Nanofilm

[weijian]

This is definitely a refreshing change. Since Temasek is the majority owner, can't really deny its influence on the decision to list in Singapore.


Nanofilm IPO shares priced at S$2.59; subscribed 19 times

NANOFILM Technologies, the spin-off company of Nanyang Technological University (NTU), on Friday lodged its final prospectus, offering 77.2 million shares at S$2.59 each for placement in its initial public offering (IPO).
Including the sale of 104.3 million cornerstone shares, the company will raise gross proceeds of S$470.1 million. Only S$190.9 million of these proceeds, however, will go to the company.

https://www.businesstimes.com.sg/compani...d-19-times

[weijian]

Demand is decent for a ~2bil post IPO cap company on the SGX.

NANOFILM TECHNOLOGIES INTERNATIONAL LIMITED RECEIVES STRONG DEMAND FOR IPO

At the close of the Singapore Public Offer at 12.00 noon on 28 October 2020, there were 8,6781 valid applications for the 3,861,900 Public Offer Shares. These applicants applied for an aggregate of 118,028,4001 Public Offer Shares, with application monies received amounting to approximately S$305.7 million, which translates to the Singapore Public Offer being approximately 30.6 times subscribed.

https://links.sgx.com/FileOpen/Nanofilm_...eID=637112

[Rocinante2]

Demand is decent for a ~2bil post IPO cap company on the SGX.

NANOFILM TECHNOLOGIES INTERNATIONAL LIMITED RECEIVES STRONG DEMAND FOR IPO

At the close of the Singapore Public Offer at 12.00 noon on 28 October 2020, there were 8,6781 valid applications for the 3,861,900 Public Offer Shares. These applicants applied for an aggregate of 118,028,4001 Public Offer Shares, with application monies received amounting to approximately S$305.7 million, which translates to the Singapore Public Offer being approximately 30.6 times subscribed.

https://links.sgx.com/FileOpen/Nanofilm_...eID=637112

Plasma is an art... you can have his paper and still dunno how to do it... math is correct but where are the atom, hows the pressure etc.. 

very advance tech but question is where do we need it? Too advance for now?

Still if Venture can trade at FY20/21 PE 18/15x... Nanofilm with such high tech should trade much higher... assume PE30x then move into FY21 PE 30x => S$ 3.60... 20% more to go if existing earning estimate come true...

What is there are some new project announcement... wala... thats the option value you get.

[Rocinante2]

Nano stock price move up mainly driven by analyst report. The first one i think is UOB 26 Nov 2020 follow by CIMB on 11 Dec 2020. I think these two brokers have quiet some retail trading volume. Not this stock is about PE 30x... Bloomberg show you 35x right? because some silly sell side analyst peg their cost to % of sales while we all know that cost don't necessarily go up that way, your secretary and tea lady don't get paid % of sales. Now the question is can Nano delivery any good news in result or new biz project to propel the stock further from here. PE 30x is fair la.... they got some tech after all. Don't compare it to Venture which is just EMS.

[Rocinante2]

Nano stock price move up mainly driven by analyst report. The first one i think is UOB 26 Nov 2020 follow by CIMB on 11 Dec 2020. I think these two brokers have quiet some retail trading volume. Not this stock is about PE 30x... Bloomberg show you 35x right? because some silly sell side analyst peg their cost to % of sales while we all know that cost don't necessarily go up that way, your secretary and tea lady don't get paid % of sales. Now the question is can Nano delivery any good news in result or new biz project to propel the stock further from here. PE 30x is fair la.... they got some tech after all. Don't compare it to Venture which is just EMS.

ok... i was just told by my friend that PE 30x is too low. Specialty chemical company in US are trading at PE 50x. Hence maybe still a long way to go for NANO SP.

[weijian]

I searched "deep-tech" and found this word appearing 6x in the commentary section of the financial report, 6x in the PR and 4x in the presentation. So the word "deep-tech" has been mentioned 16x in a single financial event. It seems like the Chairman and his team are quite afraid that their investors will forget that they are a "deep tech company". 

1H22 results: https://irp.cdn-website.com/4bba509c/fil...11%20F.pdf
1H22 PR: https://irp.cdn-website.com/4bba509c/fil...s%20MR.pdf
1H22 ppt: https://irp.cdn-website.com/4bba509c/fil...tation.pdf

[dreamybear]

According to the business outlook, seems like 2H2023 will be better.

Nanofilm continues to steadily execute its growth strategy amidst a soft 1Q2023
https://links.sgx.com/FileOpen/Nanofilm%...eID=755032

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Nanofilm posts 40% fall in Q1 revenue on cyclical reasons, slow China reopening
https://www.businesstimes.com.sg/compani...-reopening

[weijian]

From a high of ~6.20sgd back in July2021 (less than 1 year after its Oct2020 IPO at 2.59sgd), the share price of Nanofilm has dropped ~80-85% to current ~1sgd levels. Mr Market's re-rating of the company is similar to that of the many growth stocks of 2021. It has also recorded a net profit loss in 1H23 with "not so much certainty" of a recovery in the 2H23..

Nanofilm records fall in 1H2023 revenue to S$73.2 million due to seasonality and a soft consumer electronics market

- Net PATMI loss of S$7.6 million primarily due to lower sales, as well as continued incurrence of expenses related to strategic initiatives to drive future growth

- A potential rebound in consumer demand with ongoing cost-cutting measures is expected to benefit Nanofilm in 2H2023

1H23 PR: https://links.sgx.com/FileOpen/Nanofilm%...eID=768523
1H23 results: https://links.sgx.com/FileOpen/Nanofilm%...eID=768522

[CY09]

Nanofilm is a reflection of China's manufacturing. As of now, PMI numbers for manufacturing is showing continued decline and so too will Nanofilm's business

With China's domestic demand shirnking due to the locals not being confident of their economy and their government, internal demand is weak. International manufacturers are also leaving china to move to countries such as Vietnam as means of diversification and cheaper unit labour cost.

Maybe nanofilm might need to consider expansion into Vietnam/Thailand to continue to be part of the manufacturing supply chain