“We expect stronger demand for RF tester in 4QFY17, driven by production ramp-up ahead of new flagship smartphone model launches and a new customer win in China.
this is from CIMB research. a New customer win in china... possible is huawei,oppo or xiami.
congratulate all employee and thanks for very successful quarters. They had several record breaking achievement and exceeded expectation, with following highlight: -aemulus delivered 15% order growth, 60% revenue growth, 20% profit margin and 70% earning growth. -we achieved record orders in areas such ATE, with significant win at singapore company and record order for data storage, automotive and energy and design software. -we closed the mou with new company which in mobile celular in china, which was ahead of our timeline as we efficiently obtained financing and cleared all necessary regulatory approvals. It's clear stakeholders inside and outside of the company anticipate great things that we will accomplish together. Our integration efforts are strong start and we look forward partnering on end-to-end solution. Working together ,we will expand our number of touch points within long-term technology trends and key customers, and accelerate our growth.
Gain on return alone of 200k is not meaningful if based on capital of 5m. But if based on capital of 200k then it is wonderful. Anyhow, recent quarter result is not too impressive compared to previous quarter. Depends whether there is still room for growth to support its continued price uptrend
CIMB RESEARCH Semiconductor│Malaysia│August 17, 2017
AEMULUS HOLDINGS BHD
3QFY9/17: Boost from enterprise tester demand ■ 9MFY9/17 core net profit beat our/Bloomberg consensus estimates, at 85%/104% of FY17F forecasts, due to higher-than-expected tester volume shipment in 3QFY9/17. ■ It reported a core net profit of RM5.4m in 9MFY9/17, compared to a RM0.5m core net loss in 9MFY9/16, due to higher RF and enterprise storage tester shipment volumes. ■ We raise our FY17-19F EPS by 15-19% to reflect higher tester shipment volumes. ■ We expect stronger demand for RF tester in 4QFY17, driven by production ramp-up ahead of new flagship smartphone model launches and a new customer win in China.
3QFY9/17 core net profit boosted by enterprise tester demand Revenue in 3QFY9/17 rose 118% yoy to reach RM12m on the back higher tester shipment volumes due to improving demand in enterprise storage, and smartphone and tablet (S&T) markets. The group’s EBITDA margin expanded 19.8% pts yoy to reach 25.3%. As a result of higher operating leverage, Aemulus posted a higher core net profit of RM2.7m in 3QFY9/17 compared to RM0.1m in 3QFY9/16.
Sequential earnings improvement in 3QFY9/19 3QFY9/17 revenue grew 11% qoq due to higher enterprise tester shipment volumes on the back of improving demand for enterprise storage. We estimate the group sold five units of AE4600 testers in 3QFY17 vs. three units in 2QFY17. Overall, its core net profit in 3QFY17 grew 15.8% qoq, after stripping out the unrealised forex losses of RM0.3m. As expected, there was no dividend declared for the quarter.
9MFY9/17 results beat expectations In 9MFY9/17, revenue rose 77.1% yoy due to higher tester shipment volumes on the back of a successful automated tester equipment design win for a tier-1 smartphone company and demand recovery across the enterprise storage and S&T segments. Aemulus shipped eight units of AE4600 tester in 9MFY9/17, which already exceeds the two units that it shipped for the whole of FY16. Overall, Aemulus recorded a core net profit of RM5.4m in 9MFY9/17 against a core net loss of RM0.5m in 9MFY9/16. Raise FY17-19F EPS by 15-19%
We raise our FY17-19F EPS by 15-19% to account for an 10-15% increase in tester shipment volumes for the AE4600 and AE7600 models, and margin expansion from higher utilisation. We believe Aemulus is on track for an earnings recovery in FY17F, driven by improving demand outlook in the global semiconductor industry as independent market research groups are projecting 13% sales growth in 2017 (vs. 1.1% in 2016).
Maintain Hold with a higher target price Maintain Hold with a higher RM0.69 target price, now based on 24x CY18F P/E, 10% premium to the sector mean to reflect the stronger earnings growth outlook (vs. 22x previously).
CONCLUSION: CIMB GAVE AEMULUS TARGET PRICE AS FOLLOW: 23 FEB 2017 : RM0.32 18 MAY 2017 : RM0.53 17 AUGUST 2017 : RM0.69
CIMB KEEP ON INCREASING THEIR TARGET PRICE. CAN WE EXPECT MID OF NOVEMBER 2017 TO BE RM0.89 - RM1.14 ??
No point sell and hope to buy back the lower price. Sometimes teory work and actual don't. You may not get to buy back at lower price as you always hope for Lower & lower. When price go up you may even buy back at higher price than you have sold.
Most of the technology and semicon stocks in the US have rise since last year Oct/Nov 2016 but Malaysia technology and semicon stocks have only been trending since April 2017.
Thus US might provide positive clues that Malaysia technology and semicon stocks are heading.
KUALA LUMPUR (Aug 19): The Edge weekly in its latest edition said that joining the US tech stock rally, Bursa Malaysia-listed semiconductor and semiconductor-related companies have risen between 22% and 250% this year.
In its cover story, the Edge’s Liew Jia Teng wrote that year to date, the Bursa Malaysia Technology Index has soared 70% to 37.59 points, its highest level since 2005.
Local technology companies and investors are bullish about the sector’s prospects, mainly due to its long-term earnings sustainability, underpinned by the diversification of products and customer base, reported the Edge.
The weekly reported that 2017 is promising to be another good year for the semiconductor supply chain with device, material and equipment suppliers expecting revenue and earnings growth for the year.
It said according to information technology research and advisory firm Gartner Inc, worldwide semiconductor revenue is forecast to total US$386 billion this year, an increase of 12.3% from last year.
Favourable market conditions that gained momentum in the second half of 2016, particularly for commodity memory, have accelerated and raised the outlook for the market in 2017 and 2018.
Unit production estimates for premium smartphones, graphic cards, video game consoles and automotive applications have improved and contributed to the stronger outlook this year.
Gartner also projected global semiconductor capital spending to increase 10.2% to US$77.7 billion this year.
“This growth rate is up from the previous quarter’s forecast of 1.4% due to continued aggressive investment in memory and leading-edge logic, which is driving spending in wafer-level equipment,” it said in an Aug 2 press release on its 2Q2017 update.
It added that the concentration this year is due to strong manufacturing demand in memory and leading-edge logic.
On a separate note, global microelectronics industry association SEMI projects that the semiconductor material market will expand 2% this year in light of growth expectations for the device market.
Market forecasts for the semiconductor market this year are also optimistic, with growth projections ranging from 3% to 11%. Given current capital expenditure announcements and the strong equipment order activity throughout 2H2016, prospects for the semiconductor equipment subsector look bright as well.
hi all...basket la my uncle...he went and push hevea. never mind, i already called my 2nd aunt from my mother's side. she said will try to get at least 3.7 million for this counter. u all hold on there. help is on the way.
stock is like that, it will down for few week and up again. see the last Q2 result out, result is good but push down. we don't know how low it will deep and how high it will reach. as a investor, view for long term for better benefit. we saw this company is growing and good future. so nothing to worry and stay tune for Q4 and there will be dividend for 2017 historical good result.
taiwan office is launch at Jan2017 and there is new potential customer at SEPTEMBER2017 . see the link and you know how big the show room is... huge ok..
2017-2018 is year of technology 5G solution and IOT(internet of things) . which company can leading this technology ?ans: aemulus.. see your phone data only H+,E,3G sometimes. 2018 Is 5G ok... imagine that your data is from fast to faster, open FB in 1second and this 5G all new phone need to change IC to 5G solution IC.. big market in china. Also IOT which apply in automative industry ,everything is in 1 chips.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
guess1978
260 posts
Posted by guess1978 > 2017-08-18 12:26 | Report Abuse
unicorn...why not wait for another 106k?