comparing to September 30, 2018. These represented the Company’s book value per share at 17.91 and debt to equity ratio (D/E ratio) at 0.35 times. Cash Flow As at September 30, 2019, the Company had cash

31, 2019 because of the borrowing from financial institutions. The debt to equity ratio stood at 0.19 time and the current ratio was at 2.88 times. - The shareholders’ equity amounted to 1,427.88

Date : August 14, 2020 Subject : Management Discussion and Analysis for the Quarter 2/2020 To : Managing Director The Stock Exchange of Thailand Kuang Pei San Food Products Public Company Limited

debt to equity ratio (D / E ratio) at 0.34. Cash Flow As of March 31st, 2020, the Company had net cash generated from operating activities around 239.25 million baht, increased about 160.80 million baht

institutions. The Company saw the debt to equity ratio at 0.15 times and the current ratio of 1.55 times. The shareholders’ equity The shareholders’ equity stood at 1,517.83 million baht, decreasing by 28.68

decreased from the end of 2018 equal to 437.5 million Baht or 29.9 percent. Since the Company repaid the loan for financial institution, causing the Company having the debt to equity ratio equal to 0.80 times

requirement and additional capital conservation buffer) of 11% for total capital ratio, 8.5% for Tier 1 capital and 7.0% for Common Equity Tier 1 capital. The Bank performs capital management planning to

Adm Fina Net Management Jaymart Public es promotion ing Expense ministrative E ance Cost Profit Total Reve The Comp 3,066.8 m ratio at 17 baht highe The reaso 1. 2. 3. Gross Pro The Comp 2017 equa when

portion) 136 93 Long term debt (Non-current portion) 1,434 1,083 Debentures (Non-current portion) 2,091 1,806 Cash & Cash under management 353 165 Cash and cash equivalents 346 172 Current investments and

in retained earnings of 6,788 million baht. Consequently, Book value as of May 31, 2020 was 58.2 baht per share, decreased from that of 82.9 baht per share as of February 29, 2020. Debt to Equity ratio