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ting pang eng
6 Like · Reply
Kossan Rubber Industries 23Q4 result (Affin Hwang’s take)

• 23Q4 earnings of RM36 mln (-12% QoQ; 22Q: -RM2.5 mln) brought FY23 earnings to RM49.6 mln (-68% YoY). The results were within AH but below consensus’ full-year expectations. While the company has not disclosed its operational statistics for 23Q4, AH believes it may have registered lower average selling prices (“ASP”), in lin with its peer Hartalega that saw a single digit percentage drop though it was offset by an improved sales volume
• Despite the slight blip in earnings momentum in 23Q4, AH expects the upcoming quarters to register improved earnings from stronger sales volumes. Furthermore, more industry players AH checked with expect stronger sales volume of 15% - 20% in the months of January – February 2024 coupled with ASPs having been revised up from December 2023. AH remains positive on Kossan Rubber Industries given its (i) successful cost rationalization efforts; (ii) exposure to non-glove divisions that have been resilient; (iii) net cash balance of RM2 bln (against market capitalization of RM5.2 bln) that also provies a hefty amount of interest income; (iv) potential dividend declarations once demand conditions improve
• AH maintains Buy on Kossan Rubber Industries with higher TP of RM2.40 (from RM2.00) as AH expects sales volume to improve further in 24Q1 although 23Q4 earning was below expectation
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Kevin Tam
1.75-1.80 is good entry price n now may head north ..
Like · 7 hours · translate
Ben RS
missed the bus....
Like · 4 hours · translate
Fortune Y
3 Like · Reply
kossan棒棒哒。。加油!
Y.T
什么磅?说出来一下!
Like · 1 month · translate
ting pang eng
行家建议:

在剔除未实现外汇和工厂的减值损失后,高产柅品工业2023财年核心净利5680万令吉,超出我们与市场的全年预期,这主要是持续的成本控制导致营运成本低于预期。

我们了解,工厂和设备的一次性减值损失和注销金额达3980万令吉。

这之后,公司年产能减少50亿,至250亿只,厂房利用率也应提高到45至50%。

另外,公司旗下技术橡胶产品(TRP)的较高赚幅,带来了盈利大幅跃升。

还有,手套平均售价将因激烈竞争而继续面临压力,因此我们认为,有效的成本管理至关重要。

我们继续看好高产柅品工业的多元化收入模式,即手套和技术橡胶产品业务,以及强劲的资产负债表,仍持有21亿令吉净现金。

我们将2024和2025财年盈利预测,分别下调了5%和8%。

同时,稍稍下修目标价至2.08令吉,并考虑到其上行潜力有限,将评级降至“守住”。
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Like · 1 month · translate
datoudatou
Like · Reply
你真是最没领用。。。。。
keke
3 Like · Reply
epf在賣了85,525股後,轉手又買了2,784,900股
Kevin Lee
2 Like · Reply
天天跌跌不休~完蛋了~我容易吗我?
ting pang eng
8 Like · Reply
Still profit after impairment of PPE 35mil. Declared 2 sen dividend. Ok lah
chunye low
35 mil for closing factory?????
Like · 1 month · translate
Ken Choong
4 Like · Reply
still manage to maintain profit yoy. kudos to kossan management team
Lala Chong
Congrats.. buckle up and reload bullets
2 Like · 1 month · translate
谢双全(James Cheah)
2 Like · Reply
still declare dividend..means company predict better business for this year?
Ka Keat
They can continue to pay dividend even next few years no business . super cash rich company.
1 Like · 1 month · translate
jason kuek
2 Like · Reply
马来西亚的手套公司未来路难走,减产也不夠中国来降价,中国增加产量利薄多销加上中国政府有补贴,马来西亚以没有降价空间,最后还是要减产改行种榴莲养母鸡好赚
jason kuek
电动车,手套,中国现在都是老大,特斯拉也是给打到降价都没有用反而要投降减产
1 Like · 1 month · translate
Orange Ong
不可能做亏本生意,如果长期做亏本生意,本金也被消耗完了。一定会回来的,给点时间
1 Like · 1 month · translate
Kim Hock Goh
1 Like · Reply
preceding quarter was RM40.97 mil. Sell.
Ka Keat
Without the impairment, they are actually making profit. With the cost control and impairment done, they will be even more competitive.
5 Like · 1 month · translate
周漍鉷
Impairment 35m and write off 4.4m
2 Like · 1 month · translate