improvement as planned, following the improved product mix with an increased sales proportion of higher profit margin products.  In 9M/2019, the Company has opened several new stores, including Index Living

mix of lower cost structure products. Selling and Administration Expenses  Selling expenses to total revenue ratio in Q1-2020 rose by 0.06% QoQ resulting primarily from decreasing in total revenue

company, while the company still has improved on the inventory cost management as well as sales mix management in each product category efficiently, and strictly controlled on the selling and administrative

well as sales mix management in each product category efficiently, and strictly controlled on the selling and administrative expenses. For the six-month period ended June 30, 2018 Jubilee Enterprise

caused the on-ground marketing activities, media communications and promotions to delay in order to adopt more effective sales and marketing mix that is differentiate and able to be - Translation - Page 3

ภายใน (Internal) Gen 1 Gen 2 Gen 3 Gen 4 Gen to Gen SEC Classification : ใช้ภายใน (Internal) แหล6งเงินทุน หลากหลาย ทำบัญชี เล6มเดียว การกำกับดูแล กิจการท่ีดี ระบบงาน & การควบคุมภายในท่ีดี KEY SUCCESS

Limited Q4’18 and FY18 Management Discussion & Analysis 27 February 2019 Q4’18 and 2018 Management Discussion & Analysis Page 3/7 The success of our small brands with herbal benefits help stabilizing

sales of the company, while the company still has improved on the inventory cost management as well as sales mix management in each product category efficiently, and strictly controlled on the selling and

million or 14.0 percent as the company still has improved on the inventory cost management as well as sales mix management in each product category efficiently, and strictly controlled on the selling and

Phase V according to process of the work's success. As a result, the operating results for the twelve months ended 31 December 2019 are as follows: - Sales increased from 346.16 million Baht in the year