TOPGLOV (7113) 顶级手套
[TOP GLOVE CORP BHD：扩张计划正在按计划进行，将使集团的生产线总数增加148条，生产能力增加每年148亿支手套，到2020年12月，Top Glove预计将拥有796条生产线，年产能为753亿只手套]
1Q19 vs 1Q18:
Top Glove在1QFY19实现销售收入12.6亿令吉，较1QFY18增长34.5％，也是迄今为止最高的季度销售收入。税前利润和税后利润为1.419亿令吉和1.117亿令吉，分别比去年同期增长16.3％和5.5％。与1QFY18相比，顶级手套的销量增长约19％。
顶级手套强劲的销售数据是由于强劲的需求增长，在发达市场和新兴市场继续观察到这一点。新建工厂提供的新产能和更高的利用率，加上持续的内部改进，提高了效率和盈利能力，EBITDA利润率从1QFY18的16.1％提高到16.3％。
截至本季度末，顶级手套的未使用税收减免余额为9,900万令吉，可用于即将到来的季度利润。天然橡胶胶乳的平均价格为RM3.78 / kg，比1QFY18低24％，而丁腈乳胶的平均价格year-on-year同比上涨24％至USD1.26 / kg。
1Q19 vs 4Q18:
集团的销售收入增长3.7％。同时，税前利润下降4.1％，但税后利润比4QFY18增长8.9％。与4QFY18相比，销量增长1％。与4QFY18相比，原材料价格较低，普通天然橡胶乳胶和丁腈胶乳价格分别下跌11％至RM3.78 / kg和4％至1.26美元/ kg。
前景：
Top Glove的扩张计划正在按计划进行，将使集团的生产线总数增加148条，生产能力增加每年148亿支手套。到2020年12月，Top Glove预计将拥有796条生产线，年产能为753亿只手套。
正在进行的努力旨在改善Aspion的运营绩效。集团的工程，研发和人力资源团队以及其他支持部门将继续专注于进一步增强，修改和改进手套生产流程，利用最新技术和自动化，确保成本效益和质量改进。
自2001年上市以来，凭借其强劲，稳定的业绩和强劲的市值增长，17年内股东总回报率约为9,311％，Top Glove将被正式纳入富时大马隆综合指数（FTSE Bursa Malaysia KLCI）股票市场指数（2018年12月24日，按市值列出了30家马来西亚交易所最大的公司）的成分股。Top Glove还获得了2018年12月11日举行的The Edge's Billion令吉俱乐部的奖项，获得了3年以来最高股本回报奖，医疗保健行业3年以上的最高利润增长和3年以上的最高股东回报率。
它还在2018年的MSWG东盟公司治理奖中荣获东盟Top 50 ASEAN PLCs类的奖项，以及2018年东盟Priority Integrated Sector (Rubber-based)的东盟企业奖。员工福祉仍然是Top Glove的首要任务。他们承认，到目前为止，他们的员工对他们的成功起到了重要作用，并将继续成为实现“财富”全球500强梦想的最重要因素。他们认识到有些领域他们可以改进并致力于这样做，特别是在健康和工作环境方面。 Top Glove认为，鉴于手套使用率仍在上升，特别是在新兴国家，并且每年增长10％，行业前景仍然看好。
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James Ng Stock Pick Performance:
Since Recommended Return:
BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.17 in 2 months 3 days, total return is 14.8%
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％
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[TOP GLOVE CORP BHD: expansion plans are on track and will boost the Group’s total number of production lines by an additional 148 lines and production capacity by 14.8 billion gloves per annum, by December 2020, Top Glove is projected to have 796 production lines and a production capacity of 75.3 billion gloves per annum]
1Q19 vs 1Q18:
Top Glove achieved Sales Revenue of RM1.26 billion in 1QFY19, an increase of 34.5% compared with 1QFY18 and also its highest quarterly sales revenue to date. Profit Before Tax and Profit After Tax came in at RM141.9 million and RM111.7 million, up 16.3% and 5.5% respectively against the corresponding period last year. The Group also recorded strong Sales Volume (quantity sold) growth of approximately 19% versus 1QFY18.
Accounting for the Group's robust Sales figures was strong demand growth, which continued to be observed both in developed and emerging markets. The new capacity available from the newly completed factories and higher utilisation, coupled with ongoing internal improvements, resulted in better efficiency and profitability, and EBITDA margins improved to 16.3% from 16.1% in 1QFY18.
As at end of this quarter, the Group has an unutilised tax allowance balance of RM99 million which can be utilised for the coming quarters profit. The average price for natural rubber latex was RM3.78/kg, 24% lower than 1QFY18, while the average nitrile latex price surged 24% to USD1.26/kg, year-on-year.
1Q19 vs 4Q18:
The Group’s Sales Revenue grew 3.7%. Meanwhile, Profit Before Tax eased 4.1% but Profit After Tax was 8.9% higher than 4QFY18. Sales Volume rose 1% compared with 4QFY18. Raw material prices were lower compared with 4QFY18, with average natural rubber latex and nitrile latex prices easing by 11% to RM3.78/kg, and 4% to USD1.26/kg respectively.
Prospects:
Top Glove’s expansion plans are on track and will boost the Group’s total number of production lines by an additional 148 lines and production capacity by 14.8 billion gloves per annum. By December 2020, Top Glove is projected to have 796 production lines and a production capacity of 75.3 billion gloves per annum.
Ongoing efforts are in place to improve the operational performance of Aspion. The Group’s Engineering, R&D and Human Resources teams, as well as other supporting departments will continue to focus on further enhancement, modification and improvement of the glove production process, leveraging the latest technology and automation, towards ensuring cost efficiency and quality improvement.
With its strong, consistent performance and robust growth in market capitalisation since its listing in 2001, with total shareholders return of approximately 9,311% over 17 years, Top Glove will be officially included as a constituent of the FTSE Bursa Malaysia KLCI, a stock market index that lists 30 of the largest companies on Bursa Malaysia by market capitalisation, effective 24 December 2018. Top Glove was also recognised at The Edge’s Billion Ringgit Club Awards held on 11 December 2018, where it received awards for Highest Return on Equity Over 3 Years, Highest Growth in Profit Over 3 Years and Highest Return to Shareholders Over 3 Years under the Healthcare sector.
It also won an award at the MSWG Asean Corporate Governance Award 2018 under the Top 50 ASEAN PLCs category, as well as the Asean Business Awards 2018 under the Priority Integrated Sector (Rubber-based) category. Employee well-being continues to be a foremost priority at Top Glove. They acknowledge that their people have been instrumental to their success thus far and will continue to be the most important factor in achieving their Fortune Global 500 Dream. They recognise there are areas they can improve on and are committed to doing so, particularly in terms of health and working environment. Top Glove believes industry prospects remain promising given that glove usage is still on the rise, particularly in emerging countries and set to grow by 10% every year.
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James Ng Stock Pick Performance:
Since Recommended Return:
BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.17 in 2 months 3 days, total return is 14.8%
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.
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