TOPGLOV 7113 QUARTERLY REPORT 31 AUG 2018
Quarterly Report Review:
收入与去年同期相比增加34.9%是因为需求增长，内部营运获得改善，采用先进技术促使人力减少和提升生产效率。
该集团的第32号工厂的第一阶段预计将会在2019年初完成，第二阶段预计将会在2019年底完成；第33号工厂预计将会在2019年初完成和第5A号工厂预计将会在2019年底完成。
该集团将建设新工厂；第8A号并预计将在2020年初开始营运。
该集团认为新工厂营运后将会把生产线增加98条，年产量增加98亿只手套。
该集团会把业务扩展到越南并签订协议购买一块拥有工厂的土地，并预计那家工厂将会在未来2年内开始营运。
该集团已通过股东同意颁发1送1红股回馈给股东。
董事会建议颁发未期股息10仙回馈给股东但须等到2019年1月的股东大会批准。
Reference Price:
11.10.2018
Price: RM 10.70
Rolling EPS: RM 0.3440
PE: 31.10
NTA: RM 1.89
Price/NTA: 5.66
PE*Price/NTA: 176.07
Undervalued: RM 2.87
Fair Value: RM 3.82
Overvalued: RM 5.73
Disclaimer:
The information contained in this research is based on data obtained from sources believed to be reliable. However, the data and/or sources have not been independently verified and as such, no representation, express or implied, is made as to the accuracy, adequacy, completeness or reliability of the info or opinions in the research.
Accordingly, neither 以牛攻熊 nor any of its related companies and associates nor person connected to it accept any liability whatsoever for any direct, indirect or consequential losses (including loss of profits) or damages that may arise from the use or reliance on the info or opinions in this publication. Any information, opinions or recommendations contained herein are subject to change at any time without prior notice. 以牛攻熊 has no obligation to update its opinion or the information in this research.
Investors are advised to make their own independent evaluation of the info contained in this research and seek independent financial, legal or other advice regarding the appropriateness of investing in any securities or the investment strategies discussed or recommended in this research. Nothing in this research constitutes investment, legal, accounting or tax advice or a representation that any investment or strategy is suitable or appropriate to your individual circumstances or otherwise represent a personal recommendation to you.
This research is being supplied to you on a strictly confidential basis solely for your information and is made strictly on the basis that it will remain confidential. All materials presented in this research, unless specifically indicated otherwise, is under copyright to 以牛攻熊. This research and its contents may not be reproduced, stored in a retrieval system, redistributed, transmitted or passed on, directly or indirectly, to any person or published in whole or in part, or altered in any way, for any purpose.
This research may provide the addresses of, or contain hyperlinks to, websites. 以牛攻熊 takes no responsibility for the content contained therein. Such addresses or hyperlinks (including addresses or hyperlinks to 以牛攻熊 own site material) are provided solely for your convenience. The information and the content of the linked site do not in any way form part of this research. Accessing such website or following such link through the research or 以牛攻熊 site shall be at your own risk.
收入与去年同期相比增加34.9%是因为需求增长，内部营运获得改善，采用先进技术促使人力减少和提升生产效率。
该集团的第32号工厂的第一阶段预计将会在2019年初完成，第二阶段预计将会在2019年底完成；第33号工厂预计将会在2019年初完成和第5A号工厂预计将会在2019年底完成。
该集团将建设新工厂；第8A号并预计将在2020年初开始营运。
该集团认为新工厂营运后将会把生产线增加98条，年产量增加98亿只手套。
该集团会把业务扩展到越南并签订协议购买一块拥有工厂的土地，并预计那家工厂将会在未来2年内开始营运。
该集团已通过股东同意颁发1送1红股回馈给股东。
董事会建议颁发未期股息10仙回馈给股东但须等到2019年1月的股东大会批准。
Reference Price:
11.10.2018
Price: RM 10.70
Rolling EPS: RM 0.3440
PE: 31.10
NTA: RM 1.89
Price/NTA: 5.66
PE*Price/NTA: 176.07
Undervalued: RM 2.87
Fair Value: RM 3.82
Overvalued: RM 5.73
Disclaimer:
The information contained in this research is based on data obtained from sources believed to be reliable. However, the data and/or sources have not been independently verified and as such, no representation, express or implied, is made as to the accuracy, adequacy, completeness or reliability of the info or opinions in the research.
Accordingly, neither 以牛攻熊 nor any of its related companies and associates nor person connected to it accept any liability whatsoever for any direct, indirect or consequential losses (including loss of profits) or damages that may arise from the use or reliance on the info or opinions in this publication. Any information, opinions or recommendations contained herein are subject to change at any time without prior notice. 以牛攻熊 has no obligation to update its opinion or the information in this research.
Investors are advised to make their own independent evaluation of the info contained in this research and seek independent financial, legal or other advice regarding the appropriateness of investing in any securities or the investment strategies discussed or recommended in this research. Nothing in this research constitutes investment, legal, accounting or tax advice or a representation that any investment or strategy is suitable or appropriate to your individual circumstances or otherwise represent a personal recommendation to you.
This research is being supplied to you on a strictly confidential basis solely for your information and is made strictly on the basis that it will remain confidential. All materials presented in this research, unless specifically indicated otherwise, is under copyright to 以牛攻熊. This research and its contents may not be reproduced, stored in a retrieval system, redistributed, transmitted or passed on, directly or indirectly, to any person or published in whole or in part, or altered in any way, for any purpose.
This research may provide the addresses of, or contain hyperlinks to, websites. 以牛攻熊 takes no responsibility for the content contained therein. Such addresses or hyperlinks (including addresses or hyperlinks to 以牛攻熊 own site material) are provided solely for your convenience. The information and the content of the linked site do not in any way form part of this research. Accessing such website or following such link through the research or 以牛攻熊 site shall be at your own risk.
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