Good afternoon, everyone. Well, we plan to have the physical meeting twice a year, then online twice a year also. This is half year, so we have it physical so that we can see each other. This meeting room is in EnCo building. We have to move here because the old meeting room is now under renovation. Without further ado, may I begin? Before I leave, I would like to make some announcement. Just before, it's a music video on the anniversary of PTT, by the name of we have the two famous singers from two generations. We just hope that you enjoy it. Starting off with the key activities in the previous quarter. PTT GBU extended a cap of NGV price for taxi at 14.62 THB per kg, and for general car at 18.59 THB per kg, until 15th of September. For taxi, it's will be until 31st of December. We extend the cap, but actually we just lift up the price by 1 THB per kg. Still, at this price, it is considered a capped NGV price. Anyway, the price is lifted by 1 THB per kg. We just hope that we can help alleviate the cost of living for people. For PTT EP, we just won the bidding for 2 petroleum exploration blocks in the Gulf of Thailand. That's a G 165 and G 365. PTT EP holds 100% through PTT EPED, both of the blocks. PTT EP also awarded sizable green hydrogen block in Duqm in Oman, with the targeted capacity of green hydrogen as a full cycle, phase 1-2, that's for 47 years, and it would cover the solar and also wind farm. Total capacity is 5 gigawatt, and that's the green hydr7ogen block with the targeted capacity of 220,000 tons per year. We are stepping into future energy according to our vision. For G1/61 production, after we got into the site, we ramp up the production. At first stage, it is 200 MMSCFD, and we plan to reach 400 MMSCFD. We already achieved that, and the next target is at 800 by April 2025. For future energy and beyond, Arun Plus and CATL already set up a Cell-to-Pack battery assembly plant. We do not produce the cell for the battery, but we pack that cell into modules, so it can be used in cars. That's a 3.6 billion baht project. It's lithium battery project. The plant would be ready for the production in next year, with a 6 gigawatt hour per year, next year. We also approved the establishment of a JV company, Aionex. Arun Plus holds 51%, together with Kymco Group, which produce two-wheeler EV. Kymco is the biggest one in Taiwan, and they plan to start their commercialization of two-wheeler EVs within next year. The next one is the projects under GPSC. GPSC, together with Avaada Energy. Avaada is our JV in India on renewable project. They won the production of solar farm in India and in Thailand, together with the capacity of 202 GW. That's to expand our renewable portfolio. Also, we increase the business scope in Avaada, totaling INR 19.2 billion or THB 8.6 billion, to increase the business scope of Avaada to Battery Energy Storage System, BESS. That's beyond the solar farm. For Innobic, Innobic Nutrition just launched new supplement products, Gummy Triphala, and this is the business co-developed with? In TISTR. TISTR, with the objective to produce the products which is scientific based. You can be sure that all the products is based on the scientific evidence. For the supplement products, normally people sell on social media, for us, we think that all of the products should be based on scientific evidence. For GML, this is the company we established to do the logistics business. GML just introduced the inaugural Thai-Cambodian freight train to enhance the rail freight transport. This is the objective of PTT Group, because for the transportation in Thailand, the rail system, we have a more capacity to expand. If we invest in dual rail, then we can extend our transportation from Thailand to China. I just talked to the executive of some state enterprise who worked on the rail system. They told me that they just finished the transportation on the new road to link all of China to Europe, and that took them 10 years. After they link the rail system to Europe, then they would come back to focus in ASEAN. This is quite a good opportunity for us to expand our business in logistics and transportation, especially the rail system. For the digital bond, we successfully issued the THB 1 billion bond through the digital infrastructure web portal for the first time in Thailand, and TRIS Rating just rated us AA. For the awards and recognition, we just got the 13th Asian Excellence Award from Corporate Governance Asia, and we got 7 awards altogether. For example, Best CEO, Best CFO, Best Investor Relations Professional, Best CSR, Best PR, as far as I remember. That's from the Asian Excellence Award. Another one is the IAA awards from the Investment Analyst Association. We won 3 awards: Best CEO, Best CFO, and Outstanding IR in the resources sector. Thank you, everyone, for voting for us. These are the key highlights in Q2. For the next one, we would go into the key drivers. For the Dubai price, average in Q2 is at $77.8 per barrel. For half-on-half, it's down by 22% from $101 to $79 per barrel. That's because of the economic slowdown and the economic expansion in China, which is lower than expected. In many countries, they have been more stringent on their interest policy, that doesn't support economic growth so much. For the supply side, OPEC+, also they have their plan to still cut down on their production. On the supply side, OPEC, they would monitor quite closely. If they have the problem towards the demand, they would come back to manage their supply. We just hope that they would get together and then work it out. We have to keep an eye on their consortium. For the pool gas cost in Q2, it's at $9.4 per MMBTU. QoQ, it's down by 17%. Of all gas sources, even though the import of LNG spots increased. LNG spot price is also softened. Half-on-half is down by 3% from decreased LNG imports, even though the import volume is getting more. For petrochemical price, reference to olefin on HDPE, QoQ, it's down by 5%. For aromatics or PX, it's down by 0.4%. Mainly because for the HDPE, the demand is still down, and also we have more supply from Middle East and Europe. For PX, the demand is down from the downstream side. That's in line with the economic slowdown. Half-on-half, it's down, HDPE down by 21%, for PX, it's down by 12%. That's in line with the crude oil price and softened naphtha price, on top of the concern over economic slowdown. For the net income of PTT in Q2, that's 20.1 billion baht, down by 28% QoQ, mainly because of the higher loss on FX and lower operating performance, despite lower stock loss. Half-on-half. It's down by 25% due to the lower operating performance and higher stock loss, despite decreased loss on derivatives and higher gain on FX. For the details, our CFO would be explaining more in details. Khun Phannalin, please. Thank you very much. We're going to go into details in terms of the figures, and I'm going to present, based on three parts: revenue, EBITDA, and net income. Starting with the quarter performance, by quarter performance on the QoQ between the this quarter and last quarter. Apologies, the first quarter and second quarter, as presented by the CEO, that our performance dropped. The, in terms of the revenue, QoQ, we have higher income by 3%, mainly from the trading business, that gain more income from the crude oil sale and refined oil product sale or out-out trading. Apart from that, we also have the importation of LNG for electricity generation in country. For gas business, we have higher performance or higher revenue as well, mainly from the increased GSP from the sales volume that is higher, according to the demand of the petrochemical clients from when, in the 1st quarter, some of the clients have undergone the maintenance of their factories. For S&M, we're not showing it here, but you can see the details in the page 10 to page 8 to page 10. In the overview, the S&M or the buying and selling business, we can see that there is higher revenue as well from the electricity plant, electricity generation plant clients, and also based on the higher temperature in this season. Also, we can see the recovery of economic and also tourism activities. The IPP and EGAT power plants are adjusting their fuel use in their electricity generation, in alignment with the higher gas consumption and the LNG price in the global market as well. If we look at the PNR, PNR business, we can see that the refinery business is lower or it has dropped, according to the average selling price of the petroleum in the global market, even though the sales volume increased. We can see that for petrochemical, there is higher revenue from the olefin sector based on the higher sales volume. As I have mentioned earlier, that we can see maintenance has been undertaken for a number of clients, factories and plants. For oil and retail, we can see lower revenue and also the lower sales volume as well. For new business, we can see lower revenue as well, mainly from the GPSC that the IPP. The revenue, the revenue from IPP has reduced according to the electricity plan of EGAT. For EBITDA QoQ, we can see 11% drop or about $11.3 billion, mainly from PNR. PNR for this year, particularly for petrochemical, we are undergoing certain difficulties because we can see lower supplies, while the demand, while the demand is not recovering as much as we expect it to. The refinery business, the market GRM also reduced as well for, particularly for PTT Group. The GRM for PTT Group reduced by $8.4 per barrel to the lower level at $4.1. Also we can see that the, we have the stock loss, but the EBITDA also reduced as well. For petrochemical, EBITDA also reduced from aromatics and also olefins, from the margin of the price between the product and the raw material, even though the sales volume increased, as I have mentioned earlier. For E&P, EBITDA also reduced from the sales price and also sales volume, while the unit cost is higher. For trading, EBITDA is also also dropped as well from the unit price of profit per unit that is reduced, even though the sales volume increased. For gas, EBITDA increased mainly from S&M and the due to the higher gross profit and the reduction of full gas cost, and also the sales volume is higher. For NGV, we can see that the EBITDA increases as well from the cost of Pool Gas that is lower, and also the retail price, as notified on average, also increased as well. For the GSP, EBITDA is also higher as well, according to the cost of Pool Gas, and also the sales volume that is higher, even though the price is lower due to all the referent price of all petrochemical products. For net income, QoQ is reduced by 28% or 7.7 billion THB. According to the EBITDA that I have just informed you, we have the FX loss in the amount of THB 18 billion, and also, mainly from the unrealized FX gain, and also the depreciation of Thai baht and Thaioil and PTTEP, we can see that the income tax also reduces as well. For the derivatives, the profit from derivatives increased by THB 3.5 billion, mainly from the derivatives from PTTEP and GC. For the second quarter, for non-recurring items, we realized the net tax non-recurring items at about THB 20 million from the gas shortfall of PTT, while in the first quarter, we have the realization of net tax non-recurring items at about -THB 100 million from the amortization of the term expiration of Bongkot project. We have the reduction or discount from gas shortfall of PTT at about THB 50 billion as well. We have the BP Singapore, the profit, the income from the BP Singapore LNG at about THB 566 million. Staying on the same page here, if we look at the half year performance, EBITDA and net income reduced, as presented by the CEO. The revenue decreased by 9% across all businesses due to the sales price that has reduced and also the sales volume for petrochemical as well. The gas business itself also, it also dropped as well. The gas, the transmission tariff also reduced. If you can remember that the ERC has adjusted the tariff effective from August of last year. For GSP, the revenue also dropped from the lower sales based on the lower supplies in the Gulf, and also we have the local shutdown of some petrochemical plant in the first quarter. Even so, the S&M itself, we can see the higher revenue from the average sales price of the gas, mainly from the IPP and EGAT clients, based on the higher temperature and also the hydropower plant also produce a lower electricity or a lower supply. We can see higher revenue in the NBI from our investment in the Lotus Pharmaceutical since last year, in the second quarter. Also, we are now commercializing lenalidomide in the U.S. market from September of last year, and we can see the higher revenue from new business. For EBITDA, EBITDA has dropped by 39% or THB 127 billion, mainly from PNR or from lower EBITDA of PNR, and from $13.8 per barrel to $6.3 per barrel for PTT Group. We can see the stock loss. The first half of this year, we can see the stock loss is at about THB 10 billion, while the latest half of the year, we are making profit at about THB 4.7 billion. For petrochemical, we can see EBITDA has reduced as well, mainly from the olefins group, from the price margin between the product and the raw material, and also the sales volumes from the maintenance of plants as well. For gas, EBITDA also dropped as well, and we can divide that into the GSP EBITDA of GSP based on the higher Pool Gas cost. The average sales price of has dropped. For TM, we can see that EBITDA has dropped as well from the adjustment of the transmission tariff. For S&M, EBITDA increased based on the industrial clients and higher average price, and NGV EBITDA is also higher as well, based on the adjustment of the sales price and also higher sales volume. The higher sales volume is actually a minus factor because we still see loss. For new business, EBITDA increased from the realization of the higher revenue from pharmaceutical products and the pharmaceutical business. Also we can see the performance of GPSC and SPP that is also higher in alignment with the FT. For net income, income has dropped by 25%. Apart from the EBITDA that affects the overall net income, we can see that the financial cost of PTT Group also increased by THB 5.6 billion. We can see that we entered into a loan agreement, and we are bearing the business, the interest burden, that is higher as well, and the global high rate as well. We can see loss from derivatives by THB 83 billion. Mainly last year, if you can remember, we also see loss from derivatives in the significant amount as well. For this year, the loss is not that significant, and we are affected very minorly in this regard. For the FX gain, we can see the FX gain at THB 9.5 billion from the lower depreciation rate of Thai baht comparing to last year. Income tax also reduced by THB 19 billion as well from the lower performance. For non-recurring items, for this half year, we realized a net net tax non-recurring item, according to the proportion of PTT EP, at about THB 7 million, mainly from We can see the discount from the gas shortfall at about THB 70 million, while last year, we can see the loss from the non-recurring items at about THB 552 million. This is the net between the discount on the gas shortfall of last year at about THB 1.5 billion, and we also have the profit from the selling of Ichinoseki of GPSC at THB 350 million. We also have the expense on the tax from the sales of GPSC sale shares at THB 2.1 billion, and impairment of the coal mining project from PTTGM at -THB 440 million. If we look at the pie chart just a little, we can see that if we look at the contribution in terms of revenue and EBITDA from each of the business sector, we can see that there is not much change. For the net income, normally in the circumstance, most of the time, we can see contribution from E&P at about one third of the entire net income, and PTT at about one third as well, and PNR at about one third. With the current situation, that PNR itself is not doing very well, we can see that E&P is now the major contributor to the net income. This is. I can say this is the beauty of PTT, that we can actually stabilize our net income. Even though downstream is not doing well, upstream is not doing well, but in the overview, we are doing quite good. Now the PTT EP is our major contributor at the moment. Now look at the waterfall. I would like to present to you the QoQ first. You can see that the net income, as I have mentioned, that we can see the drop by 28%. Even though without the extra item, it's still at 28%, because we have very minor extra item at about THB 20 million. The effect from the net-- the reduced net income, we can see that this is a result of the net margin, so this is excluding the stock gain loss at about THB 1.3 billion, and this is from all business sectors, P&R, E&P, and others as well. For the gas business, we're doing better, particularly for S&M, NGV, and also GSP as well. For the stock loss, we can see the positive impact at about 2 billion baht, because in the first quarter, we can see that there is a stock loss at about 1.6 billion baht, but for the second quarter, it's at about 4 billion baht. OpEx, we see the rise at 299 million baht from the PR, the recruitment of public relation officer. For depreciation, we can see that it is a positive impact at about 2 million baht as well. Apologies, 200 million baht, mainly from the PTT EP, with the termination of the Bongkot plant. The depreciation that is being calculated has reduced. For other income, this is a positive impact as well. We can see the 1.2 billion baht, because we have the interest, higher interest. While in the first quarter, we have the profit from the adjustment of the accounts at about THB 1 billion, while we have none of that in the second quarter. FX and derivatives, we can see that this is a negative impact, and it reduced our net income by THB 1.4 billion. For the second quarter, we can see that the Thai baht is depreciating comparing to the first quarter, and the derivative gain is increased by THB 1.5 billion. For interest in CIT and non-controlling interest, this is a positive impact, that increase our profit at THB 1.6 billion. Mainly this is from the payment of taxes that is lower at about THB 9 billion, and NCI also reduced by THB 8 billion as well from the low performance. This is the waterfall. On page 8, 9, and 10, you can see that this is the details of the price and volume. I think that we can look through the details of this piece of information. Now going into the financial position, if we look at the total asset, the total asset is increased slightly by about 0.2%, and this can be divided into cash and short-term investment. This is on the rise by THB 8.5 billion, and this is from the operation of PTT and also the sales of coals as well, and we can see that this provide us with more cash. For AR and other current assets, this, we can see the drop at about THB 100 billion, and this is from the compensation from the Oil Fund at about THB 70 billion. The asset that we hold for sale for the coal business also reduce this figure as well. For the non-current asset, the other non-current asset, we can see that this reduced by THB 8.5 billion... THB 7.5 billion. This is from the asset that is waiting amortization from the end of the Bongkot pl- project. Others, we can see that the PPE, this is the increase from a G1/61 and G2/63, and also other construction project from Thaioil, and also other subsidiaries in the group as well. For AP, looking at the AP and other liabilities, we can see that this dropped by THB 5.8 billion. This is as a result of the derivatives and also the trade receivables and trade liabilities. For the interest-bearing debt, this is higher slightly at about THB 5 million from the long-term loan, and also the higher derivative, higher bonds of the PTT group as well. Looking at equity, we can see that equity increases mainly from the profit, the half-year profit at THB 4.7 billion, and also the dividend, the paid dividend at about almost THB 20 billion. Also, we have the non-controlling interest that is higher at about THB 1.4 billion, mainly from the net profit of the subsidiaries that is higher. Looking at the financial ratio, we can see that net debt to EBITDA at the end of the second quarter is slightly higher from 1.71 to 2.09. This is higher, a little bit higher than the policy, mainly from the EBITDA that is lower, but we expect that this will be only temporary. If the situation improves, the petrochemical circumstance improves, the EBITDA should also improve as well, and Net Debt to EBITDA should be within the range of our policy. If we look at Net Debt to Equity, we can see that we remain strong, reducing from 0.55 to 0.48. For the cash, the cash flow, the half-year cash flow of PTT Group, comparing to 31st of December, we can see that the cash flow at the end of June, Apologies, we have at THB 340 million. At the investment activities, we can see that there is an investment of THB 5.9 billion. Mainly this is the investment of PTTEP, and also investment in other Thai Oil GC, and also other subsidiaries within the group. For financing, this is the paid cash flow net at about THB 6.3 billion, and we have financial costs paid at THB 2 billion. Apologies, THB 20 billion. The repayment is at about THB 12 billion. For half year, we have Apologies, THB 58 billion increase in cash flow for cash in, we can see that the cash flow has increased. Thank you. Now to the outlook. Looking at the economic figures, world GDP is increased by 3%, which is lower than last year. My opinion is that if we have 3, then it's still acceptable. For the negative impacts, we all see that the economy in U.S., in Europe or in China. ...Now everyone is looking at, at their economies. If the economy are not so good, then it would be impacting into Thailand as well. For the debt level, it's still high in many countries. Also, the world is now foreseeing the food crisis because of the climate change, the war between Russia and Ukraine, which is still continuing and would not cease very soon. These are the negative impacts on the economy. For the positive side, service sector and the tourism sector is getting better. The pandemic, the COVID-19, it is out of the crisis status already in all countries. Now we have to look into the economic stimulus in China. If their measures to stimulate economies is appropriate, then it would help strengthen the economy in the world. To the U.S., as far as I keep an eye on them, they increase the interest rate, but still the employment rate is quite acceptable, and that reflects the consumer confidence as well. It depends on Fed, how can they manage and curb the inflation rate? If the economy is not slowed down as expected, then they have to adjust that plan again. To Thai economy, last year's, the growth is 2.6%, and we just hope that this year everything is gonna be better. Just lately, Q2, the NESDB said the growth is quite low. They try to adjust it higher compared to last year's 2.6%. After the 22nd, we just hope that the situation in Thailand is getting better. Still, we can see some positive factors like tourism growth, the higher number of tourists coming into Thailand, and also the ability to curb the inflation rate in line with the lower price of oil, consumer growth, investment growth. If there is nothing unexpected, we just hope to see the better economy in Thailand. Still, we have to keep an eye on the import, export. Now, the export number is quite good. We also have to keep an eye on the interest rate declared by the BOT, the Bank of Thailand. Household debt, which is still quite high among the low-income population. To the price, gas price, LNG, Henry Hub, this year, we expect to be down at around $2.5-$2.9 per million BTU because of the lower demand in the US because of economic slowdown. For the Asian spot, LNG, price is down to at around $12-$17 per million BTU, as the natural gas reserve in Europe and Asia is still high because of the concern last year, so people stocked quite high inventory. For the demand of the gas in Europe, it is down according to the measures of European Commission, the EC. They turn to support more on solar farm and wind farm. For the economic in Europe, still the economic is slowed down. For the positive side, demand would be increased in China after their economy recover. With economic recovery, the measures from the Chinese government, how effective it would be, would affect the growth in the future. Also the high temperature in Asia, that would help boost the use of gas. Russia. Russia, they also cut down the gas import to Europe, that would reflect on the supply in the market. For Dubai, the price is down, expected to be around $78-$83 per barrel. Demand is still pressured by economic concern. However, as previously explained, we have to keep an eye on China, how can they build up the demand in the second half of the year? For the OPEC, also, they try to monitor the price of oil. Just recently, they just got together to cut down the production, like Saudi Arabia. They cut down more voluntarily 1 million barrel until the end of September. Russia also cut down their export, 500,000 barrel per day. In September, it would be 300,000 barrel per day. Fuel oil, it would be down according to Dubai price, and Singapore GRM, it's down to around $6-$7 per barrel, mainly from increased supply. After last year, the refinery just shut down, but now they already come back, and still there is some new supply from the Middle East into the market. For the positive side, oil demand would be picked up in the second half of this year from the driving season in the US. These 2 months, if we look into July and August, the price is gaining momentum. For the US driving season, US oil reserve is down, lower than expected. These recent years, the price is gaining its momentum back. For petrochemical, price is not so good, in line with the low demand on top of more new supply into the market. Petchem price would not be so lucrative. The average selling price would be down, mainly from G1/61, G2/61. The price that we got when we acquire, it is quite low. Because we want to have a more volume, so we have to pay quite a high price. For the selling price, the global price is down compared to last year. However, PTT EP still maintain the unit cost at the competitive level. For the gas business, demand would be up, especially according to more economic activities in Thailand, and also because of the hot weather, that would increase the demand and more consumption. For the gas, Gulf gas is expected to be produced higher at 800 MMSCFD by next year. For the capacity of the GSP, it would be up to around 80% of the capacity. For the turnaround plan, it would be less than last year, and also for the U-R ate, it's gonna be higher as well. Pool Gas, Pool Gas costs would be down in line with the spot LNG price. For the traders, they would have more margin because the lower Pool Gas and the higher selling price. We still gave the subsidies as usual. For the oil business, OR, the figures is picking up according to the better economy. For the PNR refinery, as previously explained, Singapore GRM is down. On the brighter side, the crude premium also would be down. Because of the uncertainties of the Russia and Ukraine war, there are a few more US dollars on the premium rate, we cannot realize the expected figures. This year, we expect that the crude premium would be lower because of less uncertainties. For the utilization rate of PTT Group, it would be higher. For petchem, price is pressured from lower demand and more new supply. The margin is very, very thin. For GPSC, consumption is getting better. The margin is also getting better, in line with the reduced price of fuel. Future Energy Arun Plus, they targeted to expand the EV charger within this year to be 3,850 units. OR also, they target to have 800 EV charger stations. If you buy the EV, you can drive up north or down south to very, very far, because for the station, it would be world nationwide to deliver the services. OR would announce that by the end of this year. For Beyond, performance would be better with the recognition of Lotus Pharmaceutical, our JV. We would gradually COD for the new products into the market, like plant-based protein and the new pharma nutrition products. Now to the upcoming projects. Number five pipeline, phase one and two and three already completed. Phase two under the construction to be COD this year. GSP number seven, to replace GSP number one. GSP number one is quite old now. The engineer team is quite capable. GSP number one still is alive until now, and that's over. It's very, very long. Now, GSP number seven would replace GSP number one with a capacity of 460 MMSCFD. It's expected to finish in Q1 of next year. For the Olefins 2 modification plant project, COD would be Q3 of this year, and this would add value and to increase the feed flexibility of the project. For Beyond plant-based protein project would be COD, Q3 of this year. For the EV value chain Horizon Plus, JV with Foxconn, that's Q3 of this year. EV value chain, it's battery pack focused on energy storage. That's according to the plan to finish in Q4 of this year. For CATL, the Cell-to-Pack battery production plant, the customer base is the EV manufacturer. So we can talk to these EV manufacturers, many brands, to supply our battery packs to them. CATL would be COD next year. For renewable energy, the solar farm is under construction as planned. We just think that a renewable of 12,000 megawatts can be achieved quite easily, so we might be adjusting our target to be more challenging. Apart from India, the offshore wind farm in Taiwan, it's under our pipeline to be COD next year. For the turnaround-