Posted by khchong78 > 2017-02-27 16:13 | Report Abuse

TEOSENG(7252) ~ 马币蛋价双打击，潮成资本业绩红了！

在鸡蛋价格低迷和马币汇率不振的双重打击下，潮成资本家禽养殖业务红了！在最新季报里显示家禽养殖业务出现了41K的亏损。这是近两年自马币走贬后第一次出现亏损的情况，不过数额并不大，接近break-even。

在季报中不难看出鸡蛋售价和营运成本依然是导致家禽养殖业务低迷的罪魁祸首。
公司的债务股本比率（total debt to equity ratio）接近65%，不过现金增加了许多（34M），基本面依然健全。

那么在火鸡年，鸡蛋股是否会受热捧？潮成资本又是否值得投资呢？
过去三年家禽养殖业务和销售家禽保健产品业务都在稳定的成长。（参考图1）
至于净利方面，家禽养殖业务业务直接插水，销售家禽保健产品业务则稳定上涨。
虽然后者业务稳步上涨，不过基于该业务对整体净利贡献不大，所以无法力挽狂澜，还是逃不过业绩必须下跌的命运。

上图中红色椭圆形是捞低的机会，当时股价低于RM1，徘徊了接近一个月后。分别在12月30号和2月10号突破了两次（青色箭头）。如果要如脑科医生在手术前看X-ray的方式来解释这两次突破，笔者认为第一次是年尾的粉饰效应，第二次则是因为农历新年期间鸡蛋价格上涨了（下图红色框框）。不过价格也在佳节后调整回来了。

既然说到是捞低的机会，笔者本身是否有买入呢？答案是没有 :(
个人认为目前Teoseng已经度过危险期，但距离康复还是有一段路要走。
管理层也在季报中表示，由于马币持续贬值，所以未来的财务表现依然充满挑战。

http://wesharenwetrade.blogspot.my/2017/02/teoseng7252.html

Posted by IamGoogle > 2017-02-27 16:14 | Report Abuse

Egg broken....

Posted by sien > 2017-03-06 11:13 | Report Abuse

coming back soon??

Posted by LiveStrong > 2017-03-09 10:47 | Report Abuse

Bird flu detected in kelantan

Posted by Up_down > 2017-03-28 15:33 | Report Abuse

Share price has dropped so low level. Buy some to keep as its expansion remains intact.

Posted by CaiShenYe > 2017-03-30 11:25 | Report Abuse

see revenue and profit, poor management lol

Posted by TP500 > 2017-03-31 07:09 | Report Abuse

Egg price ↓↓↓ to lowest

Posted by TP500 > 2017-03-31 07:14 | Report Abuse

http://www.dvs.gov.my/index.php/pages/view/1538

Posted by kukubirds > 2017-03-31 18:15 | Report Abuse

when the expansion will complete?

Posted by abangadik > 2017-04-03 10:13 | Report Abuse

This egg still cheap..buy some...

Posted by sengtan > 2017-04-03 11:54 | Report Abuse

once the bird flu issue resolved, this stock will move. Today seems moving a bit....

Posted by abangadik > 2017-04-03 11:58 | Report Abuse

I follow Up_down sifu... he is my idol...

Posted by TP500 > 2017-04-04 21:32 | Report Abuse

Up_down Sifu and abangadik Sifu is my idol

Posted by jibbie > 2017-04-09 06:48 | Report Abuse

CAB cakaran better counter. Lower PE, higher ROE, higher EPS

Posted by TP500 > 2017-04-13 07:03 | Report Abuse

http://www.dvs.gov.my/index.php/pages/view/1538

Posted by twoplus > 2017-04-13 21:48 | Report Abuse

still down trend

Posted by Sebastian Sted Power > 2017-04-20 15:19 | Report Abuse

price up and down people also need makan telurrrr.. With high export to Singapore (will be benefit of higher exchange rate of SGD to RM)

Posted by Kennard Lau > 2017-04-21 00:31 | Report Abuse

sure we can eat cheap eggs tomorrow sapu

Posted by Sebastian Sted Power > 2017-04-26 13:38 | Report Abuse

buying engine started!

140K at 1.04 just sapu by someone

Posted by Sebastian Sted Power > 2017-04-26 14:51 | Report Abuse

another 100K at 1.05 sapu by someone;

likely to have 5-10% gain within a week

Posted by Sebastian Sted Power > 2017-04-26 14:51 | Report Abuse

another 100K at 1.06 sapu by someone

Posted by starfish88 > 2017-04-26 14:53 | Report Abuse

bottom up

Posted by Sebastian Sted Power > 2017-04-26 14:56 | Report Abuse

once 1.07 big block cleared then 1.10 hopefully

Posted by sengtan > 2017-04-26 16:23 | Report Abuse

Teo Seng Long term plan still remains intact..as the negative sentiment of bird flu is cleared, I believe the confidence has returned

Posted by Sebastian Sted Power > 2017-04-27 04:07 | Report Abuse

up or drop is normal; in fact egg is one of the MUST for our daily life.

As long as the management can handle well, will be in good shape, Just look at Nestle, all their raw materials keep increasing yet every QR still can gain millionssssss.

Obviously someone is start buying in; expected coming day brokers house will start to set a Target price

Posted by Striker90 > 2017-04-27 07:43 | Report Abuse

strengthen Ringgit is a good news for all poultry integrator as it can offset the current high imported feed cost, but pls be reminded the egg price for the first quarter was lower in average compared to 2016.
Please refer to DVS website for the weekly egg price.
fyi egg price still remain the core factor for the company profit.

Posted by Up_down > 2017-04-27 11:58 | Report Abuse

Don't forget TeoSeng new feedmill factory is ready for contribution.

Posted by SY12 > 2017-04-27 13:35 | Report Abuse

hi all sifus, is this a good time to buy now?

Posted by abangadik > 2017-04-27 16:29 | Report Abuse

Annual Report is out. Have fun reading.. Looking forward to sifu2 write a few piece of good sharing. kekeke..

Posted by paperplane2016 > 2017-04-28 14:10 | Report Abuse

https://www.bloomberg.com/news/videos/2017-04-28/here-s-why-chinese-egg-futures-are-at-a-record-video

Posted by paperplane2016 > 2017-04-28 14:10 | Report Abuse

Up Down bro is here also, must be good loh. hehe

Posted by paperplane2016 > 2017-04-28 14:11 | Report Abuse

ANNA KITAKANA is CUTE!, I love this lady

Posted by abangadik > 2017-04-28 15:25 | Report Abuse

planegor...fund all pullout last year. but got one very lowkey superinvestor in top10 in latest AR hahaha...

Posted by paperplane2016 > 2017-04-28 15:26 | Report Abuse

Is it. Let me check later

Posted by Sebastian Sted Power > 2017-05-04 10:13 | Report Abuse

RM up, Egg price up but share price down!

WTFFFFFF

Posted by godhand > 2017-05-05 15:37 | Report Abuse

lol this sebastian so impatient come and complain everyday. sell your stock la

Posted by SY12 > 2017-05-05 15:40 | Report Abuse

is it a good buy now?

Posted by Sebastian Sted Power > 2017-05-05 23:18 | Report Abuse

where got complain everyday? I just want to make this counter have some fire and some discussion

If you "bo song" then please don't come here.

Posted by TP500 > 2017-05-06 15:36 | Report Abuse

http://www.dvs.gov.my/index.php/pages/view/1538

Posted by kukubirds > 2017-05-11 10:04 | Report Abuse

who is the superinvestor?

Posted by Goldchia MH > 2017-05-13 13:47 | Report Abuse

Buy CCK. Laying golden egg. Like CAB.

Posted by Up_down > 2017-05-15 12:24 | Report Abuse

Top up more while people are not interested in this laggard eggs counter. Waiting game..

Posted by abangadik > 2017-05-15 12:31 | Report Abuse

egg > chicken > phoenix .

Posted by Up_down > 2017-05-15 12:36 | Report Abuse

Abangadik. We love potential growth companies at depressing prices. TeoSeng is one of them. The company will enjoy fruitful results from factory expansion in next few months.

Posted by abangadik > 2017-05-15 12:40 | Report Abuse

Valuetrade great company at fair price and buying good company at undervalue price. A bit oldschool but it works and respect my 20-80 rules. Spend 20% of time, make 80% of the money.

Posted by abangadik > 2017-05-15 12:46 | Report Abuse

If compare 2015 and 2016 AR.. The selldown is by big funds.. basically all gone from the top30 list. After careful study on their expansion plan and comparing with the peers, I feel this laggard has some real potential.

Improving market sentiment, strengthening of ringgit helps to lower the cost of chickenfeed(soy) in USD, increase of egg price for the next two qr. I think Teoseng deserved a second look.

Posted by Up_down > 2017-05-15 13:20 | Report Abuse

IBs and Medias have not started promotion activities. Accumulating...

Posted by TP500 > 2017-05-15 23:23 | Report Abuse

kakikong kakisong

Posted by Sebastian Sted Power > 2017-05-16 09:52 | Report Abuse

after cck, next will be teoseng

Posted by abangadik > 2017-05-16 11:26 | Report Abuse

incubating..kekeke...some egg wants to hatch liao.