To break or not to break: Evidence from price discovery process of Thai stocks during the pre-opening of each trading session To break or not to break Evidence from price discovery process of Thai

expenses inconsistent with the market price without business reasons, (3) investment in complex assets or financial instruments that are not core transactions according to the entity’s business objectives

profitable assets or stock repurchase 3. overproducing Relate to changes in estimates and accounting policies. Accruals depend on judgements of management teams within the constraints of generally accepted

or recommended for the portfolio. It should not be assumed that an investment in these securities or sectors was or will be profitable. Issuer name Consumer Products – Nutrition Country China Ticker

Verita has the ability to perform business which will be profitable in the future and can be used for loan repayment. For another 2 borrowers, BBW and DDAT who are not connected persons, the Company has an

, 2017 for the price of not less than Baht 190 million. The resolution was also aimed to maximize Company and its shareholders’ benefits with the suggestion for Company to pay attention to adverse social

. 49% 3. Mr. Apichart Kasemkulsiri 1% 4. Mrs. Ornruedi Na-Ranong 1% Source of Funding: Cash flow from business operation of the Company Profit of Investment: Dividend The above is not within the scope of

. Since the transaction size is less than 15%, therefore, the Company has no obligation to report and disclose the transaction, and not oblige to obtain the resolution from shareholders. However, the

had to be closed according to government policy. But the company was able to adjust to its profitable operating results this quarter details as follows: Management Discussion and Analysis Q2/2020 Page 3

shareholder. This accounted 75.35 % in the third quarter of 2017. The company has not received a written valuation by an independent evaluation. So it is not yet recorded profit from changes to the investment