HARTALEGA最新年报和季度业绩

HARTALEGA在前几天陆陆续续地释出了年度财政报告和最新的季度业绩，
根据顺序，
就先来看年度财政报告好了。

首先是手套的销量：

图表说明了每年的销量都在增加。

然后是营业额:

也是逐年增加。

最后也看看盈利：

几乎都是往上爬的趋势。

年报里有提到说世界对手套的需求仍然上升当中，
特别是新兴市场：

马来西亚仍然是全世界最大的手套制造和出口国，
目前占据了全球供应的60%以上。

美国仍然是马来西亚手套出口的最大客户，
占了出口价值的47%，
然后是占了28%的欧洲国家。

公司仍然认为对手套的国际需求每年会8%成长。

公司所面对的挑战：
1) 其他同业业者的竞争。
2) 原料成本上涨。
3) 高人工支出和电力费用。
4) 不稳定的市场如兑换率的波动和美中的贸易战。

公司看来对AMG很有信心，
认为是一个足以扰乱市场的产品。

然后可以生物分解的手套也终于获得FDA的认证。

以上就是我认为年报中所提到的一些重点，
要是你觉得不够详细或重点不对的话，
欢迎你到BURSA网站下载一份来细读。

接下来来看看最新的季度业绩：

唉.....
虽然想积极看待，
但我还是忍不住哀叹一声....

营业额的下跌主要是手套销量的下滑：

高包装费用、电能热能支出和人工费用都侵蚀了盈利。

对未来的展望：

公司仍会继续NGC的扩产计划，
Plant 6 已经开始施工。

目前手套业的产量成长超越了需求增长：

但公司预计下半年就会缓和下来。

最后也有提到会加重投资于AI科技，
以减少依赖人手操作和提高效率。

以上就是本次季度报告的重点，
要是你觉得不够详细或重点不对的话，
欢迎你到BURSA网站下载一份来细读。

投资就是自己思考，自己做决定。

感谢阅读。

以上言论没有任何买卖建议，
大家买卖自负。

最近文章：
何谓财务教育(2): 精明地选择导师
何谓财务教育(1)：态度
TOPGLOV 最新季度业绩
AEONCR股东大会2019+最新季度业绩
我的2019年上半年投资成绩



其他链接：
我的投资成绩
关于本人
我的脸书专页
2019年文章目录

2018年文章目录
2017年文章目录

HARTALEGA latest annual report & quarter financial report

Few days ago,
HARTALEGA released both the annual report and then the latest quarter financial report.

Let's first have a look at the annual report:

The sales volume increased every year.

Next,
the revenue:

Also increased year by year.

Lastly,
the profit:

The profit grew for almost every year.

In the annual report,
it was mentioned that the global demand for gloves still rising,
especially in emerging markets:

Malaysia still remained as the world's largest producer and exporter of gloves,
contributing to more than 60% of global supply.

US still the primary importer by comprising 47% of Malaysia's gloves total export value,
followed by European Union which is 28%.

The company mentioned that the global demand for gloves is expected to expand at 8% per annum.

Challenges facing by the company:
1) intensified competition from other glove players.
2) rising price of raw materials.
3) higher labour and electricity cost.
4) uncertainty market causing fluctuations in foregin exchange and potential impact of US-China trade war.

It seems like the company has a lot of confidence at AMG,
which has the potential to disrupt the entire global healthcare industry.

Also,
the company finally obtained FDA approval for the biodegradable nitrile gloves.

That's all for the important points from the annual report,
if you think that it is not detailed enough or I missed out some important points,
feel free to go to BURSA website to download the full report and read it.

Next,
let's have a look at the latest quarter financial report:

Aiks.........
Even though we should be positive in lives,
but still........I just..... aiks...........

The lower sales volume caused the revenue to drop:

Higher packaging, electricity, heat and labour cost also eroded the profit.

Prospects:

The company will continue the NGC capacity expansion plan,
which the construction of plant 6 is currently underway.

For now,
the capacity growth is ahead of demand growth in gloves industry:

However the company expects that the supply-demand will be more balanced in second half of 2019.

Lastly,
the company will also intensity investment of technologies,
to reduce dependency on manual labour and to enchance operation effectiveness.

That's all for the important points from the quarter report,
if you think that it is not detailed enough or I missed out some important points,
feel free to go to BURSA website to download the full report and read it.

Investment is about doing own thinking,
making own decision.

Thanks for reading.

I don't provide any buying/selling suggestion above,

please make your own investment decision and be responsible with it.

Recent articles :
What is Financial Education(2): CHOOSE YOUR TEACHERS WISELY
What is Financial Education(1): ATTITUDE
TOPGLOV latest financial result
AEONCR AGM 2019+latest quarter financial result
My investment result for 1st half year 2019

Other links:

My investment result

My self-introduction article

My Facebook Page

List of articles of year 2019

List of articles of year 2018

List of articles of year 2017

HARTALEGA最新季度财政报告

关于HARTALEGA最新出炉的季度财政报告，
由于业绩挺震撼的，
所以一堆人都写了分析文。

如果你已经看了很多的分析文，
那么你不需要花时间再读下去了，
反正季度报告那么薄，
重点就那几个，
我写的肯定重复。

尽管如此，
我还是坚持要写一份属于自己的，
原因嘛..........
方便以后要看回时容易找啊~

话说当时季度报告一出炉后，
我就立刻点击来看，
看到营业额时挺兴奋的：

但越往下看兴奋的感觉就越消失，
甚至失落了起来.............

接下来就赶紧去看管理层有什么解释：

就像一堆分析文里所指出的，
因为令吉兑美元的突然上涨，
导致公司措手不及，
无法及时把成本转嫁给客户。

但最近Average selling price竞争惨不忍睹，
公司又能转嫁多少成本给客户呢？

综合全年来看的话，
营业额增加17.6%，
sales volume增加10.1%。

其实看整年业绩是还好的.......

目前Plant 5的12条生产线已经开跑10条：

AMG方面还在等着FDA的批准：

等啊等..........
不知不觉就又等了一年..............

公司也承认产量增长超过了需求的增长：

公司的3个乐观因素：
1) 持续增长的手套需求
2) NGC的扩展
3) AMG的潜在成长。

最后是人见人爱的股息：

这次每股只有1.9sen.....

公司股票目前的价格是RM5左右，
从最高峰的RM7多到现在的RM5........
究竟是危？还是机呢？

投资就是自己思考，自己做决定。

感谢阅读。

以上言论没有任何买卖建议，
大家买卖自负。

最近文章：
AEONCR最新季度财政报告
我的2015年投资成绩
HUPSENG最新年度财政报告
我的投资理论之一--大便论
TOPGLOV最新季度财政报告



其他链接：
我的2018年投资成绩
关于本人
我的脸书专页
2019年文章目录

2018年文章目录
2017年文章目录

HARTALEGA latest financial report

Since the latest financial result of HARTALEGA was quite shocking,
so a lot of people wrote analysis about it.

THUS,
if you already read a lot of the analysis article about HARTALEGA lately,
then you don't need to waste your time to continue reading this.

Since the quarter report only contained a few main points,
what I will be writing here definitely covered by other people too.

Anyhow,
I still insist to write one myself.

The reason??
It will be easier for me to find it back at the future,
better than being clueless and searching it anywhere.

ANYWAY,
when the financial result was released,
I was very excited to look at the revenue:

But my excitement quickly faded away when I kept reading it.......................

Here is the review by the management:

Just like all the other analysis articles pointed out,
since the sharp strengthening of ringgit happened in a short time,
so the Group was unable to pass the cost increase to the customers.

I just wondering.......................
With the current situation of every glove company lowering down the ASP,
how much cost can HARTALEGA pass to customers??

If looking at the full 12 months,
the revenue grew by 17.6% and the sales volume increased by 10.1%.

Seems good though.................

Currently,
10 out of 12 production lines in Plant 5 has commissioned:

As for AMG,
still waiting for approval from FDA:

Another year has passed while waiting.........................

The management also admitted that the capacity growth is ahead of demand growth:

The 3 main reasons of HARTALEGA remaining optimistic:
1) Growing demand for gloves.
2) NGC expansion
3) Potential growth of AMG.

Lastly,
the lovely dividend:

This time only 1.9sen per share...........

The current shares price is around RM5,
the peak last time was RM7 something..........
For now is it a chance?? Or a trap??

Investment is about doing own thinking, making own decision.

Thanks for reading.

I don't provide any buying/selling suggestion above,
please make your own investment decision and be responsible with it.

Recent articles :
AEONCR latest quarter financial report
My investment return for year 2015
HUPSENG latest annual report
One of my investing theorem--"The SHIT Theorem"
TOPGLOV latest quarter financial report



Other links:
My investment return for year 2018
My self-introduction article

My Facebook Page
List of articles of year 2019

List of articles of year 2018

List of articles of year 2017

HARTALEGA最新季度财政报告

这个部落格停止更新接近2个月之后，
我终于回来了~

目前我的身体还不能算是完全康复，
但比起住院那时候，
已经算是好了很多。

在这里非常感谢大家的关心。

这段期间，
各家公司也陆陆续续地发布了最新的季度财政报告，
所以今天就先来看看Hartalega的好了。

首先呢，
一开始看到营业额增加那么多，
我的心情是非常振奋的：

但越继续往下阅读，
振奋的心情也开始低落下来，
毕竟营业额增加那么多，
但税后盈利方面却只进步了一点点...................

营业额增加方面，
管理层给的原因：
1) Nitrile手套需求增加
2) 更高的销售价格
3) 卖出的手套数量更多

上面提到一点要注意的，
就是nitrile成本提高了，
难怪盈利增长跟不上营业额的成长。

然后：

跟前一季对比的话，
能源和维修成本提高，
以及一些税务上的支出，
导致盈利比前一季还低。

公司对于未来的展望：

简单来说，

公司是认为手套的供需仍处于健康的平衡状态。

在8月开始运作的Plant 5已经开始让12条生产线中的6条开始运行，

Plant 6已经开始建设，

新的Plant 7会专注于一些客户特别设计要求的手套。

AMG手套方面，

还是有超过10个国家客户的订单，

几时才会超过20个呢？

FDA的批准仍在等待中：

不管怎样，
公司似乎很看好AMG手套未来的贡献。

 最后是人见人爱的股息：

依然是每股2.2sen。

最近公司的股价也从高峰跌了很多，
究竟是危还是机呢？

投资就是自己思考，自己做决定。

感谢阅读。

以上言论没有任何买卖建议，
大家买卖自负。

最近文章：
AEONCR最新季度报告
我的2018年投资成绩
我的2014年投资成绩
PANAMY最新季度财政报告
当年我迅速累积身家的3把武器



其他链接：
我的2018年投资成绩
关于本人
我的脸书专页

2018年文章目录
2017年文章目录

HARTALEGA latest quarter financial report

After nearly 2 months of not updating the blog,
finally I'm back~

Now my body condition still not yet 100% recovered,
but don't worry,
I am definitely feeling better than the time when I was admitted into hospital.

Thanks everyone for concerning about me.

While I was resting last month,
most of the companies released their latest financial report,
so today we will have a look at HARTALEGA.


First of all,
I was very happy to see that the revenue increased a lot:

HOWEVER,
the more I read,
my excitement also kept dropping,
especially when the net profit only increased a little comparing with the growth of the revenue.........

The reasons of revenue growth were basically:
1) Stronger demand for nitrile gloves
2) higher average selling price
3) growth in slaes volume

Seems like the increase in nitrile cost was one of the reasons why profit growth was lower than revenue growth.

Also:

Comparing with previous quarter,
the profit dropped slightly because of higher energy and maintenance cost,
plus tax expense.

The prospects:

Basically,
the company think that the demand supply of gloves still in healthy balance.

For Plant 5,
6 of the 12 production lines were started to commission.

Construction of Plant 6 also started while Plant 7 will be catering to small orders of specialty products.

As for the AMG,
until now still over 10 countries ordered it,
when only will be more than 20 countries??

The company still waiting for approval from FDA:

Seems like the company has high expectation on AMG's future.

Lastly,
the lovely dividend:

Still 2.2 sen per share.

Recently the shares price of HARTALEGA dropped a lot,
is it a chance or danger?

Investment is about doing own thinking, making own decision.

Thanks for reading.

I don't provide any buying/selling suggestion above,
please make your own investment decision and be responsible with it.

Recent articles :
AEONCR latest financial report
My investment return for year 2018
My investment return for year 2014
PANAMY latest financial report
The three weapons



Other links:
My investment return for year 2018
My self-introduction article

My Facebook Page

List of articles of year 2018
List of articles of year 2017