BJC: Earnings Call (OPPDAY) Q1/2026 บมจ. เบอร์ลี่ ยุคเกอร์

Hinzugefügt: 2026-05-25

[00:00:00]Hey [song] [song] [song] Hello, hello, welcome everyone!

[00:00:37]Ladies and gentlemen, welcome to the financial results of Worldyer Public Company Limited, or BJC, for the first quarter of 2026. Today, the BJC team would like to provide information to support our one-year outlook. Okay, let's begin.

[00:00:55]Regarding the financial results for the first quarter of this year, even though the overall economic situation... Purchasing power is still quite weak, especially in certain areas, but BigJC is still able to... Maintain your ability to do things, please, because... We have good cost management and discipline, we've adjusted our product mix, and we're continuing with profit improvement. In this quarter, we've achieved three of these goals. I 'll provide more details later.

[00:01:26]Okay, so in the first quarter of this year, we... uh... achieved our sales target.

[00:01:30]Total sales were 38,191 million baht, a slight decrease of approximately 0.8 % year-on-year.

[00:01:39]After that, it still comes from the TRF business, and... This is in line with global spending trends.

[00:01:46]Anyway, this is the packaging group. And then there's the Health Cannic group, too. It's growing well and helps to strengthen the system. The overall picture of the company is good. Now, the point we need to make... She did quite well, especially in terms of... Our gross profit margin is 20.8%, or 8%, which is an increase of 42 basis points. This reflects our effective margin management. It was efficient, and that's regarding the net profit.

[00:02:15]Our net profit is 1,057 million baht, excluding extraordinary items. The village headman, Sutthi, will close the deal at 1,180 million baht, even though the environment... The business is still resilient, but we also see that VC (Venture Capital) is very strong.

[00:02:37]It stems from the fact that we, uh, have controls in place regarding discipline, specifically regarding portal diversification. Okay, and that includes operational and efficiency aspects. The next page will show some project examples.

[00:02:51]Regarding the improvements and savings we've been doing this quarter, we achieved 390 million baht. This comes from various ongoing initiatives across the organization, one of which is... The main project in this regard is development.

[00:03:08]And improving the ingredients also helps reduce costs. This includes reducing costs in terms of materials and perishable goods, and we also provide... It's important to maintain the quality of the product.

[00:03:21]Regarding consistent production standards, Regarding the energy sector, well, we're still moving forward.

[00:03:26]Continuously installing more SolarTop systems.

[00:03:29]Let's increase the proportion of clean energy used.

[00:03:31]And it also reduces costs and saves energy, too.

[00:03:34]Currently, we have BPC installed.

[00:03:37]Solar has more than 500 branches now. So, the total production capacity is more than 130 megawatts, and there are plans to expand.

[00:03:47]More in the future.

[00:03:49]In addition, we are also undertaking sourcing and procurement projects, opening new partnerships with our existing line, and expanding... Price competition has increased, leading to greater competitiveness.

[00:04:03]Stop sourcing various raw materials and then... We are able to manage costs with great success. Yes, it's going up, and we've also invested in... These are updates, and there are upgrades.

[00:04:16]Various machines are used in many businesses for... Reducing defects and production loss will improve efficiency.

[00:04:27]Next up is, uh... sustainability Okay, so in this quarter, we still received offers from JC and Big C.

[00:04:35]Recognition from both domestic and international sources.

[00:04:38]Continuing on, the most important award is... What I really want to highlight is that we got... We've been ranked No. 1 in the world in the Food and Stable Retailing category by S&P Global for the fourth consecutive year.

[00:04:54]Selected to be included in... Sustainability, yes, this is the 6th consecutive year. And the company itself is also ranked in the top 1% globally in this field. Regarding sustainability performance, according to the S&P Global corporate sustainability assessment, BJC scored a high 92 out of 100 this year, which is a very high score. This is the best since the company joined us for evaluation.

[00:05:23]Um, next page, regarding the awards... At the Future Trend Award in 2026, BJC Big C received a total of 4 awards. Um, Mr. Kaswin... Techacharoen received the Leader of Business award, while Sathapani Techinkul received the same award. We received the Leader of Social award, which reflects the growth of our business.

[00:05:49]This goes hand-in-hand with, uh, creating value.

[00:05:52]In addition to its contribution to society, the group of companies has also received the Leading of People and Leading of ESG awards, reinforcing its approach.

[00:06:02]Organizational development and sustainable growth.

[00:06:04]Standing strong in the long term, here's another important award: the Thailand Most Admired Company Award, in the category of Excellent Service. For Commerce, this reflects our strength.

[00:06:17]Uh, it's the DJC brand, and the standards... We manage the service standards that we provide.

[00:06:23]Importantly, BigC itself has continuously received the Best Localization Solution award from LINE Thailand for the third consecutive year. This is due to the success of our Digital Localization strategy, which has enabled us to reach our customers.

[00:06:38]Effectively in each area.

[00:06:42]Um, we see this kind of award as... This award reflects BC's ability to adapt and create growth. In the long term, another initiative of ours is expanding the BC EV charging network to support... The growth of electric vehicles is... Uh, the trend in solar energy consumption in the country. In Thailand too, Big C also has locations now. We offer services at more than 111 locations, which means we have over 990 branches nationwide, both in Thailand and Wang San. This is ours.

[00:07:20]Next, we'll talk about... uh... what we want.

[00:07:23]Today we want to share about the impact.

[00:07:25]Well, regarding the war, I have to say that it's the present.

[00:07:28]We view the direct impact on BJC CC as still being at a level we can manage. Yes, it's possible. There is n't any significant supply chain disruption that would affect operations. The main risk in this company's work is... We might be on the side of, well, the price of the object. It's raw energy, renewable energy, and cost. On the growth side, however, our company has a mitigation framework for various ongoing risks, including C-pass plus pass-through mechanisms, which are contract-based, long-term procurement contracts, supply diversification, and inventory management, as well as increasing... The logistical efficiency and SAMP data that were initially entered are helpful. This allows us to, uh, manage these courses well, and... From now on, we're still... until now, we're still... Uh, we'll be monitoring the situation closely. We believe that the existing cost management and supply chain measures will help. The company is able to manage risk and... Maintaining profitability on a continuous basis.

[00:08:36]Next page, please. Oh, and another piece of good news... What I wanted to share is about, uh, the company.

[00:08:41]We have successfully completed the acquisition of mm Meg Market Vietnam.

[00:08:47]Okay, so we're thinking of starting the consolidation process. The MM component of BGC has been included since May 25th, as we've been observing.

[00:08:56]That would help to reinforce the strength of it. The platform, J's platform, is of high quality. It also creates opportunities for long-term growth, uh... The Vietnamese market, which we believe to be a market... Those who are in high condition, if you look at their financial performance... From the first phase of our performance, we can still see strong results. Sales grew by approximately 20% year-on-year, and operating profit grew by 33% in the local currency. The main driver of this growth is the improvement in sensor samples. This has been done continuously, along with operational improvement within the organization itself, which has allowed us to maintain and perform quite well on the GP (Gross Profit) scale.

[00:09:44]Okay, but anyway... Uh, one more thing... uh, it's about... Regarding, uh, accepting the award... The brand and, uh, the way of doing business in... Regarding Vietnam, MM Vietnam received the Base of Vietnam Award in 2026, which is an award in the areas of Customer Engagement and Retail Operation.

[00:10:12]Now, moving on to the Financial Resource aspect, as mentioned earlier... I'd like to provide a little more detail about the results. For the first quarter, the company had total sales of 38.19 million baht. The main support came from, uh, Pubanju. That's outstanding growth, 14.5%, which comes from both the glass business and the assembly business. This includes the medical supplies and technical sectors, which grew by 6% due to demand.

[00:10:43]The businesses of Chapanth and Tip are also continuing to grow. The consumer goods sector is strong.

[00:10:51]And the new graphic might still be affected. It's affected by purchasing power, especially in certain groups. The area is still recovering slowly, you see.

[00:11:00]Meanwhile, the company has been moving forward with its product development, focusing on premium products. Continue to implement efficiency improvement projects. In order to maintain and continuously grow the Profitability Margin, therefore... As a result, our profit margin above is still increasing by one point compared to the previous year, in the IT sector.

[00:11:20]Uh, it closed at 2,960 million baht, and G's profit was 1,57 million baht. Meanwhile, Npadin remained stable at 2.8%. That's all for now.

[00:11:33]Next, we'll look at the operating results. Here are the tasks for each product and service group: This is a packaging group, as mentioned.

[00:11:43]Initially, we estimate growth of 14-15%, driven by the growth of cups and cans.

[00:11:49]Okay, so EBIT sales increased by 6.4% and 4%, in line with the increase in overall sales. The consumer goods group saw a sales decrease of approximately 3.2% and 2%, mostly in... Consumer goods and international business, I guess. This also includes us starting to restructure... Let's start a logistics business together. It's about creating, uh, efficiency in the workplace. This is a long-term operation with a profit margin.

[00:12:19]Initially, this falls under the consumer goods sector.

[00:12:21]This will be at 10.4, which is an increase of 93 points from adjusting the product mix and increasing the number of products sold.

[00:12:30]And that includes cost management. This amount is at 4,487 million baht, a decrease. At the same time, it follows the downward trend in the pharmaceutical group.

[00:12:42]And technically, it grew by 6% compared to last year, which was supported by my growth. And then there's the chemical group, which is at 41 million baht, an increase of 29.7%, or 7%, which is in line with the growth in gross profit margin. Yes, it's going up, and also for the TRFIC group, please apply.

[00:13:02]New data shows sales decreased by 4.1%, with the overall sales volume decreasing by 3.3%. This indicates a 3% decrease in purchasing power. The product group that includes chargers, I mean. This is combined with the impact from, uh... The situation at the border, regarding the branch in Area 1 as well, while the adjusted figure for this item is 1,216 million baht, which is a decrease of approximately 7.9% or 9%, is in line with the revenue. In the next post, I will go into more detail.

[00:13:34]Every business starts with a group. The business will pack the items immediately. Please go to the business page. Let's talk about glass first. Regarding the glass business in the first quarter, we're still seeing construction on the highway.

[00:13:46]Well, considering the expanding customer base... This includes the new products we've released, and also... This includes the competitive landscape in the industry. It's conducive to our growth, uh, uh... We've gained some new customers recently.

[00:14:00]In both Thailand and Vietnam, it covers many categories, including... Beer, sauces, drinks, and food, uh... This has resulted in a negative impact on the glass business market in Thailand. The company's growth increased from 39% to 12%, reflecting the strength of our customer base and our performance this quarter.

[00:14:24]This is also our position in the market at the same time.

[00:14:28]We also develop new products in collaboration with our customers.

[00:14:31]Originally, it was a continuous process, especially, uh, in... The group includes alcoholic beverages, and specialty brands like Chang Champagne and Su, as well as new packaging within the group. That includes the food sector as well; that's another development. The important thing is that we integrate. The glassware business in other countries... Vietnam and Malaysia have entered the market, specifically in Thailand, which allows us to optimize production and manage the group's operations. The manufacturing network can be made more efficient.

[00:15:10]Next up is the canned goods business group.

[00:15:14]Our canning business in the first quarter was... We're seeing a good recovery, especially in... Our business includes the ready-to-drink coffee group, flavored and carbonated beverages, and various other drinks, as well as our export business. They're still doing well, and we're expanding... uh... Expanding more internationally because of others.

[00:15:38]And in terms of Product Development, the company has also launched new products in collaboration with... We have a steady stream of customers, both in the city, for Functional Beverages, Alcoholic Drinks, and various other FA Beverage Categories.

[00:15:54]Businesses are still receiving positive factors here.

[00:15:57]Due to the warmer weather in the first quarter, it will increase the amount of... well, it's cheap. The overall effect of the drinks also contributed to the momentum. That's very good for both business and personal matters.

[00:16:10]Next, in the Consumer sector, specifically the Food group, we continued to grow in the first quarter. The page is constantly releasing new products.

[00:16:19]In order to create variety in terms of solutions. Uh, the changing landscape of SNA is that the company focuses on FA Innovation and Texture Innovation, such as taste testing, flavor profiles, and tactile experiences. It's about creating innovation in texture and adding excitement to the consumer experience.

[00:16:50]In addition, the company also launched a new product called Herbic Jell, which comes in two formulas: one to help with...the system. Here's some vegetable soup, and a recipe for eye care. This addresses the trend of functional snacks and health consumers, and we've received quite positive feedback. Next, we'll be focusing on the Nonfood group, specifically Personal Care. We'll continue developing products in this category and providing ongoing Wetness Training, such as the Parot Merry Splash campaign, which we launched with a video last time.

[00:17:27]Please share this, and it also includes the Serum and Shower Cream, which cater to the Beauty and Morning 2 segments. It also includes the new product, Promise, and DMP continues to expand its network.

[00:17:45]For the Stop Care and Sensitive Care groups, we are still open. The new brand, Ag, is, uh... Uh, skincare products that focus on gentleness, and skin care that follows the trend for men.

[00:18:00]Consumers are increasingly prioritizing self-care, and that includes tissue paper.

[00:18:06]Companies are focusing on developing value-added products in terms of softness, flexibility, and overall quality.

[00:18:20]Next, we'll look at the healthcare sector.

[00:18:23]In the Healthcare sector, this quarter we launched a new product called Face, a Dermal Felder and BI Simulator. It was officially launched on the 15th. Face is part of the Farm 5 product line, and the Biosimulator helps stimulate the creation of... Collagen is available through national channels, and that concludes the answer. It's a trend, well, regenerative athletics, that's continuously growing, and we see it that way.

[00:18:58]This launch took place at a time when... That's good because we, uh, the biosimulator and medical sectors, still have high growth. For example, the global market for 5G devices is expected to grow at a rate of approximately 13.9% per year, or 9%, from 2026 to 2033. So, we're keeping up with consumer trends. The products, uh, are still growing.

[00:19:23]Next, regarding our collaboration with DHL, we are still working with DL through BDL, which is the Joy Logistic Platform between C and DHL. We started integrating this between us on March 1st, and the operations are progressing as follows... Everything went smoothly without any disruption because there was no destruction involved in this collaboration. The goal is to enhance capabilities in... Regarding logistics, SL CH from BG must comply with international standards.

[00:19:59]Specifically in the Consumer and Healthcare business groups, which require a PL (Program-Based) system and an expanded network, the company also plans to expand its distribution center in Bangna.

[00:20:15]From approximately 8,700 square meters, it will increase to approximately 20,000 square meters within the next period.

[00:20:22]That would support future growth.

[00:20:25]Currently, we are collaborating with Transer and can acquire new clients within the OPL model. We will begin providing services starting this month.

[00:20:35]June goes up while... We've found three new clients so far. It 's both the PL and FLING models, and we 'll start providing services from July 8th. If you need it, it will be through Modil. I'd like to invite Mr. Icha.

[00:20:54]Thank you. Regarding the Modern Retail Supply Chain business, in the first quarter, sales closed at approximately 24,436 million baht, a slight decrease of about 4% compared to the previous year. The reason for this... The decrease in cells is due to a negative SSSG of approximately 3.3%. This negative SSG is a result of the high base effect from the EAS stimulation. The government's economic performance in the previous year was... This will have a significant impact on non-food product groups during the months of January to approximately.

[00:21:29]Last February, apart from Songkran... Yes, it is still affected as mentioned.

[00:21:34]It refers to consumption patterns in certain areas within the sector.

[00:21:38]Yes, in the border area, where there's still tension and stress, uh, the situation is still ongoing in that region. For one thing, and in conjunction with that, consider the cigarette sales figures... This company is also experiencing a decline, which if... We are not including the impact of the border situation. Regarding the situation and the number of new branches, the baseline for existing branches in Q1 is approximately -2.16%. However, the company... The interview continued, and we're still maintaining profitability. That's good. The GP Margin increased by 2 basis points compared to the previous year, closing at 18.3%. This is due to... From changes in cell types such as those caused by endoscopic procedures, The decrease in cigarette sales is due to factors such as... Maintaining relationships with professional staff and also regarding pricing.

[00:22:27]Next, we'll look at branch expansion.

[00:22:29]In the first quarter, the company had... The opening period is now around 25 branches.

[00:22:36]There's a price to be paid for this morale-boosting network, like crushing a sample.

[00:22:38]Continuing on, currently there are over 30,000 network members nationwide who are interested in this product. The plan to win is still proceeding according to plan.

[00:22:47]Yes, it's still safe, according to the company's adjustments. The wig has been prepared and completed 3 times. This includes the good quality one from last year. The renovation of the C Market scrub in the area is now complete. Regarding the center, the renovation of the store has been satisfactory. The renovation rate is higher than 94% for the TrC Center, and overall for Q1 it was at 92.3%, an increase from... The island quarter and the same time of year.

[00:23:30]Before we continue, let's reflect on the transfer market. And also, better management of the equipment and tance system. However, even with rental income and other expenses... BC's total service revenue will decrease due to the closure of some branches.

[00:23:46]Regarding the past years (comparing year), but if we look at it on a standard basis, the rental and service income of... Senior growth is still at approximately 1.9%, or 9% overall. This means the company is continuing to operate according to its renovation plan.

[00:24:05]And this year, we aim to renovate all 18 buildings.

[00:24:12]We wanted to share a few pictures with you.

[00:24:14]Okay, after the improvements, the C-type will have a more modern look. It's becoming more modern now, and they're paying more attention to customer experience.

[00:24:26]These would be pictures of 4-cylinder kennels at Bangna C-Cho.

[00:24:31]BCP Pattaya and BCP X have both undergone improvements in this set. This is regarding the C Mini, as we have reported. We discussed last quarter that we would proceed... Our work will proceed with opening PIXMI stores in a super convenience format.

[00:24:50]Currently, several stores have already opened, including: The houses are in Korat Market, Miracle Village, Samut Prakan, and then there's the Klong 1 area in Bangkok, using the new Pixie format that was previously featured on the show. This one will be larger than the original pizza.

[00:25:05]Currently, we're targeting an area of ​​250-300 square meters, which will include space for vehicle loading and other areas. The rental property includes...and at the moment.

[00:25:15]Similarly, within the store, we've also adjusted our merchandise and assortment to offer more variety, including Fresh Poultry, Ready-to-Eat, and Bakery items. This applies to the SKUs in the new branches as well.

[00:25:27]On average, there are approximately 8,000 SKUs, which is more than the original Mini Format, according to the branches shown in the image. We have approximately 6,000 SKUs available.

[00:25:35]We've also merged with DJC's system to create differentiation in the Pisi branch, in a Super Conven format. For example, we have a Gocv coffee shop in the CY zone, offering cream-based drinks in sachets.

[00:25:52]More and more, including Joy Story Character Core, which helps increase customer engagement and build... The experience of shopping in a group like Jen's was great. That's good, even though all three branches are open. I have n't been there long, just studying, but we're starting to see initializations like "f" and "edb" in English that are quite good.

[00:26:11]From the customer's perspective, regarding sales figures... An increase in the number of branches opened per day is good, and an increase in the average budget size is also good, or... That's good, considering the increase in the number of customers. It's still positive; there's parking space, the store layout looks better, and the console is improved, differentiating it from other branches quite well. This is regarding the Private Level at Big C.

[00:26:39]They are still performing strongly.

[00:26:41]Continuing on, in the first quarter, the private level proportion increased to a high of 17.4% of sales excluding the business segment.

[00:26:51]Alcohol, at the same time, its contribution to gross profit has improved.

[00:26:58]Yes, it's been increasing continuously, but only in this quarter.

[00:27:00]Compared to the previous quarter, growth increased by 168 points, reaching approximately 13.3%. The products performing well in PR remain Food and FR.

[00:27:18]OSX (All Off Store Sales) also continued its strong growth in Q1, reaching 14.2% this quarter, up from 13.1% in approximately six years. This is likely due to the growth throughout the period. I really liked it online, especially the online version. "Pleasing to the eye" grew by more than 16%, and "Pleasing to the eye" grew by more than 70%. In terms of "Pleasing to the eye," we... We are still developing the platform, as of the past quarter.

[00:27:46]Here, we've launched a really cool app.

[00:27:49]Okay, the new version is coming this month, in the quarter. It has already happened, and it's officially being used since May to accommodate the requests. The customers were very impressed and the alliance was formed. There have been more substitutions lately.

[00:28:03]We also support the growth of our cell lines. We did well by expanding the vegetable set.

[00:28:09]Currently, there are more than 92 locations nationwide, up from 75 locations in the past 2000-25 years, to accommodate and expand. The efficiency of delivery is even greater with this. And, as for Bit Point members, they continue to grow well as well.

[00:28:28]So, we have approximately 22.3 million members, or about 1.2 million monthly.

[00:28:36]Next, we have the launch of DHL, as Mr. Che mentioned earlier. In addition to Healthcare, DJC Logistics is also developing its Big Data/Logistics division. It's the same thing. Most recently, the company has... We're moving the H-Shop from the distribution center.

[00:28:54]At the main distribution center in Bang Pa-in. It's all done, and it's in line with the company's logistics optimization strategy, by integrating the Company Operations (COP) with the distribution center.

[00:29:05]Niba products being one of them will help. The efficiency in SC in terms of operations is good at the same time. We have also opened a new Market Place Group Center within the DC complex to support the growth of the market and businesses.

[00:29:25]Continuing into the future, these two parts will combine to utilize approximately 30,000 square meters of space in TC. Furthermore, for 2026, the company expects to achieve cost savings of approximately 150 million baht through improved logistics efficiency, including increasing the number of VV trucks from 13 to 27 and utilizing 228 large trailers. This will increase our delivery capacity by about 8%, and in addition to that... Okay, we will also be making improvements by doing Truck relaxation and process optimization to surround the number of... Run redundant processes and improve efficiency. That's the overall intention. That concludes my report, sir.

[00:30:17]If you have any questions, feel free to type them in the chat.

[00:30:24]Actually, to begin with, your question... So, they're quite similar, so allow me to summarize.

[00:30:32]Uh, let's answer the questions all at once first. Well, I think we should be able to achieve our growth target for this year.

[00:30:40]How much? You have to tell me the target price. It will soon be a target that includes MM (Materials, etc.), everything is ready, and it also includes the standards.

[00:30:48]Various economic stimulus measures have already been implemented, with the target for 2026 in terms of... Sales figures, and in terms of gross profit margin, uh, let's start with sales figures. Okay, so when we include MM, we'll be calculating MM's budget as well, from the beginning of 2025 all the way to 2026.

[00:31:12]It's a comparison, for example, if we include MM from 2025, starting from sales figures downwards, excluding N, which won't be included in that year. Regarding sales figures, the overall BJC consolidated performance in 2020 is projected to grow at a mid- single digit level. This growth is mainly driven by the packaging group, which is expected to grow by double digits for two reasons. The first reason is... The momentum of the can itself can be achieved. That's pretty good for now.

[00:31:51]We should be able to, uh, continue this momentum for every glass.

[00:31:58]Well, that's also possible, I think. I'm thinking of doing it this year. It will be a year where, well, we'll all do well.

[00:32:05]And another reason is that we are consolidating our glass business. The country is also involved, so those are the two main reasons that will contribute to the growth of the company this year.

[00:32:17]Okay, uh, digitally, uh, consumer spending in general, all consumer spending will grow by about 10 digits per year, because... We've launched several new NPD products, and we've also introduced new PL businesses, as previously reported. The Healthcare Technical segment is still growing considerably, in the double- digit range. The Wi-Fi and other aspects are still in a positive position, and we have good expectations for the Healthcare Technical segment. Regarding the segment's modalities, we think they might be slightly positive for the overall picture, leading to single-digit growth in the consolidated segment. As for the profit margin, we think it should... This could be called maintaining an all-time high level.

[00:33:20]Uh, that's a pretty good driving force.

[00:33:22]So, it would be the Healthcare Technical aspect, and then the Model, uh, which... [Clears throat] You can see from the Q1 performance, uh, in terms of what might be affected by, uh, Stime, whether it's Caging, Consumer, this might, uh, Cross Covid Improvement, might be negative first. Okay, so this is roughly what the picture looks like. The next question is, um, what are the expansion goals for the next year? Please proceed.

[00:33:55]Um, excuse me, Acha.

[00:33:57]Yes, that's our goal for expanding branches this year.

[00:34:00]Yes, we're still sticking to the same goals we set last quarter, which is to expand our Big Format stores by 2 branches and our Big Format Mini stores by 200 branches.

[00:34:11]Currently, we've already expanded by more than 10, and we think we can reach 233 this year. In addition, we intend to renovate 183 branches. So, regarding the Big Format stores we previously planned to expand, that's still the original goal.

[00:34:31]What strategies led to this increase? Target is still looking at the gross profit margin of modern retail, and it will likely remain as reported.

[00:34:44]Or even in the first quarter, our Gross Profit Margin grew by 12 business points, and that trend is continuing into the second quarter, which is quite positive because... Therefore, we believe that because it will likely grow as well this year, it's part of our strategy.

[00:35:00]We're working on improving our product mix and focusing on cost saving initiatives, such as solar power. That's one of the things we prioritize. I think that answers the initial question now. That's all for now. Okay.

[00:35:34]Oh, I'm sorry.

[00:35:36]If there are no further questions, I'll be ending here.

[00:35:39]This report, however, is from a data analyst. If you have any further questions, please feel free to send them to the email address c.th T anytime.

[00:35:49]Thank you. Thank you. Hey!

[00:35:54][Song] [Song] [Song] Hey!