% 43 60 38% Gross profit margin 45% 55% 54% (1%) 9% 45% 54% 9% 1H/2017Q2/2017 Change +/(-) 1H/2016Q1/2017Q2/2016 2.4 Combine Heat and Power Producing Company Limited (CHPP) : VSPP Unit: THB million 12

during Q1/2017 and there was the shutdown for commissioning in Q3/2017. 17 Management Discussion & Analysis (MD&A) Q3/2017 Management Discussion & Analysis Combine Heat and Power Producing Company Limited

from Ichinoseki Solar Power 1 GK (ISP1) and the decrease in revenue of solar cell implementation service from Combine Heat and Power Producing Company Limited (CHPP) following the existing projects. The

due to the decreased in revenue from solar cell implementation service from Combine Heat and Power Producing Company Limited (CHPP) as well as the decrease in revenue from chilled water following the

solar cell implementation service from Combine Heat and Power Producing Company Limited (CHPP) as well as the increase in maintenance cost leading to a fall in gross profit. The gross profit of the

Construction contract service (EPC) income of Combine Heat and Power Producing Company Limited (CHPP) as well as the increase in selling electricity of Ichinoseki Solar Power 1 (ISP1). However, the cost of sales

acquisition completion on 26 March 2020 and increased revenue from electricity sales of Ichinoseki Solar Power 1 GK (ISP-1) due to higher light intensity than in Q2/2019. Besides, other income of Combine Heat

million mainly due to the decreased in revenue from Combine Heat and Power Producing Company Limited (CHPP) by Baht 19 million as a result of the lower revenue from solar cell implementation; despite the

that of 2019, as specified in the Power Purchase Agreement. In addition, the Combine Cycle Power Plant unit 3 had planned maintenance shutdown (Major Overhaul) from June 7 to July 28, 2020. (2) Revenue

started commercial operation on 30 December 2016. 18 ผลประกอบ การบริษัท Combine Heat and Power Producing Company Limited (CHPP) : VSPP Combine Heat and Power Producing Company Q4/16 Q3/17 Q4/17 Change