25 Jan 2020, 11AM: *QES*
Mgmt: Management: Mr. Chew (CEO)

*2021 Outlook:*
- Top line growth target/expect for 2021: Manufacturing will grow faster than distribution. Manufacturing - 25% (expect RM34-35m); Distribution - 8-10; and Overall - 15-20%
- GP margins: Distribution - 25-25%; Manufacturing - target 35%
- YTD orderbook: RM13m Distribution; RM9m Manufacturing
- Utilisation rate: 80% nearing to maximum, starting to outsource a simple frame
- Current book to bill ratio: Both distribution and manufacturing at 1.1x
- Automotive sector to contribute to your revenue in 2021? Every year contributes 20-25%. Hard to expect because semiconductor will grow substantially.
- China - will set up a subsidiary in China through QES (HK) - target to complete incorporation by 3Q2021 - Inspection machine that QES is selling is semi-automatic machines - selling to front-end - target to sell more to China
- Received keys to the new 5-storey dectached factory in Shah Alam and aims to move in by 3Q2021.
- Looking for a factory expansion in Penang
- What is your sales mix between semi-auto and fully automated machines in 2020? What is your expectation for 2021 sales mix for semi-auto and fully automated ? Target to 60-70% Automatic machines for 2021.

2020 vs 2019:
- overall is better; Still operating at 100%, full SOP compliant