【 CYL 7157 CYL CORPORATION BERHAD 】股价飙涨、业绩仍欠佳
对于 Trader 来说,CYL(7157)这家公司应该不会太陌生;该公司自 9 月份以来,已经从 RM 0.400 左右的价位飙升至今天闭市的 RM 1.160,想必有不少 Trader 跟进。
在 11 月尾,CYL 也遭受交易所的 UMA 质问,不过如同其他被发出 UMA 的公司一样,公司的回答也同样是 “不知情”。
今天,CYL 在该季(Q3)也已经是连续第二个亏损的季度,到底公司为什么会陷入亏损,股价上涨背后,又有什么原因呢?
#营业额比较(YoY 跌 11.70%、QoQ 跌 0.34%)
先简单介绍一下 CYL 的业务;CYL 通过旗下的 Perusahaan Jaya Plastik (M) Sdn. Bhd.(“PJPSB”)主要制造如瓶子、罐子等模塑塑料产品(“Moulded Plastic Products”),举个例子就是我们汽车在更换机油时的那个塑料罐子,或洗衣液用的塑料罐子等。
在该季中,公司并无解释其营业额下滑的原因,而按季比较也是相同,也是没有给予太多可以参考的资讯。
不过,在 2022 年股东大会中,CYL 的管理层有提到公司其中一位价值超过 RM 10.0 Million 的客户被竞争对手拿下,而该公司恰好被印度的另一家集团收购,进而丢失了这位客户,相信这也是公司在近期来下滑的因素。
#税后盈利比较(YoY 跌 106.90%、QoQ 起 41.11%)
以税后盈利(亏损)来看,CYL 在去年同期曾经有一个 RM 1.8 Million 左右的 Reversal of Impairment,即对账目上的库存价值进行调整,同时也有 RM 0.6 Million 左右的税务回扣 – 若是没有这两个一次性的盈利的话,实质上公司在去年同期也是将近亏损的。
若以按季来看,由于其亏损基数较低,因此些许的变化都会看起来有很大的收窄,但以数字而言是差别不大的。
#前景展望
在股东大会中,CYL 曾经提到他们目前的产能为 75.0% 左右,而公司目前也在降低其开销;虽然公司也有提到他们获得了一位新的客户,但是却没有提到客户可能带来的营业额有多少。
在油价和 USD/MYR 上涨之下,公司本身的树脂(“Resin”)成本也会有所上涨,并且公司在过去曾经有 500 多位员工(现在已经下调),最低薪资从 RM 1,200 调整至 RM 1,500 也对于公司来说是一个很大的负面影响。
而有趣的是,公司目前的 EPS 和股价已经导致他们有 4 位数的 PE 估值(2,900 倍),暂时来说还看不到季报中有任何亮点反映了公司的股价上涨。
读者们认为,公司的股价上涨除了外部因素之外,内部会不会有惊喜呢?
- 与 Exeed Group 开设股票户口:https://bit.ly/3d4fjav
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Disclaimer: Exeed Group accepts no liability whatsover for any direct or consequential loss arising from any use of content here.
#CYL
#EXEED
#BURSA
#股票
https://klse.i3investor.com/web/blog/detail/exeedgroup/2022-12-20-story-h-302938540
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