number of customers, to increase the opportunity to reach target customers comprehensively. Significant Event a n d B u s i n e s s D i r e c t i o n : Trends of the restaurant business in Thailand

margin in Q3/2024 was 65.4%, slightly decreased from 66.0% in Q3/2023, due to the increased proportion of revenue from sales through Modern Trade channels, which have a lower gross profit margin compared

(BGRIM) at “A” with “stable” outlook. The rating reflects the company’s position as one of the leading private power producers in Thailand, its well-diversified portfolio of cogeneration power units under

Imports of Alloy Steel and Galvanized HRC into Thailand due to strengthening of Thai Baht and removal of Safeguard duties on Alloy Steel in February 2019. The total shipment volume dropped by 40% and

future projects. In terms of the progress on Delisting Tender Offer of GLOW, the process was completed on 2 December 2019 and GLOW has been delisted from being listed on the Stock Exchange of Thailand on

1 Zen Corporation Group Public Company Limited 662 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02-0195000 10 August 2020 No. ZEN 2563-016 Subject Management Discussion and Analysis for the

. Meanwhile, domestic branded sales slightly increased.  Net loss in Q2/2018 was Baht 15 million, a decrease due to 1) a one-time cost of financial advisory fees and legal consultant fees of Baht 22 million

with the budget approved by shareholders. Issuance of corporate bonds and the first green and climate bonds in Thailand In October 2018, BGRIM issued senior unsecured and unguaranteed debentures in an

and China. Thai economy outlook in 2020 is expected to grow under its potential, the Bank of Thailand estimates GDP growth at 1.5% to 2.5% from a slow pace of export, the drought circumstance and corona

still in downturn from the trade war between USA and China that continues to escalate as well as unclear situation of BREXIT. Thailand economy continues to slow down from the previous quarter, contributed