D&O (7204) D&O绿科 - [D&O GREEN TECHNOLOGIES BHD:下半年将比上半年好,新业务商业化推动,特别是汽车后组合灯,新办公楼建成将使Dominant腾出工厂空间以扩大产能] - James的股票投资James Share Investing


 [D&O GREEN TECHNOLOGIES BHD:下半年将比上半年好,新业务商业化推动,特别是汽车后组合灯,新办公楼建成将使Dominant腾出工厂空间以扩大产能]

尽管马来西亚令吉走强,但集团收入同比增长11.3%至本季度的1.133亿令吉,而汽车业务部门的销售额增加10.6%至1.069亿令吉。剔除汇率影响,收入将同比增长18%。

毛利润增长26.9%至3120万令吉。货币(马来西亚令吉增强会让收入减少而对毛利润没有重大影响),更好的成本管理和生产效率改善影响毛利率从24.1%上升至27.5%。

为了降低未来的产品认证费用,Dominant计划在2018年下半年投资约500万令吉,以加强其内部测试能力。尽管研发费用较高,但税前利润上升54.1%至1,180万令吉,由民事诉讼结算的净收益320万令吉和外汇收益RM70万令吉提升(2017年第1季度:亏损40万令吉 ),部分被240万令吉的库存冲销(1Q2017:零)抵消。由于有效税率提高,净利润增长速度低于税前利润增长(38.2%至910万令吉)。

与2017年上半年相比,这集团于二零一八年上半年收入增长2.8%至2.263亿令吉。消除货币影响,收入将同比增长10%。1H2018毛利率从24.6%上升至27.4%。因此,在六个月期间,毛利润增长14.4%至6,200万令吉。

税前利润增长36.9%至2,170万令吉,主要由于毛利增加,客户补偿较低(二零一八年上半年为RM30万令吉,而二零一七年上半年为二百五十万令吉)以及民事诉讼结算的净收益为320万令吉,部分被外汇损失增加和库存准备金增加所抵消。净利润增长23.0%至1,680万令吉。

净现金状况由2017年12月31日的560万令吉改善至2018年6月30日的810万令吉。

与上一季度(2018年第一季度:1.131亿令吉)相比,集团收入持平于1.133亿令吉。毛利率为27.5%,环比保持稳定(20181Q:27.3%)。因此,毛利仅微升1.1%至3,120万令吉。尽管研发费用显着增加,但税前利润增长19.5%至1,180万令吉(1Q2018:990万令吉),由政府拨款220万令吉,从民事结算中获利320万令吉和RM70万外汇收益(1Q2018:亏损160万令吉)提升,部分被更高的库存冲销抵消。

前景:
管理层预计今年下半年将比上半年好,受季节性因素和新业务商业化的推动,特别是对于RCL(后组合灯)等外部汽车照明应用。从地理位置来看,预计增长将是广泛的,基于较低的基数效应,预期美国和日本等新兴市场会实现更高的百分比增长。新办公楼的建成将使Dominant能够腾出现有工厂的空间以扩大产能。
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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 RM0.865 in 1 month 8 day, total return is 21%

2) Gtronic (GLOBETRONICS TECHNOLOGY BHD), recommended on 8 Jul 18, initial price was RM2.17, rose to RM2.56 in 2 months 12 days, total return is 18%

3) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.865 in 2 month 19 days, total return is 8.8%

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

【看懂年报和季报】课程
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日期:10月7日星期日
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日期:10月14日星期日
地点:George Town (Penang)

日期:10月21日星期日
地点:M Hotels (Kuching)

日期:10月28日星期日
地点:Johor Bahru

有兴趣的朋友,可以电邮或PM FB page联络我
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James Ng
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[D&O GREEN TECHNOLOGIES BHD: second half of this year to be better than first half, commercialisation of new business wins especially for the automotive Rear Combo Light, completion of new office building enable Dominant to free up space in existing plant for production capacity expansion]

Despite a stronger Malaysia Ringgit, Group revenue grew 11.3% year-on-year to RM113.3 million in the current quarter, bolstered by a 10.6% increase in sales of the Automotive Segment to RM106.9 million. Excluding the currency effects, revenue would have shown a year-on-year growth of 18%.

Gross profit rose 26.9% to RM31.2 million. Gross margin increased from 24.1% to 27.5% on currency effects (a stronger Malaysia Ringgit lowered reported revenue without material impact on nominal gross profit in Ringgit term), better cost management and production efficiency improvements.

To reduce future product qualification expenses, Dominant plans to invest approximately RM5 million in 2H2018 to strengthen its in-house test capabilities. Despite higher R&D expenses, pre-tax profit rose 54.1% to RM11.8 million, lifted by a RM3.2 million net gain from the settlement of a civil suit and RM0.7 million forex gain (1Q2017: RM0.4 million forex loss), partially offset by a RM2.4 million inventory write-offs (1Q2017: nil). Net profit increased at a slower pace than pre-tax profit growth at 38.2% to RM9.1 million on higher effective tax rate.

When compared to 1H2017, the Group reported a 2.8% growth in revenue to RM226.3 million in 1H2018. Removing the currency effects, revenue would have increased 10% year-on-year. Gross margin improved from 24.6% to 27.4% in 1H2018. Consequently, gross profit rose 14.4% to RM62.0million during the six-month period.

Pre-tax profit rose 36.9% to RM21.7 million mainly on higher gross profit, lower customer compensation (RM0.3 million in 1H2018 versus RM2.5 million in 1H2017) and the recognition of a RM3.2 million net gain from the settlement of a civil suit, partially offset by higher forex losses and higher provision for inventory. Net profit rose 23.0% to RM16.8 million.

Net cash position improved from RM5.6 million on 31 December 2017 to RM8.1 million as at 30 June 2018.

Group revenue was flat at RM113.3 million when compared to the preceding quarter (1Q2018: RM113.1 million). Gross profit margin at 27.5% was stable quarter-on-quarter (20181Q: 27.3%). Consequently, gross profit only rose marginally by 1.1% to RM31.2 million. Despite significantly higher R&D expenses, pre-tax profit rose 19.5% to RM11.8 million (1Q2018: RM9.9 million), lifted by a RM2.2 million government grant, a RM3.2 million net gain from the settlement of a civil suit and RM0.7 million foreign exchange gain (1Q2018: RM1.6 million loss), partially offset by higher inventory write offs.

Prospects:
Management expects the second half of this year to be better than the first half, bolstered by seasonality factor and commercialisation of new business wins especially for the exterior automotive lighting applications such as RCL (Rear Combo Light). Geographically, growth is expected to be broad based with expected higher percentage growth achieved for newer markets such as the US and Japan on low base effect. The completion of the new office building will enable Dominant to free up space in the existing plant for production capacity expansion.
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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 RM0.865 in 1 month 8 day, total return is 21%

2) Gtronic (GLOBETRONICS TECHNOLOGY BHD), recommended on 8 Jul 18, initial price was RM2.17, rose to RM2.56 in 2 months 12 days, total return is 18%

3) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.865 in 2 month 19 days, total return is 8.8%

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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Final decision is always yours, thank you.

James Ng

https://klse.i3investor.com/blogs/general/174932.jsp