debt and low agricultural prices continued to have an adverse effect on purchasing power. Tourism has been dampened by the deterioration in Chinese tourist arrivals during the first half of 2019. The

Net Profit Margin (%) 2.17 2.34 2.02 Current Ratio (Times) 1.33 1.34 1.33 Debt to Equity Ratio (Times) 2.27 2.16 2.26 Book Value per Share (Baht) 2.11 2.16 2.16 Net Profit per Share (Baht) 0.40 0.46

Net Profit Margin (%) 2.17 2.34 2.15 Current Ratio (Times) 1.33 1.34 1.36 Debt to Equity Ratio (Times) 2.27 2.16 2.09 Book Value per Share (Baht) 2.11 2.16 2.09 Net Profit per Share (Baht) 0.40 0.46

Current Ratio (Times) 1.33 1.34 1.43 Debt to Equity Ratio (Times) 2.27 2.16 1.79 Book Value per Share (Baht) 2.11 2.16 2.22 Net Profit per Share (Baht) 0.40 0.46 0.45 Yearly Management Discussion and

to remain fragile as overall purchasing power has not yet recovered, and household debt remains at a high level. The operating result of the Company in this quarter is still in line with the plan

marketing strategies in order to seek more non-hazardous waste put into the RDF process as well as to improve the sales planning by seeking more buyers such as cement factory, power plant etc. At present, the

Net Profit Margin (%) 2.33 2.40 2.36 Current Ratio (Times) 1.34 1.43 1.35 Debt to Equity Ratio (Times) 2.16 1.79 2.17 Book Value per Share (Baht) 2.16 2.22 2.15 Net Profit per Share (Baht) 0.46 0.45

energy business incurred a gross loss because the company sold rooftop solar power to tenants of building space within the Wincoast Industrial Park as Page 3 of 4 only one project, capacity 0.75 megawatts

-2338-3000 Fax: 0-2338-3334 www.nationgroup.com 25 May 2020 Subject : Notification on Resolution of the Board of Directors’ Meeting No. 6/2020, Change of Directors and Directors’ Power, Entering into

from 25.2% to 44.7% due mainly to the fact that WHART solely used the debt funding from financial institution which is deemed lower cost of fund compared to the fund raised from investors to acquire the