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1-13 of 13
waiting for 50% cross.
still good buy at $0.555
still good buy at $0.555
yes interested. waiting since May. waiting for offer document to submit shares and reach 50%. SGD0.57
Take over going on.
At Hkd 3.3..
But nobody interested?? To discuss about. It??
Willas-Array expects loss of HK$95.2 mil for 1HFY2024 in profit guidance
Electronics company Willas-Array BDR 0.00% says it expects to report a loss of some HK$95.2 million ($16.4 million) for its 1HFY2024 ended Sept 30.
This is compared with the company&rsquo s consolidated net profit of approximately HK$12.8 million for the same period last year.
Willas-Array says its expected consolidated net loss is mainly attributable to a decline in sales revenue as a result of the weak demand, strong inflation and continuous interest rate increases in 1HFY2024.
Severe price competition in the overall electronic components market also caused a decrease in the company&rsquo s gross margins and exerted pressure on product margins, while the increase in stock provision made for the slow-moving inventories to account for the slowdown of market demand in 1HFY2024 further contributed to losses.
During the half-year period, net impairment losses were recognised under expected credit loss on trade receivables compared to 1HFY2023 where no impairment losses were made.
Excluding the stock provision of approximately HK$37.0 million, net impairment losses of some HK$8.4 million and a net exchange loss of approximately HK$15.4 million, the adjusted loss attributable to owners of the company same to an estimated HK$34.5 million in 1HFY2024
Willas-Array expects to publish its half-year results on or before the end of November.
Willas-Array&rsquo s bet on growing its automotive segment pays off amid EV boom in China
THE global chip shortage and supply chain disruptions would have made last year a much rougher one for electronics distributor Willas-Array Electronics if not for a decision made more than a decade ago to grow its automotive business.
&ldquo Our company planned this segment more than 10 years ago because for the automotive industry, the entry barrier is high it&rsquo s not easy,&rdquo managing director Alvin Hon told The Business Times (BT).
The design cycle is long, due to safety-related issues, he said, adding that it takes about three to four years before one sees the fruits of an investment.
&ldquo So today, you can see my result, and actually, our investment, our resources, took about 10 years,&rdquo said Hon, who is based in Hong Kong. In that time, the automotive segment&rsquo s share of business has grown from 5 per cent to more than 20 per cent in the last financial year.
That investment decision appears to have paid off for the mainboard-listed company. In the financial year ended Mar 31, its automotive segment recorded an 11.7 per cent rise in revenue to HK$710.8 million. It was one of only two segments to see growth.
Overall revenue and net profit took a hit due in part to the global shortage of components. Revenue slipped 3.7 per cent year on year to HK$3.4 billion (S$624.6 million), while net profit came in 11 per cent lower at HK$82.2 million. Hon believes the company&rsquo s core business, however, did fine, and this was reflected by a slight 0.4 per cent increase in gross profit.
&ldquo But the problem is the disruption and a lot of chip shortage. We cannot get what we want or what all our customers want. So the volume dropped a little bit but because of this situation, our margin also sustained a little bit,&rdquo he said.
Willas-Array breaks its revenue into nine segments for reporting purposes. The largest three are industrial, automotive and home appliances &ndash at 29.5 per cent, 20.7 per cent, and 19.3 per cent, respectively, of total revenue. Segments that reported growth in FY22 were automotive and others.
Hon noted traditional internal combustion engine (ICE) cars began about five years ago to see an increase in features that required the use of electronic components, whereas the amount of electronic components required in an electric vehicle (EV) is a few multiples that of an ICE car.
This is why, he said, the demand for electronic components had been rising even if car production quantities stayed roughly the same.
Unique sector requirements
As a distributor, Hong Kong-headquartered Willas-Array does not have its own products, said Hon, but where the company adds value is by having its own engineering team, which works with component suppliers, module makers and carmakers, helping to design new functions for the car.
&ldquo After they accept the concept or the design, we&rsquo ll coordinate with the module makers and this can be supplied to the carmaker,&rdquo he said.
To grow this segment, the company poured resources into expanding its sales coverage in China &ndash working to build relationships with both carmakers and module makers. Its key customers include Chinese carmakers such as Xpeng, Changan Automobile, Great Wall Motor and GAC Group.
Internally, the company had to make adjustments to the way it operates as well.
&ldquo For the automotive industry, they have some requirements in the supply chain,&rdquo he said. &ldquo So they need to come to audit our logistics and warehouse, whether they can fit the automotive requirements. And even our finance finance for the automotive industry is quite different from others.&rdquo
Asked if the company prioritised the automotive segment over other segments during the global chip shortage, Hon said it was actually a priority area for the company&rsquo s suppliers as well.
&ldquo I can see which area they really want to support, and they put their capacity on which segment,&rdquo he said. &ldquo Even they believe it&rsquo s a good long-term segment for them to invest (in) and support.
&ldquo They believe that the consumer electronic cycle is shorter, but the automotive cycle is longer, the product life cycle is longer, and also the growth in this segment can continue.&rdquo
Reacting to ebbs and flows
Asked about the prospects for the company&rsquo s other segments, Hon said one factor to consider is the business cycle.
Factories in China, for instance, got more orders at the start of the Covid-19 pandemic, when most other countries were locked down. But such fortunes appear to have reversed, with Chinese factories now getting fewer orders as more countries reopen.
While the last year was characterised by a chip shortage that limited Willas-Array&rsquo s ability to fulfil customer demand, it seems winds of change now hint of a looming downturn &ndash with demand falling while inventory levels are high.
&ldquo For this type of cycle, probably I&rsquo m old enough to have experienced it many times,&rdquo Hon said.
Founded in 1981, the company has seen its fair share of up and down cycles. The Covid-19 pandemic has been no exception.
&ldquo I always say it is not a science, it is an art,&rdquo he said. &ldquo You cannot calculate. It just all depends on your company, whether you react fast. How to react fast when there&rsquo s change. If you&rsquo re the first one to react, then you can win the market. If you&rsquo re the last one to react, then you will die You&rsquo ll easily die because suddenly the demand disappears, then how are you going to manage?&rdquo
Apart from having risk management policies and good intra-company cooperation, Hon said survival also requires having a good relationship with suppliers, as well as reliable customers that the suppliers want to support, adding that this has helped the company maintain its top line.
Asked about the impact of China&rsquo s zero-Covid policy, since the bulk of Willas-Array&rsquo s business is on the mainland, Hon said travel restrictions have made it difficult for his team to travel for face-to-face discussions.
&ldquo Especially for our engineers, going to the customer&rsquo s place to do the design job, to discuss the design features or troubleshooting, it should be face-to-face,&rdquo he said, adding that he is considering having more people stationed in China.
Hon considers China&rsquo s Covid-19 policy to be an ongoing risk for in the next 12 months. This is alongside tensions between the United States and China, as well as the Russia-Ukraine war.
&ldquo Actually, the conflict in East Europe is not really a direct impact but it makes the market very abnormal,&rdquo he said. &ldquo It&rsquo ll hit the economy, so I think we&rsquo ll have to be very careful to look into this especially what happens to each of my customers.&rdquo
This is because some customers may benefit from the conflict, while others may be adversely affected, he said, adding that the company deals with more than 3,000 customers every month.
He believes US-China trade tensions are likely to worsen, which is in turn likely to affect China&rsquo s export business.
&ldquo Our focus is also to put more focus on domestic consumption in China, rather than export manufacturing,&rdquo he said. &ldquo A lot of my customers in automotive, industrial and home appliance (supply to the domestic market).&rdquo
Among them are local manufacturers, including home appliance makers Haier and Midea.
While the pivot to automotives was part of Willas-Array&rsquo s long-term plan a decade ago, Hon said the company is now banking on EVs and the trend of energy saving and carbon neutrality to be its main growth drivers in the near future.
&ldquo Even down to home appliances, they&rsquo re talking about energy saving,&rdquo Hon said. &ldquo If you need more energy saving, you need more features and functions, then you&rsquo ll need more electronics.&rdquo
The dividend is good final 33.0 + special 40.0 HK cents.= 73 HK cents.
Convert to S$ 12.0 cents (estimated).
MONDAY sure chiong.
Good luck to the shareholders.
Tks.
Convert to S$ 12.0 cents (estimated).
MONDAY sure chiong.
Good luck to the shareholders.
Tks.
FOR IMMEDIATE RELEASE
Willas-Array records FY2022 earnings of HK$82.2 million on
the back of HK$3,425.8 million in sales
Topline performance affected by impact of global shortage of semiconductor chips on
many of the Group?s segments and partially offset by double-digit revenue growth from
the Automotive segment.
Remains positive about industry prospects due to rising demand for components for
smart home appliances and consumer electronic devices, as well as higher electronic
content in vehicles.
Recommends final dividend of HK33.0 cents per ordinary share and special dividend of
HK40.0 cents per ordinary share for FY2022, subject to shareholders? approval...
https://links.sgx.com/1.0.0/corporate-announcements/7GVV16HKPMI1GJZV/719002_eWAE-20220527-Press%20Release.pdf
Willas-Array records FY2022 earnings of HK$82.2 million on
the back of HK$3,425.8 million in sales
Topline performance affected by impact of global shortage of semiconductor chips on
many of the Group?s segments and partially offset by double-digit revenue growth from
the Automotive segment.
Remains positive about industry prospects due to rising demand for components for
smart home appliances and consumer electronic devices, as well as higher electronic
content in vehicles.
Recommends final dividend of HK33.0 cents per ordinary share and special dividend of
HK40.0 cents per ordinary share for FY2022, subject to shareholders? approval...
https://links.sgx.com/1.0.0/corporate-announcements/7GVV16HKPMI1GJZV/719002_eWAE-20220527-Press%20Release.pdf
Very good results. Future also look promising. Dividen HK33 cents is around 6 spore cents.
Hope it can chiong coming Monday.
Tks.
Hope it can chiong coming Monday.
Tks.
Willas-Array reverses from losses to report FY21 earnings of HK$92.5 mil recommends final dividend of 33 HK cents
Willas-Array Electronics Holdings has reported earnings of HK$92.5 million ($15.8 million) for the FY2021 ended March, reversing from its losses of HK$72.6 million in the FY2020.
FY2021 revenue increased 12.1% y-o-y to HK$3.56 billion due to higher sales across its top three segments &ndash Industrial, Home Appliance and Automotive, which contributed to over 50% of the group&rsquo s total revenue.
The group&rsquo s Automotive segment registered the highest revenue growth at 31% y-o-y driven by the accelerated development of electric vehicles (EVs).
The segment also enjoys better economic and business policies as it has been identified by the Chinese government as a key driver of its growth.
The Industrial and Home Appliance segments benefitted from the new norms that emerged from the Covid-19 pandemic. The Industrial segment saw a 19.3% y-o-y growth, while the Home Appliance segment registered a 3.0% y-o-y growth.
Gross profit surged 61.8% y-o-y to HK$333.6 million on the back of higher gross margin (GPM), which rose from 6.5% to 9.4% in the FY2021.
The higher GPM was also due to higher revenue from the segments that required the group&rsquo s value-added services.
Other contributors include the significant decrease in clearance of buffer stocks and a reversal of stock provision over the FY2021.
&ldquo With the current focus on climate change, the need to achieve carbon neutrality through power saving and energy efficiency equipment, appliances, electronic goods and even electric vehicles has led to new applications being created for electronic components. The demand is very strong as can be seen from the global shortage in chips,&rdquo says Willas-Array&rsquo s chairman, Lawrence Leung.
&ldquo Willas-Array intends to capitalise on these trends and seize these opportunities. I believe we are in a strong position to do so given our longstanding supplier and customer partnerships and our track record for working closely with our partners to develop new applications that will achieve mutual goals,&rdquo he adds.
As at March 31, the group recorded a cash balance of HK$216.9 million.
Net gearing ratio stood at 39.6% as at March 31.
The group has recommended a final dividend of 33 HK cents per share for the FY2021, payable on Aug 27.
The group says it is cautiously optimistic that its main market in China will remain resilient and continue its strong recovery.
&ldquo Despite the positive outlook for our domestic China market, we are mindful that the Covid-19 situation remains fluid as some countries have experienced a resurgence and found new strains of the virus in spite of aggressive vaccination programmes. This could lead to a return to tighter movement control and partial lockdowns, which will in turn affect the global economy at large,&rdquo says Leung.
&ldquo As such, the group remains in belt tightening mode as we brace ourselves to weather the ongoing challenges brought on by the pandemic. We intend to continue building for a sustainable future by investing our resources into key growth sectors while ensuring that we have sufficient funds for working capital needs.&rdquo
Willas-Array reports 3Q21 earnings of $6.4 mil, marking third straight profitable quarter
Willas-Array Electronics (Holdings) has reported earnings of HK$37.3 million ($6.4 million) for the 3QFY2021 ended December, from losses of HK$4.5 million a year ago.
This is mainly due to higher gross profit due to an increase in revenue from the market segments that benefitted from the company&rsquo s services.
The earnings were also attributable to a decrease in clearance of buffer stocks compared to 3QFY2020, as well as a reversal of stock provision of HK$12.0 million in 3QFY2021.
In 3QFY2020, a stock provision of HK$18.8 million for slow-moving inventories was made.
This marks the third straight profitable quarter for the Mainboard-listed company.
For the 9MFY2021, Willas-Array posted earnings of HK$59.7 million from losses of HK$60.3 million in the corresponding period the year before.
Basic earnings per share (EPS) stood at 43.76 HK cents for the 3QFY2021 and 70.04 HK cents for the 9MFY2021, compared to loss per share of 5.29 cents in the 3QFY2020 and 70.80 cents in the 9MFY2020.
Revenue for the 3QFY2021 grew 24.8% y-o-y to HK$1.06 billion, driven by a strong double-digit growth from eight out of nine of the group&rsquo s market segments.
For the 9MFY2021, revenue was up 9% y-o-y to HK$2.75 billion.
Gross profit for the 3QFY2021 surged 54.9% y-o-y to HK$88.3 million, while gross profit for the 9MFY2021 was up 44.3% y-o-y to HK$225.4 million.
3QFY2021 gross profit margin (GPM) rose to 8.3% from 6.7% for the year, on higher sales from market segments and decrease in clearance of buffer stocks, as well as reversals of stock provision.
GPM for the 9MFY2021 was up to 8.2% from 6.2% previously.
The group says the sharp increase in sales of consumer electronic products and home office equipment came from the new norms of working from home and more consumers staying at home.
This strong demand was reflected in the revenue performance of the Group&rsquo s Home Appliance, EMS, Audio and Video and Lighting segments, which rose y-o-y in 9MFY2021 by 4.8%, 16.7%, 7.6% and 19.7%, respectively.
The series of economic and business support policies introduced by the Chinese government also served as a growth driver to spur strong domestic demand in the second half of 2020, lifting the performance of Willas-Array&rsquo s Industrial, Home Appliance and Automotive segments, says the group.
It adds that it expects the current trends and the new normal as well as the momentum of new product development to be sustained, which will lead to continuous growth in these market applications.
On that, the group says it is &ldquo cautiously confident&rdquo that its FY2021 performance will beat its performance in FY2020.
&ldquo Despite the positive outlook for our domestic China market, we are mindful that the global Covid-19 situation remains fluid. Despite the gradual rollout of Covid-19 vaccines, there are public concerns about the efficacy of these vaccines due to adverse reports about side effects,&rdquo says Willas-Array&rsquo s chairman Lawrence Leung.
&ldquo In addition, there appears to be a resurgence of the virus in certain countries and reports about new strains. Such challenges will continue to undermine the global economy and business environment as some countries have returned to lockdown mode and this will in turn have an impact on our industry.&rdquo
&ldquo &ldquo Furthermore, the ongoing tense relations between the US and China may continue to present challenges to trade between the two nations. Nevertheless, in view of the Chinese government&rsquo s economic and business support policies, the Group expects China&rsquo s economy to be resilient with great potential for growth,&rdquo Leung adds.
Hi,
I am a newbie and trying to learn more abt dividend payout etc, googled alot and found this stock too.
Just want to check if my understanding is correct.
Willas-Array upcoming dividend ex date is 9th Aug, I got to buy their stocks before this date to qualify for the payout on 28th Aug.
And they have a special payout of 1 stock per 10 stock i hold on the same exdate and payout date.
And the payout is $0.42/stock
Please guide me, thank you!
I am a newbie and trying to learn more abt dividend payout etc, googled alot and found this stock too.
Just want to check if my understanding is correct.
Willas-Array upcoming dividend ex date is 9th Aug, I got to buy their stocks before this date to qualify for the payout on 28th Aug.
And they have a special payout of 1 stock per 10 stock i hold on the same exdate and payout date.
And the payout is $0.42/stock
Please guide me, thank you!
yes, low p/e of less than 5, dividend yield of more than 6% and now with bonus share, catch this gem before it flies!
lesgha ( Date: 31-May-2018 09:27) Posted:
|
Good news. Company just posted best final results and proposing 1 for 10 bouns issue and HK$0.42cents per share.