Posted by MrsLim > 4 hours ago | Report Abuse
A repost of my comments in Serbadk forum last year
Posted by MrsLim > 2021-12-12 22:33 | Report Abuse
Greatech or GreatScam?
As at 10th Dec 2021, Greatech's market cap was at a dizzying level of RM8,464M and PE ratio that is close to 100.
Greatech's website at greatech-group.com listed it's product and services as - Solar, Electronic Devices, Semiconductor, Life Science, Energy Storage and Glass Substrate.
It's FY2020 annual reported that Customer A, Customer B and Customer C accounted for 95% of the year's revenue. (Between 2019 and 2020, contribution by Customer B dropped by almost RM104M but a new Customer C contributed RM158M in 2020, a period of global pandemic).
Receivables increased sharply to RM125.559M for the quarter ended 30 September 2021.
Taxes paid for the first 9 months of 2021 is only 0.8% of PBT.
It appears that Greatech derived it's revenue primarily from EV customers.
However, the customers have not been specifically named, with the exception of Atlis Motor Vehicles. Altis Motor Vehicles is just a start-up and the amount of money that it has managed to raised through crowdfunding was only about USD5M.
--->>> Without paying taxes, a company can report high profits just by shipping empty boxes.
--->>> While revenue has increased by 174% for the first nine months of 2021, trade receivables and contract liabilities increased by 237% to reach RM237.344M
--->>> Greatech's customers are dubious
--->>> Greatech's only customer that was named is Altis Motor Vehicles
--->>> By doing fund raising through Instagram and crowdfunding, Altis Motor Vehicles also appears to be a dubious company
--->>> Aturmaju Resourses also has questionable customers and financials and currently has a PE ratio of 2
--->>> At a PE of 2, Greatech's share price is worth only RM0.14/share (2019 PAT RM87.847 x 2 / 1252)
__________________________ 30/09/2021 ______ 30/12/2020
Trade and other receivables ___ 125.559M _______ 41.459M
Contract liabilities ___________ 111.785M ________ 58.349M
Cumulative 9 months _________ 30/09/2021 ______ 30/12/2020
Revenue ___________________ 326.83M ________ 184.78M
Cost of sales ________________ (197.072M) ______ (107.209M)
Gross Profit _________________ 132.761M _______ 77.571M
PBT _______________________ 114.983M _______ 60.144M
Tax expense ________________ (0.947M) ________ (0.806M)
Net Profit __________________ 114.036M ________ 59.338M
https://www.theedgemarkets.com/article/greatechs-us-unit-wins-battery-...
KUALA LUMPUR (April 5): Greatech Technology Bhd said it has secured its first purchase order in the United States from a new electric vehicle (EV) customer for equipment to produce lithium-ion battery cells.
“This new order confirms that our customer has confidence in our technology, quality and reliability of our high-tech equipment,” the industrial automation solutions provider said in a statement.
The identity of the customer and the value of the purchase order were not disclosed.
Page 112
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id...
___________________ FY2020 __________ FY2019
Customer A _________ 48,035.960M _____ 47,744.048M
Customer B ________ 42,054.731M ______ 146,268.945M
Customer C ________ 158,117.222M ______ *
Total _____________ 248,207.913M ______ 194,012.993M
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id...
Page 19
In August 2020, the Group successfully secured our first order for a PLS from a new customer in the EV energy storage.
As announced in February 2021, through our wholly owned subsidiary, Greatech Integration (USA) Inc. has successfully inked a partnership agreement with Atlis Motor Vehicles, Inc.
In early April 2021, the subsidiary successfully secured its first purchase order in USA from a new EV customer for equipment for the production of lithium-ion battery cell.
Atlis Motor Vehicles R&D products: Atlis Energy, XP Platform, XT Pickup
Crowd Funding by Atlis Motor Vehicles
https://investinatlismotorvehicles.com/
Investors: 4,108
Raised: USD 4.999M
Mabel #rchi Mabel,not wise to waste energy to defend this piece of S*it.Better spend time monitoring your winning trade like greatec.Going forward,Fed likely hasten monetary tapering.More s*its will join this one n atamis m mgrc.
12/12/2021 6:52 PM
Cheers to Greatech.
Greatech has been a Darling..
Bought since IPO and it keeps giving Mabel endless orgasm...
To our success
Meow
12/12/2021 9:41 PM
