TOPGLOV 7113 QUARTERLY REPORT 30 NOV 2018
Quarterly Report Review:
收入与去年同期相比增加34.5%主要是销量增长。
该集团加强内部的营运能力和新建的工厂提高使用率促使提升效率和盈利能力但在融资方面的利息成本高导致税前盈利没有增加许多。
该集团位于马来西亚的第32号工厂的第一阶段预计将会在2019年初第一季度完成，第二阶段预计将会在2019年第三季度完成；第33号工厂，第5A号工厂和第40号工厂的第一阶段预计将会在2019年第四季度完成；第40号工厂的第二阶段预计将会在2020年第一季度完成。
该集团位于泰国的第8A号工厂的第一阶段预计将会在2020年第二季度完成。
该集团位于越南的第42号工厂的第一阶段预计将会在2020年第三季度完成。
这些工厂完成是预计生产线会增加148条，年产量148亿只手套。
该集团预计在2020年底的总生产线大约796条，年产量753亿只手套。
该集团的工程，研发部门等利用最新科技和自动化来加强手套生产工艺并确保成本效益和产品质量获得提升。
该集团在12月11号获得The Edge’s Billion Ringgit Club 的认可获得3 年以上最高股本回报奖，3年以上最高利润增长和3年以上最高股东回报率奖项。
该集团对Low Chin Guan, Wong Chin Toh and ACPL的禁令案件会在2019年1月31号进行。
该集团与Adventa Capital在新加坡案件的听证会日期已经确定，而且申请撤销的时间是2019年5月14日至16日。
Reference Price:
17.12.2018
Price: RM 5.74
Rolling EPS: RM 0.3030
PE: 18.94
NTA: RM 0.97
Price/NTA: 5.92
PE*Price/NTA: 112.08
Undervalued: RM 1.93
Fair Value: RM 2.57
Overvalued: RM 3.86
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34.5%主要是销量增长。
该集团加强内部的营运能力和新建的工厂提高使用率促使提升效率和盈利能力但在融资方面的利息成本高导致税前盈利没有增加许多。
该集团位于马来西亚的第32号工厂的第一阶段预计将会在2019年初第一季度完成，第二阶段预计将会在2019年第三季度完成；第33号工厂，第5A号工厂和第40号工厂的第一阶段预计将会在2019年第四季度完成；第40号工厂的第二阶段预计将会在2020年第一季度完成。
该集团位于泰国的第8A号工厂的第一阶段预计将会在2020年第二季度完成。
该集团位于越南的第42号工厂的第一阶段预计将会在2020年第三季度完成。
这些工厂完成是预计生产线会增加148条，年产量148亿只手套。
该集团预计在2020年底的总生产线大约796条，年产量753亿只手套。
该集团的工程，研发部门等利用最新科技和自动化来加强手套生产工艺并确保成本效益和产品质量获得提升。
该集团在12月11号获得The Edge’s Billion Ringgit Club 的认可获得3 年以上最高股本回报奖，3年以上最高利润增长和3年以上最高股东回报率奖项。
该集团对Low Chin Guan, Wong Chin Toh and ACPL的禁令案件会在2019年1月31号进行。
该集团与Adventa Capital在新加坡案件的听证会日期已经确定，而且申请撤销的时间是2019年5月14日至16日。
Reference Price:
17.12.2018
Price: RM 5.74
Rolling EPS: RM 0.3030
PE: 18.94
NTA: RM 0.97
Price/NTA: 5.92
PE*Price/NTA: 112.08
Undervalued: RM 1.93
Fair Value: RM 2.57
Overvalued: RM 3.86
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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