issued shares to the private placement investor will strengthen the long-term financial structure and the debt to equity ratio of the Company by increasing more financial flexibility for future project and

and individual investors with a stable financial position who are able to invest in the Company to support and increase the liquidity of the Company. The offering price of the newly issued ordinary

Management Discussion and Analysis For the Financial Result of Quarter 1 Year 2019 Ended March 31, 2019 Note: This Management Discussion and Analysis (MD&A) was made to disclose information and the

Microsoft Word - MD&A_Q3'2019_E Management Discussion and Analysis For the Financial Result of Quarter 3 Year 2019 Ended September 30, 2019 Note: This Management Discussion and Analysis (MD&A) was

control policy of the Company, which includes employee-related expenses, and the rental cost which resumed since Q2/2020. Q3/2020 Key Financial Highlights *EBITDA Margin and Net Profit Margin are calculated

% 17.1% 20.1% Return on asset (ROA) 4.6% 4.4% 5.0% 6.5% 7.7% Interest bearing Debt / Equity (IBD/Equity) 0.9 0.8 0.8 0.8 0.8 Return on equity (ROE) and Return on assets (ROA) as of Q4 2022 were at 20.1

debt-to- equity ratio declined from 0.17 times to 0.13 times (based on the Company's financial statements ending June 30, 2017). 6.3 The capital increase used in the flexible packaging business Phase 2

tangible asset of the Company from the consolidated financial statement = (THB 591,338,795.54 x 50.0 percent) x 100 / THB 1,574,050,588 = 18.78 percent 2. Net profit = Net profit from the operating result of

Calculation Formula 1. Net tangible asset value = (Net tangible asset of Hello LED x the acquired portion) x 100 / Net tangible asset of the Company from the consolidated financial statement = (THB

financing to repay and reduce interest expenses and as a result, the debt-to- equity ratio declined from 0.17 times to 0.13 times (based on the Company's financial statements ending June 30, 2017). 6.3 The