[CYCLE & CARRIAGE BINTANG BHD：单位销量和利润率下降]

在高档豪华车领域中的汽车行业充满挑战，Cycle＆Carriage Bintang（“ CCB”或“集团”）在2019年前九个月经历了非常困难的交易条件，导致单位销量和收益大幅下降。

截至2019年9月30日止9个月，集团营业额下跌29％至8.625亿令吉。集团的梅赛德斯-奔驰业务录得净亏损2820万令吉，而去年同期则为净利润660万令吉，这主要是由于该期间的单位销量和利润率下降，而2018年同期受益于槟城水灾的保险赔偿980万令吉和2018年6月至8月GST为零而造成的销售增加。单位销量下降了33％，利润率也有所下降，这是由于销售组合转向低价型号以及疲弱的消费者需求导致高档豪华车市场的下滑。

总体而言，在计入集团在马来西亚梅赛德斯-奔驰投资中获得的1120万令吉股息收入后，净亏损为1700万令吉，而2018年同期为净利润1780万令吉。集团的净债务从2018年底的2.358亿令吉微增至2019年9月底的2.477亿令吉。在马来西亚当前的经济前景疲弱和消费者情绪低迷的情况下，进行了业务审查后，合发吉星将不会在购买的双溪贝西土地上进行计划中的销售，服务，备件工厂（“ 3-S中心”）的建设。该决定是在考虑了因新决定而引起的市场动态变化以及马来西亚综合交通导向发展的大马城项目相关的延误后作出的。

前景：
由于消费者需求低迷且利润率持续受到压力，今年剩余时间的前景仍然充满挑战。
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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 RM1.91 (dividend RM0.025) in 1 year 2 months 29 days, total return is 170.6%

b) PRLEXUS (PROLEXUS BHD), recommended on 25 Aug 19, initial price was RM0.455, rose to RM1.02 in 2 months 16 days, total return is 124.2%

c) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM1.17 in 9 months 21 days, total return is 103.5%

d) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.39 (dividend RM0.04) in 1 year 4 months 11 days, total return is 79.9%

e) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.25 in 10 months 25 days, total return is 56.3%

f) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.42 (dividend RM0.018) in 10 months 18 days, total return is 49%

g) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM2.40 (dividend RM0.01) in 5 months 10 days, total return is 44.3%

h) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.15 (dividends RM0.083) in 1 Year 1 month 5 days, total return is 40.4%

i) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.69 (dividend RM0.07) in 11 months 23 days, total return is 38.6%

j) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.22 (dividend RM0.22) in 1 Year 27 days, total return is 29.1%

k) PESTECH (PESTECH INTERNATIONAL BHD), recommended on 2 Jun 19, initial price was RM1.04, rose to RM1.30 in 5 months 10 days, total return is 25%

l) DESTINI (DESTINI BHD), recommended on 24 Sep 19, initial price was RM0.20, rose to RM0.245 in 1 months 17 days, total return is 22.5%

m) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.26 (dividends RM0.111) in 1 Year 3 months 12 days, total return is 10.4%

n) STRAITS (STRAITS INTER LOGISTICS BHD), recommended on 28 Jul 19, initial price was RM0.21, rose to RM0.23 in 3 months 12 days, total return is 9.5%

o) KAREX (KAREX BHD), recommended on 20 Oct 19, initial price was RM0.445, rose to RM0.48 in 25 days, total return is 7.9%

p) TSH (TSH RESOURCES BHD), recommended on 30 Jun 19, initial price was RM0.90, rose to RM0.965 in 4 months 12 days, total return is 7.2%

q) FIAMMA (FIAMMA HOLDINGS BHD), recommended on 23 Sep 18, initial price was RM0.495, rose to RM0.49 (dividend RM0.0225) in 1 year 1 month 20 days, total return is 3.5%

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

12月22日星期日：AG Hotel Penang, George Town 2份点心

12月29日星期日：Hotel Sri Petaling, KL 3份点心

2020年2月22日星期六：Silka Johor Bahru Hotel, Johor Bahru 7份点心

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

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

12月28日星期六：Hotel Sri Petaling, KL

2020年2月23日星期日：Silka Johor Bahru Hotel, Johor Bahru

3) 【公司业绩分享会】:
2p.m. – 7p.m.，免费茶和咖啡

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

2020年2月21日星期五：Silka Johor Bahru Hotel, Johor Bahru 7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

请大家来Follow James的Instagram，获取最新的资讯：jamesnginvest

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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[CYCLE & CARRIAGE BINTANG BHD: lower unit sales and margins]

Amidst the challenging premium luxury segment of the automotive industry, Cycle & Carriage Bintang (“CCB” or “the Group”) experienced very difficult trading conditions in the first nine months of 2019, which led to significant reductions in unit sales and earnings.

The Group’s revenue for the nine months ended 30th September 2019 decreased by 29% to RM862.5 million. The Group's Mercedes-Benz operations recorded a net loss of RM28.2 million, compared to a net profit of RM6.6 million in the prior year, primarily due to lower unit sales and margins in the period, while the equivalent period in 2018 benefited from insurance compensation of RM9.8 million for damages suffered as a result of floods in Penang and higher sales due to the zero rate of GST from June to August 2018. Unit sales decreased by 33%, along side reduced margins, due to a shift in sales mix to lower-priced models and weak consumer demand, which led to a decline in the premium luxury segment.

Overall, a net loss of RM17.0 million was recorded, compared to a net profit of RM17.8 million in the same period in 2018, after accounting for dividend income of RM11.2 million from the Group's investment in Mercedes-Benz Malaysia. The Group’s net debt increased marginally from RM235.8 million at the end of 2018 to RM247.7 million at the end of September 2019. Following a business review amidst the current subdued economic outlook and consumer sentiment in Malaysia, the Group will not proceed with the planned construction of a Sales, Service, Spare parts facility (“3-S Centre”) on the plot of Sungai Besi land purchased previously. This decision was arrived at after having considered the changes in market dynamics arising from new decisions and delays relating to the integrated transit-oriented development Bandar Malaysia project.

Prospects:
The outlook for the rest of the year remains very challenging, with sluggish consumer demand and continued pressure on margins.
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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