challenging factors for future performance in 2020 whether the economic volatility and other challenges, which shall impact the Company's performance. The management, therefore, remains committed to the

the growth in sales of dessert cafés, which accounts for the largest share of revenue. The growth in sales of dessert cafés was mainly due to the improving COVID-19 situation and the recovery of

Page 1 of 10 Management Discussion & Analysis Q3/2024 1. Overview of Business Operations, Economy, and Industrial Conditions Affecting Operations In Q3/2024, Thailand's economic outlook shows signs

, Digital TV and Cable TV) which has the highest market share at 65.4% contracting 12.8% YoY to THB 17,226mn, followed by Traditional media (Newspaper, Magazines and Radio) which has 13.8% market share or THB

the lockdown measures both in domestic and foreign, resulting in the resumed economic activity. The government expenditure continued to expand both in current expenditure and capital expenditure. Those

in the past. As a result of this economic situation, the Company's revenue from sales and services increased by Baht 31.61 million from the same quarter of last year. The forecast of the minimum wage

“VGM Share Acquisition Transaction”) and to propose the same at the extraordinary general meeting of shareholders for consideration and approval. The Company would like to disclose additional information

THB. Financial structure The Company emphasizes the importance of efficient management of financial structure to be flexible in time of economic fluctuations and maintain the financial costs to be

health and esthetics. 2. Overview of operating results for the year 2019. Thai’s economic has trend to growing lower continuously, Not only exporting business but Travelling business also have trend to

amount. For the quarter, the market volume of energy drink industry in Thailand contracted by 13.4% while Carabao Dang energy drink remained the 2nd largest brand, commanding 21.4% volume share