average user spending on digital content services as Thailand's sluggish economy has mainly reduced consumer purchasing power causing service users to become more cautious about their spending. In addition

significantly increased from Q3–2023. This is because the number of delivered projects in Q3–2024 has increased, especially those with delivery values of 10 million baht or higher. The large projects delivered in

amortization of intangible assets arising from the purchase of investments in associate companies and the result of associate companies’ delayed revenue recognition due to the delay in delivery of work

competition and a decrease in crude palm oil price regarding to supply glut. However, the company has been improving the inventory management to be more efficient since the second half of 2018, resulted to the

purchasing power of mid-to-low labor segment. Furthermore, the drought season also decreases incomes of agriculture workforces, and as a result, FSMART (or the “Company”)'s total usage amount decreased

revenue from the core business in 2Q2020 was Bt666.61mn, decreasing 17.1% YoY, mainly from a decrease of the middle-to-low income population’s purchasing power due to drought and Covid-19 pandemic, as well

purchasing power has still not recovered. This is reflected in the consumer confidence index which remains at very low levels, with consumers remaining concerned over high levels of household debt and their

competitors’ kiosks, and the economic slowdown, which affects middle-to-low income population’s purchasing power. The details of total revenue are as follows: 1) Income from rendering of top-up service for

. Sales in 1Q18 represented new prices for delivery that took effect in January 2018 with an effective markdown of nearly 2%. Cost of Sales and Gross Profit The profit margin in 1Q18 dropped Q-o-Q and Y-o-Y

main factors for the increase were (1) the increased in marketing expenses and (2) increased in spending on delivery services fee such as Food Panda. Administrative Expenses Administration costs