[POH HUAT RESOURCES HOLDINGS BHD：出货量稳步增长，在可预见的未来，这一趋势可能会保持强劲]

就本季度而言，他们录得较高的营业额1.4701亿令吉，而去年截至2018年4月30日的同期为1.2553亿令吉。营业额同比增长17.1％主要由马来西亚业务的家具出货量大幅增加。

他们的马来西亚业务营业额增长了28.7％，因为他们从美国客户那里收到的面板卧室套装订单明显增多。美国消费者，特别是年轻人群，现在很容易接受现成的面板家具作为卧室家具最实用和最具成本效益的选择。

在越南，他们继续享受客户的持续订单，尽管增长速度较为温和。随着美国消费者转向更具成本效益的产品系列，他们的产品组合趋向于美国市场中更实惠的部分，因为他们的客户强调超过高价值产品的数量。

与营业额增加一致，堡发资源录得较高的毛利2535万令吉，而去年同期则为1900万令吉。毛利率从15.13％上升至17.24％。受马来西亚业务中面板家具强劲出货的推动，毛利润由去年同期的927万令吉增加至本期间的1,671万令吉。毛利率从16.24％上升至22.73％，原因是原材料成本占销售额的比例下降，以及基于面板的卧室套装的生产和出货量的增加吸收了间接费用。较高的毛利导致本期间的税前利润大幅增加到1008万令吉。

在越南，尽管营业额增加，但毛利润从上一年同期的973万令吉下降至本期间的864万令吉。不包括前一年同期的一次性非经营性收入，即先前冲销的450万令吉的坏账回收和火灾保险赔偿金127万令吉，当前季度税前利润为1197万令吉，与去年同期录得的经调整除税前利润688万令吉相比，改善约74％。

QoQ：
由于材料成本下降，即刨花板，家具零件和硬件，毛利率从20.47％上升至22.73％，而直接人工和工厂管理费用占销售额的百分比基本保持不变。于本回顾期间，经营业绩改善及销售及行政开支较低，导致本期间的税前利润较高为1007万令吉。

前景：
虽然美国劳动力市场和消费者支出在2019年前四个月保持强劲，但持久的中美贸易战可能会对消费者信心和美国经济产生负面影响。人口结构的变化以及美国市场向更时尚但更实惠的家用家具系列的转变，已经看到他们从马来西亚业务获得更多基于面板的现成组装家具的订单。他们的出货量稳步增长，在可预见的未来，这一趋势可能会保持强劲。他们将继续与客户合作，以​​应对人口统计和市场趋势的变化。他们将努力提高生产效率，并与客户合作，以​​减少原材料价格和劳动力成本增加的影响。
-----------------------------
James Ng Stock Pick Performance:
Since Recommended Return:

a) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM1.64 (dividend RM0.015) in 11 months 6 days, total return is 131.5%

b) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.46 in 7 months 3 days, total return is 82.5%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.39 (dividend RM0.04) in 1 year 17 days, total return is 79.9%

d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.54 (dividend RM0.1875) in 9 months 4 days, total return is 44.3%

e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.34 (dividend RM0.008) in 6 months 25 days, total return is 39.7%

f) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.795 in 5 months 28 days, total return is 38.3%

g) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.70 (dividend RM0.035) in 7 months 30 days, total return is 36.6%

h) PESTECH (PESTECH INTERNATIONAL BHD), recommended on 2 Jun 19, initial price was RM1.04, rose to RM1.41 in 1 month 18 days, total return is 35.6%

i) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM1.84 (dividends RM0.063) in 9 months 11 days, total return is 19.7%

j) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.995 in 6 months 18 days, total return is 17.1%

k) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.60 (dividends RM0.04) in 9 months 18 days, total return is 14.7%

l) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.18 in 5 months 28 days, total return is 13.5%

m) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.15 (dividends RM0.084) in 11 months 19 days, total return is 6.9%

我希望将我的策略分享给读者，希望他们在阅读后能够表现出色。我正在使用基本面分析（Fundamental Analysis）：

预计公司每年的增长率必须> 14％

我想说服读者学习基本面分析FA以便能从股市赚钱。

我为想从马来西亚股票市场赚钱的读者提供STOCK PICK服务。想订阅我的邮件以从股票市场获取良好回报的人，可以通过jamesngshare@gmail.com 或我的FB页面 https://web.facebook.com/jamesshareinvest/ 与我联系

1)【股票-实际操作班】课程：
10a.m. – 9p.m.，免费午餐和晚餐

7月28日星期日：Silka Johor Bahru Hotel, Johor Bahru

8月10日星期六：AG Hotel Penang, George Town

9月7日星期六：Hotel Sri Petaling, KL

2)【看懂年报和季报】课程:
11a.m. – 7p.m.，免费茶和咖啡

7月27日星期六：Silka Johor Bahru Hotel, Johor Bahru 5份点心

8月11日星期日：AG Hotel Penang, George Town 4份点心

9月8日星期日：Hotel Sri Petaling, KL 3份点心

3) 【公司业绩分享会】:
2p.m. – 7p.m.，免费茶和咖啡

7月26日星期五：Silka Johor Bahru Hotel, Johor Bahru 5份点心

8月9日星期五：AG Hotel Penang, George Town 4份点心

9月6日星期五：Hotel Sri Petaling, KL 3份点心

有兴趣的朋友，可以电邮或PM FB page联络我
email：jamesngshare@gmail.com
电话/Whatsapp : 011 - 15852043

为了方便大家查询我写过的公司和选股文章以及视频，制作了索引。大家只要依照日期，就能从这 
https://web.facebook.com/jamesshareinvest/posts/2325332794400128 找到公司和选股文章以及视频。

James的股票投资James Share Investing Blog: https://klse.i3investor.com/blogs/general/

James的股票投资James Share Investing Blog Index: https://klse.i3investor.com/blogs/general/blidx.jsp

Facebook Group: https://www.facebook.com/groups/jamesinvesting

这个是我的TELEGRAM Group链接，大家可以在这个Group获知何时做Fb live: https://t.me/joinchat/LhwHNhdU1fDgxrSafTrTiw

请大家来Follow James的Instagram，获取最新的资讯： https://www.instagram.com/p/B0Htdi_HPIT

这个分享纯属讨论以及领域的分析，买或卖自负。请Like和Share这个post。最终决定永远是你的，谢谢。

James Ng
----------------------------------------------------
[POH HUAT RESOURCES HOLDINGS BHD: They registered healthy increase in shipment and the trend is likely to remain strong in the foreseeable future]

For the quarter under review, they recorded a higher turnover of RM147.01 million compared to RM125.53 million recorded in the previous year corresponding quarter ended 30 April 2018. The 17.1% year-on-year increase in turnover was mainly driven by the substantial increase in shipment of furniture from their Malaysian operations.

Their Malaysian operations registered a 28.7% increase in turnover as they received significantly more orders for their panel-based bedroom sets from their customers in the US. US consumers, particularly the young demographics, now readily accept ready-to-assemble panel-based furniture as the most practical and cost effective option for bedroom furniture.

In Vietnam, they continued to enjoy sustained orders for their customers, albeit at a more moderate pace of increase. Reflective of the shift to the more cost effective range of products amongst US consumers, their products mix have trended to the more affordable segment of the US market as their customers emphasised volume over higher value items.

In line with the increase in turnover, the Group recorded higher gross profit of RM25.35 million compared to RM19.00 million in the previous year’ corresponding period. Gross profit margin increased from 15.13% to 17.24%. Driven by the strong shipment in panel-based furniture from their Malaysian operations, gross profit increased from RM9.27 million in the previous’ year corresponding period to RM16.71 million in the current reporting period. Gross profit margin rose from 16.24% to 22.73% due to lower raw material costs as a percentage of sales and better absorption of overheads from increased production and shipment of panel-based bedroom sets. The higher gross profit has resulted in a significantly higher profit before tax of RM10.08 million for the current period under review.

In Vietnam, gross profits dropped from RM9.73 million in the previous’ year corresponding period to RM8.64 million in the current period under review despite higher turnover. Excluding the one-off non-operational incomes in the previous’ year corresponding period i.e. the recovery of bad debt previously written off of RM4.50 million and fire insurance compensation of RM1.27 million, the current quarter profit before tax of RM11.97 million would been an improvement of about 74% compared to the adjusted profit before tax of RM6.88 million recorded in the previous’ year corresponding period.

QoQ:
Gross profit margin rose from 20.47% to 22.73% due to lower material costs, namely particle boards, furniture parts and hardware while direct labour and factory overheads, as a percentage of sales, remain broadly the same. The improved operational results and the lower selling and administration expenses during the current period under review have resulted in a higher profit before tax of RM10.07 million for the current period under review.

Prospects:
While the US labour market and consumer spending remains robust for the first four months of 2019, a protracted US-China trade war could likely have adverse impact on consumer confidence and the US economy. The change in demographics and shift in the US market to trendier but more affordable range of household furniture have seen them getting more orders for panel-based ready to assemble furniture from their Malaysian operations. They registered healthy increase in shipment and the trend is likely to remain strong in the foreseeable future. They will continue to work with their customers to cater for the changes in demographics and market trends. They will strive for better manufacturing efficiency and work with their customers to mitigate increases in raw material prices and labour costs.
--------------------------------------------------------------------------
James Ng Stock Pick Performance:
Since Recommended Return:

a) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM1.64 (dividend RM0.015) in 11 months 6 days, total return is 131.5%

b) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.46 in 7 months 3 days, total return is 82.5%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.39 (dividend RM0.04) in 1 year 17 days, total return is 79.9%

d) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.54 (dividend RM0.1875) in 9 months 4 days, total return is 44.3%

e) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.34 (dividend RM0.008) in 6 months 25 days, total return is 39.7%

f) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.795 in 5 months 28 days, total return is 38.3%

g) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.70 (dividend RM0.035) in 7 months 30 days, total return is 36.6%

h) PESTECH (PESTECH INTERNATIONAL BHD), recommended on 2 Jun 19, initial price was RM1.04, rose to RM1.41 in 1 month 18 days, total return is 35.6%

i) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM1.84 (dividends RM0.063) in 9 months 11 days, total return is 19.7%

j) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.995 in 6 months 18 days, total return is 17.1%

k) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.60 (dividends RM0.04) in 9 months 18 days, total return is 14.7%

l) HSSEB (HSS ENGINEERS BHD), recommended on 20 Jan 19, initial price was RM1.04, rose to RM1.18 in 5 months 28 days, total return is 13.5%

m) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.15 (dividends RM0.084) in 11 months 19 days, total return is 6.9%

I wish to share my strategy to readers, hope that they can perform well after reading this. I am using Fundamental Analysis:

the forecasted growth of a company must > 14% per year

I wish to convince readers to learn FA in order to make money from stock market.

I am providing STOCK PICK SERVICE for readers who want to make money from Malaysian stock market. Those who want to subscribe to my mailing list to achieve a good return from stock market, you can contact me at jamesngshare@gmail.com or PM me in my FB page https://web.facebook.com/jamesshareinvest/

In order to facilitate the query of the company and stock picking articles and videos I have written, an index has been produced. Everyone can find company and stock picking articles and videos from https://web.facebook.com/jamesshareinvest/posts/2325332794400128 by date.

James的股票投资James Share Investing Blog: https://klse.i3investor.com/blogs/general/

James的股票投资James Share Investing Blog Index: https://klse.i3investor.com/blogs/general/blidx.jsp

Facebook Group: https://www.facebook.com/groups/jamesinvesting

This sharing is purely a discussion and analysis of the sector, buying or selling at your own risk. Please Like and Share this post. Final decision is always yours, thank you.

James Ng