Ann: Vmoto's 2Q24 Market Update, page-35

Hey Lommi

That is a very elegant methodology you outlined. I like it.

I got some slightly different figures using it but I'm in the same ballpark. Just for the hell of it though, the 'figures' I got, together with the assumptions were...

1. 2024 unit sales of 15926.
2. Receipts (as opposed to total revenue) of $43m
3. Inventory based on 13.29% of sales = $5.7m
4. 50% of forecast annual Inventory 'rundown' = $5.3m

So that $5.3m would be enough to cover the $4.2 Feb and April Najing V2 'tranches' plus some for Thailand (another story maybe for another day).

That's assuming that the inventory is of a 'type' that it can be 'rundown' uniformly over 12 months in the current environment.

There is still a question mark over the effect on revenue and inventory that the cabinets etc has.

I also think that 'my asumptions' are conservative (in terms of annual sales etc) but that will do me for now.

Looking forward to the half yearly in just under 4 weeks.

Cheers