[PENTAMASTER CORP BHD：发起了另一项专有解决方案，即i-Hub，以创建一个更智能，更具成本效益的仓储和物流环境]
腾达科技在本季度录得收入为1.260亿令吉，比去年同期的1.122亿令吉增加了12.3％。录得较高收入主要是由于自动化测试设备（“ ATE”）经营部门的销售增加。
截至2019年12月31日的12个月，腾达科技的收入为4.901亿令吉，较上一年同期的4.222亿令吉，增长16.1％，主要是由于自动化测试设备（ATE）经营部门的销售额增加。
由于在截至2019年12月31日的三个月中取得了更高的收入，腾达科技因此在本季度录得3,820万令吉的税前利润，比去年同期的3,040万令吉的税前利润更高，增长25.4％。
截至2019年12月31日止年度，腾达科技录得除税前盈利1.389亿令吉，较截至2018年12月31日止财政年度的经调整除税前盈利1.056亿令吉增加31.5％（排除2018年产生一笔过的上市开支）。截至2019年12月31日止财政年度的除税前溢利增加，主要是由于腾达科技的营运效率改善，而毛利率由截至2018年12月31日止年度的32.6％上升至2019年12月31日止财政年度的36.6％。
自动化测试设备：
该部门在本季度的收入比去年同期增加了2960万令吉或36.9％至1.098亿令吉，截至2019年12月31日的财政年度收入也增加了8250万令吉或23.7％至4.312亿令吉（与截至2018年12月31日的财政年度相比）。截至2019年12月31日的ATE部门的收入增长主要是由于对智能传感器的需求持续增长，加上其不断发展的复杂性，和在电信和汽车领域的广泛采用率，导致该集团的智能设备测试处理程序和解决方案的需求有增长。在电信领域，该集团目睹了更加多样化和复杂的产品组合，其中包括用于透镜，准直仪和漫射光学器件的3D传感器模块的测试设备以及有源对准组装设备。这些新的ATE产品和解决方案进一步补充了对集团针对环境和传感器的旗舰测试解决方案的持续需求，这些解决方案是针对智能手机及其外围设备定制的。
尽管就收入贡献而言，电信行业仍在ATE市场中占主导地位，但腾达科技仍在不断努力将其收入基础分散到其他市场，尤其是汽车市场。在这一年中，集团通过交付主要用于MLCC（多层陶瓷电容器），IGBT（绝缘栅双极晶体管），汽车电源管理和功率器件的测试处理设备，为汽车业务带来了可圈可点的贡献。展望未来，根据腾达科技从新的全球汽车零部件公司获得的订单数量，预计腾达科技在汽车行业的业务发展势头将会增加。
考虑到当前趋势，即新一代设备通常具有更高的周转率和更短的上市时间，尽管腾达科技对消费者和工业产品领域的敞口日益增加，显示出积极的势头，但对来年腾达科技智能传感器测试设备和解决方案的需求仍然强劲。
由于取得了更高的收入和销售组合的变化，该部门在本季度的税前利润增加了1,410万令吉或55.1％，而去年上一季度同期的税前利润则为2,560万令吉。截至2019年12月31日止财政年度，由于集团的营运效率改善，腾达科技的除税前利润较截至2018年12月31日止财政年度增加3,930万令吉或41.2％。
工厂自动化解决方案：
腾达科技在本季度的除税前利润减少了450万令吉，而上一个同期的除税前利润则为490万令吉，这主要是由于人事成本增加。截至2019年12月31日止财政年度，腾达科技的除税前溢利录得880万令吉，比较截至2018年12月31日止财政年度的除税前溢利为900万令吉，减少了20万令吉或2.2 ％是由于项目交付的时间差异超出了2019年。
尽管如此，鉴于工业4.0的盛行及其在人工智能（“ AI”）领域的发展，该集团在FAS部门中持乐观态度。此外，由于熟练工人的严重短缺，人工成本的上升以及对制造更高精确度的要求，腾达科技在各个生产阶段（包括生产，采购，仓储和物流）都面临着巨大的机遇，目的是缩短生产时间。在此背景下，集团利用其专有的智能自动化机器人制造系统（i-ARMS）解决方案，通过其智能物料搬运系统和复杂的制造执行系统（MES）来定制集成自动化解决方案。年内，FAS部门为其i-ARMS解决方案赢得了大中华地区的新客户，该解决方案将在下一个财政年度交付。TP被收购后，是一家从事医疗机器制造和组装以及压铸零件制造的公司，FAS部门有望见证医疗部门的进一步增长和贡献。此次收购代表了一个不断增长的业务部门，以积极的增值协同作用补充了集团现有的产品和解决方案，从而补充了集团的增长催化剂。
集团在槟城Batu Kawan建立生产工厂的时机恰到好处，以支持FAS部门的上述机会。集团坚信自动化的需求不断增长，并且随着当前的AI和数字化浪潮，FAS部门将对集团的增长前景处于有利地位。
智能控制解决方案系统：
该部门在本季度录得80万令吉的税前亏损，而去年同期则为30万令吉的税前亏损。该部门在截至2019年12月31日的财政年度录得除税前亏损160万令吉，而在截至2018年12月31日的财政年度则录得除税前利润60万令吉。
QoQ:
截至2019年12月31日的第四季度，腾达科技的收入为1亿2600万令吉，比上一季度的1亿2460万令吉增加了1.1％。本季度中录得的较高收入是由于FAS运营部门的销售额增加。
集团在本季录得3,820万令吉的税前利润，比上一季的3,320万令吉的税前利润增加15.1％，主要是由于毛利率增加，和行政费用减少的原因是本季度总人事费用降低。
自动化测试设备：
该部门的除税前利润为3,970万令吉，而上一季度为2,950万令吉，主要是由于本季度产品组合的改善。
工厂自动化解决方案：
该部门在本季度的收入比上一季度的1,700万令吉高出1,110万令吉。这主要是由于集团专有的i-ARMS解决方案及其集成制造解决方案和模块的交付量增加，这些解决方案和模块能够满足各个行业的广泛客户的需求。收入的增长也来自新收购子公司TP的收入。本季度该部门的税前利润较低，为340万令吉，这主要是由于产品组合的变化。
智能控制解决方案系统：
该部门的收入与上一季度相比增加了40万令吉。尽管本季度录得更高的收入，但由于经营成本增加，该部门录得80万令吉的税前亏损，而上一季度则录得30万令吉的税前亏损。
前景：
从目前的趋势和发展以及订单的可见性来看，腾达科技总体上对2020年的业务发展持乐观态度。鉴于自2019年以来困扰世界经济的当前宏观形势，该集团认为技术趋势和发展将继续。信息和通信技术（“ ICT”）产品在我们日常生活中的广泛使用导致了如今通常被称为第四次工业革命的发生。从互联网和智能手机到区块链技术和人工智能，整个社会似乎都准备就绪并渴望拥抱ICT领域的最新创新。 3D，AI，工业4.0，物联网（IoT），自动驾驶汽车，电动汽车（“ EV”）和5G等的应用已成为最受关注的主题。
进入新的十年，传统的一切照旧将通过“智能一切”进行全面改革，这将导致更多的人连接，更多的全球数据知识进行同步和分析，以及更多的机器人和自动化来挑战社会，政治，和经济格局。据报道，世界各地的城市已经开始采用3D人脸识别作为识别过程，并且由于排放法规的严格，预计电动汽车的销售将加速，将占汽车总销量的57.0％。同时，到2030年，全球8亿劳动力将被机器人自动化所取代。面对这样的情况，腾达科技相信，随着他们迈向下一个十年，不断探索，发展和挑战自己，会成为技术供应链中的关键角色。腾达科技将继续寻求潜在机会，以提升腾达科技的价值，并沿着技术价值链向上发展，以进一步巩固和增加其市场份额，并推动腾达科技进入下一增长阶段。
从当前的产品和解决方案产品来看，该集团将继续看到巨大的市场机遇，以加深其在光电领域的涉足，以适应智能传感器在更广泛的产品范围和市场中的广泛采用。从测试处理到组装，从智能手机到外围设备，从生物安全到游戏设备，从运动检测到augmented reality，从电信到汽车以及工业产品，腾达科技已在这些技术进步中占有一席之地，并将继续获得更大的吸引力。
同时，随着越来越多的公司将机器人自动化作为其制造过程的一部分，集团在FAS领域也看到了巨大的潜力和发展。凭借精度，效率，生产力，大数据和数字化，再加上中间供应链中断（例如贸易转移），腾达科技将继续利用其强大的往绩和能力来扩大市场份额并抓住不同行业领域的机会。据波士顿咨询集团（Boston Consulting Group）报道，到2025年，机器人自动化任务所占的份额预计将从目前的10％增长到目前的25％，在亚太地区，这种份额的增长机会将更加深刻。
鉴于当前正在改变制造业供应链的工业4.0的盛行，腾达科技目睹了自动化和数字化的巨大发展，其应用范围可以扩展到覆盖物流和存储领域。在此背景下，集团发起了另一项专有解决方案，即i-Hub，以创建一个更智能，更具成本效益的仓储和物流环境。
未来的仓库和配送系统将充满智能和互联的机器，而人工干预很少。集团相信其i-Hub的需求将是正面的，因为它是基于模块化概念的全自动产品，可节省空间，更好的可追溯性，提高速度和成本效益。
腾达科技一直密切监控冠状病毒（COVID-19）的发展，但其业务战略始终坚定不移，并致力于经济，环境和社会（EES）措施，以确保腾达科技业务的长期可持续性。腾达科技将继续加强其EES努力，并发挥良好企业公民的重要作用。
展望未来，在全球经济面临各种风险的情况下，腾达科技坚信以其核心价值观和员工的重要性为指导的坚实业务基础将使其迈入下一个增长阶段。除非出现任何严峻的外部市场环境和宏观经济因素，否则这公司将在未来几年继续保持积极增长，而腾达科技将继续在创造价值和回报股东方面发挥建设性作用。认识到唯一不变的就是“变化”，腾达科技将有机发展，并通过协同发展的收购或合作来抓住机遇。
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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 RM1.88 (dividend RM0.04) in 1 year 7 months 20 days, total return is 168.5%
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James Ng
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[PENTAMASTER CORP BHD: the Group has initiated another proprietary solution namely i-Hub to create an environment of a smarter and cost effective warehousing and logistic]
The Group recorded higher revenue at RM126.0 million in the current quarter as compared to RM112.2 million registered in the corresponding quarter last year, representing an increase of 12.3%. The higher revenue recorded was mainly due to increase in sales from the automated test equipment (“ATE”) operating segment.
The Group recorded a higher revenue at RM490.1 million for the twelve months ended 31 December 2019 as compared to RM422.2 million recorded in the previous corresponding year, representing an increase of 16.1% mainly due to increase in sales from the automated test equipment (“ATE”) operating segment.
Due to higher revenue achieved during the three months ended 31 December 2019, the Group consequently recorded a higher profit before taxation of RM38.2 million in the current quarter as compared to the profit before taxation of RM30.4 million in the previous corresponding quarter, representing an increase of 25.4%.
The Group recorded a profit before taxation of RM138.9 million for the year ended 31 December 2019, an increase of 31.5% as compared to the adjusted profit before taxation of RM105.6 million for the financial year ended 31 December 2018, after excluding the one-off listing expenses incurred in 2018. The increase in the profit before taxation for the financial year ended 31 December 2019 was mainly due to improvement in the Group's operating efficiency as evidenced by the increase in the gross profit margin from 32.6% in the financial year ended 31 December 2018 to 36.6% in the financial year ended 31 December 2019.
Automated test equipment:
This segment recorded an increase in revenue by RM29.6 million or 36.9% to RM109.8 million in the current quarter as compared to the previous corresponding quarter last year, and an increase in revenue by RM82.5 million or 23.7% to RM431.2 million for the financial year ended 31 December 2019 as compared to the previous financial year ended 31 December 2018. The growth in revenue under the ATE segment for the financial year ended 31 December 2019 was mainly attributable to continuous growth in the demand for smart sensors coupled with its evolving complexity and wider adoption rate across the telecommunications and automotive segments, leading to a demand-driven growth for the Group’s smart device test handlers and solutions. Within the telecommunications sector, the Group witnessed delivery of a more diverse and complex portfolio covering, among others, test equipment as well as active alignment assembling equipment for 3D sensor modules encompassing lens, collimator and diffuser optics. These new ATE products and solutions further supplemented the continuous demand for the Group’s flagship test solution in ambient and proximity sensors which are customised for the smartphones and its peripheral items.
While the telecommunications industry is still dominant within the ATE segment in terms of its revenue contribution, the Group has continuously endeavored to diversify its revenue base to other segments, in particular, the automotive segment. During the year, the Group’s exposure to the automotive segment had generated commendable contribution through the delivery of its test handling equipment mainly for MLCC (multilayer ceramic capacitors), IGBT (insulated-gate bipolar transistor), automotive power management and power devices. Moving forward, the momentum of the Group’s exposure in the automotive industry is expected to grow based on the number of orders the Group secured from new global automotive component companies.
Taking into account the current trend where new generation devices typically have a higher turnover rate and shorter time-to-market, the demand for the Group’s smart sensor test equipment and solutions remain robust in the coming year, notwithstanding the Group’s increasing exposure to the consumer and industrial product segment that is showing positive momentum.
As a result of higher revenue achieved and changes in sales mix, this segment recorded higher profit before taxation by RM14.1 million or 55.1% in the current quarter under review as compared to profit before taxation of RM25.6 million in the corresponding quarter last year. For the financial year ended 31 December 2019, The Group recorded higher profit before taxation by RM39.3 million or 41.2% as compared to the financial year ended 31 December 2018 due to improvement in the Group's operating efficiency.
Factory automation solutions:
The Group recorded lower profit before taxation by RM4.5 million in the current quarter under review as compared to profit before taxation of RM4.9 million in the previous corresponding quarter was mainly due to higher staff costs. For the financial year ended 31 December 2019, the Group recoded profit before taxation of RM8.8 million as compared to profit before taxation of RM9.0 million for the financial year ended 31 December 2018, representing a decrease of RM0.2 million or 2.2% due to the timing differences of project delivery that fell beyond 2019.
Nevertheless, the Group is positive in the FAS segment given the prevalence of Industry 4.0 and its advancement into the boundaries of artificial intelligence (“AI”). Furthermore, with the profound shortage of skilled workers, rise in labour costs and requirement for higher precision in manufacturing, the Group is witnessing strong opportunities in various manufacturing stages covering production, procurement, storage and logistics with the aim to reduce the time-to-market interval. Against this backdrop, the Group is leveraging on its proprietary intelligent Automated Robotic Manufacturing System (“i-ARMS”) solutions in customizing integrated automation solutions through its intelligent material handling system and sophisticated manufacturing execution system (“MES”). Within the year, the FAS segment has secured new customer in the Greater China region for its i-ARMS solutions for delivery in the coming financial year. Post-acquisition of TP, a company that is involved in the manufacturing and assembling of medical machines and manufacturing of die casting parts, the FAS segment is expected to witness further growth and contribution from the medical segment. The acquisition presents a growing business segment that complements the Group’s growth catalyst with positive synergy in value adding to the Group’s current products and solutions.
The Group’s establishment of the production plant in Batu Kawan, Penang took place at an opportune time to support the above opportunities of the FAS segment. The Group strongly believes on the growing needs for automation and with the current wave of AI and digitalisation, the FAS segment will be well positioned for the Group’s growth prospects.
Smart control solution system:
This segment recorded a loss before taxation of RM0.8 million in the current quarter as compared to loss before taxation of RM0.3 million in the corresponding quarter last year. This segment recorded loss before taxation of RM1.6 million for the financial year ended 31 December 2019 as compared to profit before taxation of RM0.6 million for the financial year ended 31 December 2018.
QoQ:
For the fourth quarter ended 31 December 2019, the Group recorded higher revenue at RM126.0 million as compared to the revenue of RM124.6 million in the preceding quarter, representing an increase of 1.1%. The higher revenue recorded in the current quarter under review was due to increase in sales from the FAS operating segment.
The Group recorded a higher profit before taxation of RM38.2 million in the current quarter as compared to the profit before taxation of RM33.2 million in the preceding quarter, representing an increase of 15.1% mainly due an increase in the gross profit margin and decrease in the administrative expenses from the lower overall staff costs incurred in the current quarter under review.
Automated test equipment:
This segment achieved a higher profit before taxation of RM39.7 million as compared to RM29.5 million in preceding quarter was mainly due to better product mix during the quarter.
Factory automation solutions:
Revenue from this segment in the current quarter was RM11.1 million higher against revenue of RM17.0 million in the preceding quarter. This was mainly due to higher delivery of the Group’s proprietary i-ARMS solutions as well as its integrated manufacturing solutions and modules that caters for a wide spectrum of customers in various industries. The increase in revenue was also contributed from revenue in the newly acquired subsidiary, TP. This segment recorded lower profit before taxation of RM3.4million in the current quarter was mainly due to changes in product mix.
Smart control solution system:
Revenue from this segment increased by RM0.4 million as compared to the preceding quarter. Despite recording higher revenue in the current quarter, this segment recorded a loss before taxation of RM0.8 million compare to loss before taxation of RM0.3 million recorded in the preceding quarter due to higher operating costs.
Prospects:
The Group generally possess an optimistic view of its business momentum in 2020 judging from the current trend and development coupled with its secured orders visibility. In light of the current macro situation that has gripped world economies since 2019, the Group believes technology trends and evolution will continue. The pervasive use of the Information and Communication Technology (“ICT”) products in our daily life has led to what is now often referred to as the 4th Industrial Revolution. From internet and smartphones to blockchain technology and the AI, the whole of society seems ready and eager to embrace the latest innovations in the ICT realm. Applications such as 3D, AI, Industry 4.0, IoT (Internet of Things), autonomous cars, electric vehicle (“EV”) and 5G have become the topics that gather most attention.
Coming into the new decade, the traditional business-as-usual will be overhauled with “Smart Everything” that will result in more people being connected, more global data knowledge to be synchronised and analysed and more robots and automation to challenge the social, political and economic landscape. It has been reported that cities across the world has started adopting 3D facial recognition as the identification process and that sales of EVs are expected to accelerate to account for 57.0% of total car sales mainly due to the tightening of emissions regulations. Meanwhile by 2030, 800 million global workforce will be replaced by robotic automation. With such onset staring at them, the Group believes in continuously exploring, developing and challenging itself to be a key player in the technology supply chain as we head towards the next decade. The Group will continue to seek potential opportunities that will enhance the Group’s value and move itself upwards along the technology value chain that could further solidify and increase its market share and propel the Group to the next growth phase.
From its current product and solution offerings, the Group continue to see huge market opportunities for it to deepen its involvement in the optoelectronics field, catering for a wider adoption of smart sensors in a broader product range and segments. From test handling to assembling, from smartphones to peripherals, from biosecurity to gaming devices, from motion detection to augmented reality, from telecommunications to automotive and to industrial products, the Group has gained exposure into these technology advancements and will continue to gain deeper traction.
Concurrently, the Group is also witnessing significant potential and development in its FAS segment with more and more companies adopting robotic automation as part of its manufacturing process. With precision, efficiency, productivity, big data and digitalisation, coupled with intermediate supply chain disruption such as trade diversion, the Group will continue to leverage on its strong track record and capabilities in furthering its market share and capturing opportunities across different industry segments. It has been reported by Boston Consulting Group that robotic automation share of tasks is expected to grow from the current average rate of 10% to 25% by 2025 in the United States and such share growth opportunity will be more profound in the Asia Pacific region.
Given the prevalence of Industry 4.0 that is currently transforming the manufacturing supply chain, the Group is witnessing huge development in automation and digitalisation that can be stretched in terms of its application to cover the area of logistic and storage. In this context, the Group has initiated another proprietary solution namely i-Hub to create an environment of a smarter and cost effective warehousing and logistic.
The warehouse and distribution system of the future will be full of smart and interconnected machines with minimal human intervention. The Group believes the demand for its i-Hub will be positive as it is a fully automated product based on modularity concept that allows for space saving, better traceability, speed enhancement and cost efficiency.
While the Group is closely monitoring the coronavirus (COVID-19) developments closely, it remains steadfast in its business strategies and is committed in its Economic, Environment and Social (“EES”) measures to ensure a long term sustainability of the Group’s businesses. The Group will continue to strengthen its EES effort and play its vital role as a good corporate citizen.
Going forward, with the global economy facing a confluence of risks, the Group believes strongly in a solid foundation of its business guided by its core values and the importance of its employees that will bring it to the next growth phase. Barring any acute external market conditions and macroeconomic factors, the Company will continue to grow positively in the coming years and the Group will remain constructive in creating value and returns to its shareholders. Acknowledging the only thing that is constant is “Change”, the Group will develop organically as well as embarking on opportunities via acquisitions or collaborations that are synergistic to the Group going forward.
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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.
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James Ng
https://klse.i3investor.com/blogs/general/2020-04-02-story-h1485760609.jsp
腾达科技在本季度录得收入为1.260亿令吉，比去年同期的1.122亿令吉增加了12.3％。录得较高收入主要是由于自动化测试设备（“ ATE”）经营部门的销售增加。
截至2019年12月31日的12个月，腾达科技的收入为4.901亿令吉，较上一年同期的4.222亿令吉，增长16.1％，主要是由于自动化测试设备（ATE）经营部门的销售额增加。
由于在截至2019年12月31日的三个月中取得了更高的收入，腾达科技因此在本季度录得3,820万令吉的税前利润，比去年同期的3,040万令吉的税前利润更高，增长25.4％。
截至2019年12月31日止年度，腾达科技录得除税前盈利1.389亿令吉，较截至2018年12月31日止财政年度的经调整除税前盈利1.056亿令吉增加31.5％（排除2018年产生一笔过的上市开支）。截至2019年12月31日止财政年度的除税前溢利增加，主要是由于腾达科技的营运效率改善，而毛利率由截至2018年12月31日止年度的32.6％上升至2019年12月31日止财政年度的36.6％。
自动化测试设备：
该部门在本季度的收入比去年同期增加了2960万令吉或36.9％至1.098亿令吉，截至2019年12月31日的财政年度收入也增加了8250万令吉或23.7％至4.312亿令吉（与截至2018年12月31日的财政年度相比）。截至2019年12月31日的ATE部门的收入增长主要是由于对智能传感器的需求持续增长，加上其不断发展的复杂性，和在电信和汽车领域的广泛采用率，导致该集团的智能设备测试处理程序和解决方案的需求有增长。在电信领域，该集团目睹了更加多样化和复杂的产品组合，其中包括用于透镜，准直仪和漫射光学器件的3D传感器模块的测试设备以及有源对准组装设备。这些新的ATE产品和解决方案进一步补充了对集团针对环境和传感器的旗舰测试解决方案的持续需求，这些解决方案是针对智能手机及其外围设备定制的。
尽管就收入贡献而言，电信行业仍在ATE市场中占主导地位，但腾达科技仍在不断努力将其收入基础分散到其他市场，尤其是汽车市场。在这一年中，集团通过交付主要用于MLCC（多层陶瓷电容器），IGBT（绝缘栅双极晶体管），汽车电源管理和功率器件的测试处理设备，为汽车业务带来了可圈可点的贡献。展望未来，根据腾达科技从新的全球汽车零部件公司获得的订单数量，预计腾达科技在汽车行业的业务发展势头将会增加。
考虑到当前趋势，即新一代设备通常具有更高的周转率和更短的上市时间，尽管腾达科技对消费者和工业产品领域的敞口日益增加，显示出积极的势头，但对来年腾达科技智能传感器测试设备和解决方案的需求仍然强劲。
由于取得了更高的收入和销售组合的变化，该部门在本季度的税前利润增加了1,410万令吉或55.1％，而去年上一季度同期的税前利润则为2,560万令吉。截至2019年12月31日止财政年度，由于集团的营运效率改善，腾达科技的除税前利润较截至2018年12月31日止财政年度增加3,930万令吉或41.2％。
工厂自动化解决方案：
腾达科技在本季度的除税前利润减少了450万令吉，而上一个同期的除税前利润则为490万令吉，这主要是由于人事成本增加。截至2019年12月31日止财政年度，腾达科技的除税前溢利录得880万令吉，比较截至2018年12月31日止财政年度的除税前溢利为900万令吉，减少了20万令吉或2.2 ％是由于项目交付的时间差异超出了2019年。
尽管如此，鉴于工业4.0的盛行及其在人工智能（“ AI”）领域的发展，该集团在FAS部门中持乐观态度。此外，由于熟练工人的严重短缺，人工成本的上升以及对制造更高精确度的要求，腾达科技在各个生产阶段（包括生产，采购，仓储和物流）都面临着巨大的机遇，目的是缩短生产时间。在此背景下，集团利用其专有的智能自动化机器人制造系统（i-ARMS）解决方案，通过其智能物料搬运系统和复杂的制造执行系统（MES）来定制集成自动化解决方案。年内，FAS部门为其i-ARMS解决方案赢得了大中华地区的新客户，该解决方案将在下一个财政年度交付。TP被收购后，是一家从事医疗机器制造和组装以及压铸零件制造的公司，FAS部门有望见证医疗部门的进一步增长和贡献。此次收购代表了一个不断增长的业务部门，以积极的增值协同作用补充了集团现有的产品和解决方案，从而补充了集团的增长催化剂。
集团在槟城Batu Kawan建立生产工厂的时机恰到好处，以支持FAS部门的上述机会。集团坚信自动化的需求不断增长，并且随着当前的AI和数字化浪潮，FAS部门将对集团的增长前景处于有利地位。
智能控制解决方案系统：
该部门在本季度录得80万令吉的税前亏损，而去年同期则为30万令吉的税前亏损。该部门在截至2019年12月31日的财政年度录得除税前亏损160万令吉，而在截至2018年12月31日的财政年度则录得除税前利润60万令吉。
QoQ:
截至2019年12月31日的第四季度，腾达科技的收入为1亿2600万令吉，比上一季度的1亿2460万令吉增加了1.1％。本季度中录得的较高收入是由于FAS运营部门的销售额增加。
集团在本季录得3,820万令吉的税前利润，比上一季的3,320万令吉的税前利润增加15.1％，主要是由于毛利率增加，和行政费用减少的原因是本季度总人事费用降低。
自动化测试设备：
该部门的除税前利润为3,970万令吉，而上一季度为2,950万令吉，主要是由于本季度产品组合的改善。
工厂自动化解决方案：
该部门在本季度的收入比上一季度的1,700万令吉高出1,110万令吉。这主要是由于集团专有的i-ARMS解决方案及其集成制造解决方案和模块的交付量增加，这些解决方案和模块能够满足各个行业的广泛客户的需求。收入的增长也来自新收购子公司TP的收入。本季度该部门的税前利润较低，为340万令吉，这主要是由于产品组合的变化。
智能控制解决方案系统：
该部门的收入与上一季度相比增加了40万令吉。尽管本季度录得更高的收入，但由于经营成本增加，该部门录得80万令吉的税前亏损，而上一季度则录得30万令吉的税前亏损。
前景：
从目前的趋势和发展以及订单的可见性来看，腾达科技总体上对2020年的业务发展持乐观态度。鉴于自2019年以来困扰世界经济的当前宏观形势，该集团认为技术趋势和发展将继续。信息和通信技术（“ ICT”）产品在我们日常生活中的广泛使用导致了如今通常被称为第四次工业革命的发生。从互联网和智能手机到区块链技术和人工智能，整个社会似乎都准备就绪并渴望拥抱ICT领域的最新创新。 3D，AI，工业4.0，物联网（IoT），自动驾驶汽车，电动汽车（“ EV”）和5G等的应用已成为最受关注的主题。
进入新的十年，传统的一切照旧将通过“智能一切”进行全面改革，这将导致更多的人连接，更多的全球数据知识进行同步和分析，以及更多的机器人和自动化来挑战社会，政治，和经济格局。据报道，世界各地的城市已经开始采用3D人脸识别作为识别过程，并且由于排放法规的严格，预计电动汽车的销售将加速，将占汽车总销量的57.0％。同时，到2030年，全球8亿劳动力将被机器人自动化所取代。面对这样的情况，腾达科技相信，随着他们迈向下一个十年，不断探索，发展和挑战自己，会成为技术供应链中的关键角色。腾达科技将继续寻求潜在机会，以提升腾达科技的价值，并沿着技术价值链向上发展，以进一步巩固和增加其市场份额，并推动腾达科技进入下一增长阶段。
从当前的产品和解决方案产品来看，该集团将继续看到巨大的市场机遇，以加深其在光电领域的涉足，以适应智能传感器在更广泛的产品范围和市场中的广泛采用。从测试处理到组装，从智能手机到外围设备，从生物安全到游戏设备，从运动检测到augmented reality，从电信到汽车以及工业产品，腾达科技已在这些技术进步中占有一席之地，并将继续获得更大的吸引力。
同时，随着越来越多的公司将机器人自动化作为其制造过程的一部分，集团在FAS领域也看到了巨大的潜力和发展。凭借精度，效率，生产力，大数据和数字化，再加上中间供应链中断（例如贸易转移），腾达科技将继续利用其强大的往绩和能力来扩大市场份额并抓住不同行业领域的机会。据波士顿咨询集团（Boston Consulting Group）报道，到2025年，机器人自动化任务所占的份额预计将从目前的10％增长到目前的25％，在亚太地区，这种份额的增长机会将更加深刻。
鉴于当前正在改变制造业供应链的工业4.0的盛行，腾达科技目睹了自动化和数字化的巨大发展，其应用范围可以扩展到覆盖物流和存储领域。在此背景下，集团发起了另一项专有解决方案，即i-Hub，以创建一个更智能，更具成本效益的仓储和物流环境。
未来的仓库和配送系统将充满智能和互联的机器，而人工干预很少。集团相信其i-Hub的需求将是正面的，因为它是基于模块化概念的全自动产品，可节省空间，更好的可追溯性，提高速度和成本效益。
腾达科技一直密切监控冠状病毒（COVID-19）的发展，但其业务战略始终坚定不移，并致力于经济，环境和社会（EES）措施，以确保腾达科技业务的长期可持续性。腾达科技将继续加强其EES努力，并发挥良好企业公民的重要作用。
展望未来，在全球经济面临各种风险的情况下，腾达科技坚信以其核心价值观和员工的重要性为指导的坚实业务基础将使其迈入下一个增长阶段。除非出现任何严峻的外部市场环境和宏观经济因素，否则这公司将在未来几年继续保持积极增长，而腾达科技将继续在创造价值和回报股东方面发挥建设性作用。认识到唯一不变的就是“变化”，腾达科技将有机发展，并通过协同发展的收购或合作来抓住机遇。
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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 RM1.88 (dividend RM0.04) in 1 year 7 months 20 days, total return is 168.5%
b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.43 (dividend RM0.04) in 1 year 9 months, total return is 84.9%
c) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM2.82 (adjusted)(dividend RM0.055) in 9 months 30 days, total return is 72.2%
d) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.79 in 1 year 2 months 12 days, total return is 37.4%
e) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM1.90 (dividend RM0.148) in 1 Year 5 months 25 days, total return is 28.8%
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。
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7月19日星期日：AG Hotel Penang, George Town 2份点心
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James Ng
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[PENTAMASTER CORP BHD: the Group has initiated another proprietary solution namely i-Hub to create an environment of a smarter and cost effective warehousing and logistic]
The Group recorded higher revenue at RM126.0 million in the current quarter as compared to RM112.2 million registered in the corresponding quarter last year, representing an increase of 12.3%. The higher revenue recorded was mainly due to increase in sales from the automated test equipment (“ATE”) operating segment.
The Group recorded a higher revenue at RM490.1 million for the twelve months ended 31 December 2019 as compared to RM422.2 million recorded in the previous corresponding year, representing an increase of 16.1% mainly due to increase in sales from the automated test equipment (“ATE”) operating segment.
Due to higher revenue achieved during the three months ended 31 December 2019, the Group consequently recorded a higher profit before taxation of RM38.2 million in the current quarter as compared to the profit before taxation of RM30.4 million in the previous corresponding quarter, representing an increase of 25.4%.
The Group recorded a profit before taxation of RM138.9 million for the year ended 31 December 2019, an increase of 31.5% as compared to the adjusted profit before taxation of RM105.6 million for the financial year ended 31 December 2018, after excluding the one-off listing expenses incurred in 2018. The increase in the profit before taxation for the financial year ended 31 December 2019 was mainly due to improvement in the Group's operating efficiency as evidenced by the increase in the gross profit margin from 32.6% in the financial year ended 31 December 2018 to 36.6% in the financial year ended 31 December 2019.
Automated test equipment:
This segment recorded an increase in revenue by RM29.6 million or 36.9% to RM109.8 million in the current quarter as compared to the previous corresponding quarter last year, and an increase in revenue by RM82.5 million or 23.7% to RM431.2 million for the financial year ended 31 December 2019 as compared to the previous financial year ended 31 December 2018. The growth in revenue under the ATE segment for the financial year ended 31 December 2019 was mainly attributable to continuous growth in the demand for smart sensors coupled with its evolving complexity and wider adoption rate across the telecommunications and automotive segments, leading to a demand-driven growth for the Group’s smart device test handlers and solutions. Within the telecommunications sector, the Group witnessed delivery of a more diverse and complex portfolio covering, among others, test equipment as well as active alignment assembling equipment for 3D sensor modules encompassing lens, collimator and diffuser optics. These new ATE products and solutions further supplemented the continuous demand for the Group’s flagship test solution in ambient and proximity sensors which are customised for the smartphones and its peripheral items.
While the telecommunications industry is still dominant within the ATE segment in terms of its revenue contribution, the Group has continuously endeavored to diversify its revenue base to other segments, in particular, the automotive segment. During the year, the Group’s exposure to the automotive segment had generated commendable contribution through the delivery of its test handling equipment mainly for MLCC (multilayer ceramic capacitors), IGBT (insulated-gate bipolar transistor), automotive power management and power devices. Moving forward, the momentum of the Group’s exposure in the automotive industry is expected to grow based on the number of orders the Group secured from new global automotive component companies.
Taking into account the current trend where new generation devices typically have a higher turnover rate and shorter time-to-market, the demand for the Group’s smart sensor test equipment and solutions remain robust in the coming year, notwithstanding the Group’s increasing exposure to the consumer and industrial product segment that is showing positive momentum.
As a result of higher revenue achieved and changes in sales mix, this segment recorded higher profit before taxation by RM14.1 million or 55.1% in the current quarter under review as compared to profit before taxation of RM25.6 million in the corresponding quarter last year. For the financial year ended 31 December 2019, The Group recorded higher profit before taxation by RM39.3 million or 41.2% as compared to the financial year ended 31 December 2018 due to improvement in the Group's operating efficiency.
Factory automation solutions:
The Group recorded lower profit before taxation by RM4.5 million in the current quarter under review as compared to profit before taxation of RM4.9 million in the previous corresponding quarter was mainly due to higher staff costs. For the financial year ended 31 December 2019, the Group recoded profit before taxation of RM8.8 million as compared to profit before taxation of RM9.0 million for the financial year ended 31 December 2018, representing a decrease of RM0.2 million or 2.2% due to the timing differences of project delivery that fell beyond 2019.
Nevertheless, the Group is positive in the FAS segment given the prevalence of Industry 4.0 and its advancement into the boundaries of artificial intelligence (“AI”). Furthermore, with the profound shortage of skilled workers, rise in labour costs and requirement for higher precision in manufacturing, the Group is witnessing strong opportunities in various manufacturing stages covering production, procurement, storage and logistics with the aim to reduce the time-to-market interval. Against this backdrop, the Group is leveraging on its proprietary intelligent Automated Robotic Manufacturing System (“i-ARMS”) solutions in customizing integrated automation solutions through its intelligent material handling system and sophisticated manufacturing execution system (“MES”). Within the year, the FAS segment has secured new customer in the Greater China region for its i-ARMS solutions for delivery in the coming financial year. Post-acquisition of TP, a company that is involved in the manufacturing and assembling of medical machines and manufacturing of die casting parts, the FAS segment is expected to witness further growth and contribution from the medical segment. The acquisition presents a growing business segment that complements the Group’s growth catalyst with positive synergy in value adding to the Group’s current products and solutions.
The Group’s establishment of the production plant in Batu Kawan, Penang took place at an opportune time to support the above opportunities of the FAS segment. The Group strongly believes on the growing needs for automation and with the current wave of AI and digitalisation, the FAS segment will be well positioned for the Group’s growth prospects.
Smart control solution system:
This segment recorded a loss before taxation of RM0.8 million in the current quarter as compared to loss before taxation of RM0.3 million in the corresponding quarter last year. This segment recorded loss before taxation of RM1.6 million for the financial year ended 31 December 2019 as compared to profit before taxation of RM0.6 million for the financial year ended 31 December 2018.
QoQ:
For the fourth quarter ended 31 December 2019, the Group recorded higher revenue at RM126.0 million as compared to the revenue of RM124.6 million in the preceding quarter, representing an increase of 1.1%. The higher revenue recorded in the current quarter under review was due to increase in sales from the FAS operating segment.
The Group recorded a higher profit before taxation of RM38.2 million in the current quarter as compared to the profit before taxation of RM33.2 million in the preceding quarter, representing an increase of 15.1% mainly due an increase in the gross profit margin and decrease in the administrative expenses from the lower overall staff costs incurred in the current quarter under review.
Automated test equipment:
This segment achieved a higher profit before taxation of RM39.7 million as compared to RM29.5 million in preceding quarter was mainly due to better product mix during the quarter.
Factory automation solutions:
Revenue from this segment in the current quarter was RM11.1 million higher against revenue of RM17.0 million in the preceding quarter. This was mainly due to higher delivery of the Group’s proprietary i-ARMS solutions as well as its integrated manufacturing solutions and modules that caters for a wide spectrum of customers in various industries. The increase in revenue was also contributed from revenue in the newly acquired subsidiary, TP. This segment recorded lower profit before taxation of RM3.4million in the current quarter was mainly due to changes in product mix.
Smart control solution system:
Revenue from this segment increased by RM0.4 million as compared to the preceding quarter. Despite recording higher revenue in the current quarter, this segment recorded a loss before taxation of RM0.8 million compare to loss before taxation of RM0.3 million recorded in the preceding quarter due to higher operating costs.
Prospects:
The Group generally possess an optimistic view of its business momentum in 2020 judging from the current trend and development coupled with its secured orders visibility. In light of the current macro situation that has gripped world economies since 2019, the Group believes technology trends and evolution will continue. The pervasive use of the Information and Communication Technology (“ICT”) products in our daily life has led to what is now often referred to as the 4th Industrial Revolution. From internet and smartphones to blockchain technology and the AI, the whole of society seems ready and eager to embrace the latest innovations in the ICT realm. Applications such as 3D, AI, Industry 4.0, IoT (Internet of Things), autonomous cars, electric vehicle (“EV”) and 5G have become the topics that gather most attention.
Coming into the new decade, the traditional business-as-usual will be overhauled with “Smart Everything” that will result in more people being connected, more global data knowledge to be synchronised and analysed and more robots and automation to challenge the social, political and economic landscape. It has been reported that cities across the world has started adopting 3D facial recognition as the identification process and that sales of EVs are expected to accelerate to account for 57.0% of total car sales mainly due to the tightening of emissions regulations. Meanwhile by 2030, 800 million global workforce will be replaced by robotic automation. With such onset staring at them, the Group believes in continuously exploring, developing and challenging itself to be a key player in the technology supply chain as we head towards the next decade. The Group will continue to seek potential opportunities that will enhance the Group’s value and move itself upwards along the technology value chain that could further solidify and increase its market share and propel the Group to the next growth phase.
From its current product and solution offerings, the Group continue to see huge market opportunities for it to deepen its involvement in the optoelectronics field, catering for a wider adoption of smart sensors in a broader product range and segments. From test handling to assembling, from smartphones to peripherals, from biosecurity to gaming devices, from motion detection to augmented reality, from telecommunications to automotive and to industrial products, the Group has gained exposure into these technology advancements and will continue to gain deeper traction.
Concurrently, the Group is also witnessing significant potential and development in its FAS segment with more and more companies adopting robotic automation as part of its manufacturing process. With precision, efficiency, productivity, big data and digitalisation, coupled with intermediate supply chain disruption such as trade diversion, the Group will continue to leverage on its strong track record and capabilities in furthering its market share and capturing opportunities across different industry segments. It has been reported by Boston Consulting Group that robotic automation share of tasks is expected to grow from the current average rate of 10% to 25% by 2025 in the United States and such share growth opportunity will be more profound in the Asia Pacific region.
Given the prevalence of Industry 4.0 that is currently transforming the manufacturing supply chain, the Group is witnessing huge development in automation and digitalisation that can be stretched in terms of its application to cover the area of logistic and storage. In this context, the Group has initiated another proprietary solution namely i-Hub to create an environment of a smarter and cost effective warehousing and logistic.
The warehouse and distribution system of the future will be full of smart and interconnected machines with minimal human intervention. The Group believes the demand for its i-Hub will be positive as it is a fully automated product based on modularity concept that allows for space saving, better traceability, speed enhancement and cost efficiency.
While the Group is closely monitoring the coronavirus (COVID-19) developments closely, it remains steadfast in its business strategies and is committed in its Economic, Environment and Social (“EES”) measures to ensure a long term sustainability of the Group’s businesses. The Group will continue to strengthen its EES effort and play its vital role as a good corporate citizen.
Going forward, with the global economy facing a confluence of risks, the Group believes strongly in a solid foundation of its business guided by its core values and the importance of its employees that will bring it to the next growth phase. Barring any acute external market conditions and macroeconomic factors, the Company will continue to grow positively in the coming years and the Group will remain constructive in creating value and returns to its shareholders. Acknowledging the only thing that is constant is “Change”, the Group will develop organically as well as embarking on opportunities via acquisitions or collaborations that are synergistic to the Group going forward.
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