BAUTO (5248): Financials Summary, Key Results, Growth

announce Qr results on 1st week of December And give out special Dividend by 31 Dec---much better Deal

2 weeks ago

Waller

Yup, quite excited about the results next month

2 weeks ago

https://paultan.org/2024/11/20/2025-kia-sportage-ckd-estimated-pricing-in-malaysia/

2 weeks ago

Hope Kia Sportage can give significant boost for Bermaz profit

2 weeks ago

Bought at around 1.5. Thinking to sell as price going no where.

2 weeks ago

Yup it been sliding since September. Outlook looks gloomy unless got new model that can match chinese car

2 weeks ago

Chinese model vs Japanese model vs European model . They are all different categories , quality and consumer segment. Short term yes, mixture demands and competition, and production roll out , but it will no be long. Ask ourselves, if you can afford which make you will buy Chinese, Japanese or European model

If Chinese Car are threat , BMW EV will have no demand

https://www.press.bmwgroup.com/global/article/detail/T0445536EN/bmw-group-posts-significant-bev-growth-in-challenging-market-conditions?language=en

2 weeks ago

Maybe the day may come , we just refuel from garden hose connect to SYABAS ...hahahahaaa . Who need EV.

https://paultan.org/2024/05/29/toyota-mazda-subaru-commit-to-next-generation-ice-development-multi-pathways-to-carbon-neutrality/

2 weeks ago

invest8912

If China EV is not a threat, EU will not impose tariff. Toyota and Honda both give discount here, why ? Sales drop.

2 weeks ago

BILLC

Japan electrical companies mostly bankrupt and gone,,,don’t be surprised the car industry is the next,,,

2 weeks ago

ICE car after 10 to 15 years , if want to keep , just spend 5 to 10k depend on made to swap a recon engine or somethings.. EV ? let wait and see after 5 years. And what is the cost of the battery replacement , electric boards, soft ware ?? Youtube has many video on EV. I felt an improved ICE car has more prospect (what the Japanese makers are looking into)

Will see , how many on the road for this coming CNY and Hari Raya balik kampung jam . Pasar malam diesel generator might come useful ( can get online . like a power bank.. will be a hot sales ) .

1 week ago

Not sure how many market share EV has taken. Just that Mazda range is competing with cheap and gadgets packed Chinese car. Hope Kia Sportage can give a significant contribution to bermaz as this car is also packed with gadgets and should be price quite close to chinese car

1 week ago

Mazda is already moving up market with double digit models which the market share is not known yet. Hope the rumours new CX5 will launch soon and give more features compare current model

1 week ago

Xpeng and Kia are the growth engine that can hope for. Shouldn't expect growth from Mazda; already great if can maintain market share.

1 week ago

These days even EPF scare to buy. Usually got buy every week. Now almost half a month silence from EPF

1 week ago

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3502532
__________________________
DeePal dealership---Looks like Bauto will turn into "major" EV distributors in 3years time ( Madza Brand
in serious trouble )

1 week ago

Deepal s07 is a very handsome ev with Huawei Tech. It got super car essence in it design. Indeed is a good news for Bermaz. Mazda brand really need to buckle up in order to maintain or increase market share in this red sea era

1 week ago

Deepal s05 looking more like Japanese SUV

1 week ago

Changan Automobile has JV with Mazda.

1 week ago

What is Public Bank thinking? Dreaming?
Price Target: 2.80
Last Price: 2.06
Price Call: Hold.

Are you sure your price target is right for a HOLD call?

1 week ago

weixuan0325

Good job Bermaz...

1 week ago

https://paultan.org/2024/11/27/deepal-s05-closer-look-at-ev-suv-coming-to-malaysia-via-bermaz-238-ps-510-km-range-reev-available/

1 week ago

Yes Deepal got REEV version. At least this can compete with Haval H6

1 week ago

Just some thought since Mazda double digit model is going to battle BMW and Mercedez, maybe Bermaz can explore the possibility of filling the affordable range with ChangAn ICE cars. Then this counter will be worth to look into.

1 week ago

Mazda Japan maybe would not mind if Bermaz selling another brand as Bermaz is trying to fill up the gap left by Mazda as they're going to high end market

1 week ago

Is also a good timing for ChangAn to come to south east Asia as the perception for China Made car has been greatly improved due to the effort from Chery and Haval.

1 week ago

X-Peng new EV (2025) is unbelievable fast and beautiful----Bauto really donT need Madza as core on 2025
onwards--With Anwar plan on Ron95, it is believe Bauto is serious trouble with gas power Car but management
fast turn-around on New core (EV) remarkable

1 week ago

Believe Mazda will continue to be well received in Malaysian market as their built quality and design is still above average compared to others Japanese car. The upcoming CX60 is superb but unfortunately the market share for Bermaz is shrinking due to fierce competitions from Chinese car and the more expensive pricing for it own new model.

1 week ago

Waller

Will hentam if Bauto falls through RM2

4 days ago

2 weeks ago I ask for special Dividend---Dream comes truth ---7sen

4 days ago

Wondering will they declare 2nd quarter dividend on the 12th December? Since this is a special dividend pay in advance

4 days ago

If another 3 sen dividend after QR announced minimum 10 sen can get in Dec? If EPS 6 sen like last QR and payout 100% total dividend become 13 sen?

3 days ago

dawchok

Very optimistic, I like it.

3 days ago

Indeed is a very attractive dividend from Bermaz. Hope their share price will appreciate also

3 days ago

If coming QR giving another dividend, share will not stay at this level . Who are those selling after 7 cents announcement ? What is their intention or do they knew somethings ? Selling below 2.10 only make sense for those bought over a year ago or just a month low ago.

3 days ago

I also want to know bro

3 days ago

Bermaz going to launch cx60 and cx80 in 2 more days at KLIMS. Both are really nice car but no longer at the affordable price like the cx5 and cx8. Hope it can sell well and grab some market share from BMW and Mercedez.

3 days ago

BAUTO bought 33mil EP Manufacturing at 0.60----what Bauto intention? To manufacture EV after acquired
some "night classes " from EP

3 days ago

Oh this they already mentioned in their previous announcement. They intention to acquire 11.3 percent of EPMB new share to broaden their earning and to assemble new EV car in EPMB new factory in Melaka. This new factory also going to assemble Haval car

3 days ago

futuressh

Very very potential. Bermaz will never sit and rot. Must be planning something big.

3 days ago

Bermaz has too much cash just like my other stock Kossan. If buy low and when above 60 sen make profit to sell like us stock traders why not?

SinGor

BAUTO bought 33mil EP Manufacturing at 0.60----what Bauto intention? To manufacture EV after acquired
some "night classes " from EP

15 hours ago

2 days ago

Excess money placed in bank FD earn 2.7% in 1 year. So if can earn even few sen from stock trading is more than FD why not?

2 days ago

Maybe management know EPMB potential plus already low price so Bermaz bought?

2 days ago

Bermaz Auto - Bags Distributorship for Deepal
Date:
2024-11-26
Firm:
KENANGA
Stock:
BAUTO
Price Target:
2.45
Price Call:
BUY
Last Price:
2.09
Upside/Downside:
+0.36 (17.22%)
BAUTO has been awarded the distributorship of Deepal EV vehicles in Malaysia. Deepal will take over the vacated Peugeot showroom in Glenmarie, Shah Alam. The first model to be introduce by 1QCY25 will be the Deepal S05 (compact SUV, RM100k to RM150k) and Deepal S07 (mid-size SUV, RM150k to RM200k), both expected to be competitively priced against BYD Dolphin and BYD Atto 3. The sales volumes will be insignificant during our forecast period. Hence, we maintain our forecasts, TP of RM2.45 and OUTPERFORM call.

Deepal EV distributorship. BAUTO has been awarded the distributorship, sale of spare parts and provision of after-sales services of Deepal brand electric vehicles (EVs) in Malaysia by Chongqing Changan Automobile Co. Ltd., China. Changan Automobile is one of the four major Chinese automobile groups in China, with 40 years of car manufacturing experience, and has 13 manufacturing bases and 34 vehicle and new powertrain plants worldwide.

Changan Automobile is currently constructing its first overseas production facility (costing about THB 8.8b) in Rayong, Thailand under Phase 1, with completion expected by early 2025 and will consist of painting, assembly, engine assembly, and battery assembly lines with a yearly production capacity of up to 100,000 vehicles For Phase 2, Changan Automobile plans to invest up to THB 20b for the establishment of a new energy vehicle production facility with a yearly production capacity of up to 200,000 vehicles, to cater for the ASEAN market region as well as for the right-hand drive global market.

Changan sold 250,832 vehicles (+4%) to mainland China customers as of October 2024 on which 85,272 units are new energy vehicles (NEV).

The sales were also boosted by the newly launched Deepal S05 SUV, selling over 10,000 units within the first 10 days of its release. The company has a number of self-owned brands, including Changan, Nevo, Deepal, and Avatr, as well as joint venture brands with Ford and Mazda. Aside from Malaysia, the Chinese carmaker also plans to sell right-hand-drive (RHD) vehicles to customers in Indonesia, Australia, New Zealand, South Africa, and the UK.

Impact on earnings. We estimate that the earnings impact of the latest development is negligible at <1%. The new distributorship requires minimum capex (probably less than RM2m), no volume commitment and will take over the showroom vacated by Peugeot in Glenmarie, Shah Alam. Its other brand, Xpeng is already occupying its other showroom next to Mazda Glenmarie. Given the crowded EV market with various new EV launches, we believe that at most it will only be able to sell at least 500 CBU units during the first year of operation. The models to be introduced (most likely by 1QCY25) will be the Deepal S05 (compact SUV, RM100k to RM150k) and Deepal S07 (mid-size SUV, RM150k to RM200k) are expected to be competitively priced against BYD Dolphin and BYD Atto 3.

Forecasts. Maintained as the sales volumes will be insignificant during our forecast period.

Valuations. We also maintain our TP at RM2.45 based on 10x CY25F PER, at a 1x multiple discounts to the sector's average forward PER of 11x to reflect higher earnings risk for mid-market auto players on subsidy rationalisation which will hurt their target customers, i.e. the middle-income group, the most. There is no adjustment to our TP based on ESG given a 3-star rating as appraised by us (see Page 4).

Investment case. We continue to like BAUTO for: (i) its strong near-term earnings visibility backed by an order backlog of 2k units for Mazda, and Kia vehicles, (ii) its premium mid-market Mazda brand that offers superior margins, and (iii) its attractive dividend yield of about 8%. The share price has declined 11% YTD, which we believe has been factored in with BAUTO now trading at 8.5x based on our FY25F EPS, which is cheap versus historical average of 11x and auto sector's average forward PER of 11x. Maintain OUTPERFORM.

Source: Kenanga Research - 26 Nov 2024

2 days ago

TP RM 2.45(by Kenanga) is most recent IB TP but RM 2.45 is lowest, can it be achieved?

2 days ago

Not sure whether this TP can be achieve because there are too many losing tickets from 2.67 till 2.10. Maybe lots of ppl wanted to cut loss or maybe cash out in this range

2 days ago

Is quite disappointed as the share price being selldown. It has been like this for 3 months plus

2 days ago

EngineeringProfit

Nice price. I am recollecting again.......hehe

8 hours ago