Market Brief

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Author

余家訓先生(Kelvin Yu)
助理經理

現任職輝立助理經理,2011年完成ERP(Energy Risk Professional)考試。對投資股票、期權經驗豐富。 本人樂意為客戶提供投資分析及買賣策略。歡迎各位來電交流心得。
Phone:
2277 6669

麗年國際控股有限公司 (9918)

Wednesday, December 30, 2020 Views4213

麗年國際控股有限公司具備十年以上的電子產品設計及生產經驗的知名香港上市公司。

麗年為醫療、保健、暖通空調系統 (HVAC) 、工業和家電領域的公司提供專業電子專業製造服務 (EMS)。近年亦開始為客戶提供創新的IoT終端設備解決方案,幫助客戶實現業務和運營目標。

 

截至 2020630日止六個月 :

 

集團於2020年上半年的收益為283.1百萬港元,較去年同期減少244.5百萬港元或46.3%。

 

此乃主要由於新型冠狀病毒(「COVID-19」)流行病影響了中國、美國、英國、歐盟及世界其他主要國家等多個國家(即集團的主要客戶及供應商之所在國家)。該等國家已採取封關、禁止非必要旅行及其他防疫政策等措施,因此,部分客戶及供應商的日常營運受到不利影響,進而導致(i)部分產品交付延遲;(ii)進一步延長材料的交貨時間;及(iii)中斷物流和供應鏈。此外,全球經濟放緩亦對集團產品的需求造成不利影響。

 

按地理位置(基於交付位置釐定)劃分的收益如下:

愛爾蘭的銷售額大幅增加乃 主要由於其中一名主要客戶的分銷策略改 變,由歐洲其他國家轉移至愛爾蘭。

 

 

 

業務前景

 

集團將繼續致力於開發及擴展新產品的應用及類別,如保健和醫療產品以及供工商應用的物聯網(「物聯網」)連接設備。預期在2020年下半年開始新產品的開發程序,並於2021年付運。

 

誠如日期為2020年3月27日的全年業績公佈所披露,集團擬與潛在合營夥伴於東南亞地區設立生產設施(「亞洲新廠房」),以於中國境外擴展產能。由於COVID-19流行病導致的封鎖及中斷,談判進度放緩,亞洲新廠房的設立亦將延至2020年下半年,集團預期亞洲新廠房將於 2021年上半年開始運營。此時間表受多項因素而定,如與潛在合營夥伴的談判進度以及因 COVID-19流行病而可能導致的業務及營運中斷。

 

估值

 

公司屬較小型服務於消費類EMS行業 , 新冠疫情令到市民改變消費習慣, 或增加消費類EMS行業的投資。麗年國際近年開始有醫療和物聯網相關的產品, 緊隨大中華市場的需要, 有機會隨着疫情消退, 業績反彈。

 

集團於今年1月初上市,上市接近一年, 股價由高位HKD0.275回落, 股價最低見HKD0.086元, 近幾個月多在HKD0.1附近徘徊可考慮於HKD0.09元附近買入,目標價為HKD0.13元,止蝕價為HKD0.081元。

 

 

 

資料來源:

  1. 2020 年中期業績公告

 

註:本人余家訓為證監會持牌人士。截至本評論文章發表日止,本人及/或其有聯繫者並無持有全部提及之証券的所有相關財務權益。」;

 

Or

" I, Yu Ka Fan, am a licensed person under the Securities and Futures Commission.
Until the date this commentary was published, neither I and/or my affiliates are the beneficiary of the securities mentioned herein or are entitled to any financial interests in relation thereto."

This report is produced and is being distributed in Hong Kong by Phillip Securities Group with the Securities and Futures Commission (“SFC”) licence under Phillip Securities (HK) LTD and/ or Phillip Commodities (HK) LTD (“Phillip”). Information contained herein is based on sources that Phillip believed to be accurate. Phillip does not bear responsibility for any loss occasioned by reliance placed upon the contents hereof. The information is for informative purposes only and is not intended to or create/induce the creation of any binding legal relations. The information provided do not constitute investment advice, solicitation, purchase or sell any investment product(s). Investments are subject to investment risks including possible loss of the principal amount invested. You should refer to your Financial Advisor for investment advice based on your investment experience, financial situation, any of your particular needs and risk preference. For details of different product's risks, please visit the Risk Disclosures Statement on http://www.phillip.com.hk. Phillip (or employees) may have positions/ interests in relevant investment products. Phillip (or one of its affiliates) may from time to time provide services for, or solicit services or other business from, any company mentioned in this report. The above information is owned by Phillip and protected by copyright and intellectual property Laws. It may not be reproduced, distributed or published for any purpose without prior written consent from Phillip.
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