same period last year. This resulted from the government measures to control the COVID-19 pandemic, by temporary closure of stores in Fashion and Hardline segments while Food segment were impacted by

expenses and layoff. Therefore, our business has been affected in every segment, particularly fashion in Thailand and Italy. Promotional activities, new campaigns and discounts as well as co-promotions with

December 31, 2019 To The President The Stock Exchange of Thailand Management’s Discussion and Analysis Consolidated Financial Statements For Year Ended December 31, 2019 Overall Group Performance Table 1

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: The President The Stock Exchange of Thailand Aapico Hitech Public Company Limited (“the Company”) would like to clarify the consolidated financial statements of the Company for the fiscal year 2019

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Microsoft Word - 2020-Q1_MDA_Eng_R0.docx   No. CAZ 010-2020 11 May 2020 Subject: Management Discussion and Analysis for the 1st Quarter ended 31 March 2020 Attention: The President, The Stock