-3 years, yet not being fully utilized nor gaining benefit from the economies of scale particularly in the glass-bottle manufacture and bottling plants had caused the rising in cost per unit of branded

shareholders, directors, management, or controlling persons) Purchases of goods - 7,980,554 Kabinburi Glass Industry Co., Ltd. Other payables - 22,936 Purchases of goods. (Related parties of the Company served

utilization rate to available capacity, and eventually a higher cost of goods produced and low margin. To offset a slowdown in orders, the Company reduced costs by obtaining better sources of raw materials

the growth in accordance with business plan for over the next 2-3 years, yet not being fully utilized nor gaining benefit from the economies of scale particularly in the glass-bottle manufacture and

formulation optimization. During the year, the Company has utilized IPO proceeds to invest as planned. The new glass factory (SGA2) has completed in Q3’19 and started commercial operations in Oct’19. This

currency exchange rate and an increase in the cost of goods sold. The higher cost of goods sold was due to an increase in the production of new high-technology products, such as the special grade PCB (HDI

and Y-o-Y due to the effect of a change in foreign currency exchange rate and an increase in the cost of goods sold. The higher cost of goods sold was due to a decrease in production capacity

deliverables are lower raw material and packaging costs, packaging optimization, new lighter weight bottles, and more formulation optimization. The new glass factory (SGA2), whose furnace has heated up in August

. Whereas, key raw materials for production of amber glass bottle include cullet, soda ash, sand, and other raw materials. The two components combined make up to 70% of total cost of goods sold where sugar

, the THB depreciation and a decline in the price of copper used in the production process helped reduce the cost of goods sold (Table 2). Administrative and Selling Expenses Selling, general, and