[HEVEABOARD BHD：中美贸易战引起的市场情绪疲软]

截至2019年12月31日的本季度，集团的收入和税前利润分别为1.2194亿令吉和717万令吉，与2018财年同期相比分别减少409万令吉或3.24％和增加376万令吉或110.51％。

YTD19 vs YTD18:
截至2019年12月31日的12个月，集团的收入和税前利润分别为4.1919亿令吉和1599万令吉，分别与2018财年同期相比减少2870万令吉或6.41％，增加241万令吉或17.76％。减少的是刨花板部门，而RTA部门则有所增加。

刨花板制造部门：
期内的收入和税前利润分别比去年同期减少了3732万令吉或19.64％和1013万令吉或76.15％。较低的收入和税前利润是由于中美贸易战引起的市场情绪疲软，以及对RTA部门的公司间销售（合并后消除）增加所致。较低的利润是由于充满挑战的市场条件导致平均售价下降。

RTA制造业：
该期间的收入和税前利润与去年同期相比分别增加了819万令吉或3.18％和1,304万令吉或577.41％。

真菌栽培：
该期间的收入比去年同期增加了43万令吉或102.64％。除税前亏损较高是由于改造生产线产生的费用增加，以及更高的研发，营销和促销成本以提高本地市场对杏鲍菇的认识。

QoQ：
该集团本季度的PBT为717万令吉，比截至2019年9月30日的前一个季度的424万令吉增加了293万令吉或69.10％。

前景：
全球商业环境仍然充满挑战，因为贸易战带来的宏观经济条件高度不确定，目前Covid-19爆发进一步加剧了这种情况。董事会对面临的挑战持谨慎乐观的态度。
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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 RM2.13 (dividend RM0.04) in 1 year 8 months 12 days, total return is 203.5%

b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.61 (dividend RM0.04) in 1 year 9 months 23 days, total return is 107.5%

c) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM3.00 (adjusted)(dividend RM0.055) in 10 months 22 days, total return is 82.9%

d) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM1.03 in 1 year 3 months 4 days, total return is 79.1%

e) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.21 (dividend RM0.148) in 1 Year 6 months 17 days, total return is 48.3%

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email：jamesngshare@gmail.com
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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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[HEVEABOARD BHD: soft market sentiment caused by the trade war between US and China]

The revenue and profit before tax of the Group for the current quarter ended 31 December 2019 were RM121.94 million and RM7.17 million, a decrease of RM4.09 million or 3.24% and an increase of RM3.76 million or 110.51% respectively as compared with the corresponding quarter in FYE 2018.

YTD19 vs YTD18:
For the 12 months ended 31 December 2019, the revenue and profit before tax for the Group were RM419.19 million and RM15.99 million, a decrease of RM28.70 million or 6.41% and an increase of RM2.41 million or 17.76% respectively as compared to the corresponding period in FYE 2018. The decrease was from the particleboard sector whereas the RTA sector had increased.

Particleboard Manufacturing Sector:
The revenue and profit before tax reported for this period decreased by RM37.32 million or 19.64% and RM10.13 million or 76.15% respectively as compared to the same period last year. The lower revenue and profit before tax were mainly due to soft market sentiment caused by the trade war between US and China, and also higher inter-company sales to the RTA sector which was eliminated on consolidation. The lower profit was due to lower average selling price caused by the challenging market conditions.

RTA Manufacturing Sector:
The revenue and profit before tax reported for this period increased by RM8.19 million or 3.18% and RM13.04 million or 577.41% as compared to the same period last year.

Fungi Cultivation:
The revenue reported for this period increased by RM0.43 million or 102.64% as compared to the same period last year. The higher loss before tax was due to higher expenses incurred in retrofitting the production line and also higher R&D, marketing and promotional costs to create awareness of the eryngii mushroom in the local market.

QoQ:
The Group reported a PBT of RM7.17 million for the current quarter as compared to RM4.24 million for the immediate preceding quarter ended 30 September 2019, an increase of RM2.93 million or 69.10%.

Prospects:
The global business environment remains challenging as the macroeconomic conditions are highly uncertain with the trade war and currently further exacerbated by the Covid-19 outbreak. The Board is cautiously optimistic in facing the challenges ahead.
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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

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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