[PCCS] Exercise of Warrants on 03-Oct-2022 Stock [PCCS]: PCCS GROUP BHD Announcement Date 03-Oct-2022 Listing Date 04-Oct-2022 New Type/Class? No Type Exercise of Warrants Details Conversion of Warrants to Ordinary Shares No. of shared issued 515,000 Issue Price MYR 0.600 Par Value 0.000 Total NOSH 218,525,607
Athletics apparel manufacturer PCCS Group Bhd has adopted a dividend policy under which the company intends to pay 30% of its profit after tax.
PCCS has announced a special dividend of 6 sen for its financial year ended March 31, 2023 (FY23) as a way to reward shareholders following the disposal of its labelling business.
“PCCS has also set out a dividend policy where it will pay 30% of its profit after tax in respect of the financial year, moving forward,” it said in a statement.
The group’s net profit jumped over 10-fold to RM17.19mil in the first quarter to June 30 from RM1.62mil a year ago.
We also foresee that domestic brands will continue to gradually gain market share from foreign competitors over the coming years. As such, we decided to add shares for Li Ning, the company founded by the famed Chinese gymnast and Olympic gold medalist, to the Global Portfolio.
The sportwear (primarily attire and shoes) and equipment (racquets, basketballs and accessories such as caps, socks and bags) company operates primarily in China, where the market is expected to grow at more than 10% annually. Currently, Li Ning has a roughly 8.2% share of the domestic sportswear market. While smaller than Nike's (19.1) and Adidas' (14.6%), Li Ning been gaining market share and we expect this trend to persist.
Chinese consumers, especially the younger generations, have shown an increasing penchant for home-grown brands of quality that they can identify with, that are more in tune with their needs, tastes and style preferences, and often retail at more attractive prices. These domestic companies have a much better understanding of the nuanced localised differences across the vast country, and are more sensitive to changing trends and traditional culture. They are, therefore, more savvy in terms of their product designs and marketing campaigns.
Li Ning's revenue grew at a CAGR of 26% between 2017 and 2021, generating consistently positive free cash flow (FCF). FCF increased from RMB844 million to RMB4,989 million over this period. The company is sitting on net cash of RMB8,822 million. Inventory days improved from 80 days in 2017 to 55 days in 1H2022.
The recent rebound in China economic activity was encouraging. There were 36.8 million daily passenger trips made in seasonal rush to hometowns, which was 50% above last year's levels. Domestic tourism grew over 23.1% last year during the holidays, and retail sales increased 6.8% year on year - The Edge Malaysia Feb 13, 2023
If that "someone keeps throwing", I will keep accumulating it. The more the merrier! .....as currently the market has over reacted to just the latest quarterly result and in an oversold position now based on the chart. Am sure that with China market now being reopen....things would improve further for this company aided by a stronger USD.
The market will somehow notice it and when mass buying starts....it will return back higher to where it belongs!
PCCS has returned to black! China economy is a lot more vibrant! USD has also gone stronger! Looks like a brighter and better tomorrow for PCCS, is inevitable!
Guess the market players would start to put this counter back into their radar!
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Posted by BursaKakis > 2022-09-19 12:00 | Report Abuse
Very good article on PCCS in The Star Biz on Sat 17092022