 Domestic Branded Business sales decreased 13% YoY.  Export Branded Business sales rose 13% YoY, mainly due to sales increase from milk product and sales recognition period, starting from April 27, which was

BTSDF Bond Rating (S&P/Moody’s/Fitch) BB (S&P) / Ba3 (Moody’s) MSCI ESG Rating BBB Industry & Description Manufacturer and distributor of packaged food products. A leading provider of infant milk formula

and recruit new customers to the Company. From the end of Q2/2018 until mid of Q3/2018, the Company has launched new products into the market, e.g., HPP (High Pressure Processing) fruit juices, and milk

Processing) fruit juice, milk tablet, personal care products, Malee Coco in new designed carton package; sales compensation for branded products; as well as selling expenses recognition from LQSF which

follows:  Domestic Branded Business sales decreased 17% YoY.  Export Branded Business sales increased 24% YoY, mainly due to sales increase from fruit juice and milk products, and sales recognition from

Lemon, HPP (High Pressure Processing) fruit juice, milk tablet, personal care products, Malee Coco in new designed carton package, which was already projected following the Company’s new product launch