Micro-Mechanics (Holdings)

[chialc88]

Good morning valuebuddies,
FY18 result will be announcing on 25th Aug 2018
link

Other than the usual dividend, profits, cashflow...
sales breakdown for FY18 especially the growing trends in FY18 should be the focus for us.




Enjoy:

[cyclone]

Micro-Mechanics Delivers Record Results for FY2018

Highlights :
1. For the 12 months ended 30 June 2018 (FY2018), the Group reported record revenue of S$65.1 million, an increase of 13.8% from S$57.2 million in FY2017
2. In FY2018, sales in China increased 21% to S$18.0 million to remain as the Group’s largest market with 27% of revenue
3. Net profit rose 16.1% to S$17.1 million on revenue growth of 13.8% to S$65.1 million
4. The Group generated net cash from operations of S$22.4 million in FY2018 (S$18.1 million in FY2017)
5. Sound balance sheet with cash of S$21.1 million and zero debt
6. Raises total dividends to 10 cents per share for FY2018 from 8 cents per share in FY2017
7. Proposes final dividend of 5 cents per share and special dividend of 1 cent per share.

More details in :
1. http://infopub.sgx.com/FileOpen/MMH-SGXn...eID=522780
2. http://infopub.sgx.com/FileOpen/MMH-FY20...eID=522781

[chialc88]

Good morning, valuebuddies.
Wish everyone a nice and fruitful investment journey in vb.com.

Some updates:
1. For those who is thinking of dividend, take note that xd for 6 cents is 2nd Nov and payday is 20 Nov.
2. For those vivid reader who is capable of swallowing Annual Report in less than a day,
    take note that the AR should be out within these 2 weeks.
3. Of all the things, I love to look at the Shareholders; a bit of following the guru strategy.
    For example, in the case of MM, Yeo Seng Chong's is listed in the AR.
    This gives me a confirmation that MM must have passed his investment criteria at that point in time.
    If he sold out his holding, then, that might be an opposite indicator for me too.
4. Another reason is MM is an illiquid share.
    Anyone starts to accumulate will move it's share price up quickly and vice-versa too.

#1 Tan Eng Yam @ Tan Eng Ann 
He had been buying MM consistently, years after years.
At 3,520,300, I ranked him as the top shareholder for MM.

#2 Lam Yen Yong
Similar to Tan, Lam Yen Yong had been consistently buying MM (delta: 620,000) until last year.
Last year, he sold all his 620,000 shares accumulated all these years.
Nonetheless, at 2,191,000, I ranked him as the #2.

#3 will be our favourite valuebuddy Yeo Seng Chong at 1,050,500.
Again, steadily increasing his MM holding.
A small note, last year, he sold 25,000 shares.
I'm very keen to see what happen in FY18 AR.

Last but not least, a dark horse.
Tan Boon Khak holding @ 1,230,500
An amazing feats, if it's collected in one year.
Let's not forget that Micro Mechanics was a penny stocks.
It might be Tan Boon Khak holding that propel its stock price to its current level.

In any case, I hope every one of our valuebuddies is vested in Micro Mechanics.
And, I wish that all will have a excellent chance to learn how a company is build to last!

[chialc88]

AR released on Friday lunch time.
#1. Valuebuddies Yeo Seng Chong disappeared from the top 20 shareholders listing.
     One possibility is he sold his shares in FY18.
     Another possibility (I hope) is that he transfer his MM share to Citi.

#2. Semiconductor industry is poised for a prolonged period of solid growth 
     as chips are becoming increasingly embedded in nearly every aspect of modern life,
     from today’s smart phones to tomorrow’s driverless cars.
     Hence, the key to the Group’s success lies in our continuing ability to seize long-term opportunities and
     correctly identify the initiatives and investments that bring value to our customers.

#3. The landscape is more challenging due to the ever-changing nature and
     increasingly stringent demands of the semiconductor industry,
     we believe these requirements play well to our technical, financial and managerial strengths 
     and our focus on building stakeholder value that is sustainable.

Relaxing and enjoying:

[chialc88]

22 Oct 2018 - 3 announcement today
link
#1 Intereested Person Transaction
Agreement Between Micro-Mechanics, Inc And Sarcadia LLC On The
Payment of Electrical Services Provided To The Premises Known As 
465 Woodview Avenue, Morgan Hill, Country of Santa Clara, State of California

Sarcadia owns a solar system which  will generate electrical energy for use at the Premises. 
Under the Addendum to Lease, MMUS agrees to pay Sarcadia for electrical services and billing is  expected to commence in October 2018 after the utility company, Pacific Gas & Electric completes the  hook‐up and monitoring of the solar system.  The rates to be charged by Sarcadia will be 10% less than  the rates charged by Pacific Gas & Electric for a given billing period.  

#2 Date of Release of Financial Results "1Q19" ended 30 Sept 2018
on 29 Oct 2018  - same date as AGM

[chialc88]

Micro-Mechanics Posts Net Profit of S$4.5 M on Revenue of S$16.9 M in 1Q19
 1Q19 marked the Group’s highest quarterly results since its record performance in 1Q18
 1Q19 revenue rose 7.7% qoq while net profit increased 13.9% qoq from 4Q18
 Gross profit margin in 1Q19 steady at 59.5%
 Sound financial position with cash of S$23.9 million and zero debt

Chris:
"For our recent projects, we are seeing a pattern where longer and more costly development cycles are
required to meet the ever-changing nature and increasingly stringent demands of the semiconductor
industry. We believe this is becoming the norm as the chip industry moves below 10 nano device
geometries and into increasingly difficult processing methods.

Although these requirements make the landscape more challenging, we believe they play well to MicroMechanics’
technical, financial and managerial strengths and our focus on building stakeholder value that is sustainable,”
link

[Ray168]

Micro-Mechanics Posts Net Profit of S$4.5 M on Revenue of S$16.9 M in 1Q19
 1Q19 marked the Group’s highest quarterly results since its record performance in 1Q18
 1Q19 revenue rose 7.7% qoq while net profit increased 13.9% qoq from 4Q18
 Gross profit margin in 1Q19 steady at 59.5%
 Sound financial position with cash of S$23.9 million and zero debt

Chris:
"For our recent projects, we are seeing a pattern where longer and more costly development cycles are
required to meet the ever-changing nature and increasingly stringent demands of the semiconductor
industry. We believe this is becoming the norm as the chip industry moves below 10 nano device
geometries and into increasingly difficult processing methods.

Although these requirements make the landscape more challenging, we believe they play well to MicroMechanics’
technical, financial and managerial strengths and our focus on building stakeholder value that is sustainable,”
link

For the three months ended 30 September 2018 (1Q19), the Group reported revenue of S$16.9 million. This was a
decline of 4.6% from S$17.7 million in 1Q18, which marked our highest ever quarterly revenue, due mainly to
lower sales contribution from the Singapore and Malaysia markets.

On a quarter-on-quarter (qoq) basis, however, Group revenue in 1Q19 increased 7.7% from S$15.7 million in
4Q18 due mainly to higher sales in the majority of our geographical markets, particularly in China and Malaysia.

[smallcaps]

More on the solar system in morgan hill, an interview with CEO:

https://citigreeninc.com/portfolio_item/...-occupied/
https://www.youtube.com/watch?v=17-nNM1z0KQ

[chialc88]

Q2'19 Result out with all numbers dropped.

Dividend is still 4cents.
xd 4th Feb 2019
pay on 18th Feb 2019

My view is the same as what Chris mentioned.

Have fun reading: Q2'19 Result of Micro Mechanics 美科精微



MM is in a cyclical industry.
Short term volatility is expected.
Longer term, MM should be growing due to increasing application of technology into daily life of everyone on earth.

Take a closer look at MM's GPM, bad debt and inventory writeoff.

[chialc88]

For the proud owner of Micro Mechanics,
take a look at what you're buying:
Micro-Mechanics-Inc @ Silicon Valley