BIOHLDG (0179) 科鼎 - [BIOALPHA HOLDINGS BHD:增长受到现有以及新ODM客户的需求推动,马来西亚的客户销售额一直在上升,研发团队的产品需求强劲,利用自己的零售药房链增加自有品牌产品收入] - James的股票投资James Share Investing


 [BIOALPHA HOLDINGS BHD:增长受到现有以及新ODM客户的需求推动,马来西亚的客户销售额一直在上升,研发团队的产品需求强劲,利用自己的零售药房链增加自有品牌产品收入]

科鼎本季度的收入为1,955万令吉,而上一季度为1316万令吉,其结束的财务期间(“FPE”)2018年6月30日的累计收入为3,201万令吉,而2017年6月30日前一个相应季度FPE为2179万令吉,增加了639万令吉或48.56%和1022万令吉或46.90%。制造业和零售药房部门都促进了收入的增长。有关科鼎经营部门表现的进一步分析如下:

(i)制造和销售成品保健品:
该部门本季度的收入为1265万令吉,而上一季度为941万令吉,其2018年6月30日FPE的累计收入为1913万令吉,而去年2017年6月30日相应季度同期则为1422万令吉,增加324万令吉或34.43%及491万令吉或34.53%。

收入增加主要是由于保健品的销售增加,特别是在马来西亚。本季度国内销售额从708万令吉增加至1371万令吉或93.64%,而2018年6月30日的FPE从前一季度1165万令吉增加至2279万令吉或95.62%,归因于来自当前客户的新产品和现有产品的订单激增。在本季度,新客户也做出了贡献。与此同时,中国和印度尼西亚的保健产品出口在本季度保持稳定。

(ii)零售药房:
该部门本季度的收入为690万令吉,而上一季度为375万令吉,而2018年6月30日的FPE为1287万令吉,而2017年6月30日上一季度FPE则为756万令吉,增加315万令吉或84.00%及531万令吉或70.24%。这一改善源于药店的销售额增加。

由于有利的产品组合,2018年6月30日FPE的毛利率维持在41.16%,而2017年6月30日上一个相应季度FPE为41.07%。本季度归属于母公司股权持有者的净利润为414万令吉,而2018年6月30日的FPE为478万令吉。相比之下,科鼎上一季度的净利润为246万令吉,而上一相应季度的净利润为37万令吉。

截至2018年6月30日止第二季的收入较截至2018年3月31日止的第一季增加639万令吉或48.56%,由1316万令吉增至1955万令吉。科鼎的业务活动通常在第三季度和第四季度与其客户的年终节日促销活动一起达到峰值。截至2018年6月30日止第二季的税前利润(“PBT”)从截至2018年3月31日的第一季度的251万令吉增加了158万令吉或62.95%至409万令吉。

前景:
科鼎对国内市场的前景仍持乐观态度,因为预计制造业和零售药房业务将于2018年继续表现良好。对于制造业而言,增长受到现有原始设计制造(“ODM”)客户以及在年内获得的新ODM客户的需求增长推动。科鼎的现有客户,特别是马来西亚市场的客户,自2017年以来销售额一直在上升,并持续到2018年上半年。预计2018年下半年的增长势头将会持续,这反映出由BHB的研发团队(“R&D”)制定的产品的强劲需求。此外,科鼎亦正与多家潜在客户展开讨论,以扩大其客户基础及产品供应。

制造业务的另一个增长因素包括集团通过利用自己的零售药房链增加自有品牌产品收入的战略。科鼎于二零一七年推出七款新产品,以加强Constant药房的产品供应,并计划于二零一八年推出更多自家品牌产品,因为这些产品具有较高的利润率。整体而言,科鼎对本地制造业务的前景乐观,受到ODM销售增加以及零售部门贡献的自家品牌销售比例增加的支撑。

至于零售药房业务,科鼎继续通过特许经营及未来收购活动加强其Constant药房的存在。集团的扩张战略重点是在巴生谷以外的地区开设新店,因为竞争不那么激烈,Constant药店可以提供更好的增值服务,如免费咨询,免费基本体检和会员日特别折扣。该集团目前正在与几家潜在的特许经营商进行谈判,以便在霹雳州,吉兰丹州,登嘉楼和柔佛州(目标市场)开设新的Constant药房。与此同时,科鼎亦不断探索收购机会,以加快其零售药房连锁增长。

此外,集团零售药房业务的扩展将受其e-Constant计划的推动,该计划是一个在线虚拟电子商务商店(该集团于2017年推出),为会员提供推荐奖励计划。促销和营销活动正在进行中,以便有更多的成员来运作虚拟商店。

在中国,科鼎继续通过指定分销商在中国南部(如广州和深圳)销售其保健品。至于包括穆斯林占多数的省份 - 新疆,青海,陕西和甘肃的新目标市场,科鼎已在各省指定分销商,并正与他们密切合作,推广Bioalpha的清真认证产品。他们对这一新细分市场的前景持乐观态度,尽管他们也认识到教育消费者和开拓市场需要时间。截至目前,集团已为该市场推出5款新产品。

就其印尼市场而言,科鼎已与印尼当地商业伙伴订立合约制造安排,而位于印度尼西亚Kampar的合作伙伴工厂将独家为Bioalpha生产及制造功能性食品及保健品。通过该工厂,科鼎预计将以更快的速度向市场推出新产品,因为它缩短了漫长的注册流程。因此,科鼎预期印尼的收入将逐渐增加。

在农业方面,目前正在登嘉楼Pasir Raja, Dungun的879.5英亩土地上进行第二阶段土地清理活动。该集团将种植药草,如东革阿里,Kacip Fatimah,Betik Sekaki,Lada Hitam,Durian Belanda,Pokok Kari,Mas Cotek和Serai等,这些需求量很大。科鼎的目标是到2018年底完成清理位于Dungun的Pasir Raja的200英亩土地。随着Pasir Raja和Desaru Herbal Parks的药草在2018年达到成熟阶段,再加上种植面积的整体增加,科鼎预计收获与2017年相比,2018年的原料新鲜草药数量更多。

至于植物药物的发展,科鼎正在申请研究人类临床试验的新药。鉴于上述各业务部门的增长前景,董事会对科鼎于2018年12月31日止财政年度的表现持乐观态度。
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James Ng Stock Pick Performance:
Since Recommended Return:

1) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.92 in 26 days, total return is 28.7%

2) Gtronic (GLOBETRONICS TECHNOLOGY BHD), recommended on 8 Jul 18, initial price was RM2.17, rose to RM2.60 in 2 months, total return is 19.8%

3) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.875 in 2 month 6 days, total return is 10.1%

我希望将我的策略分享给读者,希望他们在阅读后能够表现出色。我正在使用基本面分析(Fundamental Analysis):

预计公司每年的增长率必须> 14%

我想说服读者学习基本面分析FA以便能从股市赚钱。

我为想从马来西亚股票市场赚钱的读者提供STOCK PICK服务。想订阅我的邮件以从股票市场获取良好回报的人,可以通过 jamesngshare@gmail.com 或我的FB页面 https://web.facebook.com/jamesshareinvest/ 与我联系

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James Ng
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[BIOALPHA HOLDINGS BHD: growth is driven by an increase in demand from existing as well as new ODM customers, Malaysian market has been experiencing uptick in sales, solid demand for products formulated by the R&D team, increase revenue from house brand products by leveraging on its own retail pharmacy chain]

The Group’s revenue for the current quarter was RM19.55 million as compared to RM13.16 million in the preceding quarter and its cumulative revenue for the financial period ended (“FPE”) 30 June 2018 was RM32.01 million as compared to RM21.79 million in the preceding corresponding quarter FPE 30 June 2017, representing an increase of RM6.39 million or 48.56% and RM10.22 million or 46.90%. Both the manufacturing and retail pharmacy divisions contributed to the growth in revenue. Further analyses of the performance of the Group’s operating segments are as follows:

(i) Manufacturing and sale of finished health supplement products:
The revenue generated from this segment for the current quarter was RM12.65 million as compared to RM9.41 million in the preceding quarter and its cumulative revenue for the FPE 30 June 2018 was RM19.13 million as compared to RM14.22 million in the preceding corresponding quarter FPE 30 June 2017, representing an increase of RM3.24 million or 34.43% and RM4.91 million or 34.53%.

The higher revenue was mainly due to increase in sales of health supplement products, particularly in Malaysia. Domestic sales for the current quarter increased from RM7.08 million to RM13.71 million or 93.64% and for the FPE 30 June 2018 increased from RM11.65 million to RM22.79 million or 95.62% as compared to the preceding corresponding quarter, attributed to surge in orders for new and existing products from current clientele. There was also contribution from new customer during the quarter under review. Export of health products to China and Indonesia, meanwhile, remained stable during the quarter under review.

(ii) Retail pharmacies:
The revenue generated from this segment for the current quarter was RM6.90 million as compared to RM3.75 million in the preceding quarter and for the FPE 30 June 2018 was RM12.87 million as compared to RM7.56 million in the preceding corresponding quarter FPE 30 June 2017, representing an increase of RM3.15 million or 84.00% and RM5.31 million or 70.24%. The improvement stemmed from higher sales registered at the pharmacy outlets.

Gross profit margin was maintained at 41.16% in the FPE 30 June 2018 in comparison to 41.07% in the preceding corresponding quarter FPE 30 June 2017 due to favourable product mix. Net profit attributable to the owners of the parent for the current quarter was RM4.14 million and for the FPE 30 June 2018 was RM4.78 million. By comparison, the Group recorded a net profit of RM2.46 million in the preceding quarter and RM0.37 million in the preceding corresponding quarter.

The revenue for the second (2nd) quarter ended 30 June 2018 increased by RM6.39 million or 48.56% from RM13.16 million to RM19.55 million as compared to the first (1st) quarter ended 31 March 2018. The Group’s business activities typically peak in the third (3rd) and fourth (4th) quarter of the calendar year in conjunction with year-end festive promotional activities by its customers. The profit before tax (“PBT”) for the second (2nd) quarter ended 30 June 2018 has increased by RM1.58 million or 62.95% to RM4.09 million from RM2.51 million in the first (1st) quarter ended 31 March 2018.

Prospects:
The Group remains positive on the outlook for the domestic market as it expects both the manufacturing segment and retail pharmacy business to continue doing well in 2018. For the manufacturing segment, growth is driven by an increase in demand from existing Original Design Manufacturing (“ODM”) customers as well as new ODM customers secured during the year. The Group’s existing customers, specifically in the Malaysian market, has been experiencing uptick in sales since 2017, and this has continued into the first half of 2018. The growth momentum is expected to prevail going into the second half of 2018, reflecting solid demand for products formulated by the research and development (“R&D”) team at BHB. Additionally, the Group is also in the midst of discussions with several potential clients to grow its customer base and product offerings.

Another growth factor for manufacturing segment involves the Group’s strategy to increase revenue from house brand products by leveraging on its own retail pharmacy chain. The Group rolled out 7 new products in 2017 to enhance the product offerings at the Constant pharmacy outlets and plans to launch more new house brand products in 2018 as these carry higher profit margins. Overall, the Group’s outlook on its local manufacturing segment is upbeat, underpinned by increase in ODM sales and higher proportion of house brand sales through the retail arm’s contributions.

As for the retail pharmacy business, the Group continues its efforts in strengthening the presence of its Constant pharmacies via franchising and prospective acquisition exercise. The Group’s expansion strategy focuses on opening new outlets in locations outside the Klang Valley, where the competition is less stiff and Constant pharmacies can offer better value-added services such as free consultation, free basic check-ups and special discounts on member days. The Group is currently in talks with several prospective franchisees for the opening of new Constant pharmacy outlets in Perak, Kelantan, Terengganu and Johor, being the target markets. At the same time, the Group is also constantly exploring opportunities for acquisition to fast track its retail pharmacy chain growth.

Additionally, the expansion of the Group’s retail pharmacy business will be driven by its e-Constant initiative, an online virtual e-commerce store with referral rewards programme for cooperative members, which the Group launched in 2017. Promotional and marketing activities are ongoing to sign up more cooperative members to operate the virtual stores.

In China, the Group continues to sell its health supplement products in the Southern part of China (such as Guangzhou and Shenzhen) via the appointed distributors. As for the new target market comprising Muslim-majority provinces – Xinjiang, Qinghai, Shaanxi and Gansu, the Group has already appointed distributors in these respective provinces and are working closely with them to promote Bioalpha’s Halal certified products. They are optimistic on the prospect of this new segment although they are also cognizant that it would take time to educate the consumers and develop the market. As of to-date, the Group has introduced 5 new products for this market.

For its Indonesian market, the Group has put in place a contract manufacturing arrangement with a local Indonesian business partner, where the partner’s facility, located in Kampar, Indonesia, will produce and manufacture functional food and health supplement products for Bioalpha on an exclusive basis. Through this facility, the Group expects to introduce new products to the market at a faster pace as it shortens the otherwise lengthy registration process. As a result, the Group expects revenue from Indonesia to increase gradually over time.

On the agriculture side, the Phase II land clearing activities at the 879.5-acre of land in Pasir Raja, Dungun, Terengganu is currently ongoing. The Group will plant herbs such as Tongkat Ali, Kacip Fatimah, Betik Sekaki, Lada Hitam, Durian Belanda, Pokok Kari, Mas Cotek and Serai, which are high in demand. The Group targets to clear 200 acres of the land in Pasir Raja, Dungun by end of 2018. With more herbs reaching maturity stage in 2018 from both Pasir Raja and Desaru Herbal Parks coupled with the overall increase in planted acreage, the Group expects to harvest greater tonnage of raw fresh herbs in 2018 by comparison to 2017.

As for the development of botanical drugs, the Group is in the process of making Investigational New Drug Application for clinical trials on human beings. In view of the aforementioned growth prospects across the business divisions, the Board of Directors of the Company (“Board”) is optimistic on the Group’s performance for the financial year ending 31 December 2018.
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James Ng Stock Pick Performance:
Since Recommended Return:

1) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.92 in 26 days, total return is 28.7%

2) Gtronic (GLOBETRONICS TECHNOLOGY BHD), recommended on 8 Jul 18, initial price was RM2.17, rose to RM2.60 in 2 months, total return is 19.8%

3) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.875 in 2 month 6 days, total return is 10.1%

I wish to share my strategy to readers, hope that they can perform well after reading this. I am using Fundamental Analysis:

the forecasted growth of a company must > 14% per year



I wish to convince readers to learn FA in order to make money from stock market.

I am providing STOCK PICK SERVICE for readers who want to make money from Malaysian stock market. Those who want to subscribe to my mailing list to achieve a good return from stock market, you can contact me at jamesngshare@gmail.com or PM me in my FB page https://web.facebook.com/jamesshareinvest/

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