- Ratanabanchuen & Saengchote © Average returns net of expense ratio are calculated between 2005 – 2016, or shorter for funds established after 2005. The benchmark for risk-adjustment is SET TRI. Returns are

2.90 2.44 1.12 0.04 0.51 2.81 1.73 1.74 - 1 2 3 4 5 6 Annual report expense ratio (actual) Trigger fund Equity Large-Cap Equity Small/Mid-Cap Max 6.00 4.35 5.57 Min 1.20 0.46 1.17 Average 3.34 1.86 2.70

Average ROE* - mean 64% 65% *medians are 18% and 24% for 2014 and 2013, respectively. Source: statistics or financial statements accessible at www.sec.or.th Outlines  Fees: a sure thing  Performance

findings. The results of our analyses are best explored in conjunction with a Power BI visualization accessible via http://bit.ly/2PjAo2L. 3. Results Fund Returns Over the sample period, the average monthly

955.30% Gross Profit 418.34 38.05% 633.38 40.90% (215.04) (33.95%) Other Revenue 36.08 3.28% 38.79 2.50% (2.71) (6.99%) Selling Expense (175.92) (16.00%) (154.89) (10.00%) 21.03 13.58% Administrative

%) (11.46) (0.57%) 100.37 875.83% Total Cost (849.78) (59.46%) (1,119.43) (55.97%) (269.65) 24.09% Gross Profit 579.51 40.55% 880.76 44.03% 301.25 34.20% Selling Expense (256.71) (17.96%) (207.62) (10.38

drop in the average selling price. 3. Selling expenses Selling expenses accounted for Baht 82.72 million in the first nine months of 2019, mounting by Baht 21.00 million or 34.02% from Baht 61.72 million

price average was decreased and the world steel price trend decreased from the same period of last year. 2. Gross profit margin was 5.69 % of Revenue from sale and service, decreased from last year that

fixed interest rate from 2. 05 to 3. 01 percent per annum to reduce finance cost and risk management from floating interest rate. As a result, the Company has saved interest expense approximately by Baht

Year Ended December 31, 2018 Year Ended December 31 2017 Increase (Decrease) THB millions % THB millions % THB millions % Selling expense 43,747 21.2% 40,299 21.4% 3,448 8.6% Administrative expense