[INARI AMERTRON BHD：RF部门表现持平，与近年来半导体行业各部门的均匀增长不同，他们预计未来几个季度各行业和个别产品线的增长将出现显着不均衡]
2Q19 vs 2Q18:
益纳利美昌本季度收入为3亿零10万令吉，较去年同期减少20.2％，而去年同期是益纳利美昌的历史高峰季度。收入减少的部分原因是上一财政年度出售51％股权子公司的资产，而主要传感器产品的销量相对较低。
益纳利美昌的税前利润由7,790万令吉减少23.7％至5,970万令吉，税后溢利由截至2017年12月31日止的相应季度的6,910万令吉减少20.1％至5,520万令吉。税前和税后利润减少主要是与上一个财政年度的同期相比，收入量减少以及产品组合的变化。
2Q19 vs 1Q19：
益纳利美昌本季度的收入为3亿零10万令吉，较上一季度录得的收入3.257亿令吉减少7.9％，主要原因是传感器产品需求减少。益纳利美昌的税前利润由去年同期的6,490万令吉减少8.4％至5,950万令吉，税后利润由上一季度的6,010万令吉减少8.3％至5,520万令吉。这主要是由于与前一季度相比，外汇汇率较不利。
YTD19 vs YTD18:
截至二零一八年十二月三十一日止六个月，益纳利美昌的收入由去年同期的7.491亿令吉减少16.4％至6亿2590万令吉。益纳利美昌的税前利润由1.516亿令吉减少17.9％至1.244亿令吉和税后利润从上一季度相应的财政期间的1.378亿令吉减少16.3％至1.153亿令吉，主要是由于他们的工厂产量需求减少和产品组合变化。
前景：
国际货币基金组织（IMF）在其2019年1月的“世界经济展望”（“WEO”）更新中报告称，2018年的全球增长率估计为3.7％; 2019年和2020年的全球增长预测分别进一步下调至3.5％和3.6％，比2018年10月WEO报告的最新预测低0.2％和0.1％。
2019年的全球增长预测在2018年10月的“世界经济展望”中已经下调，部分原因是当年早些时候美国和中国实施的关税增加的负面影响。进一步向下修正部分反映了2018年下半年疲软势头的延续，其他因素增加了全球投资和增长的下行风险，包括新政府政策议程的不确定性，美国联邦政府旷日持久的关闭，以及地缘政治中东和东亚的紧张局势。
他们的光电子部门在某些产品线上有所增长，而RF部门则表现持平。与近年来半导体行业各部门的均匀增长不同，他们预计未来几个季度各行业和个别产品线的增长将出现显着不均衡。
总体而言，截至2019年6月30日结束的新财政年度，鉴于目前的地缘政治和地缘经济不确定性，他们看到整体业务面临一些挑战，即旗舰智能手机的射频领域，而光电子领域继续表现出弹性。这是在排除美联储此前预期会在2019年加息但后来反悔导致美元贬值，导致益纳利美昌有不利外汇汇率的负面影响。
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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 RM1.13 in 2 months 4 days, total return is 41.3%
b) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.965 (dividend RM0.007) in 6 months 8 days, total return is 35.9%
c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.08 in 7 months 21 days, total return is 35.8%
d) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.30 in 1 month 29 days, total return is 34.7%
e) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM1.04 in 1 month 23 day, total return is 22.4%
f) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.22 (dividend RM0.0375) in 4 months 6 day, total return is 19.4%
g) HSL (HOCK SENG LEE BHD), recommended on 1 Jul 18, initial price was RM1.40, rose to RM1.52 (dividend RM0.01) in 7 months 19 days, total return is 9.3%
h) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.34 (dividend RM0.035) in 3 months 2 day, total return is 8.3%
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
【看懂年报和季报】课程
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https://web.facebook.com/jamesshareinvest/posts/2201547333445342 找到公司和选股文章以及视频。
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
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
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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[INARI AMERTRON BHD: RF division registered flat performance, unlike the even growth seen across sectors in the semiconductor industry in recent years, they anticipate significant unevenness in growth across sectors and individual product lines over the next few quarters]
2Q19 vs 2Q18:
The Group posted a revenue of RM300.1 million for the current quarter, representing a decrease of 20.2% compared to the corresponding quarter in the previous year, which was a historical peak quarter for the Group to-date. The lower revenue was also due in part to the disposal of assets of a 51% owned subsidiary during the last financial year and comparatively lower volume loading on a major sensor product.
The Group’s profit before tax decreased by 23.7% to RM59.7 million from RM77.9 million and profit after tax decreased by 20.1% to RM55.2 million from RM69.1 million compared to the corresponding quarter ended 31 December 2017. The decrease in profit before and after tax was mainly due to lower revenue volume and changes in product mix compared to the corresponding period in the previous financial year.
2Q19 vs 1Q19:
The Group’s revenue for the current quarter of RM300.1 million was 7.9% lower as compared to the revenue registered in the immediate preceding quarter of RM325.7 million which was primarily due to decrease in sensor product demand. The Group’s profit before tax decreased by 8.4% to RM59.5 million from RM64.9 million and profit after tax decreased by 8.3% to RM55.2 million from RM60.1 million in the immediate preceding quarter. These was mainly due to less favourable foreign exchange rates compared to immediate preceding quarter.
YTD19 vs YTD18:
The Group’s revenue for the six months ended 31 December 2018 recorded a decrease of 16.4% to RM625.9 million from RM749.1 million in the preceding year corresponding period. The Group’s profit before tax decreased by 17.9% to RM124.4 million from RM151.6 million and profit after tax decreased by 16.3% to RM115.3 million from RM137.8 million in the preceding quarter corresponding financial period are mainly due to decrease in demand of their factory output and changes in product mix.
Prospects:
The International Monetary Fund (IMF) in its January 2019 World Economic Outlook (“WEO”) update reported that global growth for 2018 is estimated at 3.7%; the global growth forecast for 2019 and 2020 had been revised further downward to 3.5% and 3.6% respectively, a 0.2% and 0.1% point below last projections reported in October 2018 WEO.
The global growth forecast for 2019 had already been revised downward in the last October 2018 WEO, partly because of the negative effects of tariff increases enacted in the United States and China earlier that year. The further downward revision in part reflects carry over from softer momentum in the second half of 2018, other factors adding downside risk to global investment and growth include uncertainty about policy agenda of new administrations, a protracted United States federal government shutdown, as well as geopolitical tensions in the Middle East and East Asia.
Their optoelectronics division registered growth in certain product lines while the RF division registered flat performance. Unlike the even growth seen across sectors in the semiconductor industry in recent years, they anticipate significant unevenness in growth across sectors and individual product lines over the next few quarters.
Overall for the new financial year ending 30 June 2019, given current geo-political and geo-economic uncertainties, they see some challenges in their overall business in particular, the RF segment for the flagship smartphones while the optoelectronics segment continues to show resilience. This is barring any negative impact from unfavorable forex rates for the Group resulting from the decline in the US Dollar due to the rolling back of the Federal Reserve’s previously expected rate hikes in 2019.
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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 RM1.13 in 2 months 4 days, total return is 41.3%
b) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.965 (dividend RM0.007) in 6 months 8 days, total return is 35.9%
c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.08 in 7 months 21 days, total return is 35.8%
d) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.30 in 1 month 29 days, total return is 34.7%
e) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM1.04 in 1 month 23 day, total return is 22.4%
f) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.22 (dividend RM0.0375) in 4 months 6 day, total return is 19.4%
g) HSL (HOCK SENG LEE BHD), recommended on 1 Jul 18, initial price was RM1.40, rose to RM1.52 (dividend RM0.01) in 7 months 19 days, total return is 9.3%
h) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.34 (dividend RM0.035) in 3 months 2 day, total return is 8.3%
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/2201547333445342 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://www.facebook.com/jamesshareinvest/posts/2202789903321085
