cocoa powder due to price competition. In April 2018, the sales of manufacture of skincare products, cosmetics, food supplements and medical used to treat skin disease, decreased at Baht 38 million or

to higher unit production costs following the low demand volumes and more intensive competition among lower market demand. In terms of expenses in the current quarter, the company continues to control

mainly due to Nguyen Kim sales dropped, resulted from the intense competition in Vietnam while, DIY business in Thailand (Thai Watsadu) had grown thanks to both existing stores and new stores. The Company

% or decreased by 22.96%. Because the Company participated in a pre-bid competition during the period of high crude palm oil price. Therefore, the Company has realized higher profit margin when the price

low gross margins because of the relatively high competition. Cost of equipment for lease of the Q4–2020 greatly increased from Q3–2020 and Q4–2019. This is because some projects of equipment for lease

other persons in a manner which is similar to or which is in competition with the operation of the management company except where the management company can show that its organizational structure does

of healthier growth from stabilized competition coupled with the trend of increased consumption and usage, especially from a recovery in tourism-related activities. The continuous efforts to promote 5G

projects of the government and state enterprises have slowed down and increased more competition in the market. The majority of the Company's revenue recognized in 2023 comes from government and state

TTTBB acquisition and good momentum in organic performance, with expanded economic conditions and a stabilized competition outlook. The key is to deliver convergence across our services leveraging our

to improved sales growth. Page 5 of 10 Management Discussion & Analysis Q3/2024 Revenue from the wholesale business declined in the dealer segment due to competition from major players in each region