[P I E INDUSTRIAL BHD：对于EMS活动，预计订单将通过其完全建立的垂直整合制造设施从现有客户和潜在新客户稳步增长，这些设施在过去5年中已得到改善]
4Q18 vs 4Q17:
广宇工业于本季度的收入为1.9995亿令吉，税前利润为2,282.3万令吉。与去年相应的季度相比，收入增加了1666.3万令吉或9％。增加的主要原因是现有客户对电子制造（EMS）和线束产品的需求增加，但部分被原始电线电缆产品，交易活动的收入减少所抵消。税前利润下降被本季度录得的收入增加及产品组合利润率上升及外币汇兑收益及投资物业价值调整收益增加所抵消。
YTD18 vs YTD17：
收入减少部分被线束产品和贸易部门收入增加所抵消。税前利润下降部分被外币汇兑收益增加，贸易应收账款减值拨回，投资收益增加及投资物业公允价值调整收益所抵销。
4Q18 vs 3Q18：
广宇工业于本季度的收入较上一季度增加15％。这一增长主要是由于EMS，线束产品和贸易部门的需求增加，但是由于原始电缆和电线产品的收入减少而导致被抵消。
广宇工业本季度税前利润较上一季度增加62％。该改善主要是由于收入增加，行政及分销开支减少，投资物业价值调整收益，外币汇兑收益增加，投资收益增加，贸易应收款项减值拨回及对于缓慢移动的库存的拨备拨回，但被较高的销售成本和较低的废钢销售收入抵消。
截至二零一八年十二月三十一日，广宇工业的总资产由2017年12月31日的5.29959亿令吉增加15％或8180.2万令吉至6.11761亿令吉。增长主要来自持牌银行短期存款增加和贸易应收款。现金水平的增加是由于短期借款的融资3629.9万令吉，贸易应收账款的增加是由于本季度的销售增加所致。
于二零一八年十二月三十一日，广宇工业的权益总额轻微增加7％或2767万令吉至4.29701亿令吉，而2017年12月31日为4.02031亿令吉。总权益增加乃由于可分配留存收益增加（净利润为4,314.2万令吉的净结果）以及采纳MFRS 9对本财政期间的期初余额681.6万令吉的影响以及支付的股息金额为2304.3万令吉。于回顾财政期间，由于外汇换算储备变动，不可分配储备亦增加75.5万令吉。
前景：
对于EMS活动（76％），预计订单将通过其完全建立的垂直整合制造设施从现有客户和潜在新客户稳步增长，这些设施在过去5年中已得到改善。新客户的新产品数量将从Q1 / 19开始。由于中美之间的贸易战的影响，这个部门将从2019年起，将从海外新客户那里获得更多新的业务订单而受益。预计2018年某些电子元件严重短缺将在未来几个月内得到解决。
原始电线电缆制造业务（18％）的收入将继续增长，来年的利润率将保持稳定。预计其两种主要原材料（铜和PVC）的成本在不久的将来将保持在较高水平，这将提高其销售价格并从客户那里获得更多订单。
泰国的电缆组装和线束（3％）活动的收入预计将通过其新设立的塑料零件和PCB组装的小型设施在未来几年内增长。管理层认为，从2019年起，这个部门在探索泰国市场更广泛的业务方面具有很大的潜力。贸易部门（3％）将继续为东盟市场的客户推广母公司的产品。基于上述发展，广宇工业预期未来数年将有令人满意的表现。
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James Ng Stock Pick Performance:
Since Recommended Return:
a) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.22 in 2 months 19 days, total return is 52.5%
b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.18 in 8 months 7 days, total return is 48.4%
c) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM1.00 (dividend RM0.007) in 6 months 23 days, total return is 40.8%
d) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.25 in 2 months 13 days, total return is 29.5%
e) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.70 in 1 month 16 days, total return is 21.7%
f) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.20 (dividend RM0.0375) in 4 months 21 day, total return is 18.4%
g) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.43 (dividend RM0.035) in 3 months 17 days, total return is 15.4%
h) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.975 in 2 months 9 day, total return is 14.7%
i) FIAMMA (FIAMMA HOLDINGS BHD), recommended on 23 Sep 18, initial price was RM0.495, rose to RM0.52 in 5 months 15 days, total return is 5.1%
j) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.48 (dividends RM0.02) in 5 months 7 days, total return is 4.9%
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。
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 https://web.facebook.com/jamesshareinvest/ 与我联系
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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: For EMS activities, orders are expected to increase steadily from existing customers and potential new customers through its fully built-up vertical integrated manufacturing facilities which have been improved in operation for the past 5 years]
4Q18 vs 4Q17:
The Group's revenue for the current quarter under review was RM199.950 million and profit before tax was RM22.823 million. The revenue was increased by RM16.663 million or 9% if compared to preceding year corresponding quarter. The increase was mainly attributable to higher demand from existing customers for electronics manufacturing (EMS) and wire harness products but partly offset by lower revenue recorded for raw wire & cable products, trading activities. The decline of profit before tax was offset against higher revenue recorded and higher margin of products mix and higher foreign currency exchange gain and gain on fair value adjustment of investment properties in the current quarter.
YTD18 vs YTD17:
The decrease of revenue was partly offset with higher revenue from wire harness products and trading segments. The decline of profit before tax was partially offset against higher foreign currency exchange gain, reversal of impairment of trade receivables, higher investment income and gain on fair value adjustment of investment properties.
4Q18 vs 3Q18:
The Group’s revenue for the quarter under review has increased by 15% as compared with the preceding quarter. The increase was mainly due to higher demand recorded for EMS, wire harness products and trading segments but party offset with lower revenue achieved by raw cable & wire products.
The Group profit before tax for the current quarter has increased by 62% as compared to preceding quarter. The improvement was mainly due to higher revenue, lower administrative and distribution expenses, gain on fair value adjustment of investment properties, higher foreign currency exchange gain, higher investment income, reversal of impairment of trade receivables and reversal of provision for slow moving inventories but was offset against higher cost of sales and lower income from scrap sales.
As at 31 December 2018, the Group's total assets increased by 15% or RM81.802 million to RM611.761 million from RM529.959 million as at 31 December 2017. The growth was mainly contributed by the increase in short term deposits with licensed banks and trade receivables. The increase in cash level was due to financing activities in short term borrowing of RM36.299 million and increase in trade receivables was due to the increase in sales during the quarter.
The Group's total equity as at 31 December 2018 slightly increased by 7% or RM27.670 million to RM429.701 million as compared to RM402.031 million as at 31 December 2017. The increase in total equity is due to increased in distributable retained earnings as a net result of net profit of RM43.142 million and the impacts of adopting MFRS 9 to opening balances of RM6.816 million for the current financial period under review and payment of dividends amounting to RM23.043 million. During the financial period under review, non-distributable reserves also increased by RM0.755 million due to changes in foreign exchange translation reserve.
Prospects:
For EMS activities (76%), orders are expected to increase steadily from existing customers and potential new customers through its fully built-up vertical integrated manufacturing facilities which have been improved in operation for the past 5 years. Small volume of new products from new customers will be launched from Q1/19. Due to effect of trade war between USA-China, this division will be the beneficiary to take in new more business orders from oversea new customers from 2019 onwards. The serious shortage of certain electronics component in 2018 is expected to smooth in coming months.
Revenue derived from the manufacturing activity of raw wire & cable (18%) will continue to grow, with consistent profit margin in coming year. The cost of its two main raw material i.e copper and PVC are expected to maintain at a relatively high level in the near future, which will enhance its selling price and secure more orders from its customers.
The revenue from cable assembly & wire harness (3%) activities in Thailand is expected to grow in coming years through its the newly set-up small-scale facilities for plastic parts and PCB assembly. The management believes this divison have high potential to explore wider business in Thailand market from 2019 onwards. The trading segment (3%) will continue to promote parent company's products for the customers in ASEAN market. Based on the foregoing development, the Group expect highly satisfactory performance in the coming years.
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James Ng Stock Pick Performance:
Since Recommended Return:
a) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.22 in 2 months 19 days, total return is 52.5%
b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.18 in 8 months 7 days, total return is 48.4%
c) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM1.00 (dividend RM0.007) in 6 months 23 days, total return is 40.8%
d) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.25 in 2 months 13 days, total return is 29.5%
e) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.70 in 1 month 16 days, total return is 21.7%
f) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.20 (dividend RM0.0375) in 4 months 21 day, total return is 18.4%
g) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.43 (dividend RM0.035) in 3 months 17 days, total return is 15.4%
h) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.975 in 2 months 9 day, total return is 14.7%
i) FIAMMA (FIAMMA HOLDINGS BHD), recommended on 23 Sep 18, initial price was RM0.495, rose to RM0.52 in 5 months 15 days, total return is 5.1%
j) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.48 (dividends RM0.02) in 5 months 7 days, total return is 4.9%
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 https://web.facebook.com/jamesshareinvest/
In order to facilitate the query of the company and stock picking articles and videos I have written, an index has been produced. Everyone can find company and stock picking articles and videos from https://web.facebook.com/jamesshareinvest/posts/2209750675958341 by date.
James的股票投资James Share Investing Blog: https://klse.i3investor.com/blogs/general/
James的股票投资James Share Investing Blog Index: https://klse.i3investor.com/blogs/general/blidx.jsp
Facebook Group: https://www.facebook.com/groups/jamesinvesting
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/197332.jsp
