venture was renamed to Ratchada Alliance; which U City still holds 50% of the ordinary shares. The purpose of this JV is to invest and develop real estate projects for sale. MANAGEMENT DISCUSSION & ANALYSIS

Project 1.9 Profit sharing to minority shareholders of subsidiary company On Oct 1 2010, the company sold partial investment in a subsidiary company to Japanese alliance, Mory Industrial Inc., As of 31st

non-controlling interest of a subsidiary company On Oct 1’ 2010, the company sold partial investment in a subsidiary company to Japanese alliance, Mory Industrial Inc. The Company and its subsidiaries

operating profit. 1.9 Profit Sharing for non-controlling interest of a subsidiary company On Oct 1’ 2010, the company sold partial investment in a subsidiary company to Japanese alliance. The Company and its

company On Oct 1’ 2010, the company sold partial investment in a subsidiary company to Japanese alliance. The Company and its subsidiaries recognized profit sharing to minority shareholders according to the

the reporting person; and (3) Person under Section 258 of the concert party. 2 When reporting the acquisition of convertible securities, please state the number of units for all types and series of

concert party. 2 When reporting the acquisition of convertible securities, please state the number of units for all types and series of convertible securities (if there are several types, combine the

twork Serv he financial second qua or, the resu ance he Compan ancial state econd quar ng of net p eceivables. which was h margin stoo from collec be describe bts n of eivables ed income 017 cussion and

27.6 2,364 89.8 1,742 Analysis, 2nd Q nd (“the Compa ancial statem ending 30 J marized as f nancial state cond quarter erformance o the six-mont x-month per the second r was as a re e performanc roperty

is in line with the increase in sales of set-top box while in 2Q16, the Group had revenue from the TOU Meter procurement project of a state-owned enterprise, which had a low gross margin. Related