Dear Friends of i3 Forum (Please read as we type now)
As we expected JCY posted another set of Good Turnaround Profits
Refer Bursa
See
SUMMARY OF KEY FINANCIAL INFORMATION30 Jun 2024 |
| INDIVIDUAL PERIOD | CUMULATIVE PERIOD | |||
CURRENT YEAR QUARTER | PRECEDING YEAR CORRESPONDING QUARTER | CURRENT YEAR TO DATE | PRECEDING YEAR CORRESPONDING PERIOD | ||
30 Jun 2024 | 30 Jun 2023 | 30 Jun 2024 | 30 Jun 2023 | ||
$$'000 | $$'000 | $$'000 | $$'000 | ||
1 | Revenue | 165,321 | 133,518 | 439,179 | 349,379 |
2 | Profit/(loss) before tax | 10,097 | -3,331 | 12,985 | -65,065 |
3 | Profit/(loss) for the period | 9,886 | -3,552 | 12,586 | -60,906 |
4 | Profit/(loss) attributable to ordinary equity holders of the parent | 9,886 | -3,552 | 12,586 | -60,906 |
5 | Basic earnings/(loss) per share (Subunit) | 0.47 | -0.17 | 0.60 | -2.89 |
6 | Proposed/Declared dividend per share (Subunit) | 0.00 | 0.00 | 0.00 | 0.00 |
| | AS AT END OF CURRENT QUARTER | AS AT PRECEDING FINANCIAL YEAR END | ||
7 | Net assets per share attributable to ordinary equity holders of the parent ($$) | 0.3325 | 0.3240 |
SUMMARY OF KEY FINANCIAL INFORMATION31 Mar 2024 |
| INDIVIDUAL PERIOD | CUMULATIVE PERIOD | |||
CURRENT YEAR QUARTER | PRECEDING YEAR CORRESPONDING QUARTER | CURRENT YEAR TO DATE | PRECEDING YEAR CORRESPONDING PERIOD | ||
31 Mar 2024 | 31 Mar 2023 | 31 Mar 2024 | 31 Mar 2023 | ||
$$'000 | $$'000 | $$'000 | $$'000 | ||
1 | Revenue | 147,146 | 104,618 | 273,858 | 215,861 |
2 | Profit/(loss) before tax | 5,459 | -25,329 | 2,888 | -61,734 |
3 | Profit/(loss) for the period | 5,346 | -25,283 | 2,700 | -57,354 |
4 | Profit/(loss) attributable to ordinary equity holders of the parent | 5,346 | -25,283 | 2,700 | -57,354 |
5 | Basic earnings/(loss) per share (Subunit) | 0.25 | -1.20 | 0.13 | -2.72 |
6 | Proposed/Declared dividend per share (Subunit) | 0.00 | 0.00 | 0.00 | 0.00 |
| | AS AT END OF CURRENT QUARTER | AS AT PRECEDING FINANCIAL YEAR END | ||
7 | Net assets per share attributable to ordinary equity holders of the parent ($$) | 0.3256 | 0.3240 |
Cash and bank balances
Rm155,708,000 (2024)
Rm 103,126,000 (2023)
Cash YoY is Up Rm52,582,000 or increased by 50.9%
JCY already Cash Rich
Now More CASH HAS FLOWED IN
Now see Borrowings
Short term borrowings
Rm 34,783,000 (2024)
Rm 44,143,000 (2023)
Borrowings improved by Rm9,360,000
So Borrowings pared down by 21.2%
EXCELLENT!
EXCELLENT!!
CLAP!
CLAP!!
CLAP!!!
Cash Increased And Borrowings Down?
Let's see Total Cash less Debt
So
Rm155,708,000 - Rm34,784,000
= Rm120.924 Milions
How Much Per Share?
5.74 sen per share net cash
It is rare to see A Tech Company even after 2 years of losses turn into a Net Cash entity
Look forward Refer Bursa
Detailed Analysis for current quarter and cumulative period
The Group has been resilient and returned to profitability in the second quarter ended 31 March
2024 after recording losses for the past two financial years ended 30 September 2022 and 2023.
Net profit for the 6-month financial period ended (“FPE”) 31 March 2024 amounted to RM2.7
million versus a net loss of RM57.4 million for the 6-month FPE 31 March 2023, on the back of a
rise in demand for both hard disk drives (“HDD”) and solid-state drives, coupled with an
improved cost structure.
The positive momentum continues into the current reporting quarter (ended 30th June 2024).
The Group recorded a revenue of RM165.3 million for the reporting period, this represents an
increment of 23.8% in revenue for the reporting quarter compared to the previous year's
corresponding period. The Group recorded a net profit of RM9.9 million for the reporting
quarter, compared to net loss of RM3.6 million recorded in the previous year's corresponding
period. The Group’s two straight quarters of profit is significant given its capacity utilization rate
is just reaching 50% in the current reported quarter.
For the reported quarter, cash generated from operating activities amounted to RM21.8 mil.
Cash balance improved to RM 155.7 mil, with no changes in bank borrowings (RM 34.8 mil).
Note this
The Group’s two straight quarters of profit is significant given its capacity utilization rate
is just reaching 50% in the current reported quarter.
VERY SIGNIFICANT
TWO STRAIGHT QTRS OF PROFITS BUT UTILIZATION RATE JUST REACHED 50%
IN OTHER WORDS THERE IS MORE ROOM FOR GROWTH
AND HOW DID IT INCREASE BY SUCH GOOD PROFIT MARGINS EVEN THOUGH SALE CAPACITY UP A MODEST SUM
See
FUTURE PROSPECT
The Group recorded a revenue of RM165.3 million for the reporting period, this represents an
increment of 12.4% compared to RM147.1 million revenue recorded in the immediate preceding
quarter ended 31 March 2024. The higher revenue is in line with improved demand from our key
customers.
The Group recorded a net profit of RM9.9 million for the reporting quarter, compared to net
profit of RM5.3 million recorded in the immediate preceding quarter ended 31 March 2024. As
mentioned in B1 above, the company continued to improve its revenue, cost structure and enjoy
economies of scale for some of the products.
The reported quarter total HDD storage market showed a 2% increase Quarter on Quarter (QoQ)
in units shipped and 11% QoQ total Storage Capacity shipped, increasing to 290 Exabytes (EB).
This is the 3rd straight quarter that the industry is seeing unit HDD shipment increase
Read again
The reported quarter total HDD storage market showed a 2% increase Quarter on Quarter (QoQ)
in units shipped and 11% QoQ total Storage Capacity shipped
Total Storage increased by only 2%
BUT UNITS SHIPPED IS 11% IN STORAGE CAPACITY
SO EFFORT INPUT 2% AND OUTPUT IS 11%
UP A 550% MULTIPLE!
JCY HAS LOW COST LABOUR BUT ITS PROFIT MARGIN NOW GOING HIGH
AN EXCELLENT VIRTUOUS CYCLE OF GROWTH
Calvin further comments,
Now as we Know we are just 2 Years into Covid 19 Recovery from 2022 to 2024
Many DATA CENTERS ARE MUSHROOMING ALL OVER THE WORLD
IT TAKES 2 TO 3 YEARS TO SEE ALL NEW DATA CENTERS COME ON STREAM
AS SUCH THE "FUTURE ORDERS" FOR HDD & SSD ARE YET TO COME IN
NOW SALES STILL IN TRICKLE
LATER WILL BE IN TORRENTS
So We Will Hold JCY & DUFU & Anymore Sell Down on Notion we will buy and average down slowly
Our First Buy Calls
JCY 32 sen
DUFU Rm2.20
NOTION 52.5 sen
Notion still up by a Big Margin While DUFU is the Laggard
Therefore we will add DUFU on Weakness as Well as JCY
And if Notion comes back down then we will slowly add
Please do not simply punt or play contra
Buy only if you can pick up & hold longer term
With Kind Regards to All
Calvin Tan
Please buy/sell after doing your own due Diligence or Consult your Remisier/Fund Manager
Created by calvintaneng | Aug 22, 2024
Created by calvintaneng | Aug 03, 2024
https://www.datacenterdynamics.com/en/news/
DC CENTERS DEMAND FOR HDD IS FROM ALL NATIONS ON EARTH (NOT LIMITED TO USA ALONE)
ALL 8 BILLION PEOPLE ON EARTH WILL NEED HDD DIRECTLY OR INDIRECTLY
https://www.datacenterdynamics.com/en/news/
9 hours ago
Since Data Centers will be ready in two or more years time there is a Time lag for more incoming Orders for HDD
This is the time to prepare for more Orders
And since there is 50% capacity for expansion it augurs well for Jcy to capture the upcoming demand
7 hours ago
calvintaneng
https://www.datacenterdynamics.com/en/news/
DC CENTERS DEMAND FOR HDD IS FROM ALL NATIONS ON EARTH (NOT LIMITED TO USA ALONE)
ALL 8 BILLION PEOPLE ON EARTH WILL NEED HDD DIRECTLY OR INDIRECTLY
https://www.datacenterdynamics.com/en/news/
9 hours ago