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[P I E INDUSTRIAL BHD:较低的行政和分销费用] - James的股票投资James Share Investing

[P I E INDUSTRIAL BHD:较低的行政和分销费用]

4Q19 vs 4Q18:

集团在本季度的收入为1.60626亿令吉,税前利润为1297.4万令吉。 PBT的下降被本季度较低的行政和分销费用所抵消。

YTD19 vs YTD18:

收入的减少部分被电子制造活动(EMS)的收入增加所抵消。截至2019年12月31日的财政期间,广宇科技的税前利润为4580.1万令吉,较截至2018年12月31日的同期的5538.5万令吉减少17%或958.4万令吉。税前利润的减少部分被行政和分销费用的减少,应收账款减值的转回和投资收益的增加所抵消。

4Q19 vs 3Q19:

本季度广宇科技的税前利润与上一季度相比下降了43%。该减少被行政和分销费用的减少,投资物业的公允价值调整收益以及投资收益的增加所抵消。

截至2019年12月31日,集团的总负债由2018年12月31日的1.63224亿令吉减少45%或7288.4万令吉至9034万令吉。减少主要是由于偿还短期借贷及贸易应付款项。截至2019年12月31日,集团的总权益为4.49203亿令吉,较2018年12月31日的4.29701亿令吉增加1950.2万令吉。总权益的增加是由于可分配的retained earnings增加,因这财政期的净利达3,655.7万令吉,并派发1920.2万令吉的股息。这财政期间,不可分派储备也增加了214.7万令吉,这是由于外汇折算储备的变化。

前景:

对于EMS活动(80%),从长远来看,预计现有订单和潜在新客户的订单将通过其完全建成的垂直集成制造设施来实现,并在未来几年内进一步改善其运作状况。由于中美贸易战的有利影响,该部门有望在2019年收到来自新海外客户的更多订单。该部门将从2019年初起取消某些新的低利润,大批量产品,并将重点放在来自潜在的新客户有利可图的项目上。预计2018年某些电子元件的严重短缺将在未来几年内得到缓解。

原始电线和电缆的制造活动所产生的收入(16%)将继续增长,并在不久的将来保持稳定的利润率。它的两种主要原材料,即铜和聚氯乙烯的成本在不久的将来预计将相对稳定。预计公司将维持其售价并从客户那里获得更多订单,以维持该业务的利润率。

借助中美贸易战的潜在好处,泰国的电缆组装和线束活动(3%)活动的收入预计将通过其新成立的塑料零件和PCB组装小型工厂在未来几年内增长。管理层认为,从2020年起,该部门将有很大潜力探索泰国市场的更大业务规模。贸易部门(占1%)将继续为东盟市场的客户推广各自的母公司产品。

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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 RM2.28 (dividend RM0.04) in 1 year 8 months 25 days, total return is 224.5%

b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.71 (dividend RM0.04) in 1 year 10 months 6 days, total return is 120.1%

c) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM3.50 (adjusted)(dividend RM0.055) in 11 months 5 days, total return is 112.9%

d) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM1.11 in 1 year 3 months 17 days, total return is 93%

e) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.22 (dividend RM0.148) in 1 Year 6 months 30 days, total return is 48.9%

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。

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有兴趣的朋友,可以电邮或PM FB page联络我

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电话/Whatsapp : 011 - 15852043

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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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[P I E INDUSTRIAL BHD: lower administrative and distribution expenses]

4Q19 vs 4Q18:
The Group's revenue for the current quarter under review was RM160.626 million and profit before tax was RM12.974 million. The decline of PBT was offset against lower administrative and distribution expenses in the current quarter.

YTD19 vs YTD18:
The decrease of revenue was partly offset with higher revenue from electronics manufacturing activities (EMS). For the financial period ended 31 December 2019, the Group recorded profit before tax of RM45.801 million, a decrease of 17% or RM9.584 million as compared to the corresponding period ended 31 December 2018 of RM55.385 million. The decrease was partially offset against lower administrative and distribution expenses, reversal of impairment of trade receivables and higher investment income.

4Q19 vs 3Q19:
The Group's profit before tax for the current quarter has decreased by 43% as compared to preceding quarter. The decrease was offset against lower administrative and distribution expenses, gain on fair value adjustment of investment properties and higher investment income.

As at 31 December 2019, the Group's total liabilities decreased by 45% or RM72.884 million to RM90.340 million from RM163.224 million as at 31 December 2018. The decrease was mainly due to repayment of short term borrowing and trade payables. The Group's total equity as at 31 December 2019 increased by RM19.502 million to RM449.203 million as compared to RM429.701 million as at 31 December 2018. The increase in total equity is due to increased in distributable retained earnings as a net result of net profit of RM36.557 million for the current financial period under review and payment of dividends amounting to RM19.202 million. During the financial period under review, non-distributable reserves also increased by RM2.147 million due to changes in foreign exchange translation reserve.

Prospects:
For EMS activities (80%), orders are expected to increase in the long run from existing customers and potential new customers through its fully built-up vertical integrated manufacturing facilities which will be further improved in operation for the coming years. Due to the beneficial effect of USA-China trade war, this division is expected to receive more orders from new overseas customers in 2019. This division will cancel certain new low-margin, high-volume products since beginning of 2019 and focus on profitable projects from potential new customers. The serious shortage of certain electronics component in 2018 is expected to be smoothen in coming years.

Revenue derived from the manufacturing activity of raw wire & cable (16%) will continue to grow, with consistent profit margin in near future. The cost of its two main raw materials i.e copper and PVC are expected to be relatively stable in the near future. The Company is expected to maintain its selling price and secure more orders from its customers in order to maintain the profit margin from this segment.

With the potential benefit of USA-China trade war effect, the revenue from cable assembly & wire harness (3%) activities in Thailand is expected to grow in coming years through its newly set-up smallscale facilities for plastic parts and PCB assembly. The management believes this division will have high potential to explore wider business scale in Thailand market from 2020 onwards. The trading segment (1%) will continue to promote respective parent companies products for the customers in the ASEAN market.
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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

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