consisted of the Chaloem Ratchamongkhon Project ( Hua Lamphong Station - Bang Sue Station) , currently operated and the MRT Blue Line Extension Project (Hua Lamphong Station - Lak Song Station and Bang Sue

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

non-controlling interests decreased 10,779 million. Capital structure As of 31 March 2020, the Company's capital structure comprised of total liabilities of THB 200,587 million, which included interest

. However, The Hotel temporarily close due to COVID-19 effected revenue from hotel operations portion decreased. The following table shows the total revenue structure by business type according to the

structure The Company continues to emphasize the efficiency of management of financial structure, be flexible in time of economic fluctuation and maintain financial costs to be appropriate for business

% Food Delivery & Catering, 11.1% Sales of Raw Material, 5.7% Retail Merchandise, 2.0% Revenue from Sales of Goods, 96.2% Total Revenue Structure 1st Quarter 2021 4 Zen Corporation Group Public Company

% 622.35 100.00% -23.53% Revenue from transmission and telecommunication tower + (-)For the 3-month Period For Quarter 2 Year 2020 (Million Baht) Revenue structure + (-) For the 6-month Period 2020 % of Sale

and hospitality business. Page 7 of 7 Management Discussion and Analysis 2018 Financial Position and Capital Structure As at 31 December 2018, the total assets were 58,930 million Baht, increased by 44

Capital Structure As at 31 March 2019, the Company reported total assets of THB 62,978m, an increase of THB 4,048m from 31 December 2018, including THB 22,227m Current assets and THB 40,751m Non-current

2Q18 as gain from fair value adjustment of investment property. Page 7 of 7 Management Discussion and Analysis 2Q2019 Financial Position and Capital Structure As at 30 June 2019, the Company reported