. - Revenues from hotel operations in Q1/2019 amounted 88.15 million baht increased by 9.18 million baht or 11.62% from 78.97 million baht in Q1/2018 due to the opening of new hotel, MAVEN Stylish Hotel Bangkok

. - Revenues from hotel operations in Q2/2019 amounted 71.35 million baht increased by 8.98 million baht or 14.40% from 62.37 million baht in Q2/2018 due to the opening of new hotel, MAVEN Stylish Hotel Bangkok

% MB % MB % 1. Wellness and Anti-aging 128.58 40.58% 162.70 43.82% 34.12 26.54% 2. Aesthetic Innovation 96.00 30.30% 67.17 18.09% (28.83) (30.03%) 3. Companion Animal Health 80.78 25.50% 132.19 35.60

Innovation 2.94 3.03 24.11 28.39 (21.17) (87.80%) 3. Companion Animal Healthcare 43.06 44.33 25.70 30.26 17.35 67.51% 4. Livestock 3.36 3.45 3.25 3.82 0.11 3.36% Total Sales Revenue 97.13 100.00 84.93 100.00

baht in 2018 due to the opening of new hotel, MAVEN Stylish Hotel Bangkok. - Management fee income in 2019 amounted 87.93 million baht increased by 28.42 million baht or 47.76% from 59.51 million baht in

Conclusion Introduction • A hedge is an investment position intended to offset potential losses/gains that may be incurred by a companion investment. + Exposure + Exposure + Exposure + Exposure + Exposure

the companion Power BI visualization. 9 investment made in December of year t to January of year t+1 is counted as 2 years when it is effectively 2 months), Thai investors tend to make such investments