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[LCTITAN (5284) 乐天大腾化学 LOTTE CHEMICAL TITAN HOLDINGS BHD:平均产品售价和销量下降,这是由于需求疲软以及东南亚本地和国内不同级别的行动控制所致(自2020年1月下旬以来,COVID-19发生大流行)] - James的股票投资James Share Investing

1Q20 vs 1Q19:
乐天大腾化学的收入从21.700亿令吉减少32.6%(或7.082亿令吉)至14.618亿令吉,这是由于平均产品售价和销量下降所致,这是由于需求疲软以及东南亚本地和国内不同级别的行动控制所致(自2020年1月下旬以来,COVID-19发生大流行)。一些主要客户的运营受到影响,因为该地区采取了独特的措施,仅允许基本业务开展业务。

除病毒爆发外,由于工厂进行了重大维护而导致产量下降,这也导致销量下降。 2020年3月,该工厂进行了重大维护。 2020年第一季度的平均工厂利用率为66%,而2019年第一季度为87%。

税前利润从8910万令吉减少到2亿580万令吉的税前亏损的主要原因是由于产品售价下降和原料成本上升,从存货减记转回可变现净值3780万令吉到存货减记8140万令吉,Chemical Brothers Limited出售Lotte Chemical Titan Nusantara股份所获得的预提税1,980万令吉,以及应占联营公司亏损2170万令吉。税后盈利从5590万令吉减少至税后亏损1.695亿令吉,这主要是由于库存减记至可变现净值的增加所致。

烯烃和衍生物:
该部门的收入从2019年第一季度的4.355亿令吉减少至2020年第一季度的2.468亿令吉。这是由于2020年第一季度的售价和销量与去年同期相比有所下降。税前利润从1,610万令吉减至税前亏损1.308亿令吉,这主要是由于产品售价下降,原料成本上升以及库存减记至可变现净值所致的利润率下降。

聚烯烃产品:
该部门的收入从2019年第一季度的17.345亿令吉减少至2020年第一季度的12.15亿令吉。这是由于2020年第一季度的售价和销量与去年同期相比有所下降。税前利润从9,720万令吉减少至1.279亿令吉的税前亏损,主要是由于产品售价下降,原料较贵和存货减记至可变现净值,导致利润率下降。

1Q20 vs 4Q19:
集团收入从19.739亿令吉减少5.121亿令吉或25.9%至14.618亿令吉,这是由于2020年第1季度的销量与上一季度相比大幅下降,以及平均产品售价略有下降。 2020年第一季度的工厂利用率为66%,而上一季度为86%,这归因于2020年3月的重大维护。

税前利润从2019年第四季度的1.424亿令吉减少到2020年第一季度的2.058亿令吉的税前亏损,这主要是由于产品售价下降和原料成本上升,库存减记至可实现净值增加6,670万令吉,Chemical Brothers Limited出售Lotte Chemical Titan Nusantara股份的预扣税1,980万令吉,以及联营公司应占业绩的减少(主要是由于在2019年第四季将LACC LLC的股权一次性出售给Eagle LLC录得1.395亿令吉的利润),导致利润率降低。

前景:
在全球范围内,COVID-19的传播愈演愈烈,迄今尚未发现有效疫苗的情况下,由于全球对COVID-19大流行对经济影响的严重性的担忧加剧,下行经济风险现在更为普遍。这种情况也适用于他们的集团,因为石化行业与驱动全球经济增长的总体消费模式有关联。
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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 RM2.60 (dividend RM0.04) in 1 year 10 months, total return is 269.2%

b) TOPGLOV (TOP GLOVE CORP BHD), recommended on 1 July 18, initial price was RM12.14, rose to RM33.80 (adjusted)(dividend RM0.32) in 1 Year 11 months 11 days, total return is 181.1%

c) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM3.68 (adjusted)(dividend RM0.055) in 1 Year 10 days, total return is 123.7%

d) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.72 (dividend RM0.04) in 1 year 11 months 11 days, total return is 121.4%

e) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.935 in 1 year 4 months 23 days, total return is 62.6%

f) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.35 (dividend RM0.148) in 1 Year 8 months 5 days, total return is 57.1%

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页面与我联系。

Whatsapp : 011 - 15852043

Facebook Group: https://www.facebook.com/groups/jamesinvesting

这个是我的TELEGRAM Group链接,大家可以在这个Group获知何时做Fb live: https://t.me/joinchat/LhwHNhdU1fDgxrSafTrTiw

请大家来Follow James的Instagram,获取最新的资讯:jamesnginvest

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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[LOTTE CHEMICAL TITAN HOLDINGS BHD: decrease in average product selling price and sales volume which was due to weakened demand followed by the different level of movement controls established locally and in Southeast Asia resulting from COVID-19 pandemic since late January 2020]

1Q20 vs 1Q19:
Group revenue decreased by 32.6% (or RM 708.2 million) from RM 2,170.0 million to RM1,461.8 million owing to decrease in average product selling price and sales volume which was due to weakened demand followed by the different level of movement controls established locally and in Southeast Asia resulting from COVID-19 pandemic since late January 2020. The operation of some of the main customers were affected due to the distinctive measures were introduced in the regions to allow only essentials businesses to operate.

Apart from the virus outbreak, reduction in production quantity resulting from the major statutory turnaround conducted has also attributed to the decrease in sales volume. In March 2020, the plant conducted major statutory turnaround. The average plant utilisation rate was 66% in Q1 2020 compared to 87% in Q1 2019.

The main reason for the decrease in profit before tax from RM 89.1 million to loss before tax of RM 205.8 million is mainly due to margin squeeze resulting from the fall in product selling prices and higher feedstock costs, increase in write down of inventories to net realisable value to RM 81.4 million from reversal of write down of inventories to net realisable value of RM 37.8 million, withholding tax from disposal of Lotte Chemical Titan Nusantara's shares by Chemical Brothers Limited by RM 19.8m and share of associates losses by RM 21.7 million. Profit after tax decreased from RM 55.9 million to loss after tax of RM 169.5 million mainly due to the higher write down of inventories to net realisable value.

Olefins and derivative products:
The segment recorded a decrease in revenue from RM 435.5 million in Q1 2019 to RM246.8 million in Q1 2020. This was due to the decrease in selling prices and sales volume in Q1 2020 as compared to the corresponding quarter. Profit before tax decreased from RM 16.1 million to loss before tax of RM 130.8 million mainly due to margin squeeze resulting from fall in product selling prices, higher feedstock costs and write down of inventories to net realisable value.

Polyolefin products:
The segment recorded a decrease in revenue from RM 1,734.5 million in Q1 2019 to RM1,215.0 million in Q1 2020. This was due to the decrease in selling prices and sales volume in Q1 2020 as compared to the corresponding quarter. Profit before tax decreased from RM 97.2 million to loss before tax of RM 127.9 million mainly due to margin squeeze resulting from the fall in product selling price, higher
feedstock and write down of inventories to net realisable value.

1Q20 vs 4Q19:
Group revenue decreased by RM 512.1 million or 25.9% from RM 1,973.9 million to RM1,461.8 million due to significant drop in sales volume in Q1 2020 compared to the preceding quarter and a slight decrease in average product selling prices. The plant utilisation rate was 66% in Q1 2020 comparing to 86% in the preceeding quarter attributable to major statutory turnaround in March 2020.

Profit before tax decreased from RM 142.4 million in Q4 2019 to loss before tax of RM 205.8 million in Q1 2020 mainly due to margin squeeze resulting from the fall in product selling price and higher feedstock costs, increase in write down of inventories to net realisable value by RM66.7 million, withholding tax from disposal of Lotte Chemical Titan Nusantara's shares by Chemical Brothers Limited by RM 19.8m and decrease in share of result from associates due mainly to one-off gain on disposal of equity interest in LACC LLC to Eagle LLC of RM 139.5 million recorded in Q4 2019.

Prospects:
Amidst the intensifying spread of COVID-19 worldwide and with no effective vaccines been found to-date, the downside economic risks are now more prevalent due to heightened global concerns on the severity of impact of the pandemic to the global economy. This situation also applies to their Group as the petrochemical industry correlates with and heavily dependent on the overall consumption patterns which drive the global economic growth.
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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/2020-06-13-story-h1508761994.jsp
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