[Non-English content] Firstly, Mr. Jackie Chang, the President of Delta Electronics (Thailand). [Non-English content] Secondly, Miss Nipaporn Jiarajareevong, Chief Financial Officer. [Non-English content] My name is Anchalee Jieratham from Investor Relations. [Non-English content] Mr. Jackie Chang to begin the presentation for today. สวัสดีครับ Welcome to join our Q3 2023 press conference. Today I would like to give you a bit more background of the executive summary, and then we'll go through the detail of the presentations. First of all, I think is the Delta Thailand has significant growth and compare with the Q3 2022. The Q3 2023 result is actually having the growth in sales 29.2%, and also the gross profit 25.3%, and the net profit 32.1%. Despite the more resilience in the global economy during the first half 2023, the global outlook remain weak with risk like the slowdown in China and the inflation. Nevertheless, Delta still sees a continued market demand for essential products and the energy-efficient solutions, such as the Data Center, telecom, power, and the EV-related business. This is also in line with the global e-mobility and energy-efficient, low carbon trend. In October, we also see the IMF has been forecasting global growth slowed from the 3.5% down to 2.9% in 2024. Quickly look into our business outlook. Like what I mentioned, the global economy seems that all look down slightly for 2024 in the economy. I think the situation is quite obvious, which is most of people knowing about that. Also in the SCB also have the downgrade of the Thai economy growth as well from the 3.9% down to 3.1%. Due to many lower than expected outturn in Q2 and continued export contraction. Despite all these uncertainties from the global economies and the lacklusters and Thailand performance, Delta still see there some of the healthy growth potential in our product in the global customers as well, which will support the global trend like e-mobilities and digitalizations, like, including the data center, telecom, and also EV charging infrastructure as well. If we quickly look into the different country and the regional point of view, in Thailand, I think we are not having that significant growth compared with the industrial automation. EV chargers charging businesses also have some slight decrease compared with the last quarter, and due to some of the major projects which have been delayed. In the meantime, we also launched the latest DC Wallbox, which is 50 kW charger. I believe this will be very nice and unique, and could be wall-mounted product in Thailand market. In India side of it, Delta India has slight growth in the overall year-to-year basis about 9%, but compared with the last quarter is slight decrease. The major contribution is also mainly from the telecom power and the data center power supply business. The EV related revenue also continue to growth. Look into the Southeast Asia and the Australia, New Zealand side of it. I think is the overall Southeast Asia telecom and the data center business has the slightly grow a bit more on the Q3 2023, and compare with the last quarter. But year-to-year, we have about 37% growth. While the major data center projects contribute to the growth, some of the telecom projects and some of the data center projects have been slightly delayed. Australia also have a very good growth in Q3 2023 compared with the Q2, and is about almost 200% increase on the year-on-year basis. The main contribution is the data center and the telecom business. From the European side, Delta Electronics Europe Automotive Business have the revenue growth about 25% in Q3 compared with the Q2, and then more than double the revenue in the same period last year due to the strong demand. Also the industrial and medical business have slight growth about 1.5% in Q3 2023. The automotive material shortage are under control by the highly efficient supply chain management and also the close cooperation with the engineering and the procurement team. The production output for the industrial and the medical products remain high as well. Share with all the media about our awards and the recognitions. We actually recently last quarter received quite a lot of awards, like, you see, the Mahidol University. We received the CMMU ESG award for 2023. It's kind of showing our good performance on, and also, integrities of the ESG disclosure and using the ESG tracking systems. In the meantime, we also selected as a constituent of the FTSE4Good. This is following the FTSE4Good Index Series in June 2023 review by the global index providers, FTSE Russell. As a global corporate citizen, Delta Thailand is committed to the UN SDG and the RE100 carbon reduction target as well. Another two awards from the one is from the Alpha Southeast Asia Institutional Investor Corporate Award. This is the poll is conducted from January to June 2023, and based on tallied votes among 586 investors, pension funds and the hedge funds, and equity and the fixed income brokers and analysts with exposure to the Southeast Asia regions. We are ranking among the Southeast Asia top corporate according to the institutional investor poll by the Alpha Southeast Asia. We also received an award from... Voted as the Most Outstanding Company in Thailand in terms of the technology, hardware, and the equipment sectors. This is the Asiamoney Asia's Outstanding Companies Poll. Total about 7,653 votes was received and across 13 markets in Asia. It also recognized about 194 companies as being the most outstanding for their sectors and in their markets. Quickly looking to the operational developments and we continue to do our sustainable developments and in the collaborations with the Minister of Industry and the Department of Industrial Promotion to host the Delta Angel Fund for Startups 2023 awards ceremony. This year also included the MOI also included the industrial fair to promote the sustainable development. Both event was held at the Delta head office, which is in our Plant 5, with the Delta awards of the total THB 5 million in corporate sponsored fund and the top ten teams. The top winner is get THB 1 million as for the company called Bionex. By 2023, Delta has been provide over THB 28 million of funding almost 200 top winning teams to support the commercialization of the smart industry and the energy related product in Thai market. The Delta Angel Fund for Startups is a key pillar in the local innovations and the Thailand 4.0 development. In terms of the business development side, we also jointly with the Land and House Public Company Limited announced a partnership to implement the Land and House Air Plus 2, which is for the supporting on the indoor air quality innovation and is powered by the Delta's DC fan solutions for the home PM2.5 control and the fresh air supply. This Air Plus 2 innovation is powered by Delta's DC motors, fan technologies for energy saving and a high efficiency and the quiet home ventilation. The innovation also feature Delta's fresh air supply system with the excellent air flow as well, and which is a good performance up to 99.6% of the PM2.5 purification by a high efficiency particulate air filter. Delta also unveil the new DC fast charging and energy storage and the solar solutions at the ASEAN Sustainable Energy Week 2023. This is the showing up our latest product and the technologies, no matter on the solar or on the energy storage or energy management system, which is happening getting quite good response from the customer and partners. We also highlighted the smart EV charging infrastructure solutions in three main sectors, including the EV charging solution, solar inverters solutions, and the energy storage with the management solution, which I think it will be unique and necessary for developing in the ASEAN regions and also for sure for Thailand try to boost on the low carbon society. In terms of production side of it, Delta Thailand production revenue had a 10% in growth in Q3 2023, compared with Q2. Major contribution is coming from the automotive and the data center, power products. Delta India's key factory, Rudrapur and Gurugram, achieve total 108% of the production target in Q3 2023. The production is also increasing at the new Visakhapatnam factories as well. That's overall from the business outlook and, also the development and the operational side of it. Thank you. [Non-English content] [Non-English content] How diversified it is across the different regions in terms of the proportion. I'll take this one. [Non-English content] I'll take this one first. [Non-English content] What is our assessment in terms of the growth as well as the, key growth driver and supporting factors. This question I would like to pass to Khun Jackie. That basically. Sorry, can you screen for us? Can you hear us? Sorry, can you hear me? Yes, we can now. Could you please repeat your answers again? Okay. Yeah, I think it's for the Q4 this year is actually the outlook is getting more and more unstable because there are many different what we so-called black swan is showing in the market and impacting or influencing the overall business outlook as well. You probably most of us know that there is the kind of the union strike in the American side of it, so that definitely will be impacting some of the U.S. customers. We have also seen there's a war and from the different area as well. These are the things is actually making the whole situation a little bit concerned. The consumer side of it and the CapEx expenditures side of it become more conservative as well. Overall, I think it's no matter from the sum of the. Thank you. What about the outlook for 2024? Would you like to shed some light on that, Jackie? Yeah. Can you hear me? Yes, still. Yeah. I think the 2024, basically, we do see the overall trend still will be in the positive side, especially for the EV industry area and the charging infrastructure. The Data Center probably, they still have some sort of the positive growth. Overall, I think it's the whole overall market still need to be considered about any further black swan or any uncertainties happen in the market or not. Also the inflation rates of the or interest rate is still one of the major concern, but we are clearly and carefully looking into it. [Non-English content] Do we see any impact to our business and what is the measures that we are coping with this kind of risk? Mr. Jackie, would you like to address this question? I think it's for the overall situation in the whole world regarding the geopolitical tensions and wars, these sort of things. First of all, as nobody could predict what might happen after that or continuously or will become more seriously. So that part of it, what we do see is it creates slight concern from our point of view. As the potential impact to the business side of it, I think it's yes, they might have some slight impact, but so far we don't see as significant from our point of view at this moment of time. The overall, hopefully the whole situation will not evolve even bigger or worse toward the wrong directions. Hopefully these will be addressed and in the more amicable way in the near future. Yeah, this is what I think. Thank you. Chang, the next question is related to the main risks ahead for next year, 2024, and how are we planning to deal with that. I think you have already addressed that in your previous answers. Next question. What is the current order status in terms of the backlog, and what is our expectations for 2024 in this area? Could you please elaborate on this one? I think at the order side of it, currently there's not much backlog, from my point of view, because as we are already in the kind of the good supply and the demand side of it to fulfill the customer demand. That's why it also shows in the good result in our Q4 performance. Overall, I think it's like what I previously mentioned, Delta is trying, pushing very hard to make sure we have more supply chain. We're coming into Thailand and to give us the better support, to give us some of the local delivery as well. That part of it, I think is we so far have a good progress and there are more and more partners and the supplier vendors committed to coming into Thailand or at least to set up some of the local support warehousing as well. The overall, I think is we are managed better in terms of the material and the supply chain. In the meantime, we are also try to seeking the customer side of it to have some further commitment on the coming years of the business progress as well. Thank you. The next question is related to the partnership with Land and House on our solution business, whether or not Delta has any other plan to partner with some other operators. Is there any plans that you can explain here? Yeah, I think it's to provide the solution to the property developers is always our great focus, especially I think the winter is coming soon. I believe everyone will started to sense and fear about the air pollution as well. The move with the Land and House, I think is the very right way to do because it's provide you better clean and fresh air into your home and also built-in filter out the PM2.5 as well. I think it's overall, Delta is working with some more project developers and the property developer companies, and I believe they are also taking more and more on the Delta product, not only from the Air+2 we are talking about, but also we are engaging with more EV Charging Solutions and also plus some of the Building Automation solution to the clients and partners as well. We will gradually implement this into the Thailand market for sure. Thank you. [Non-English content] This one, can you please help to access? I think it's always our intention to look for the double-digit growth. Overall, that's always in our setting in the target anyway. I also want to say is the overall market and the visibility for one quarter ahead is very hard to tell now because so many different uncertainty in the market. Like what I also previously mentioned, the market trend and the development in some certain industry, it definitely will continue to move on. That part of it I think is we still, although at this moment the outlook is not that clear, but we still holding the conservatively optimistic, put it this way. Overall, I think there will be some of the market segments it's a bit slowed down or even could possibly further slower and than the expected. I think 2024 probably will be kind of the maintain into the situation to be slightly slower than what the previously predicted. From the Delta side, we're still looking for the double digit growth. Yeah. [Non-English content] I'll take this one. [Non-English content] What is the outlook for next year for this one? I'll take this one and you can add some more. [Non-English content] The progress of the new construction at our Delta Plant 8 in Bangpoo. When is it targeted for operation? The Delta 8 actually, the construction is complete and now is in the decorations and also make sure all the cabling wiring trunking is in place. Basically I think as we could we start from November we will start moving some machinery in and to start to set it up and full operation I would say no later than end of December this year. For the official opening we are trying to find out a proper date for coming next year to have the opening ceremony. Yeah. [Non-English content]