to 4.74% in 2019. The increase of gross profit margin was mainly due to differences in product mix and the impact derived from adoption of USD as the Company’s functional currency which in resulting of

sales was 1,711.86 million Baht or at 95.29% of revenue from sales which increased from 93.65% of year 2017 due to higher energy costs and product mix. 3. Selling and administrative expenses increased

mainly due to the followings: (a) Lower contribution margin recorded resulted from unfavorable model mix; and (b) Higher tax expense recorded during the 3-months period ended 30 April 2019 by Baht 2.82

444.9 million Baht or at 93.39% of sales which decreased from the 3rd quarter of last year of 102.32% and decreased from the last quarter of 95.17% and that was due to product mix and improving in yield

Baht or at 104.43% of revenue from sales which increased from 95.29% of year 2019 due to higher production costs and product mix. 3. Selling and administrative expenses was 96.17 million Baht which

lower Gross Profit Margin from 34.9 % in Q2/2019 to 34.3 % in Q2/2020 resulting from a higher related freight charges added to production costs and an unfavorable product mix; - SG&A including Interest

• Value portfolios are double-sorted 2×3, value-weighted portfolios based on size and value dimension • Behavioral factors are mean adjusted Motivation Explaining Value Data Results Conclusions Factor

firms from Singapore and Thai exchanges. • Next, firms sorted into decile groups by price and top decile price range is eliminated. • Assume event firm abnormal returns are independent as RTO occurrence

was mainly due to an improve on the inventory cost management continued from year 2017 as well as sales mix management in each product category efficiently. However, the Company still strictly

ด้านพลงังานที่สงูขึน้และสดัสว่นผลิตภณัฑ์ที่ขาย(product mix) 3. คา่ใช้จา่ยขายและบริหารอยูท่ี่ 84.8ล้านบาท ซึง่เพ่ิมขึน้จากปี 2560 ซึ่งอยูท่ี่ 72.04 บาท 4. คา่ใช้จา่ยทางการเงินอยูท่ี่ 20.82 ล้านบาท