renewing their franchise contracts. Zen Corporation Group Public Company Limited 782/1 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02-0195000 Item For the Year Ending 31 Dec 2017 2018 Net Number

(2) adjustment increasing the royalty and marketing fee rates for those franchisees renewing their franchise contracts. Zen Corporation Group Public Company Limited 782/1 Soi Onnuch 17, Suanluang

the same period of the year earlier and has gross profit margin of 31.89%. because the company has improved the structure within the organization. The company has administrative expenses of THB 3.56

Attn : The Directors and The MAI Manager Ref: Dimet AC 1802/001 February 13, 2018 Attention: The Directors and The MAI Manager The Stock Exchange of Thailand Subject: Report on improved Q.2’s

margin of (11.49%). because the company has improved the structure within the organization The company has administrative expenses of THB 7.62 million, increase of THB 1.17 million or 18.03% compared to

decreased year-on-year, attributable to improved efficiency as well as on-going cost reduction and cost control. Hence, gross profit margin improved from 7.0% of sales in Q1 2016 to 7.7% of sales in Q1 2017

the form of outsourcing or partnership. In this regard, the partnership-based business operation guidelines must be improved from the SEC circular in this matter. SEC has therefore proposed issuance of

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

in Malaysia. Cost of sales and services increased by only 1.2 percent while sales have increased by over 3 percent. As a result, gross profit margin as percentage of sales continuously improved, from

percentage of sales, gross profit margin improved from 7.2% in Q1 2018 to 8.9% in Q1 2019, driven by cost reduction measures and improved efficiency and increases of gross profit from tooling sales in Q1 2019