[ANN JOO RESOURCES BHD：售价降低，加上原材料和燃料成本上升]

国际和国内售价仍然低迷，国内需求继续疲软。 2019年第二季度和2019年上半年的亏损主要归因于：

i）售价降低，加上原材料和燃料成本上升；
ii）由于预定的高炉停工，导致2019年第二季度的生产成本高于正常水平；和
iii）2019年第二季度的其他成本包括减记的2254万令吉的存货备抵以及高炉衬砌工作和工厂升级活动的工厂临时停工的间接成本为498万令吉。

QoQ：
与2019年第一季度相比，2019年第二季度的税前亏损较高，主要原因如上所述。

前景：
在近期内需疲软，本地建筑钢材供过于求以及中美贸易摩擦引起的全球经济不确定性的驱动下，充满挑战的行业格局将会在2019年第三季度持续存在。鉴于近期内需增长缓慢的背景，外资独资的本地钢厂向国内市场过度供应建筑钢材仍然是主要的市场动荡的原因。在短期内需低迷的情况下，安裕资源对市场变化和销售组合保持敏锐反应，以满足国际需求并积极增加出口销售。考虑到充满挑战的行业动态，安裕资源本年度的业绩在很大程度上取决于国内供过于求状况的整改步伐以及国内外市场的钢材价格趋势。
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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 RM1.77 (dividend RM0.025) in 1 year 1 month 20 days, total return is 151%

b) PRLEXUS (PROLEXUS BHD), recommended on 25 Aug 19, initial price was RM0.455, rose to RM0.86 in 1 month 9 days, total return is 89%

c) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.45 (dividend RM0.04) in 1 year 3 months 3 days, total return is 87.4%

d) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.25 in 9 months 19 days, total return is 56.3%

e) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.12 (dividends RM0.083) in 11 months 25 days, total return is 38.6%

f) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM2.30 (dividend RM0.01) in 3 months 30 days, total return is 38.3%

g) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.31 (dividend RM0.018) in 9 months 11 days, total return is 37.6%

h) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.64 (dividend RM0.07) in 10 months 17 days, total return is 34.6%

i) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.765 in 8 months 15 days, total return is 33%

j) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.25 (dividend RM0.1875) in 11 months 21 days, total return is 29%

k) PESTECH (PESTECH INTERNATIONAL BHD), recommended on 2 Jun 19, initial price was RM1.04, rose to RM1.23 in 3 months 30 days, total return is 18.3%

l) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.25 (dividends RM0.111) in 1 Year 2 months 5 days, total return is 10.1%

m) VIZIONE (VIZIONE HOLDINGS BHD), recommended on 30 Dec 18, initial price was RM0.85, rose to RM0.89 in 9 months 4 days, total return is 4.7%

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页面与我联系。

1)【看懂年报和季报】课程:
11a.m. – 7p.m.，免费茶和咖啡

10月19日星期六：Silka Johor Bahru Hotel, Johor Bahru 5份点心

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12月29日星期日：Hotel Sri Petaling, KL 3份点心

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

10月20日星期日：Silka Johor Bahru Hotel, Johor Bahru

12月21日星期六：AG Hotel Penang, George Town

12月28日星期六：Hotel Sri Petaling, KL

3) 【公司业绩分享会】:
2p.m. – 7p.m.，免费茶和咖啡

10月18日星期五：Silka Johor Bahru Hotel, Johor Bahru 5份点心

12月20日星期五：AG Hotel Penang, George Town 2份点心

12月27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

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

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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
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[ANN JOO RESOURCES BHD: Lower selling price coupled with rising raw material and fuel costs]

International and domestic selling prices remained depressed, and domestic demand continued to be weak. Losses in 2Q2019 and 1H2019 were mainly attributable to:

i) Lower selling price coupled with rising raw material and fuel costs;
ii) Higher-than-usual production cost in 2Q2019 due to the scheduled Blast Furnace (“BF”) shutdown; and
iii) Other costs in 2Q2019 including allowance for inventories written down of RM22.54 million and overhead cost for plant temporary shutdown on the BF relining exercise and plant upgrading activities amounted to RM4.98 million.

QoQ:
The higher loss before tax in 2Q2019 as compared to 1Q2019 was mainly attributable to reasons stated above.

Prospects:
The challenging industry landscape persists in the third quarter of 2019, driven by weak near-term domestic demand, oversupply of construction steel locally and global economic uncertainty arising from US-China trade friction. Excessive supply of construction steel by foreign-owned local steel mills to the domestic market continues to be the key market disruption given a backdrop of slow progress in domestic demand in the near term. The Group remains highly responsive to market changes and agile in its sales mix to meet international demand and to proactively increase export sales amidst lacklustre near-term domestic demand. Taking into consideration the challenging industry dynamics, the Group’s performance for the year is heavily dependent on the rectification pace of the domestic oversupply situation and steel price trends in both domestic and export markets.
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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.

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