【 POHKONG 5080 POH KONG HOLDINGS BERHADd 】低估值的 “黄金“ 公司
无论读者们对黄金还是饰品是否感兴趣都好,相信对于 Poh Kong Holdings Berhad(POHKONG、5080)的品牌都应该有所听闻
虽然金价从年初至今比较已经有所下滑,不过据行内人事说,在政治动荡期中仍有不少投资者将资产分散至 “ Alternative Investment”,其中黄金和宝石就是其中一种,而这,也是 POHKONG 本身产品的核心。
#营业额比较(YoY 起111.28%、QoQ 跌10.68%)
那回到业绩表现上,POHKONG 在去年 Q1 时恰好仍被 MCO 影响其业绩表现(公司在 16.08.2021 才正式恢复零售门店的运作),因此在低基数和目前经济开放之下,我们可以看到 POHKONG 在按年比较之下的营业额出现明显的增长。
可惜的是,POHKONG 的季报内容并无详细的解释其业绩表现 。公司也并无解释为什么按季比较其营业额会下滑 10.68%;而版主作为投资者和消费者,只能大胆猜测在 Q4 的时候是属于报复性消费,而在该季中则是较为常态化的业绩。
#税后盈利比较(YoY 起 189.11%、QoQ跌 47.49%)
在营业额的差距之下,POHKONG 的税后盈利(“PAT”)在按年比较之下自然也有所上涨,而按季比较的话则应该是因为从报复性消费中常态化后而下跌。
相信读者们也会好奇,为什么 POHKONG 的营业额只下滑了 10.68%,其净利却下滑了 47.49% 呢 ?
以高营业额、较低盈利率的企业而言,营业额基数对于公司本身的盈利率有很大的影响;而 POHKONG 本身在 2019 财政年至 2022 财政年的盈利率分别为 2.59%、3.26%、4.07% 和 6.77%(报复性消费),而公司在该季中也回到了 4.23% 的盈利率,相信这才是公司常态化下的盈利率。
#前景展望
在 Q1 中,POHKONG 的净经营现金流支出为 RM 19.6 Million,而这主要是因为公司的库存增加了 RM 59.1 Million,不排除这是因为公司要在目前金价回调大量入手,还是另有故事
目前 POHKONG 也手握 RM 34.7 Million 的现金,其债务则是高达 RM 161.3 Million;但老实说,公司的库存高达 RM 703.0 Million,并且全部都是金或者是饰品,因此要将其转换为现金偿还贷款,并不是难事。
对于 2023 财政年呢,公司有提到其管理层有信心应付明年可能带来的挑战,不过却没有详细介绍其应对策略。
一般上来说,POHKONG 都是在 Q4 才派发股息,因此公司在该季中并无献议派发任何的股息;但以该季常态化业绩的 3.82 EPS 来计算的话,如果接下来几个季度业绩相近,那么公司的 FPE 2023F 估值才在 5 ~ 6 倍左右而已
不知道读者们又如何看待公司在该季中的业绩表现呢?
- 与 Exeed Group 开设股票户口:https://bit.ly/3d4fjav
- 加入 Exeed Group 的大家庭:https://bit.ly/3Bt3cx7
Disclaimer: Exeed Group accepts no liability whatsover for any direct or consequential loss arising from any use of content here.
#POHKONG
#EXEED
#BURSA
#股票
https://klse.i3investor.com/web/blog/detail/exeedgroup/2022-12-22-story-h-302876099
Singapore Investment Bloggers
-
-
-
-
-
-
-
-
-
-
-
SBJUL23 GX23070H is 2.82%5 hours ago
-
-
-
-
May 2023 Portfolio7 hours ago
-
Retirement Journey Update for May 20238 hours ago
-
-
-
-
Sea Limited – Dip or Doom?13 hours ago
-
-
-
-
-
Dividends for May 20231 day ago
-
-
-
-
Investment Summary - May 20231 day ago
-
-
-
-
-
-
Support Us: Learn To Invest1 day ago
-
-
Portfolio (May 31st, 2023)1 day ago
-
-
Portfolio Summary for May 20232 days ago
-
-
-
Looking at Rental Yields2 days ago
-
-
-
-
-
-
-
-
Month of May 20232 days ago
-
-
-
I was right! Sort of....2 days ago
-
-
-
Updates for May 20233 days ago
-
-
-
-
-
-
-
-
-
-
-
Dirty, Dirty Coal6 days ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Meta's new Twitter competitor1 week ago
-
Liquidity, Liquidity, Liquidity1 week ago
-
-
-
-
-
-
-
-
-
-
Success in life2 weeks ago
-
-
Eh Aye…2 weeks ago
-
Welcome Rain!2 weeks ago
-
-
-
-
A New Light3 weeks ago
-
-
-
-
$250 to 5mil3 weeks ago
-
-
-
-
-
-
Monthly Summary of April 20234 weeks ago
-
-
-
-
-
-
My retirement test drive: Q1, 20231 month ago
-
Snack Empire – Crunch Time1 month ago
-
祭友文:拿起来,再放下1 month ago
-
-
-
-
-
The Ben Mezrich Screenplay Token1 month ago
-
-
-
1Q 2023 Investment Strategy Update1 month ago
-
-
-
Dividends Contributors – Top 102 months ago
-
-
Individual Income Tax Season 2023 Singapore2 months ago
-
-
-
How long is the RES course?2 months ago
-
Cost of having a baby2 months ago
-
-
-
I don’t know how My Portfolio is Performing2 months ago
-
-
-
-
-
-
How to become a real estate agent in Singapore3 months ago
-
-
New Launch Spotlight: The Botany at Dairy Farm4 months ago
-
A New Beginning – The Year of the Rabbit4 months ago
-
-
-
Demoralized4 months ago
-
2022 Thoughts, Hello 2023!5 months ago
-
-
Series of Defaults for Maple Finance5 months ago
-
Takeaways from “Sea Change”5 months ago
-
-
Greed is Coming Back6 months ago
-
-
-
-
Investing is Easy6 months ago
-
-
-
-
-
-
-
-
-
Portfolio Update - 2Q202210 months ago
-
-
What is Overemployment11 months ago
-
Terra Hill Condo (former Flynn Park)11 months ago
-
Alibaba VS Tencent: The Battle Royale11 months ago
-
-
-
-
-
-
-
-
-
Recent Post
-
-
-
-
-
RCECAP 9296 RCE CAPITAL BERHAD 改变派息政策1 week ago
-
-
二小姐《无情的人儿》2 weeks ago
-
-
-
-
-
-
-
下跌股:康大工业(KOTRA,0002, 主板保健股) RM5.57支撑4 months ago
-
-
【马股】16%+高息股!0负债高现金!能入吗?6 months ago
-
8月棕油库存料升13.5% 种植公司次季净利看涨9 months ago
-
CHINWEL – Not too late to invest.11 months ago
-
恒大置地(TAMBUN,5191,主板产业股)迈向98仙/敏源1 year ago
-
-