InnoTek

[mslee888]

Investment properties + other investment + cash & short term deposit  = 97m

(Outstanding shares - treasury shares ) x 0.440 = 99.5m

of which "other investment + cash & short term deposit"
56.5m cash
13.9m investment


I gotten all these figures & info from latest result & annual report.

Got it, thanks.
I actually remove investment properties from my calculations....nevertheless, Innotek is indeed attractive.

Vested.

[MOV]

Innotek management had given 2 important updates to shareholders since the start of Covid-19 pandemic:

• Business update on 19 April - brief financial performance of 1QFY2020 ended 31 March which shows a revenue decrease of 23.4% to $33.9m and small loss of $1.0m.
  
• AGM Q&A release on 2 June - release of shareholder's questions and company responses for AGM to be held on 3 June 2020 as well as presentation slides.
  

While its business have taken a hard hit and outllook seems gloomy, a few positives for loyal shareholders can be gleened from the slides:

• the solid operational efficiency of the company has mitigated the loss due to the unprecedented drop in revenue. One can appreciate the improvements implemented by CEO Mr Lou over the past several years. Despite stringent lockdown of Wuhan since 23 Jan to late April and various work stoppages in Dongguan/Suzhou, achieving this level of revenue is indeed remarkable.
  
• the outlook for TV bezels above 55 inches is stable and automotive components production is moving into mass production stage and recovering. Company is also moving into assembly of OA components to mitigate slowdown in components revenue.
  
• financial strength - although Innotek did not release its unaudited balance sheet, based on FY2019, net cash per share stands at $0.31, with no debt. Including its properties, total net cash + property = $0.44.
  

At current share price of 37 cents and NAV of 71 cents (FY2019), Innotek is indeed trading below its net tangible assets of cash and property, with no value attributed to its existing business!

Looking forward to AGM tomorrow and sweet dividends 1.5 cents!

[TerryT]

There's a smal part of a commentary on ST, written by Ven Sreenivasan mentioned Innotek,"The company is run by a brilliant chief executive, Mr Lou YiLiang..."


Write up from CIMB thus the rise of volume last week. (think Investors only saw the TARGET PRICE but not the few "potential headwind" stated in the report)   


https://research.sginvestors.io/2020/06/...06-10.html

[MOV]

Innotek just released a seemingly dour set of HY2020 results with revenue of $79.7m (2019: $89.3m) and NPAT of $3.73m (2019: $7.73m).

HOWEVER, if you break it down quarter on quarter..........

Q1: Revenue $33.9m, NPAT -$1.05m (2019: Revenue $44.2m, NPAT $3.89m)   
Q2: Revenue $45.8m, NPAT $4.78m (2019: Revenue $45.1m, NPAT $3.84m)

An impressive turnaround with increase in both revenue and profit for Q2 compared to Q1, even exceeding last year's Q2 results.

Going forward, next few quarters should see stable contributions from TV segment, improvements in Auto and hopefully recovery in OA.

With cash of $73m and investment property valued at $28m and no debt, you have assets in excess of $100m with the business for free!!

[Chiefdododetective]

Innotek just released a seemingly dour set of HY2020 results with revenue of $79.7m (2019: $89.3m) and NPAT of $3.73m (2019: $7.73m).

HOWEVER, if you break it down quarter on quarter..........

Q1: Revenue $33.9m, NPAT -$1.05m (2019: Revenue $44.2m, NPAT $3.89m)   
Q2: Revenue $45.8m, NPAT $4.78m (2019: Revenue $45.1m, NPAT $3.84m)

An impressive turnaround with increase in both revenue and profit for Q2 compared to Q1, even exceeding last year's Q2 results.

Going forward, next few quarters should see stable contributions from TV segment, improvements in Auto and hopefully recovery in OA.

With cash of $73m and investment property valued at $28m and no debt, you have assets in excess of $100m with the business for free!!

You are right. If they could maintain the same EPS of 2.11c in Q2, then their full year EPS could be 5.8c. With current share price of 40c and cash of $73m, ex-cash PE would be 1.3. Beyond undervalued.

[MOV]

Innotek had changed their reporting from quarterly to semi-annually. Despite a lack of news on its 3Q results, market has started to notice this gem and bid up its price for the past few weeks, in tandem with broad market recovery. 

Interestingly, UOBKH has also initiated a new report on Innotek calling for a target price of 82 cts, which is only slightly above its book value of 72cts as of HY2020, an undemanding valuation.

https://www.theedgesingapore.com/capital...nd-high-tv

[¯|_(ツ)_/¯]

InnoTek
Mansfield Manufacturing Company Limited, Hong Kong and its subsidiaries in the PRC (“Mansfield Grouo”) recently had a cybersecurity incident where its IT network was unlawfully accessed by cyber criminals and its system encrypted by a virus. According to preliminary report, such viruses are rampant and many large companies in China and overseas had been attacked. Investigation into the incident are ongoing and police report had been lodged.

At this point, the threat has been contained and most of its data had been recovered, file systems decrypted and minimal recovery work in progress. Reconstruction work has been completed and business activities operational. The Company’s IT network in Singapore has not been compromised.

The Company takes information security seriously. The Company and Mansfield management attach great importance to its cybersecurity and are conducting a rigorous review of the incident and its systems to ensure that the data in its possession remains safe and secure. The Company continues to improve and strengthen its overall cybersecurity framework.

Upon discovering the incident, Mansfield Group took immediate action, engaged various third- party forensic advisors to assist with the investigation and carried out intensive recovery works with the help of its internal IT team. The appropriate law enforcement authorities and security bureaus in Hong Kong and the PRC were promptly notified.
https://links.sgx.com/FileOpen/Ann%20on%...eID=645330

Stay home and stay healthy, everyone.

[¯|_(ツ)_/¯]

innotek@92
https://links.sgx.com/FileOpen/1H21annou...eID=678590

https://drive.google.com/open?id=1ZLyQ5E..._vVepViva9
Stay home and stay safe, everyone.

[CY09]

Due to higher cost inputs, Innotek's margin has turned negative. I wonder if this is due to the company's lack of pricing power. China's PPI has not gone up a lot (+3%) which means factories are charging about the same rate. With higher cost of production, it eats into their margin as seen by Innotek's results.

https://links.sgx.com/FileOpen/InnoTek%2...eID=728558