[ MI (5286) 正齐科技 MI TECHNOVATION BERHAD：与SEMI的预测相符，即设备销售将在2020年增长，其中台湾将领先中国和韩国；希望其旗舰产品Mi系列WLCSP分拣机将继续凭借其新的Mi40型号获得市场份额] - James的股票投资James Share Investing
4Q19 vs 4Q18:
集团在本季度的收入为6822万令吉，year on year增长120％。这主要是由于先进/晶圆级包装领域中某些OSAT的资本投资增加，导致了东北亚地区客户的需求增加。
集团在本季的税前盈利为1,771万令吉，比去年同期的712万令吉增加149％。业绩好于上一季度，是由于产生了更高的销售量和制造效率。
YTD19 vs YTD18：
年初至今的收入和PBT分别为1亿9114万令吉和5954万令吉，即收入增加19％和PBT增长34％。收入增加的主要原因是与去年同期相比，其东北亚地区客户的需求增加，销售收入增加，制造效率提高，应付给外部销售代理商的佣金降低。
4Q19 vs 3Q19：
该集团在本季度录得收入6822万令吉，税前利润为1771万令吉，相比之下，前一季度为4730万令吉和1755万令吉。销售收入增长44％，主要是由于东北亚地区客户的需求增加。尽管本季度的收入增长值得称赞，但PBT仅略微增加了1％。
前景：
正齐科技对2020财年收入和利润均会健康增长感到乐观。这与SEMI的预测相符，即设备销售将在2020年增长，其中台湾将领先中国和韩国。微型化的持续趋势和5G设备的更高含量是推动半导体设备市场增长的关键因素。台湾和韩国的活动和咨询水平都在提高。预计中国也将是积极的，而Covid-19的爆发是暂时的中断。到目前为止，他们还没有遇到订单取消。即使有一些延迟，由于积压的情况，活动可能会在以后增加。他们希望台湾，韩国和中国成为2020年的主要市场。
2020年，组装和包装设备（Mi，Li和Ai系列）将继续作为主要的收入来源。他们希望其旗舰产品Mi系列WLCSP分拣机将继续凭借其新的Mi40型号获得市场份额。至于适合FOWLP晶圆/面板重建工艺的Li系列，他们的目标是到2020年第二季度推出一个具有更高速度和规格的新平台。他们已经在韩国水原市开始了LAB（激光辅助接合）设备的开发，并有望在2020年第三季度交付首个原型，该原型将与他们的高精度芯片接合/附装机集成在一起，以完成整个Ai系列产品组合。
视觉检测设备（Vi系列）将成为其台湾开发团队在2020年的重点。他们正在推出Vi系列的新机，以在silicon defects inspection process捕捉highend flip chip以及SiP和2.5D封装的机遇。这种新型号的演示机将在今年上半年进行认证。
至于最终测试设备（Si系列），将产品开发活动转移到中国的步伐在今年上半年将有所放缓，但在下半年将会加快。与他们在中国的客户进行进一步增强的合作并未受到影响。
他们认为，保持技术领先是最重要的。 IPO资金中的4,500万令吉将被用作在台湾，中国和韩国建立工程中心以进行研发，这将使他们能够跟上不断发展的技术趋势。台湾（新竹）和韩国（水原）技术中心已经投入运营，它们的目标是到2020年开发出设备原型。
对于新的子公司，Mi Autobotics和Mi Components将在2020财年贡献外部收入。他们的Batu Kawan工厂现已竣工，并将于2020年第一季度开始运营，首先是Mi Autobotics，其次是Mi Components。 Mi Autobotics于2019年第四季度开始创收，其运营期只有9个月，因为其第一名员工于19年1月开始工作。他们预计到2020年，机器人技术和人工智能产品将进一步发展。流程自动化是未来的方向，以最大程度地减少由人力风险引起的中断并确保业务连续性。
Mi Components将为内部使用和外部客户生产消费类产品以及精密模块和组件。他们准备使用原型，希望在2020年推出Mi Component产品并将其商业化。客户的积极参与和咨询水平令他们感到鼓舞，并且他们正朝着实现其五年计划的方向前进。他们预见到2020年对他们来说将是非常繁忙但收获丰厚的一年，因为他们将执行自己的战略来扩展业务。
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James Ng Stock Pick Performance:
Since Recommended Return:
a) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM2.44 (dividend RM0.025) in 1 year 6 months 8 days, total return is 244.8%
b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM2.09 (dividend RM0.04) in 1 year 7 months 19 days, total return is 167.9%
c) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM1.53 in 1 year 1 month, total return is 166.1%
d) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM3.47 (adjusted)(dividend RM0.01) in 8 months 18 days, total return is 108.4%
e) PRLEXUS (PROLEXUS BHD), recommended on 25 Aug 19, initial price was RM0.455, rose to RM0.835 in 5 months 26 days, total return is 83.5%
f) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.37 (dividends RM0.113) in 1 Year 4 months 13 days, total return is 56.2%
g) TSH (TSH RESOURCES BHD), recommended on 30 Jun 19, initial price was RM0.90, rose to RM1.34 in 7 months 21 days, total return is 48.9%
h) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.10 (dividend RM0.015) in 1 Year 2 months 4 days, total return is 39.4%
i) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.66 (dividend RM0.105) in 1 Year 3 months 2 days, total return is 39%
j) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM5.34 (adjusted) (dividend RM0.13431) in 1 Year 6 months 22 days, total return is 38.2%
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页面与我联系。
1)【看懂年报和季报】课程:
11a.m. – 7p.m.，免费茶和咖啡
3月21日星期六：Silka Johor Bahru Hotel, Johor Bahru 7份点心
3月29日星期日：Hotel Sri Petaling, KL 3份点心
4月19日星期日：AG Hotel Penang, George Town 2份点心
2)【股票-实际操作班】课程：
10a.m. – 9p.m.，免费午餐和晚餐
3月22日星期日：Silka Johor Bahru Hotel, Johor Bahru
3月28日星期六：Hotel Sri Petaling, KL
4月18日星期六：AG Hotel Penang, George Town
有兴趣的朋友，可以电邮或PM FB page联络我
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这个分享纯属讨论以及领域的分析，买或卖自负。请Like和Share这个post。最终决定永远是你的，谢谢。
James Ng
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[MI TECHNOVATION BERHAD: in line with SEMI’s forecast that equipment sales will grow in 2020 with Taiwan leading the way followed by China and Korea; they expect their flagship Mi Series WLCSP sorting machine to continue gaining market share with its new Mi40 model]
4Q19 vs 4Q18:
The Group's revenue for the current quarter closed at RM68.22 million or 120% increase year on year. This was mainly due to stronger demand from their customers in North East Asia region as a result of the growth in capital investment from certain OSATs in the advanced/wafer level packaging segment.
The Group’s profit before tax (“PBT”) for the current quarter was RM17.71 million or 149% increase from RM7.12 million recorded in the similar quarter of the preceding year. The better performance was due to higher sales generated and manufacturing efficiencies in the quarter under review.
YTD19 vs YTD18:
The year‐to‐date revenue and PBT was RM191.14 million and RM59.54 million respectively, i.e. a 19% increase in revenue and 34% increase in PBT. The higher revenue was mainly due to stronger demand from their customers in North East Asia region as compared to previous corresponding year, increased sales revenue coupled with manufacturing efficiencies and lower commission payable to external sales agent.
4Q19 vs 3Q19:
The Group posted a revenue of RM68.22 million and PBT of RM17.71 million for the current quarter under review, compared to RM47.30 million and RM17.55 million for the immediate preceding quarter. 44% increase in sales revenue was mainly due higher demand from their customers in North East Asia region. Despite the commendable improvement in revenue for the current quarter, PBT recorded a
marginal increase of 1% only.
Prospects:
They are optimistic of healthy growth in both revenue and profitability for FY2020. This is in line with SEMI’s forecast that equipment sales will grow in 2020 with Taiwan leading the way followed by China and Korea. Continued trend of miniaturization and higher content in 5G devices are key factors fuelling the growth of semiconductor equipment market. They are experiencing heightened levels of activities and inquiries from both Taiwan and Korea. China is also anticipated to be positive and the Covid‐19 outbreak is a temporary interruption. So far, they have not experienced order cancellations. Even if there are some delays, activities may increase later due to the backlog created. They expect Taiwan, Korea and China to be their top markets for 2020.
In 2020, the Assembly & Packaging equipment (Mi, Li and Ai Series) will remain as a key revenue contributor. They expect their flagship Mi Series WLCSP sorting machine to continue gaining market share with its new Mi40 model. As for the Li Series which caters to FOWLP wafer/panel reconstruction process, they are targeting to launch a new platform by 2Q2020 which offers higher speed and specifications. They have started their LAB (laser assisted bonding) equipment development in Suwon, Korea and expect to deliver the first prototype in 3Q2020 which will integrate with their high precision die bonding/attaching machines to complete the entire Ai Series products portfolio.
The Vision Inspection equipment (Vi Series) will be the focus of their Taiwan development team in 2020. They are launching the new models for the Vi Series to capture opportunities from highend flip chip as well as SiP and 2.5D packages on the silicon defects inspection process. The demo machines for this new model will undergo qualification process in the first half of this year.
As for the Final Test equipment (Si Series), the pace of transferring the product development activity to China will experience some slowdown in the 1st half of this year but will accelerate in the 2nd half. The collaboration with their customers in China for further enhancements was not affected.
They believe that staying in the forefront of technology is paramount. RM45 million from their IPO proceeds will be deployed as a start to build Engineering Centres in Taiwan, China and Korea to undertake R&D which will enable them to keep abreast with evolving technology trends. The Taiwan (Hsinchu) and Korea (Suwon) Technology Centres are already operational and they are targeting to have equipment prototype developed by 2020.
For the new subsidiaries, Mi Autobotics and Mi Components will contribute external revenue in FY2020. Their Batu Kawan plant is now completed and will commence in 1Q2020 with Mi Autobotics moving in first, followed by Mi Components. Mi Autobotics has started generating revenue in 4Q2019 and its pre‐operating period was only 9 months as its first employee commenced work in Jan’19. They expect further momentum in 2020 driven by the robotics and Artificial Intelligent products. Automation of processes is the way of the future to minimise disruptions stemming from manpower risks and to ensure business continuity.
Mi Components will manufacture consumer products and precision modules and components for both internal usage and external clients. With their prototypes in place, they expect to launch and commercialize Mi Component’s products in 2020. They are encouraged by the solid engagement and level of inquiries from their customers and they are on‐course in achieving their 5‐year plan. They foresee 2020 to be a very busy but rewarding year for them as they carry out their strategies to expand their business.
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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.
This sharing is purely a discussion and analysis of the sector, buying or selling at your own risk. Please Like and Share this post. Final decision is always yours, thank you.
James Ng
https://klse.i3investor.com/blogs/general/2020-02-21-story-h1483886723.jsp
