% to 33.6% mainly derived from the biomass power plants, which the Group acquired in the third quarter of 2020, although the Group had significantly improve the machinery’s efficiency and cost reduction
market leaders and largest refined glycerine producers’ countries were lock down, resulting in a significant reduction in production. In addition, the domestic market has limited availability of refined
a significant reduction in production. In addition, the domestic market has limited availability of refined glycerine as raw materials from biodiesel production have decreased in accordance with the
reduction in customer contact leads to a decrease in selling expenses such as expenses related to customers, etc. Furthermore, the cost of impairment loss on financial assets in 2021 decreased by 93.4 million
and cost reduction, the overall performance still inferior to the Group own development biomass power plant. This was led to the decrease of gross profit margin of biomass power plant. 6 Administrative
property tax expenses reduction according to the government measures. • Administrative Expenses to Total Revenue in Q1/2022 was 19.9%, slightly increased from 18.2% in Q1/2021 mainly due to the higher
shortage of refined glycerine in the market, resulting in a significant reduction in production. In addition, the domestic market has limited availability of refined glycerine as raw materials from biodiesel
glycerine in the market, resulting in a significant reduction in production. In addition, the domestic market has limited availability of refined glycerine as raw materials from biodiesel production have
selling expenses was mainly from the increase in staff expenses to support the full operation, as well as the reduction in discount of rental fees for the dessert cafés. • Selling Expenses to Total Revenue