2020年6月28日星期日

Scomnet 0001神通电线Rm1.15投资







Q1净利按年增长9%市场失望?
神通电线股价急跌21%


神通电线(SCOMNET 0001)股价今日急跌,截至下午四时,跌21%或31仙,报RM1.12。
神通电线股价走势,又印证"买期待,卖事实"的市场行动,在过去两周,神通电线股价稳稳走高,市场期望其季度业绩可大放光芒。
该公司在昨日公布截至三月卅一日第一季业绩,净利按年增长9.3%,净赚409万令吉,相比去净利374万令吉。
营业额在季内达2814万令吉,相比2497万令吉;每股盈利(EPS)0.64仙,相比0.58仙。
相信是盈利增长不符合市场期望,神通电线股价快速走低,回吐过去两周大半涨幅。

💪💪业绩增长+净现金1181万,稳定性佳。派息。
市场上沒什么主题股及净利佳的股项,始终又回到手套与医疗股。
Scomnet 公司负责人预估:
 2020年净利2500万,eps:3.88sen,pe=37,股价:rm1.43
2021年净利3000万,eps:4.66sen,pe =37,股价:RM 1.72
💪好现象,站上20天均价1.16

Supercomnet Technologies致力于医疗器械市场的增长
李康秀
/
边缘马来西亚周刊

2020年5月27日17:00 pm +08

本文首次发表于2020年5月18日至2020年5月24日的《马来西亚边缘报》。

Shiue(在前面,与Hsueh在一起):今年对于我们来说绝对是令人兴奋的一年,因为医疗器械行业将继续呈现出良好的增长态势

Supercomnet Technologies摄


-A + A
当Covid-19大流行迫使许多公司将其收入模式调整为适应新情况时,一些公司将其业务多样化以包括生产与爆发相关的产品或分发Covid-19测试套件,这使Supercomnet Technologies Bhd(Scomnet)业务处于好的位置。

该组织涉足医疗行业,该行业在很大程度上不受大流行的影响,为医疗设备,电器,消费电子产品和汽车部件生产电线和电缆。

因此,尽管由于经济的暂时停滞,其一些细分市场(如电器,消费电子产品和汽车零部件)的销售量有所下降,但这已被医疗设备领域的高销量增长所抵消。

Scomnet董事总经理James Shiue Jong-Zone表示,对于在ACE市场上市的集团来说,这一切照旧。

这位73岁的台湾人在一封电子邮件采访中告诉The Edge:“医疗电缆的需求一直很强劲,但是我们客户最近的订单表明需求正在进一步增加。”

他将其归因于大流行以及其他生活方式疾病。 “生活方式疾病正在上升,尤其是在西方国家,我们的产品没有季节性。健康是始终不变的需要和优先事项。”

自爆发以来,其全资子公司Supercomal Medical Products Sdn Bhd(SMP)生产用于连接各种医疗设备的电缆,订单量翻了一番。

Shiue说:“我们目前正在开发的主要产品包括1级,2级和ICU(重症监护病房)用途的一次性医疗耗材。”

截至2019年12月31日(2019财年)的财政年度,Scomnet录得净利润同比增长55%至1882万令吉,主要由SMP推动,SMP被视为集团皇冠上的明珠。收入同比增长39%至1.227亿令吉。它将在6月报告其2020财政年度的3月季度结果。

自2018年4月收购SMP的其余80%股权以来,该集团自2018财年以来一直创下创纪录的收入和收益,这是其努力在竞争激烈的电线和电缆行业实现收入流多元化的一部分。 “通过这次收购,我们能够完全合并SMP的收益,” Shiue说。

在过去三年中,医疗设备部门一直是该集团增长的驱动力,而Shiue很快就不会看到这种情况。

预计医疗设备领域的收入贡献将从2019财年的50:50份额首次超过汽车领域。

他说:“随着需求的增长,预计医疗设备领域将占集团收入的65%,其余35%将来自汽车领域。”

尽管Shiue拒绝提供有关2020财年预期收益的指导,但他说:“对于我们来说,今年绝对是令人振奋的一年,因为医疗器械行业将继续表现出良好的增长。尽管我们的客户(尤其是SMP方面的客户)每年都在逐渐增加订单,但2020年对我们来说尤其忙。”

“除了现有的订购书之外,我们还收到了与Covid-19相关的新订单。这些订单需要在年底之前完成。”他补充说。

Scomnet将在纽约证券交易所上市的Edwards Lifesciences Corp和总部位于丹麦的Ambu作为其两个主要客户,这两家公司均已与该公司签署了长期协议。 Shiue表示,该集团已经与他们开展业务超过10年,并且平均而言,无论是否出现衰退,订单量每年都以5%到10%的速度增长。

“在过去两年中,我们也引起了兴趣,并获得了其他新客户。根据我们与客户共同开发的产品,我们可以说我们在未来十年内看到了增长和知名度。”他补充说。

Rakuten Trade Research负责人Kenny Yee Shen Pin预计Scomnet将在2020财年和2021财年分别实现创纪录的2500万令吉和3000万令吉的盈利,称该集团通过生产与Covid-19相关的医疗电缆而实现的盈利增长前景令人鼓舞。该集团已经看到来自欧洲和美国的订单激增。

“ Scomnet也将受益于美元走强,因为它出口了其产品的70%以上。此外,占原材料50%以上的铜[a]价格下降至
他在4月13日的一份报告中表示。Yee对Scomnet给予“买入”评级,目标价为98仙。

年初至今,Scomnet上涨了12%。该股在3月19日触及32仙的52周低位,与全球股市下跌同时,由于Covid-19的蔓延引发的担忧加剧。此后,Scomnet上扬2.5倍,于上周三闭市,报82仙,市值为5亿726万令吉。

尽管如此,股票的流动性仍然对一些投资者构成挑战。截至2019年4月1日,Scomnet由Shiue及其家人紧密持有,持有67.66%的股份。



Scomnet将在2H内推出新的医疗产品

Shiue说,该小组的近期计划是尽一切努力向其客户交付订单。该集团已拨出约700万至800万令吉的资本开支,用于2020财年。

Scomnet的制造工厂位于吉打州双溪大年。 SMP的利用率约为70%,而其针对各种原始设备制造商(OEM),汽车,电气产品和其他一般消费电子元件的其他电线电缆制造活动的利用率约为60%。
在对我们产品的更高需求的推动下,我们正在制定一项扩展计划,但我们尚未决定投资规模。

“我们正在准备一些新的医疗产品。我们的目标是在下半年开始生产这些产品。是的,我们的产品将增加。我们已经收到了这些新产品的订单。”他说。

Shiue的儿子Hsueh Chih-Yu说,该小组正在生产2类导管,并将在今年推出。

现年47岁的Hsueh是Scomnet的执行董事兼SMP的生产主管,他认为,这是集团提供创新和定制解决方案的重点,这使其在竞争中脱颖而出。

“我们的差异在于我们不是典型的OEM制造商。我们的电缆和设备已获得欧洲医疗机构和美国食品药品监督管理局(FDA)的批准。

“多年来,SMP已开发出强大的研发(R&D)功能,并在设计和定制高度复杂的原型时达到了客户规范,从而满足了北美和欧洲行业领导者的需求。例如,正在开发的新产品的研发周期为三到五年,使用寿命超过10年。”他说。

“我们还是为客户生产的大多数产品的唯一供应商,我们共享FDA 510K申报文件(FDA批准)。

由于这些原因,客户倾向于坚持我们。我们的大多数客户已经在我们这里工作了10至15年。”

据《财富商业观察》报道,由于心血管疾病病例的增加,预计到2026年全球心血管设备市场规模将达到822亿美元(3,560亿令吉)。

Hsueh说,目前全球心血管设备市场由五个主要的全球参与者主导,其中之一是Scomnet的客户。

他补充说:“一次性使用器械市场是心血管市场中的另一个重要市场,到2024年,其市场规模预计将超过25亿美元。该领域的全球领先企业也是我们的客户。”该集团在该领域的增长潜力。


截至2019年12月31日,Scomnet的净现金为4614万令吉,零借贷。 Shiue说,该组织不需要筹款。 “我们现有的订单以及我们的新产品已经使我们非常繁忙。
Tp:rm 1.80
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2020年6月16日星期二

Comfort 2127 康复手套 Rm2.83投资

💪💪隆股接下来的许多公司财報都多呈不理想,受疫情,停工,消费疲弱影响下,手套,医疗保健股将呈现美丽业积,尤以手套股最佳,订单己排序至2021年底,因此市场资金将会继续投入,推动下一波的股价上升期,買入2127:
Comfort:
Profit margin:.10.7%

💪💪comfort

Q1=2.8sen
估算
Q2=3.4sen
Q3=3.4
Q4=3.4
净利76m
2020全年eps=13sen
Pe =30
Stock price=RM 3.90

Comfort
Net loan:26M
多兩个季度就是净现金公司了。
现金:68m







个人分享,買卖自负。

转贴] [COMFORT GLOVES BHD:收入增加,生产率的提高产生了较低的生产成本] - James的股票投资James Share Investing

[COMFORT GLOVES BHD:收入增加,生产率的提高产生了较低的生产成本]
与20年第一季度相比,当前季度收入增加了3,300万令吉或27%,主要是由于销量增加。 21财年第一季度的税后利润较20财年第一季度增加790万令吉或94%,主要是由于收入增加,生产率的提高产生了较低的生产成本。
QoQ:
与20年第4季度相比,销售收入增长了10%,主要是由于销量增加。税后盈利增加610万令吉或60%。这主要是由于美元兑马币汇率走强以及由于现有和新生产线生产率的提高而降低了生产成本。
前景:
他们对天然和合成优质特种手套的重视将继续为他们提供增长和改善的机会。集团将继续强调研发作为扩大市场产品和增加销售的关键方法。
橡胶手套制造行业的前景仍然强劲,因为向丁腈手套的发展趋势导致需求增加。随着对丁腈手套的整体需求增加,市场看到差异化的增加,导致对特种手套的需求增加。
随着近期的Conoravirus大流行,他们预计,由于全球健康意识的提高,从长远来看,手套的消费量将会增加。由于全球市场供应短缺,他们的营销团队正在利用这一机会来积极扩展他们的产品,不断扩大市场和未来增长的客户群。

Comfort Gloves - Satisfactory 1QFY21 Results

Date: 15/06/2020

Stock
 : 
Source
 : 
RHB-OSK
Price Target
 : 
3.18
Last Price
 : 
2.73
  • Maintain NEUTRAL and TP of MYR3.18, with 9% expected total return. 1QFY21 earnings met expectations. Near term sentiment may be affected by news of the US Food and Drug Administration’s (FDA) import alert. However, share price downside is limited due to strong earnings prospects. Our TP is based on 25x 2021F P/E – 30% discount vs peer average. This is to reflect its smaller market cap and liquidity to peers.
     
  • Earnings met expectations. Comfort Glove’s 1QFY21 (Jan) net profit of MYR16.3m, accounted for 38% of our FY21F. We deemed it as in line – we expect higher logistics cost from 2QFY21F. A comparison against consensus is not available due to a lack of coverage on the stock. The company announced an interim DPS of 1.5 sen (ex-date: 5 Aug).
     
  • 1QFY21 net profit rose was MYR16.3m (60% QoQ, 94% YoY). 1QFY21 revenue grew to MYR152.9m (10% QoQ, 27% YoY) due to an increase in sales volume. The quarterly increase in revenue was mainly contributed from the strengthening of the USD against the MYR. Overall, the higher revenue was thanks to lower production cost contributed from the increase in productivity of existing and new production lines.
  • Lower net gearing. As at end-1QFY21, net gearing declined to 0.08x. This is an improvement as compared to 4QFY20’s 0.16x due to a higher cash pile and larger equity base.
  • Prospects. The company expects higher gloves consumption in the long run due to rising global health awareness in view of COVID-19. It also acknowledged gloves shortage in the global market.
  • Maintain NEUTRAL with TP of MYR3.18. FY20F-22F earnings are unchanged. Although we expect the company to register higher earnings in FY21F, its near-term earnings may be weaker QoQ due to higher logistics cost incurred.
  • Risks. Downside/upside risks to our call are higher-/lower-than-expected increase in raw material prices, as well as heightened/easing competition among rubber glove players.
Source: RHB Securities Research - 15 Jun 2020
转贴:
联昌国际对手套的看法...

重点领域:橡胶手套

建议:超重

热门推荐:Top Glove(TOPG MK,添加,目标价:25.00)&Supermax(SUCB MK,Add,目标价格:9.80)
其他电话:Kossan(KRI MK,Add,TP:RM11.50)&Hartalega(HART MK,Add,TP:RM14.60)

主要亮点:
手套股的股价尤其是昨日下跌了两位数的顶级手套(Top Glove)和Supermax。我认为这是没有根据的。我还收到很多询问,询问手套柜台为何被抛售的原因,以及是否存在以下情况:i)任何根本性变化; ii)道琼斯指数走弱; iii)这些股票大量获利了结。

注释:
1)根据最近的渠道检查,手套行业没有根本变化
一个。疫苗谣言仍然存在,但没有一项超出临床试验范围。在此关头,其他一切仍在猜测中,任何潜在的疫苗都只能在明年年中批量生产(相信我,我也涵盖医疗保健库存!)。
b。临时订单的数量和价格继续增加(更多的手套制造商正在为现货订单分配更高的产能百分比),并且手套制造商的订单可见性保持稳定(12-14个月)。
C。平均销售价格仍在上涨中(平均上升幅度可能达到20财年第1季度),为准备迎接第二次Covid-19浪潮在各个国家/地区收到了更多订单。
d。近期收益前景仍然不乐观,手套制造商至少在未来2-3个季度可能会发布创纪录的利润。实际上,最近的声音表明某些公司的某些盈利预测过于保守。

2)如果我们只是放大昨天的股价数据,马来西亚的手套制造商的股价将遭受大幅下跌,而中国的手套制造商的股价则昨天上涨了7-10%。新加坡的手套生产商今天小幅下跌了1.7-1.9%。根据过去7天的数据,马来西亚手套制造商是仅有的负股价表​​现(-7.3%至-32%)的公司,而新加坡手套制造商的股价仍略有升值(+ 0.4%至+ 5.3%) 。

3)事实上,我们了解到,考虑到Covid-19第2浪的问题,要求更多手套订单(即时和重复)的咨询人有所增加。人们担心,随着全球范围内学校和企业的重新开放,发生了更多的Covid-19案件。我们已经开始看到中国,美国,俄罗斯,巴西等地的案件数量激增。(虽然马来西亚情况趋于正常,但全球范围内Covid-19案件的确在增加而不是减少)

4)根据我们的盈利预测,手套股票的估值已回落至我们认为非常具有吸引力的水平(TOPG的交易价格为13.6倍的CY21市盈率,而SUCB的交易价格为19.7倍的CY21 PE。 21财年净利润同比增长至少200-300%)。我认为手套类股票具有吸引力,因为它们的市盈率处于青少年水平,并且同比增长200-300%。

5)请注意,我们的盈利预测尚未考虑到第二波带来的任何手套增长。平均而言,我们对手套公司的盈利预测已计入20财年末的平均售价,与21财年第3季度相比有所下降。向前。

6)手套的平均售价和对手套的需求会下降吗?长和短的答案是肯定的。

在H1N1期间,平均订单订购时间最长为4-5个月,而马来西亚手套制造商至少需要5季度的强劲手套需求。因此,基于超过一年以上的当前订单可见性,我们应该预期手套需求至少有8-9个季度。

虽然我们预计当手套的供需更加平衡时(尤其是当订单可见性低于4-6个月时)ASP会下降,但是我相信手套的ASP永远不会回到每1000片18-22美元。这就像预期面罩价格在2HCY19时将回落至每片18仙,而目前的价格为每片RM0.80-1.50(中国没有质量标准的口罩以每片50-60美分的价格倾销–这在手套中不可能发生)部门,因为手套用于需要FDA批准的医疗部门)。 (请记住,面罩机可以从货架上购买,但是建筑手套厂(包括生产线的安装)需要达到18-24个月的时间才能达到具有FDA批准质量的标准手套)

7)手套行业正在发生根本变化,从长期来看,这将带来积极的趋势。即更好的医疗保健意识,更多行业中更多的手套使用,更多国家中人均手套的使用更高。因此,手套的平均售价将永远不会回到每1000片18-22美元,重复使用会推动更高的消费方式。
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Jhm 0127 捷铵科技 rm1.19 投资






JHM Consolidation Bhd是一家投资控股公司。 它从事精密微型工程金属零件的制造,使用表面安装技术的电子零件的组装,汽车尾灯的组装以及发光二极管在支持3D效果方面的应用生产。 该业务分为投资控股和电子产品两个部分。 电子产品部门为公司创造了最大的收入。 公司在地理上将其产品出口到中华人民共和国,美国,英国和新加坡


(吉隆坡16日讯)捷铵科技(JHM Consolidated Bhd)今早价量齐升,截至中午112时30分,股价劲扬24.5仙或27.37%,至1.14令吉,成交量达4319万7300股。
其200天平均交易量为402万股。
大众投资银行技术分析员Lee Siao Ping今日在报告中写道,在市场疲软的情况下,捷铵科技保持韧性,并正在从其横摆中潜在突破。
“相对的强弱指数(RSI)和平滑异同移动平均线(MACD)指标在横盘时仍保持健康,并预期近期动量和趋势将持续改善。”
Lee说:“如果股价突破93仙阻力水平,将会进一步上升至下一个阻力水平,即98仙及1.04令吉。”
他补充说:“不过,若无法守住84.5仙支撑水平,则可能表明股价疲软,因此出现了止损信号。”
根据彭博社,目前该股有1个“买入”及1个“中和”评级。平均目标价为1.07令吉。
值得注意的是,捷铵科技获准延迟提交截至今年3月杪季度(2020财年首季)财务报告。延迟提交原因不详。
截至2019年12月31日止财年(2019财年),净利下滑14%至3046万令吉,2018财年报3550万令吉,营业额则从2亿6471万令吉下跌2.9%至2亿5679万令吉。
2019财年第四季净利暴跌34%至773万令吉,一年前为1175万令吉,季度营业额则降5.7%至6989万令吉,一年前报7416万令吉。
捷铵科技早前表示,已符合转板上市要求,正申请从创业板转至主板上市。
根据3月31日的文告,该公司已向大马证券监督委员会申请延长3个月提交申请,至6月30日。

个人分享,買卖自负。
目标价:RM   1.50
Roe:15
Profit margin:15.8%
Cash:5445万
Loan:5823万
 Net loan:378万
Nta:RM 0.36
没有评论:

2020年6月13日星期六

Pwrwell 0217 佳电控股 Rm0.32投资

转贴:

Powerwell Holdings Bhd-改善前景
作者:rakutentrade发布日期:2020年5月27日,星期三,8:38 AM

鉴于Powerwell Holdings Bhd(“ Powerwell”)的订单稳健,资产负债表稳健且净现金状况良好,我们对其盈利前景保持乐观。我们预计随着施工活动的开展,对Powerwell配电产品的需求将会增加,特别是在大型基础设施项目即将复活的情况下。建议买入,目标价为0.33令吉,基于大马工业指数的13.7倍21财年市盈率。

在过去25年的良好业绩记录的支持下,Powerwell主要从事配电产品,主要是低压(“ LV”)配电盘和中压(“ MV”)开关设备的设计,制造和贸易。产品主要提供给各个行业的主承包商,机电承包商和EPCC公司。一笔6,700万令吉的订单,有力地支持了宝威的近期盈利前景。由于配电行业与建筑活动高度相关,我们预计由于基础设施项目的潜在部署,工作流将增加。

Powerwell是唯一一家获得西门子授权的本地公司,而西门子是一家德国企业集团,在马来西亚生产和销售LV配电盘和MV开关设备,并且是全球领先的电气设备品牌Schneider在马来西亚的授权配电盘制造商和销售商。超过80%的收入来自本地市场,而其国际认证产品进一步加强了它们在印尼和越南等区域市场的影响力。

回顾一下,Powerwell于今年1月在ACE市场上首次亮相,该公司计划开发自己的“ Powerwell”品牌中压开关设备,并于2018年5月开始准备工作。今后,更多产品还将通过IEC标准认证,以增加产品的适销性。

宝威的资产负债表稳健,净现金为1,040万令吉,负债比率为0.10倍。得益于可靠的订单和预期更高的工作订单,预计未来两年净利润将实现20%以上的两位数增长。

转贴:

PWRWELL 拥有独家科技,真面目是内在价值50仙的科技股!


PWRWELL公司背景
Powerwell是一家从事配电产品(electricity distribution products)设计、制造和贸易的专业公司,拥有超过25年的经验为本地和国际项目提供配电产品。集团的所有低压配电盘(low voltage switchboards)和中压开关设备(medium voltage switchgears)都是根据建筑物或基础设施的需要定制的设备。同时,Powerwell也着重于旗下的翻新市场业务(replacement market business) 增长,以驱动营收增长。据了解,翻新业务过去贡献公司总营收的10至15%。
如今,Powerwell是一家全球性公司,它将继续为全球客户开发和创新电源解决方案。除了为本地市场供应产品,还出口至越南、孟加拉、印尼、菲律宾等其他国家。Powerwell坚守“Empowering Possibilities”的信念,也就是不断创造利于日常生活的奇迹。
Powerwell于1月22日上市大马交易所创业板,以25仙发售发售8740万股新股,筹集RM2185万。筹集资金中,
  • RM1027万将作为资本支出 - 用于购买或升级机器设备和增强公司的企业资源规划系统和硬件
  • RM387万则是作为认证开销 (certification expenditure) - 为旗下产品获得国际电气技术委员会(IEC)符合标准的认证。
  • RM362万则是营运支出
  • RM410万为上市花销

PWRWELL价值何在?
1) Siemens + Schneider + ABB的科技伙伴!
Powerwell不仅是Siemens和Schneider在制造和销售配电盘和开关设备产品方面的授权合作伙伴
同时也是ABB授权的面板制造商-自动化制造商

2) 受惠于国内即将复活的大型建筑工程
执行董事李梓鸣指Powerwell过去曾参与MRT1, MRT2和Kelana Jaya LRT项目,为它们提供配电产品,目前正竞标着LRT3项目。此外公司也会积极竞标国内即将复活的大型建筑工程的项目合约,例如Bandar Malaysia、ECRL和MRT3,这将大幅度提升Powerwell未来的订单和盈利。

3) Powerwell把业务放眼全球,不停扩张
执行董事李梓鸣说:“我们正努力开发和商业化Powerwell品牌产品。我们指定了地区经销商,打算在本地和海外加大营销力度,以增强我们的品牌意识和品牌忠诚度。” Powerwell目前已在印尼设立了代表处,并在孟加拉国、印度尼西亚、新加坡、菲律宾和巴基斯坦指定了经销商

4) 拥有独家科技,Margin高达20%,内在价值50仙!
Powerwell拥有独家科技,从以下图可看出他卖的配电产品profit margin可高达20-30%!
从财政年2019 Q3季报可见市值仅有RM142mil的Powerwell,单季营业额就高达RM26.85mil,平均profit margin高达20%,盈利和EPS双双高达RM5.24mil和1.06仙。投行根据财政年2018的EPS 2.09仙给予Powerwell PE11.9,然而Powerwell在财政年2019 Q3证明了他一个季度已经可以赚取1.06仙。
许多人以为Powerwell只是一个典型的M&E行业。我想告诉大家,事实上Powerwell拥有独门科技,产品profit margin极高,因此才被授权为Siemens,Schneider,与ABB的科技伙伴。由于公司的媒体曝光率不高,造成股价严重被低估,目前与UWC、Greatech、Frontkn、Dufu、Krono等科技股相比,PWRWELL是一个未被市场发掘的PE11科技公司!这情况和2017-2018年暴涨前的Dufu相似,虽然盈利出色但也不被视为科技股所以股价徘徊在60仙,被市场发掘后就暴涨得无极限了。
以科技领域一贯的PE20计算,PWRWELL内在价值50仙!
 

PWRWELL技术分析
从以下图表可看出RM0.240-0.245是PWRWELL的支撑区
2月3日 - 市场因中国股市大跌而出现惶恐,不过股价下跌后收盘还是保住0.240。
2月6日 - 带量反弹至0.265,现价0.245是这根带量反弹的阳K底,带量阳K底本身也是一个支撑。
2月12日 - 今天收盘股价第二次试探支撑区,收了一个十字星,下跌后出现十字星,代表股价有望反转。
“PWRWELL价值何在?”提到公司内在价值是RM0.500,因此现价买入风险报酬比很好!

欢迎加入『青苹果交易频道』
https://t.me/appleisgre

转贴:
#pwrwell
上市后首次发布亏损业绩,主要是因为计入了一次性的上市费用,达 RM 4.8mil,扣除这笔开销的话,实际税前盈利是 RM 1.8 mil (赚幅约 29.5%) MCO期间,在大马和越南的厂房停工数星期,但分别已在5月头和4月位复工。 仔细看,可见亏损时源自一次性注销,并非来自业务。不过相信明天会有一轮panic sell,如果我有票,开市我会观察,不会急着丢票,因为往往这个时候卖到的是最烂价。衡量卖压后/待股价较稳定后,根据自己的trading plan,继续持股或执行卖出。 订阅我们,掌握公司进展 👇👇 💪 Youngman Investing Sharing https://t.me/youngmaninvesting

转贴:
浅谈0217 pwrwell
https://klse.i3investor.com/m/blog/general/2020-01-22-story-h1482899494.jsp

以下为个人点评:





技术面中和,可慢慢累积。个人观点:目标价48仙
累计订单:71M
1 条评论:

2020年6月9日星期二

0163 carepls 加护手套(rm1.57)投资


转贴:
CAREPLUS INVESTOR BRIEFING : BUY RATING - Growth Investing | I3investor
https://klse.i3investor.com/blogs/GrowthInvesting22/2020-06-09-story-h1508700673-CAREPLUS_INVESTOR_BRIEFING_BUY_RATING.jsp

CAREPLUS投资者简报:买入评级
作者:MohdHafiz发布日期:星期二,2020年6月9日,6:36 PM

Careplus(投资者简报)

营业额很容易超过5亿令吉,而目前的设施利用率将回升至90%(2019年因工厂改建和改进而中断),而2019财年为83%(2018财年为88%),而平均售价增幅很容易超过20% 2019。

您可以买入价格高达170的股票。基于PE15到18的价格,我将平均ASP增长25%,从223到267。但是,如果增长20%,我的估值将是180到216,CAREPLUS投资和投资催化剂优点••

完成以2700万令吉出售Ansell的全资子公司Careplus(M)S / B(CMSB)的50%股权,从而改善其在2019年12月31日的净流动负债状况••以50份中的150%出售CMSB的净资产价值百分比,并实现了约1,798万令吉的出售利润,即2020财年第二季度的每股盈利3.07森。

••扣除2千050万令吉的额外股本用于CMSB的再投资以认购新股来扩充资本支出和CMSB偿还1200万共同贷款后,来自Careplus的现金净收益2850万令吉。

Careplus正在进行的结构转型可能会转化为可持续的收入增长。 •

利润率扩张和利润率提高:由于平均售价高(由COVID19爆发推动),较低的原材料成本和更高的制版利用率支撑•

•2019财年工厂的改造和改善将使工厂利用率从2019年的83%提高到近90%•

与Ansell的合资企业:利用Ansell的全球足迹和市场领导地位来维持长期收益增长Careplus与CMSB的Ansell(全球最大的外科手套品牌)合资企业(以50:50的比率)显着改善了Careplus的前景,收益增长也随着增长而加速到2020年底将有9条新生产线投产,到2021年将再安装2条生产线。

合资公司将把产能从41亿个PC增加到2020年底的56亿个,除非有任何中断,否则到2021年底将达到65亿个。到2022年,新的9条生产线将使产能增加52%:预计到2022年,产能将以每年22亿个/年的速度增长,达到总产能63亿个/年(2019年为41亿)•

转向提供更高价值的产品:增加生产组合和更高价值的外科手术手套,约占总收入的30%,而2019财年为5%

-关于Careplus的见解-

利润预测

不用担心第一季度的结果,有400万令吉的厨房储备被注销,我相信这是不会发生的。指经营活动产生的现金流量有400万被冲销。

如果没有注销400万令吉,由于平均售价的提高,他们将在第一季度实现600万令吉的利润。

营业额很容易超过5亿令吉,而目前的设施利用率回升至90%(2019年因工厂改建和改进而中断),而2019财年为83%(2018财年为88%),而平均售价增幅很容易超过20%到2019年。以20%的利润率,他们可以达到1000万(每股收益3美分)。若本益比为20,则其股份的价值为RM 2.40。

他们前进的收入将比正常情况好,并且至少获得1000万的利润。观看第二季度的报告指南。

-泰勒-
转贴:

Careplus QR Profit RM5,181,000

On 5 June 2020, Careplus release QR 31-Mar-20.
Profit is RM1,141,000. EPS is 0.21 sen.
If look inside report, see inventories written down is RM4,040,000. This cannot be find inside notes but is in cash flow statement. I do not know why is not mention in the note 7. Normally is mention there.
If remove this write off, profit for quarter is RM5,181,000. This is quite good. Careplus always is make loss company. And the profit likely is March. Jan and Feb still quiet about Covid.
If use this profit, EPS for quarter is 1 sen.
How much is profit April, May and June? Should be continue improve.
Will Careplus go up or down on Tuesday? I do not know. Different people different idea about profit result. I just show hidden item in report only
Careplus QR赢利RM5,181,000
作者:i3Value发布日期:2020年6月8日星期一,5:34 PM

2020年6月5日,Careplus发布了QR 31-Mar-20。

利润是RM1,141,000。 每股收益为0.21仙。

如果查看内部报告,请查看已记录的库存为4,040,000令吉。 不能在票据内找到,但在现金流量表中。 我不知道为什么在注释7中未提及。通常在那里提及。

如果取消此注销,本季度的利润为RM5,181,000。 这很好。 Careplus始终是亏损公司。 利润可能是三月。 1月和2月仍然对Covid保持沉默。

如果使用该利润,则本季度每股收益为1仙。

4月,5月和6月的利润是多少? 应该继续改善。

Careplus在星期二会涨还是跌? 我不知道。 不同的人对获利结果的看法不同。 我只在报告中显示隐藏的项目

转贴:

GLOVES SECTOR - THIS IS MY REAL TARGET PRICE FY20-FY21

WANT TO BE A KIM'S STOCKWATCH GROUP? 
Click here https://www.telegram.me/kimstock for more details. 


 
Date : 09 June 2020
 
 
STOCK 1 TOP GLOVE CORPORATION BERHAD
 
Current Price : RM16.38
Target Price : [ TP5: RM25 - TP6 RM30 ]
Last target : RM35 (Mac-2021 - Last target depend on COVID-19 situation)
 
 
* All target prices has been revised from 6.05 - 6.10 Buycall.( Old Target )
* My previous blogs : 
01. TopGlov Kim01
02. TopGlov Kim02
03. TopGlov Kim03
04. TopGlov Kim04
 
 
 
STOCK 2 HARTALEGA HOLDINGS BERHAD
 
Current Price : RM12.20
Target Price : [ TP5: RM18 - TP6 RM23 ]
Last target : RM30 (Mac-2021 - Last target depend on COVID-19 situation)
 
 
* All target prices has been revised from 6.38 - 6.40 Buycall.( Old Target )
* My previous blogs : 
01. Harta Kim01
02. Harta Kim02
03. Harta Kim03
04. Harta Kim04
 
 
STOCK 3 KOSSAN RUBBER INDUSTRIES BERHAD
 
Current Price : RM8.98
Target Price : [ TP5: RM12 - TP6 RM18 ]
Last target : RM25 (Mac-2021 - Last target depend on COVID-19 situation)
 
 
* All target prices has been revised from 5.05 - 5.10 Buycall.( Old Target )
* My previous blogs : 
01. Kossan Kim01
02. Kossan Kim02
03. Kossan Kim03
04. Kossan Kim04
 
 
 
STOCK 4 SUPERMAX CORPORATION BERHAD
 
Current Price : RM8.88
Target Price : [ TP5: RM12 - TP6 RM15 ]
Last target : RM23 (Mac-2021 - Last target depend on COVID-19 situation)
 
 
* All target prices has been revised from 1.50 - 1.60 Buycall.( Old Target )
* My previous blogs : 
01. Supermx Kim01
02. Supermx Kim02
03. Supermx Kim03
04. Supermx Kim04
05. Supermx Kim05
06. Supermx Kim06
07. Supermx Kim07
08. Supermx Kim08
 
 

Additional my selected Small Gloves as follow :
 
STOCK : HLT GLOBAL BERHAD
 
Current Price : 0.88 cents
Target Price : TP1: RM1.20 - TP2 RM1.50
Last target : RM2 (Mac-2021 - Last target depend on COVID-19 situation)
 
 
 
*This stock need to wait next quater result release then I will comeback to write/ideas.
* Short-term play not same as my Big-4 gloves. Take note and trade with cautiously.
 
 


WHAT KIM SAID ABOUT GLOVES SECTOR NOW?
 
BULLISH & UPTRENDING 
 
1. "TOMORROW FLY TO RECORD A NEW HIGH AGAIN"
 
1. - (Covid-19) 7,000,000 mil hits global cases. Heading to 10M.
2. - (Covid-19) 2,000,000 mil  hits Uncle Sam cases. Heading to double.
3. - KLCI flying with 40 intensive worth 35B.
4. - CMCO extended to 30 August by Govt.
5. - Top Glove done (ESOS) big amount. Refreshing and will lead all gloves movement.
6. - IB's will revise their new target after they done 2 days tricky. Accumulated lowest.
7. - I say time to aggressive fly. You wont get cheap prices on Gloves sector this June. Playing high target on gloves this week also awaiting excellent and superb Top Gloves result on Thursday.
 
 
2. "GRAB THIS OPPORTUNITY IN JUNE. NO CHEAP PRICES ON JULY"
 
1. - Expect Covid-19 heading to 10,000,000 within another 3 months
2. - Expect Covid-19 heading to 5,000,000 within another 3 months
3. - Most Gloves cw's not expiring on June. So my predicting is another flying call warrants in the making
4. - Business allowed  to operate full capacity soon. Its mean Government had allowed rubber glove industry to run at full capacity and service providers as well as raw materials and packaging suppliers in the rubber glove industry can continue operating. So the production can fullfill all ordered and demand received. Its good move because Malaysia is expected to produce 220 billion pieces of rubber gloves this year.
 
 
3. "MARGIN LIMITING/CAPPING BY IB'S"
 
 
1. - Good ideas from IB's by capping the margin account.
 
I am forsee start from June all gloves movements will going stablize and continue to be next rally. Dont worries about "Correction" because correction always did when you are panics selling with no reason such like "margin capping issue". So on 1st and 2nd June, from my view, I just base on 2 big gloves. Top Glove and Harta. By looking at trend sell & buy. Both are defending at certain level, where i can see both are creating new supports and can't go lower. With Harta last minute big push gapped -12 bids. So i assume next day new support will be created again. So Harta will standback at @13.0 and Top Glove @15.0. However impossible the force sell to stop immediately but it still. So 70% of my view, I am forsees nextday will have a balancing before the force sell to stop.
 
 
2. - Investment banks (IB'S) could have done this for two reasons :-
 
Firstly, they feared glove overvalued. By then trying to avoid losses later by margin calls
Secondly, they are losing too much money in issuing too many glove call warrants. As call glove stocks continue going up while they are suffering tremendous losses from call warrants.
 
So, from my view and my side they are playing something now, but I am not saying they are cheating but 'smarting". Since Malaysia is a free market they should let free trading decide by limiting margin only showing banks are now weak and vulnerable."Maybe".
 

3. - What a Margin Capping's this? Just an example. Lets see 2 Ib's for study :
 
A.  MayBank Investment Bank Bhd (Top Glove)
     Target Price : RM20.00
     Margin account Capping at RM9.41
 
B.  RHB Investment Bank Bhd (Supermax)
     Target Price : RM10.50
      Margin a/c Capping at 35% or RM5.00
 
So, I belief they issued too many European structure call warrant especially Supermax and Top Glove call warrant and never expect also imagine Supermax and Top Glove. Both gap up and flew sky high in a very short time and caught them off guard. So they take immediate action with tis new rules.
 
 
4. So, for Me as I said :-
 
1. "Yes, It's Hot; But No, Your Gas Tank Won't Explode If You Fill It Up"
2. "When you put the tight CAP in hot bottles. The explode will come"
3. "Spectacular example, simply put some dry ice in an empty soda bottle, screw the cap on tightly, and stand back. As the dry ice sublimates, the bottle will fill (and then overfill) with CO2 gas. When a critical pressure is reached, the soda bottle will give out, and the makeshift pressure bomb will detonate"
4."Boom for Gloves in the making waves 3"
 

WHAT A KEY POTENTIAL FOR DOWNSIDE RISKS? AND WHEN YOU SHOULD WORRIES YOUR HOLDINGS?
 
 
1. Trading at a historic high PER of more than 40x for the industry
2.  Implementation of wind fall tax by the government
3.  A successful development of vaccine and must official announcement by WHO
4.  A sharp decline in global daily covid-19 cases
 
 

 
 
THIS JUNE - I WOULD LIKE TO RECALL ABOUT HARTALEGA
 
 
Hartalega Holdings Berhad (HARTA) is an established Malaysia-based investment holding company founded by Kuan Kam Hon and is headquartered in Kuala Lumpur. HARTA is primarily involved in the business of producing latex and nitrile gloves. It has grown to be the world’s largest nitrile glove producer with the capability of manufacturing 34 billion gloves per year and with plans to progressively expand to 44.7 billion gloves in 2020.

HARTA was listed on Bursa Malaysia’s Main Market on 17 April 2008. The group has continued the technological innovations that help to ensure their gloves are manufactured with equal emphasis on efficiency and quality, a key reason why they are trusted as the Original Equipment Manufacturer (OEM) for some of the world’s biggest brands.

The company has a workforce of 7,800 people based in 8 dedicated manufacturing facilities. It has won many prestigious accolades in both local and international front. The latest was in 2019 for Gold in Export Excellence, Exporter of The Year and The Edge Billion Ringgit Club Corporate Awards. It has also received recognition from Forbes Asia, KPMG and Asia Money.

HARTA provides a comprehensive range of products known for its superior quality and critical protection. Examples include nitrile gloves, latex gloves, surgical gloves and laboratory gloves.
As the most automated glove production company, its automated process not only improves efficiency but also eliminates product contamination resulting from human contact. HARTA produces soft stretchy nitrile gloves that emulate the properties of natural rubber latex. The nitrile gloves also eliminate the chances of protein allergy risks that are usually associated with rubber latex.

All gloves produced by HARTA are purchased by healthcare practitioners, food processing workers, lab workers and other professionals. Presently, HARTA’s export markets span across North America, Europe, Asia Pacific, Africa, Russia and Middle East.
 
 
 
 
World Live StatsTotal Cases7.146.770Total Deaths407.412Total Recovered3.486.497
 
 
 
 
 
FINANCIAL REVIEW
 

 
Based on past 5 financial years’ revenue chart above, its revenue grew year-on-year (y-o-y) from FY2015 (+3.51%), FY2016 (+30.75%), FY2017 (+21.59%), FY2018 (+32.04%) to FY2019 (+17.52%). On a CAGR basis, HARTA has grown 20.62% based on 5 years. The group’s strong revenue was achieved on the back of improved sales volume which grew by 10.1% year-on-year to 28 billion pieces of gloves. The US and European Union remain key export markets accounting for 54% and 25% of their total exports respectively.
 
 
 


 
HARTA has recorded a RM93.441 million increase in gross profit, translating to a growth of 15.20% from RM614.762 million in FY2018 to RM708.203 million in FY2019. Based on 5 years CAGR basis, the gross profit has grown 13.99%. The increase in gross profit for HARTA was supported by increased contribution from the United States and Europe in tandem with the growing global demand for nitrile gloves. The group was well-positioned to meet this demand growth given their continuous expansion in production capacity via their Next Generation Integrated Glove Manufacturing Complex (NGC).
 
 
 
 

 
The Profit After Tax (PAT) of HARTA rose 3.48% from RM439.632 million in FY2018 to RM454.938 million in FY2019. On a CAGR basis, the Profit After Tax (PAT) grew by 14.29% which was in line with the growth in revenue and gross profit.

 
 
 
CASH FLOW STATEMENT

The net cash from operating activities has provided a positive cash flow of RM627.399 million in FY2019 as compared to RM403.949 million in FY2018 indicating that the company is healthy and has enough cash to use for business expansion. The net cash from investing activities in FY2019 (-RM428.602 million) was mainly due to the additions to capital work-in-progress (RM398.412 million), additions to Property, Plant and Equipment (PPE) (RM33.057 million) and additions to intangible assets (RM1.459 million). The negative cash flow indicates that the firm is investing in its business for growth. The net cash from financing activities in FY2019 (-RM206.644 million) was mainly due to dividend paid (RM286.177 million) and interest paid (RM10.620 million).
 
 
 
COMPANY ABLE TO PAY BACK ITS LIABILITIES?

Based on liquidity ratio calculation, HARTA has a current ratio of 2.179 times in FY2019 indicating that the company does not face any liquidity issues as it is capable of paying back its liabilities (411.889 million) if any unforeseeable circumstances occur. HARTA is able to do so by using current assets such as inventories, trade & other receivables, tax assets, cash, bank balances and short-term investments amounting to RM897.442 million.
 
 
PROSPECT AND CHALLENGES

HARTA has allocated RM630 million for Plant 6 and Plant 7 at their Next Generation integrated Glove Manufacturing Complex (NGC) in Sepang as well as RM115 million to integrate the Industry 4.0 technologies for all activities related to gloves production and manufacturing by connecting to computers for data analytics and artificial intelligence (AI).

HARTA said the NGC Plant 5 was fully commissioned during the quarter while first line of Plant 6 was expected to begin commissioning in Q1 2020 with annual installed capacity of 4.7 billion pieces. For Plant 7, which has commenced construction, would cater to small orders focusing more on specialty products with an annual installed capacity of 3.4 billion pieces. (Source: New Straits Times, 5 November 2019). According to managing director Kuan Mun Leong, the company’s annual installed capacity allows it to ramp up the output from the current 36.6 billion pieces of gloves to 44.7 billion pieces per annum by FY2022.

HARTA has launched the world’s first non-leaching antimicrobial glove (AMG) in United Kingdom.  The unprecedented innovation provides active protection against healthcare-associated infections (HAIs). The antimicrobial glove is developed in collaboration with antimicrobial Research and Development (R&D) company Chemical Intelligence UK, which has built-in antimicrobial technology proven to kill micro-organisms in order to prevent the spread of infections.
 
This product is set to be available in hospitals around the world and is being produced at a lower cost in order to reduce the barriers to access. With this technology, the bacteria coming into contact will be exposed to the antimicrobial activity, which in independent testing, achieved up to a 5-log (99.999 per cent) kill rate within just 5 minutes of contact. 
 
 
 
LATEST FINANCIAL RESULT
 

 
 
INSIGHT
 
In conclusion, HARTA has achieved a strong performance in FY2019 with the highest revenue, gross profit and profit after tax over the past 5 years. Its prospect remains bright as the expansion of Next Generation Integrated Glove Manufacturing Complex (NGC) is set to increase capacity from RM36.6 billion to RM44.7 billion pieces of gloves per annum by FY2022 boosted by the adoption of Industry 4.0 technologies, Internet of Things and integrated manufacturing operations. The demand growth is expected to continue particularly in the near-term given the ongoing COVID-19 outbreak across the globe.
 
Also  Harta will get FDA’s approval on their antimicrobial gloves soon. Would be a big catalyst to fly.Kuan says he is expecting US Food and Drug Administration (FDA) approval for the antimicrobial glove soon.
 
“We just started selling to about 20 countries now and the quantity is not yet significant and is very small. We will see a pick-up after we get the FDA certification. The FDA certification is key and we are targeting for it within the next one year. This is our target,” he says.
 
 

 
 
WHY IT MUST CONTINUE RALLY UP THIS JUNE?
 

1. Global demand - Rubber gloves sector to see upsides from surging world demand.

-  We maintained overweight on the rubber gloves sector with expectations of surging demand from the US due to the trade-war effect. Since Sept 1, a 15% tariff has been imposed on Chinese-made medical and vinyl gloves, which should increase their pricing versus local rubber gloves.
- We also expects the positive impact to be felt from the final quarter of the year as US gloves demand switches to local glove players, where the US accounts for 28% to 55% of glove players' group sales.
 
 
2. Glove Shortage - From oversupply to shortage due to pandemic and MCO & CMCO

- It was only last year when there were repeated concerns of an oversupply in the rubber glove industry that hogged the headlines. But the situation has completely changed today in just a span of just a few months into the year 2020 with talk of an oversupply in the rubber glove industry being firmly a thing of the past.

- The Covid-19 outbreak which is now categorised as a global pandemic has upended everything and there are now concerns of undersupply in the rubber glove industry at this very crucial time.

 
 
3. Exchange Rate USD/MYR For Export. ( Ringgit  Loser Still)

- Export-based companies: Glove makers such as Top Glove Corp Bhd and Supermax Corp Bhd - who rake in US dollar-denominated revenues, will likely see an erosion in margins this year due to the stronger ringgit, unless they can pass on the additional costs to consumers. The Manufacturer's selling price of gloves had increased from USD 25 to USD 110, an increase of 340%.
 
 
4. Low Crude Oil Prices are Still.

- Rubber glove shares wil rise when oil prices fall actually. Rubber glove also on attention while oil prices crashing. Rubber will get cheaper to make as the price of crude oil drops. Production costs will be low.
 

5. No vaccine for COVID-19 yet.

- According to WHO. Vaccine for new coronavirus 'COVID-19' could be ready in 18
months. The first vaccine targeting China’s coronavirus could be available in 18
months, so we have to do everything today using available weapons. For official its a MUST announcement by WHO.
 
 
Good luck and stay tuned! #staysafe #stayhome
 
"Only the rubber sectors will have a big jump and bright prospect for now!" 
 
 

Best regards,
 
 
Kim
The Founder Of Kim's Stockwatch
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