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AEM Holdings
15-09-2018, 11:00 PM.
Post: #61
RE: AEM Holdings
Hi Kaimin,

The answer is simple, they struck gold in their new product. Secondly the semi conductor industry they are in grew a lot over the past 2 years due to the demand of chips as well as the cryptocurrency boom that created demand for mining rigs, which needed "heavy duty" graphics card.

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16-09-2018, 07:27 AM.
Post: #62
RE: AEM Holdings
(15-09-2018, 08:18 PM)Kaimin Wrote: How was it possible for AEM to increase revenue and profit (150 mil and 30 mil respectively) with such a small amount and small increase in PP&E? They had 3.6 million in PP&E in 2017. That's a return on capital of hundreds of percent! And even in percentage terms - PP&E increased by 63%, revenue and profits by hundreds of percent!

AEM's main customer is Intel, whose sales are mainly from PC and Data Center chips. AEM co-developed a new test handler with Intel that is superior than existing market products, resulting in AEM being the sole supplier for Intel's test handlers. This explains AEM revenue growth from its trough.

As for being asset-light, this is a characteristic of semicon capital equipment OEMs. They rely more on manpower than that of PP&E. If you noticed, AEM's staff costs doubled from 2016 to 2017 (although 25% of staff costs is due to bonus). My guess is, AEM outsource more parts and rely more on their proprietary technology to generate sales.

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25-07-2019, 07:51 PM.
Post: #63
RE: AEM Holdings
Sales Orders Received and Financial Guidance for FY2019

The Company announced that as of 25 July 2019, it has received sales orders worth S$255 million for delivery in FY2019. In terms of financial guidance for FY2019, management is revising upwards the revenue range to be between S$265 million and S$280 million, and our CAPEX range remains at S$4 million to S$7 million.
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06-11-2019, 10:19 PM.
Post: #64
RE: AEM Holdings
Exited last Friday @ 1.48. Today @ 1.76.

There are daily acquisitions from Morgan Stanley, MUFG, UBS etc. Is there a concerted attempt by a third party using these as proxies?
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