appreciation to competitors, especially from Vietnam. - QSR business recorded its revenue of Baht 143.0 Million that 3.1% increased from 2018 or by Baht 4.2 Million, resulted from distribution channel

year 2019 increased 51.20 and 61.28 percent from the same period of last year. Main attribution is increasing in sales quantities from 2nd production line. The effect from Thai Baht appreciation and

from overseas sales resulting from Thai Baht appreciation against 3 major currencies (USD, EUR, and AUD) as main revenue structure. Cost of sales, cost of distributions and Administrative Expenses: For

of Baht 1,607.51 million or 82.20 percent. Cost of sales and services decreased due to the appreciation of the exchange rate and increasing production efficiency for both the leather and energy

supported by an increase in capacity from the investment in Phase 3 at the new plant, and the appreciation of the Baht. Cost of Sales and Gross Profit The profit margin increased slightly Q-o-Q, but dropped Y

differences in product mix and the gain from currencies appreciation as compared to same period of previous year. 3. Selling and Administrative Expenses For the second quarter of year 2017, the Company’s SG&A

to sales volume growth that was supported by an increase in capacity from the investment in Phase 3 at the new plant, but mainly offset by the appreciation of the Baht. Cost of Sales and Gross Profit

previous year. Sales and services of Q3 2017 reached 1,439.36MB, an increase of 17% from 1,230.68MB in Q3 2016. This mainly resulted from a 31% increase in USD zinc price despite a 4% appreciation of Thai

sales volume has risen up continuously but the export income was directly affected to be reduced from Thai Baht appreciation rapidly and tremendously. However, the company has protected the risk of loss

2018, HPC recorded gain on exchange rate in the amount of Baht 481.61 million, due to the appreciation of USD currency. In contrast, during the year 2019, HPC had adopted accounting policies for