratchabur i Electr icity Generating Holding PCL Management Discussion and Analysis For the Three-month and Six-month Per iods Ended 30 June, 2018 Management

enter an expansion phase again. Golden Lime Public Company Limited 4 MANAGEMENT DISCUSSION AND ANALYSIS FOR PERIOD ENDED 30 JUNE 2020 3. Financial highlights (based on Thai FRS) Q2 2020 Income statement

(THIS REPORT DISCUSSES PRINCIPAL CHANGES ON THE UNREVIEWED AND UNAUDITED CONSOLIDATED FINANCIAL STATEMENT) LH FINANCIAL GROUP PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR THE THIRD