TOPGLOV 7113 QUARTERLY REPORT 28 FEB 2019
Quarterly Report Review:
收入与去年同期相比增加21%主要是手套销售增加和更高的平均销售价格。
但净利减少3%主要是公司缴的税增加。
该集团位于马来西亚的第32号工厂的第一阶段和第33号工厂预计将会在2019年初第二季度完成，第32号工厂的第二阶段预计将会在2019年第三季度完成；第2B号工厂翻新和第5A号工厂和第40号新工厂的第一阶段预计将会在2019年第四季度完成；第40号新工厂的第二阶段预计将会在2020年第一季度完成；第42号新工厂预计将会在2020年第四季度完成。
该集团位于泰国的第8A号工厂的第一阶段预计将会在2020年第三季度完成。
该集团位于越南的第41号工厂的第一阶段预计将会在2020年第二季度完成。
这些工厂完成是预计生产线会增加200条，年产量204亿只手套。
在2019年3月1号，该集团成功发行可换股债券总值2亿美元。
该集团发行可换股债券主要是要退还现有借款，促使公司的降低利息成本，以及改善现金流。
该集团预计发行可换股债券可获得一千六百万令吉的现金储蓄和两百万的利息成本。
Reference Price:
22.03.2019
Price: RM 4.43
Rolling EPS: RM 0.1710
PE: 25.91
NTA: RM 0.98
Price/NTA: 4.52
PE*Price/NTA: 117.12
Undervalued: RM 1.46
Fair Value: RM 1.94
Overvalued: RM 2.91
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21%主要是手套销售增加和更高的平均销售价格。
但净利减少3%主要是公司缴的税增加。
该集团位于马来西亚的第32号工厂的第一阶段和第33号工厂预计将会在2019年初第二季度完成，第32号工厂的第二阶段预计将会在2019年第三季度完成；第2B号工厂翻新和第5A号工厂和第40号新工厂的第一阶段预计将会在2019年第四季度完成；第40号新工厂的第二阶段预计将会在2020年第一季度完成；第42号新工厂预计将会在2020年第四季度完成。
该集团位于泰国的第8A号工厂的第一阶段预计将会在2020年第三季度完成。
该集团位于越南的第41号工厂的第一阶段预计将会在2020年第二季度完成。
这些工厂完成是预计生产线会增加200条，年产量204亿只手套。
在2019年3月1号，该集团成功发行可换股债券总值2亿美元。
该集团发行可换股债券主要是要退还现有借款，促使公司的降低利息成本，以及改善现金流。
该集团预计发行可换股债券可获得一千六百万令吉的现金储蓄和两百万的利息成本。
Reference Price:
22.03.2019
Price: RM 4.43
Rolling EPS: RM 0.1710
PE: 25.91
NTA: RM 0.98
Price/NTA: 4.52
PE*Price/NTA: 117.12
Undervalued: RM 1.46
Fair Value: RM 1.94
Overvalued: RM 2.91
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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