shut down, causing impairment of the trademark and goodwill. Company is going through the process of changing business strategy to respond with the intense competition in an industry and rigid

specialized in Brand Strategy Planning, Customer Experience Management and Digital Marketing I&I Experience Company Limited (the subsidiary) was established on June 25, 2019. The main business is to provide

million or by 29% year-on-year results from effective ‘rightsize’ strategy of the Company that initiated during the previous quarters. However, SG&A to sales at 152%, increased from the previous year at 42

way to response the strategy for “CONVENIENT ECONOMY” the Company has expanded the customer base to both online and off line market for customer’s convenient. Additionally, the company has extended the

the lockdown is lifted and get aligned to normalization and continue to retain its market share as explained in the rationale section and thus continue to promote IVL’s strategy in Home & Apparel

new clients in the COVID- 19 situation is quite difficult. The managements and team brainstorm for strategy how to propose work that is suitable for the COVID-19 situation as the alternatives to the

1 | MANAGEMENT DISCUSSION AND ANALYSIS FOR Q1-2020 Management Discussion and Analysis Q1-2020 14 May 2020 KEY EVENT IN Q1-2020 After UWC announced a corporate and business strategy restructuring in

Company as of May 12, 2020. 3. The Board of Director has approved the appointment of Mr. Chen, Wei-Chang as the Company’s Chief Strategy Officer. 4. The Board of Directors had approved the related

increasing in Bank overdraft and short-term borrowings from financial institution due to support revenue growth. In conclusion, the Company operates with our corporate strategy to balance its business units by

acquisition strategy and ongoing efforts to maintain market share and raise awareness of 5G. Expanded leadership in 5G 2021 was the year that AIS focused on expanding its 5G network. By the end of 2021, our 5G