from operation only accounted for 70.73 million. 2. Discussion of Financial Position 2.1 Assets As of September 30, 2019, total assets on consolidated basis amounted to THB 2,409.99 million dropped from

10.77% 10.34% + (-) For Year End Selling and Administrative Expenses For Year End 5 | MANAGEMENT DISCUSSION AND ANALYSIS FOR THE YEAR 2020 Financial Position As of December 31, 2020, total assets on

, total assets on consolidated basis amounted to THB 1,921.33 million dropped by THB 379.03 million from those as at December 31, 2019 primarily due to:  Cash and cash equivalent decreased by THB 224.66

208.40 60.81 29.18 Unbilled receivables 426.99 273.72 153.27 56.00 Inventories 14.35 135.92 (121.57) (89.44) Other current assets 11.21 6.85 4.36 63.58 Total current assets 723.47 660.11 63.36 9.60 Non

assets 13.15 6.85 6.30 91.93 Total current assets 832.60 660.11 172.49 26.13 Non-current assets Restricted bank deposits 32.95 20.79 12.16 58.48 Property, plant and equipment 527.97 357.14 170.83 47.83

19.59 9.72 9.87 101.53 Other current assets 15.63 13.16 2.47 18.87 Total current assets 786.51 805.17 (18.66) (2.32) Non-current assets Restricted deposit at financial institution 18.00 32.95 (14.95

5.6% 13.5% Gross profit margin = Gross Profit (Total Sales – Costs of Sales) to Sales Net profit margin = Net Profit to Total Revenues Debt to Equity = Total Liabilities to Total Equity Return on Assets

Equity Return on Assets (ROA) = Profit before financial costs and income tax to average Total Assets Return on Equity (ROE) = Net Profit to average Total Equity Yours faithfully, (Mr. Hiroaki Sano

in allowance of doubtful debt even though there was one-time administrative expenses as mentioned above. Statement of Financial Position Assets As at 30 September 2019, the Group had total assets of

Profit to Total Revenues Debt to Equity = Total Liabilities to Total Equity Return on Assets (ROA) = Profit before financial costs and income tax to average Total Assets Return on Equity (ROE) = Net Profit