Financial Information

2.1 Cash Flow Liquidity

Cash flow from operating activity of the Company in 2021 and 2020 was 76.67 million Baht and 159.64 million Baht respectively. Cash flow for investment activity in 2021 and 2020 was 130.02 million baht and 95.48 million baht respectively, the major reduction was the temporary investment, fixed assets such as shops construction, office furniture & equipment, and computer software. For cash flow from funding activity in 2021 and 2020, the spending was 64.61 million Baht and 233.83 million Baht respectively, from the payment of the rental commitments.

2.2 Liquidity Ratio

In 2021 and 2020, the Company had a liquidity ratio of 5.12 times and 4.30 times respectively, which was at a good level. However, when considering from cash status, the Company had a cash cycle of 257 days and 258 days respectively. The Company has adequate liquidity for such long-term cash cycle management, resulting in a strong cash status and no need to rely on any loan.    

2.3 Debt collection period and pay off debt

The Company has an average collection period of 31 days. The Company provides trade credit to modern trade customers, General Trade, foreign wholesale receivables and company employees. and effective tracking of debt collection, receiving payments on time, while the company still maintains the average debt collection period at 31 days.

3.1 Total liability of the Company by the end of 2021 and 2020 was 200.49 million Baht and 234.35 million Baht respectively. The important current liability has been as follows.

• Trade Account payable by the end of 2021 and 2020 was 38.90 million baht and 28.72 million baht respectively or its proportion was 3.99% and 2.65% of total assets respectively. The account payable days was 55 days and 56 days respectively. Account payable increased in 2021 from the purchasing of goods to be prepared for the sales of Q.1 2022. 
• Other Account payable consisted of accrued expense, Revenue Department payable, assets payable etc. By the end of 2021 and 2020, it was 33.24 million baht and 59.29 million Baht respectively or its proportion for 3.41% and 5.48% of total assets respectively.  

3.2 Shareholder’s equity by the end of 2021 and 2020 was 773.61 million baht and 847.90 million Baht respectively. In 2021, shareholder’s equity decreased from the net operating loss in 2021.

• In 2021 and 2020 was 223.02million baht and 353.28 million baht respectively. 
• The gross profit margin was at 42.47% and 54.08%, respectively. The decline of gross profit margin is the result of increased sales promotion to compete with other brands.  
• Due to the epidemic situation of the COVID-19, there has been a slowdown in sales. The company has recognized allowance for devaluation of inventories to maintain products quality. The average inventory days decreased from 204 days in 2020 to 116 days in 2021

Net profit (loss) in 2021 and 2020was -80.77million baht and -104.88 million baht respectively, representing -19.61% and -13.33% respectively. Net profit (loss) declined mainly from business restructuring and cost-saving programs. And affected by the COVID-19 crisis, the ongoing slowdown of economy and market consumption as well as the decrease in the number of tourists.

2.1 Cash Flow Liquidity

Cash flow from operating activity of the Company in 2021 and 2020 was 76.67 million Baht and 159.64 million Baht respectively. Cash flow for investment activity in 2021 and 2020 was 130.02 million baht and 95.48 million baht respectively, the major reduction was the temporary investment, fixed assets such as shops construction, office furniture & equipment, and computer software. For cash flow from funding activity in 2021 and 2020, the spending was 64.61 million Baht and 233.83 million Baht respectively, from the payment of the rental commitments.

2.2 Liquidity Ratio

In 2021 and 2020, the Company had a liquidity ratio of 5.12 times and 4.30 times respectively, which was at a good level. However, when considering from cash status, the Company had a cash cycle of 257 days and 258 days respectively. The Company has adequate liquidity for such long-term cash cycle management, resulting in a strong cash status and no need to rely on any loan.    

2.3 Debt collection period and pay off debt

The Company has an average collection period of 31 days. The Company provides trade credit to modern trade customers, General Trade, foreign wholesale receivables and company employees. and effective tracking of debt collection, receiving payments on time, while the company still maintains the average debt collection period at 31 days.

3.1 Total liability of the Company by the end of 2021 and 2020 was 200.49 million Baht and 234.35 million Baht respectively. The important current liability has been as follows.

• Trade Account payable by the end of 2021 and 2020 was 38.90 million baht and 28.72 million baht respectively or its proportion was 3.99% and 2.65% of total assets respectively. The account payable days was 55 days and 56 days respectively. Account payable increased in 2021 from the purchasing of goods to be prepared for the sales of Q.1 2022. 
• Other Account payable consisted of accrued expense, Revenue Department payable, assets payable etc. By the end of 2021 and 2020, it was 33.24 million baht and 59.29 million Baht respectively or its proportion for 3.41% and 5.48% of total assets respectively.  

3.2 Shareholder’s equity by the end of 2021 and 2020 was 773.61 million baht and 847.90 million Baht respectively. In 2021, shareholder’s equity decreased from the net operating loss in 2021.

• In 2021 and 2020 was 223.02million baht and 353.28 million baht respectively. 
• The gross profit margin was at 42.47% and 54.08%, respectively. The decline of gross profit margin is the result of increased sales promotion to compete with other brands.  
• Due to the epidemic situation of the COVID-19, there has been a slowdown in sales. The company has recognized allowance for devaluation of inventories to maintain products quality. The average inventory days decreased from 204 days in 2020 to 116 days in 2021

Net profit (loss) in 2021 and 2020was -80.77million baht and -104.88 million baht respectively, representing -19.61% and -13.33% respectively. Net profit (loss) declined mainly from business restructuring and cost-saving programs. And affected by the COVID-19 crisis, the ongoing slowdown of economy and market consumption as well as the decrease in the number of tourists.

2.1 Cash Flow Liquidity

Cash flow from operating activity of the Company in 2021 and 2020 was 76.67 million Baht and 159.64 million Baht respectively. Cash flow for investment activity in 2021 and 2020 was 130.02 million baht and 95.48 million baht respectively, the major reduction was the temporary investment, fixed assets such as shops construction, office furniture & equipment, and computer software. For cash flow from funding activity in 2021 and 2020, the spending was 64.61 million Baht and 233.83 million Baht respectively, from the payment of the rental commitments.

2.2 Liquidity Ratio

In 2021 and 2020, the Company had a liquidity ratio of 5.12 times and 4.30 times respectively, which was at a good level. However, when considering from cash status, the Company had a cash cycle of 257 days and 258 days respectively. The Company has adequate liquidity for such long-term cash cycle management, resulting in a strong cash status and no need to rely on any loan.    

2.3 Debt collection period and pay off debt

The Company has an average collection period of 31 days. The Company provides trade credit to modern trade customers, General Trade, foreign wholesale receivables and company employees. and effective tracking of debt collection, receiving payments on time, while the company still maintains the average debt collection period at 31 days.

3.1 Total liability of the Company by the end of 2021 and 2020 was 200.49 million Baht and 234.35 million Baht respectively. The important current liability has been as follows.

• Trade Account payable by the end of 2021 and 2020 was 38.90 million baht and 28.72 million baht respectively or its proportion was 3.99% and 2.65% of total assets respectively. The account payable days was 55 days and 56 days respectively. Account payable increased in 2021 from the purchasing of goods to be prepared for the sales of Q.1 2022. 
• Other Account payable consisted of accrued expense, Revenue Department payable, assets payable etc. By the end of 2021 and 2020, it was 33.24 million baht and 59.29 million Baht respectively or its proportion for 3.41% and 5.48% of total assets respectively.  

3.2 Shareholder’s equity by the end of 2021 and 2020 was 773.61 million baht and 847.90 million Baht respectively. In 2021, shareholder’s equity decreased from the net operating loss in 2021.

• In 2021 and 2020 was 223.02million baht and 353.28 million baht respectively. 
• The gross profit margin was at 42.47% and 54.08%, respectively. The decline of gross profit margin is the result of increased sales promotion to compete with other brands.  
• Due to the epidemic situation of the COVID-19, there has been a slowdown in sales. The company has recognized allowance for devaluation of inventories to maintain products quality. The average inventory days decreased from 204 days in 2020 to 116 days in 2021

Net profit (loss) in 2021 and 2020was -80.77million baht and -104.88 million baht respectively, representing -19.61% and -13.33% respectively. Net profit (loss) declined mainly from business restructuring and cost-saving programs. And affected by the COVID-19 crisis, the ongoing slowdown of economy and market consumption as well as the decrease in the number of tourists.

2.1 Cash Flow Liquidity

Cash flow from operating activity of the Company in 2021 and 2020 was 76.67 million Baht and 159.64 million Baht respectively. Cash flow for investment activity in 2021 and 2020 was 130.02 million baht and 95.48 million baht respectively, the major reduction was the temporary investment, fixed assets such as shops construction, office furniture & equipment, and computer software. For cash flow from funding activity in 2021 and 2020, the spending was 64.61 million Baht and 233.83 million Baht respectively, from the payment of the rental commitments.

2.2 Liquidity Ratio

In 2021 and 2020, the Company had a liquidity ratio of 5.12 times and 4.30 times respectively, which was at a good level. However, when considering from cash status, the Company had a cash cycle of 257 days and 258 days respectively. The Company has adequate liquidity for such long-term cash cycle management, resulting in a strong cash status and no need to rely on any loan.    

2.3 Debt collection period and pay off debt

The Company has an average collection period of 31 days. The Company provides trade credit to modern trade customers, General Trade, foreign wholesale receivables and company employees. and effective tracking of debt collection, receiving payments on time, while the company still maintains the average debt collection period at 31 days.

3.1 Total liability of the Company by the end of 2021 and 2020 was 200.49 million Baht and 234.35 million Baht respectively. The important current liability has been as follows.

• Trade Account payable by the end of 2021 and 2020 was 38.90 million baht and 28.72 million baht respectively or its proportion was 3.99% and 2.65% of total assets respectively. The account payable days was 55 days and 56 days respectively. Account payable increased in 2021 from the purchasing of goods to be prepared for the sales of Q.1 2022. 
• Other Account payable consisted of accrued expense, Revenue Department payable, assets payable etc. By the end of 2021 and 2020, it was 33.24 million baht and 59.29 million Baht respectively or its proportion for 3.41% and 5.48% of total assets respectively.  

3.2 Shareholder’s equity by the end of 2021 and 2020 was 773.61 million baht and 847.90 million Baht respectively. In 2021, shareholder’s equity decreased from the net operating loss in 2021.

• In 2021 and 2020 was 223.02million baht and 353.28 million baht respectively. 
• The gross profit margin was at 42.47% and 54.08%, respectively. The decline of gross profit margin is the result of increased sales promotion to compete with other brands.  
• Due to the epidemic situation of the COVID-19, there has been a slowdown in sales. The company has recognized allowance for devaluation of inventories to maintain products quality. The average inventory days decreased from 204 days in 2020 to 116 days in 2021

Net profit (loss) in 2021 and 2020was -80.77million baht and -104.88 million baht respectively, representing -19.61% and -13.33% respectively. Net profit (loss) declined mainly from business restructuring and cost-saving programs. And affected by the COVID-19 crisis, the ongoing slowdown of economy and market consumption as well as the decrease in the number of tourists.

2.1 Cash Flow Liquidity

Cash flow from operating activity of the Company in 2021 and 2020 was 76.67 million Baht and 159.64 million Baht respectively. Cash flow for investment activity in 2021 and 2020 was 130.02 million baht and 95.48 million baht respectively, the major reduction was the temporary investment, fixed assets such as shops construction, office furniture & equipment, and computer software. For cash flow from funding activity in 2021 and 2020, the spending was 64.61 million Baht and 233.83 million Baht respectively, from the payment of the rental commitments.

2.2 Liquidity Ratio

In 2021 and 2020, the Company had a liquidity ratio of 5.12 times and 4.30 times respectively, which was at a good level. However, when considering from cash status, the Company had a cash cycle of 257 days and 258 days respectively. The Company has adequate liquidity for such long-term cash cycle management, resulting in a strong cash status and no need to rely on any loan.    

2.3 Debt collection period and pay off debt

The Company has an average collection period of 31 days. The Company provides trade credit to modern trade customers, General Trade, foreign wholesale receivables and company employees. and effective tracking of debt collection, receiving payments on time, while the company still maintains the average debt collection period at 31 days.

3.1 Total liability of the Company by the end of 2021 and 2020 was 200.49 million Baht and 234.35 million Baht respectively. The important current liability has been as follows.

• Trade Account payable by the end of 2021 and 2020 was 38.90 million baht and 28.72 million baht respectively or its proportion was 3.99% and 2.65% of total assets respectively. The account payable days was 55 days and 56 days respectively. Account payable increased in 2021 from the purchasing of goods to be prepared for the sales of Q.1 2022. 
• Other Account payable consisted of accrued expense, Revenue Department payable, assets payable etc. By the end of 2021 and 2020, it was 33.24 million baht and 59.29 million Baht respectively or its proportion for 3.41% and 5.48% of total assets respectively.  

3.2 Shareholder’s equity by the end of 2021 and 2020 was 773.61 million baht and 847.90 million Baht respectively. In 2021, shareholder’s equity decreased from the net operating loss in 2021.

• In 2021 and 2020 was 223.02million baht and 353.28 million baht respectively. 
• The gross profit margin was at 42.47% and 54.08%, respectively. The decline of gross profit margin is the result of increased sales promotion to compete with other brands.  
• Due to the epidemic situation of the COVID-19, there has been a slowdown in sales. The company has recognized allowance for devaluation of inventories to maintain products quality. The average inventory days decreased from 204 days in 2020 to 116 days in 2021

Net profit (loss) in 2021 and 2020was -80.77million baht and -104.88 million baht respectively, representing -19.61% and -13.33% respectively. Net profit (loss) declined mainly from business restructuring and cost-saving programs. And affected by the COVID-19 crisis, the ongoing slowdown of economy and market consumption as well as the decrease in the number of tourists.