for growth abroad in order to create long-term growth and to diversify risks. As a result, within this year, the Company plans to sign more franchise contracts in CLMV countries to open After You

, which increased at a rate less than the increase in revenue. This is because there is a renewal of equipment for lease contracts that have expired and changes in the equipment life estimates in order to

opportunities abroad beyond Hong Kong, with plans to sign contracts with franchisees in CLMV countries to open After You dessert cafe in order to diversify risk of relying solely on domestic income and to create

foreign currencies, the Company has entered cross currency interest rate swap contracts to fully hedge its debt. Debentures, Solvency and Liquidity Management As of August 31, 2023, the Company has

total borrowings. However, in order to manage risk that might occur from the fluctuation in foreign currencies, the Company has entered cross currency interest rate swap contracts to fully hedge its debt

increase in logistic cost per contracts, (3) Rental and service fees, increased by THB 3.60 million, the increase was attributed to the fact that in 2021 the Company had received rental and service fee

marketplace commission fees, (3) an increase in transportation expenses of THB 0.76 million due to soaring fuel prices which led to an increase in logistic cost per contracts. (4) an increase in rental and

increase in logistic cost per contracts. (4) an increase in rental and service fees of THB 16.77 million, from the opening of 6 new branches during the year, (5) an increase in utility expenses of THB 5.60

% of total borrowings. However, in order to manage risk that might occur from the fluctuation in foreign currencies, the Company has entered cross currency interest rate swap contracts to fully hedge its

interest rate swap contracts to fully hedge its debt. Debentures, Solvency and Liquidity Management As of May 31, 2024, the Company has outstanding long-term debentures, representing unsubordinated and