NKG reported surprisingly weak Q3 result with revenue slid by 9% and nearly no profit due to heavy gross margin contraction and rising interest expenses. In 9M 2018, NPAT-MI plummeted by 59% YoY despite a 22% revenue growth. As 9M 2018 NPAT-MI achieved only 53% of our full-year projection, we see downside risk to our current forecasts in our upcoming update report.