corresponding period of the previous year, derived from recording interest income separately from revenue from sales (financing component separation) at the amount of Baht 7.83 million and then gradually

of hospital operations 257.36 226.88 13% Gross margin 125.57 86.97 44% % Gross margin 33% 28% 5% Administrative expenses 47.84 35.48 35% Earnings before interest, taxes and depreciation 105.66 75.92 39

million for the year 2019, consisting of interest income from loans to joint ventures amounted to THB 112.0 million, other income, realized gains in exchange rate and Project CROSSROADS management fee

in this quarter stood at 47%, improved from 40% in 1Q17 and 46% in 4Q17. Other Income Other income constitutes interest income and non-operating income, e.g. gain from exchange rate, gain from fair

of exchange rate. 5. Distribution Expense and Administrative Expense decreased by 7.30 million baht (from 110.78 million baht in 2019 to 103.48 million baht in 2020) because the company has a policy to

 exchange rate. Quarter Quarter % THB '000 Q118 Q117 Q118‐Q117 Q118‐Q117 PCBA (Lamphun, Thailand) 2,242,565            43% 1,949,694             38% 292,871                15% PCBA (Jiaxing, China) 813,220

rate, one-time income/expense, in the 3Q16 and 3Q17 performance, EBT in 3Q17 would have declined by 449% YoY, reflecting higher financial costs (interest expenses) from convertible bonds worth US$180mn

margin 28% 28% 0% 31% 28% 3% Administrative expenses 51.50 38.13 35% 99.34 73.61 35% Earnings before interest, taxes and depreciation 80.87 80.09 1% 186.53 156.01 20% % Earnings before interest, taxes and

33.9 mil. baht to 27.1 mil. baht due to no income from Bangna warehouse in which the process of getting new tenant is in progress. Dividend income from investment and interest income maintained at the

general patient decreased. However Social security revenue of subsidiaries increased due to the increase of the basic capitation payment rate in year 2020. 2. Cost of hospital operations & Administrative