(THIS REPORT DISCUSSES PRINCIPAL CHANGES ON THE REVIEWED CONSOLIDATED FINANCIAL STATEMENT) LH FINANCIAL GROUP PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR THE FIRST QUARTER ENDED 31

financial position for the fourth quarter and year ended December 31, 2019 with those of 2018. This report discusses principal changes in the audited consolidated financial statements. Overall market

performance and financial position for the second quarter and six months ended June 30, 2018 with those of 2017. This report discusses principal changes in the unaudited consolidated financial statements

performance and financial position for the second quarter and six months ended June 30, 2018 with those of 2017. This report discusses principal changes in the audited consolidated financial statements. Overall

first quarter ended March 31, 2020 with those of 2019. This report discusses principal changes in the reviewed consolidated financial statements. Changes in Financial Reporting Standards The financial

position for the first quarter ended March 31, 2020 with those of 2019. This report discusses principal changes in the unreviewed consolidated financial statements. Changes in Financial Reporting Standards

in lower than 15%. The Company does not report the transactions on assets acquisition and disposition of the listed companies. Therefore, Information Memorandum on the Entry into Connected Transaction

, the related transactions in lower than 15%. The Company does not report the transactions on assets acquisition and disposition of the listed companies. Therefore, Information Memorandum on the Entry

) securities underwriting business; (5) mutual fund management business; (6) private fund management business; (7) securities borrowing and lending business. Clause 4 In the case where a person having the

business; (5) mutual fund management business; 2 (6) private fund management business; (7) securities borrowing and lending business. Clause 4 In the case where a person having the following qualifications