trade and other current receivables with the amount of 0.12 million baht. Future Trends From the problem of making gross profit in accordance to the business plan, The company will continues to focus on

continues to be adversely affected by the change in sales mix towards lower gross profit margin products of home appliances such as air conditioners, refrigerators, washing machines and kitchen appliances etc

structure The Company continues to emphasize the efficiency of management of financial structure, be flexible in time of economic fluctuation and maintain financial costs to be appropriate for business

previous period. The Company’s products are well-received in the Philippines. Nevertheless, China export continues to dropping since last year The Company plans to improve sale channel in China this year and

trend we saw since 2018 although the competitive pressure continues to increase. Depreciation was in line with the same period last year and given that no major investments are planned this will be

the pandemic continues to prolong, and food delivery is on the rise, After You R&D team has been reviewing on our products and packaging designs that will allow the company to capitalize on the trends

control of selling and administration expenses by implementing cost reduction measures. Management Discussion & Analysis Q1/2021 Q1/2021 Management Highlights After You continues to renovate certain areas

the COVID-19 pandemic continues to affect private consumption and domestic tourism sector continued to decline. As of May 31, 2021, the Company’s total cards reached 9.25 million cards, including 2.98

% (y-y) in the first quarter. The main supporting factors were the return-to-expansion of export goods and private investment. On the other hand, the third wave of the COVID-19 pandemic continues to

2022 continues to be on track and is expected to be significantly better than that of 2021. Yours sincerely, (Mr. Yeap Swee Chuan) Chairman and President http://www.aapico.com/ http://www.aapico.com/