cost and fuel cost) (meaning total expenses from the standalone financial statements net loss on sales of investment, loss on sales of leasehold right and fuel expense) divided by ASK.

(59.64) -13.5% Cost 348.48 384.03 Gross profit 34.96 59.05 (24.09) -40.8% Gross profit margin 9.1% 13.3% Other income 1.04 0.14 0.90 Selling & Admin expenses 28.14 33.31 (5.18) -15.5% 7.3% 7.5% Finance

additional facts and the study results of the changed cost structure. It was found that the continuation of the project on the basis of the existing guidelines could result in offering no benefit to the

32.7%. The change was due to expense related to staff cost. For the year ended 31 December • The Company has revenue from sales in amount of Baht 1,806.55 million, increased from the same period of last

%YoY Revenue from sale of goods 227.23 268.16 263.47 15.95% -1.75% 482.10 531.63 10.27% Cost of sale of goods (153.83) (172.39) (164.79) 7.12% -4.41% (339.26) (337.18) -0.61% Gross profit 73.40 95.77

have been reviewed and audited by a Certified Public Accountant. Details of the calculation are summarized below: The Calculation of the transaction 1) Net tangible assets method Transaction Size = Net

/ offering unit / total principle amount / par value per unit / offering price per unit etc. Credit Rating………………………………………………………………… Financial Adviser…………………………………………………………… Underwriter

export market (Government to Government) and domestic market and also selling price adjustment to trade, regarding to raw material cost increase. • Total expenses increase 61% are mainly reflected by

is the main customer of the company resulted in non-achievable to the sale target. Other incomes for 2019 are 2.86 million baht with no significantly transaction changes. 2. Cost of sales , Profit

Baht % 2020 2019 Thousand Baht % Total revenues 446,873 420,156 26,717 6.4 438,752 407,391 31,361 7.7 Sales and service income 443,248 417,617 25,631 6.1 434,077 404,533 29,544 7.3 Cost of sales and