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

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

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

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

and Power Producing Company Limited (CHPP) also increased from Engineering, Procurement and Construction service (EPC) in Q2/2020. Q2/2020 VS Q2/2019 Q2/2020 VS Q1/2020 Adjusted Net Income in Q2/2020

producing and distributing electricity from waste fuel 75.009% of “GP1” investment was made to purchase additional 24,990 shares at par value of 10.00 baht and 1,224,509 shares at 2.50 baht from ZW POWER

for GPSC to grow with the company’s expertise in operating power and utility producing and distribution. Furthermore, GPSC relentlessly seeks for new investments in domestic and international arena with

% 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