settlement through Thailand Securities Depository Co., Ltd. or securities companies. 2. Relaxation of Rules for Branch Opening of Securities Companies To increase operational flexibility, revenues and

%, correspondingly. Such reduction in gross profit margin was caused by change in product mix, rise in production costs and increase in packaging cost purchased from external party. Gross profits margin from domestic

at THB 6,717 mn, an increase of 7.3% YoY). The rise in cost is higher than the increase in revenue and comes from the following factors. • Utility costs, a major component (accounts for approximately

decrease in total revenue 3.4% and can be summarized as following table. Description Total Revenue (MB) Y-O-Y Change Increase/(Decrease) Note 2016 2017 Sales 919.8 882.2 -4.1% The sales volume decreases as

and Q2/2018 respectively, An increase in total revenue 20.4% and can be summarized as following. Q-O-Q Change Q2/2017 Q2/2018 Increase/(Decrease) Sales 196.4 240.8 22.6% The sales volume increases as

% Management service 1.1% Other income 1.2% Hotel Property development Food and beverage Management service Revenue from property development operations through sales of residential projects in both low rise and

recognized in accordance with Matching Principle. It will rise or fall commensurate with rise or fall in revenue from sale of properties. Gross margins for the 3-month period ended 31 March 2018 and 2019 were

accordance with Matching Principle. It will rise or fall commensurate with rise or fall in revenue from sale of properties. Gross margins for the 6-month period ended 30 June 2018 and 2019 were 41.55% and

and Q1/2018 respectively, A decrease in total revenue 28.8% and can be summarized as following. Q-O-Q Change Q1/2017 Q1/2018 Increase/(Decrease) Sales 274.7 189.1 -31.2% The sales volume decreases as

margin was caused by change in product mix, rise in production costs and increase in packaging cost purchased from external party. - Translation - Page 4 of 6 Gross profits margin from domestic sales was