AEONCR 2018年度财政报告+2019年第1季财政报告

今天来看看AEONCR的年度财政报告好了。

过去5年的表现：

每年营业额和盈利都有增长，
是值得留意的公司。

AEONCR的业务：

3大王牌是Personal, Car和Motorcycle financing。

来自管理层的发言：

当中可以看到"Moped" category的摩托车是成长的主要动力之一。

然后公司在car financing方面实行更严格的审核，才会造成此区域的成长不高。

信用卡方面：

几乎都有超过10%的成长。

今年的展望：

主要是分行的转型计划，
让顾客可以在网上申请或自助服务。

今年也会使用新的会计准则，
根据上面的说法，
公司会提早认列信用损失，保留盈利也会减少........

然后公司最近也开始攻打高收入客户市场，
不懂能分得到多少蛋糕呢？

最近AEONCR也发布了第1季的财政报告：

营业额虽然只进步7.8%，
但因为Total operating expenses减少，
双管齐下，
Profit有了长足的进步。

当然，
不能高兴太早，
就像上面所提到的，
使用新的会计准则后，
Retained earnings:

少了几乎三分之一...............

管理层的发言：

NPL已经降到2.26%。
然后Total operating expense与Revenue的比例从58.2%降低到50.6%。

关于今年的发展：

仍然是说根据公司的商业计划，
有信心维持今年的业绩。

以上。

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：
掌控情绪 VS 被情绪掌控
PANAMY 2018年第4季度财政报告
我的2018年上半年投资成绩
AEONCR 2018年股东大会
为了获胜 VS 避免失败 part2



其他链接：
2018年文章目录
2017年文章目录
我的2017年投资成绩
关于本人
我的脸书专页

我的推特：@TheCellist86

AEONCR 2018 Annual Report + 1st quarter 2019 financial report

Today let's have a look at AEONCR 2018 annual report.

First,
the past 5 years performance:

It is definitely a company which worth to be putting attention at,
since the revenue and profit grew every year.

The product segment of AEONCR:

The three key products are Personal, Car and Motorcycle financing.

The operational review by management:

Seems like the financing of "Moped" category of motorcycles was key driver of growth.

The company also tightened credit policies of car financing,
that's why lower growth in this segment.

For the card business:

Not bad,
more than 10% growth.

The prospects for this year:

This year mainly will be the branch transformation,
web application and self-service terminals.

Also,
a new accounting standard will be applicable in this year.
According to what was told above,
it will result in earlier recognition of credit losses on receivables and decrease in opening retained earnings.
Hmmm.............

This made me started to worry about the financial performance of this year.............

Then the company also targeting lower risk profile customers,
how many percentage of market shares will they gain in this year?

Also,
AEONCR just published latest quarter financial report:

Even though the revenue only improved by 7.8%,
but since the Total operating expenses reduced by 6.4%,
so overall the profit growth was good.

Well....
we shouldn't be happy too fast,
just like what mentioned above,
after applying new accounting standard,
the Retained earnings:

Around 1/3 were gone..............

Comments by management:

NPL dropped to 2.26%,
and the ratio of operating expense against revenue dropped from 58.2% to 50.6%.

Prospect for this year:

Still the same messages like based on the scheduled implementation of business plan,
the company expects to maintain its financial performance.

That's all for the latest financial report.

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 :
Investing and emotional control
PANAMY 4th quarter 2018 financial report
My investment return for 1st half of 2018
AEONCR AGM 2018
TO WIN or NOT TO LOSE part2



Other links:
List of articles of year 2018
List of articles of year 2017
My investment return for year 2017
My self-introduction article

My Facebook Page

My Twitter : @TheCellist86

掌控情绪 VS 被情绪掌控

今天又是回顾以前写过的文章。

这篇文是我在2013年于Investalks论坛发表过的旧文，
短短的几段话，转贴过来这里，
并加上一些现在的想法。


旧文开始：

有些人买股票，心就是不能定下来。

买了想要长期持有的股票，
但......
心不定。

放不下心，就退场。
退场了又放不下心，就进场。
进了场又再放不下心，就退场。
退了场又再再放不下心，就进场。
进了场又再再再放不下心，就退场。

进场、退场、进场、退场、进场、退场。

如此反反复复。
赚最多的，
是“里卖蛇”。

问题不在于进场或退场。

而是如何进了场能心安理得。
若有天退了场也能心安理得。

不能被“心安理得”支配，
要能支配“心安理得”。

换句话说，
投资者不能被情绪掌控，
要能掌控情绪。

与大家共勉之。

旧文结束。


看回当年写过的文章，
如今的我还是一样地认同。

所以这些年来，
我在股票投资上一直都是机械化式的操作，
设定计划，然后实行，
尽量让情绪影响最小化。

当然，
这并非是完美的操作，
但至少避免了因为一时情绪不定而冲动地买进卖出。

要掌控自己的投资，
就得先掌控自己的情绪。

如此一来，
才能够做出理性的思考和决定。

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：
PANAMY 2018年第4季度财政报告
我的2018年上半年投资成绩
AEONCR 2018年股东大会
为了获胜 VS 避免失败 part2
COCOLAND 2017年度财政报告



其他链接：
2018年文章目录
2017年文章目录
我的2017年投资成绩
关于本人
我的脸书专页

我的推特：@TheCellist86

Investing and Emotional Control

Today I would like to review one of the article that I written before.

An old article that I wrote at year 2013 and published at Investalks forum,
just a few paragraphs,
but I added some new sentences at the end of the old article.

So.....
old article starts here:


Some people learnt to invest in shares,
but didn't learn how to control their emotion.

They bought a shares and aimed to hold it for long term.
HOWEVER..............
they let their emotion controlled them.

When they worried that the shares price will drop tomorrow,
they sold the shares.

After selling it,
they worried again that the shares price will rise tomorrow,
so they bought it back.

After buying it,
they again worried that the shares price will drop tomorrow,
so they sold it again.

After selling it,
they worried again that the shares price will rise tomorrow,
so they bought it back.

Buying, selling, buying, selling, buying, selling, buying, selling, buying, selling,

They repeated it over and over again,
at the end the one who earned the most money,
is their remisier.

The main problem is not about buying and selling.

The thing is,
how to be stable emotionally after buying or selling a shares.

Don't be controlled by emotion,
instead,
control your emotion.

The end of old article.


Looking back at my old article,
even now I still think the same.

For all these years,
I always invest like a robot,
I set a plan and followed through it,
so that I was able to minimize myself from being influenced by my emotion.

Of course,
this was not the perfect way,
but atleast I prevented myself from making investment decision just because I felt like doing it.

To control our investment,
first we need to control our emotion.

Then,
only we are able to think and to decided rationally.

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 :
PANAMY 4th quarter 2018 financial report
My investment return for 1st half of 2018
AEONCR AGM 2018
TO WIN or NOT TO LOSE part2
COCOLAND annual report 2017



Other links:
List of articles of year 2018
List of articles of year 2017
My investment return for year 2017
My self-introduction article

My Facebook Page

My Twitter : @TheCellist86

PANAMY 2018年第4季度财政报告

今天来写写PANAMY好了。

这是PANAMY最新的季度财政报告：

营业额和税前盈利都有大幅度的进步，
只可惜去年同一季度的税务优惠没有了，
所以税后盈利才会比去年同一季少.....

产品分类方面：

Home Appliance有很大的进步，
Fan products原本落后去年很多，
但在公司大力促销后，
至少销量提升到只少于去年一点点。

区域分布方面：

中东销量的回温肯定是今年营业额成长的主要动力。

管理层的解释：

总之就是马来西亚和越南的冷天气持续比较久，
所以Home shower产品卖得不错。

Ceiling fans的销量恢复，
都得归功于中东区域。

关于未来的展望：

根据上面所说，
可以看到中东市场的经济开始恢复。

公司也会继续专注于降低成本，以维持竞争性。

最后当然不得不提一下股息：

除了133 sen的final dividend，
还有100 sen的特别股息呢！

对股东们来说真是一大惊喜~

只可惜这特别多派的股息并没有给股价带来任何激励，
看来很多人都吸取了以前的教训，
不能因为PANAMY偶尔一次的派高息而盲目追高~

以目前的股价来看，
如果买进了收到总值RM2.33的股息，
那么其实是以现在的股价减掉RM2.33的价钱来购买。

值不值得？
就见仁见智了。

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：
我的2018年上半年投资成绩
AEONCR 2018年股东大会
为了获胜 VS 避免失败 part2
COCOLAND 2017年度财政报告
为了获胜 VS 避免失败



其他链接：
2018年文章目录
2017年文章目录
我的2017年投资成绩
关于本人
我的脸书专页

我的推特：@TheCellist86

PANAMY 4th quarter 2018 financial report

Today I would like to write about PANAMY.

First,
let's have a look at the latest quarter financial result of PANAMY:

A great improvement for revenue and PBT,
sadly no more tax incentives like previous year,
so the PAT only improved a little....

The product segment:

There was growth for the Home Appliance products.

As for Fan products,
after the company put into more efforts on marketing,
the sales of fan products finally picked up and just slightly less than last year.

As for revenue segment based on geographical location:

Seems like the growth of revenue was mainly contributed by the sales recovery of Middle East region.

Statement by the management:

The home shower products achieved higher sales because of cooler weather in Vietnam and Malaysia.

The improvement of sales of ceiling fans was seen due to sales recovery in Middle East region.

As for prospects and outlook:

Based on what was written above,
seems like the Middle East region is recovering at economic.

The company will put into efforts to reduce the cost of production.

Lastly,
the dividend:

Except the 133 sen final dividend,
the company also announced a special dividend of 100 sen!

This was a total surprise for the shareholders~

However,
the special dividend didn't encourage the upward movement of shares price,
I guess a lot of people already learnt from previous lesson which,
we can't just chase high because of the special dividend since PANAMY only distribute special dividend once in a while.

According to current shares price,
if we receive the RM2.33 dividend after buying it,
it will be like we bought the shares at current price minus off RM2.33.

Is it worthy?

Well......
it depends~

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 :
My investment return for 1st half of 2018
AEONCR AGM 2018
TO WIN or NOT TO LOSE part2
COCOLAND annual report 2017
TO WIN or NOT TO LOSE



Other links:
List of articles of year 2018
List of articles of year 2017
My investment return for year 2017
My self-introduction article

My Facebook Page

My Twitter : @TheCellist86