Management Discussion and Analysis Quarter 2 Ending 31 Jan 2022

                Management Discussion and Analysis

Company name                             : CITY STEEL PUBLIC COMPANY LIMITED
Year                                     : 2022
Quarter                                  : Quarter 2
Ending                                   : 31-Jan-2022
Note                                     :
March 16, 2022


Subject    :    Clarification of Operating Results for the Second Quarter and the 
6-Month Period of the Year 2021/2022
To    :      President
        The Stock Exchange of Thailand
City Steel Public Company Limited ("the Company") would like to clarify the 
revenues and operating results of the Company and its subsidiaries ("the Group")
for the second quarter and the 6-month period ended January 31, 2022, which
changed by more than 20% compared to those of last year as follows;
In the second quarter of the year 2021/2022, the Group's total revenues were THB
30.07 million, decreased from the second quarter of the year 2020/2021 that had
total revenues of THB 58.98 million by THB 28.91 million or 49.02%. The
decrease in total revenues was primarily due to a decline in demands for the
Group's products that impacted by economic recession. The Group's customers had
delayed their orders, postponed the delivery, as well as temporarily stopped the
production. Since the Group's products are capital goods, during economic
crisis, the customers are less likely to invest or increase their production
capacity. This also caused the total revenues for the 6-month period of the year
2021/2022 to decrease by THB 46.50 million or 43.57% from THB 106.73 million in
 the year 2020/2021 to THB 60.23 million in the year 2021/2022.
As a result of a significant decrease in the second quarter revenues and 
substantial amount of fixed costs and expenses, the Group had net loss of THB
1.77 million, improved from net loss of THB 3.20 million in the second quarter
of 2020/2021 by THB 1.43 million or equaled to 44.69%. And for the 6-month
period of the year 2021/2022, the Group had net loss of THB 4.11 million,
improved from net loss of THB 5.56 million in the year 2020/2021 by THB 1.45
million or equaled to 26.08%. The Group had struggled to cope with this crisis
by reducing several costs and expenses but the impact from this economic crisis
still persisted, caused the demands for the Group's products to be stagnant. As
a result, the Group did not have enough revenues to cover all fixed costs and
expenses. However, from several cost reduction measures, the Group was able to
reduce the operating loss compared to the same period of the previous year.
    Please be informed accordingly.





Mrs. Boontip Changnil
Chief Executive Officer
This announcement was prepared and disseminated by listed company or issuer 
through the electronic system which is provided for the purpose of dissemination
of the information and related documents of listed company or issuer to the
Stock Exchange of Thailand only.  The Stock Exchange of Thailand has   no
responsibility for the correctness and completeness of any statements, figures,
reports or opinions contained in this announcement, and has no liability for any
losses and damages in any cases.  In case you have any inquiries or
clarification regarding this announcement, please directly contact listed
company or issuer who made this announcement.