the company managed to reduce the cost of raw material to be cheaper that the same period last year. Selling and Administrative Expenses For the six-month period ended 30 June 2019, the Company’s

February 24, 2020 Subject: Management Discussion and Analysis For the year ended December 31, 2019 To: The President, The Stock Exchange of Thailand Home Pottery Public Company Limited (“The Company

for the Company : • The Company will reduce debts from such divestment of YLP, i.e. - Outstanding debts of PFR owed to the Purchaser 348,567,548 Baht - Outstanding debts of YLP owed to Kasikorn Bank

existing outlets and the Company was able to reduce selling expenses and increase of operation efficiency. 3/3 Oishi Group Financial Position as of September 30, 2019 Assets Total assets as of September 30

credit term from 45 days to 60 days, which helped the Company reduce usage of short-term loans to pay trade creditors. The Company’s short-term loan, therefore, decreased by THB 19.40 million (-6.02

competitors, and the company apply cash sale to reduce risk from account receivables Other income In 2019, the other income were 9.61 million baht, increased by 60.38 % from the previous year (being reported at

Company will reduce further its debts by repaying to the financial institutions. In addition, the fund from the newly share capital increase including the issuance of warrant will be used for future

well. However, if the Company can transfer the remaining backlog residences of MHNK project to the customers and recognize continuously the revenues as planned, the Company will reduce further its debts

for manufacturing costs. However, the Company could manage to reduce the percentage of revenue and cost of sales comparing to the same period last year. Selling and Administrative Expenses For the

that this transaction is reasonable. Because it is in accordance with the policy and strategy of the Company that wants to reduce the production and distribution of products with low gross profit margin