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Yongmao Holdings raises $4.41 million from 3-month digital securities commercial paper
Crane operator Yongmao Holdings has raised $4.41 million from its 3-month Series 002 SDAX Issuance, as part of its $20 million multicurrency multi-tranche unsecured commercial paper facility programme in digital securities.
The digital securities to be issued by Yongmao, named 3-month Series 002 SDAX Tokens, will be issued on the SDAX platform on Jan 14.
Among the subscribers for the 3-month Series 002 SDAX Tokens, 15.19% or $670,000 was subscribed by a certain executive director and independent directors of the company.
A later bourse filing revealed that independent director Hoon Chee Wai who was previously director of Yongmao, redeemed 40 tokens which aggregates to a principal amuont of $400,000.
Yongmao Holdings issues profit warning for 2HFY2022 ended March 31
Crane and industrial machinery maker Yongmao Holdings warns that earnings for its 2HFY2022 ended March is likely to be &ldquo significantly lower&rdquo versus 2HFY2021 because of softer business conditions in China and fair value loss.
&ldquo The decline in net profits is due to lower revenue in China in light of the supply chain bottlenecks, a lacklustre property market and Covid-19 outbreak,&rdquo states the company on May 22.
&ldquo Land transportation and sea freight in China had increased significantly during the period under review due to supply shortage,&rdquo the company adds.
Yongmao says that it is expected to book a &ldquo significant&rdquo fair value loss on its financial assets, which might lead to a total comprehensive loss attributable to shareholders for 2H FY2022.
The company is expected to report its FY2022 before May 30 2022. It expects to remain profitable for the full year.
Yongmao posts earnings of RMB54.9 mil for FY2021
Crane operator Yongmao Holdings has posted earnings of RMB30 million ($6.2 million) for the 2HFY2021 ended March, 258.5% higher than earnings of RMB8.4 million in the 2HFY2020.
Earnings for the FY2021 stood RMB54.9 million, 8.1% lower than earnings of RMB59.7 million.
Revenue in China increased by RMB197.8 million in the same period, while sales in China and Asia contributed to 53.5% and 35.0% of the group&rsquo s 2HFY2021 revenue.
Earnings per share (EPS) for the 2HFY2021 and FY2021 stood at 33.77 RMB cents and 61.81 RMB cents respectively.
A first and final dividend of 1 cent per share was declared for the FY2021.
As at end-March, cash and cash equivalents stood at RMB66.3 million.
Crane builder Yongmao expects ' significantly' lower net profit on lower revenue in China
MAINBOARD-LISTED crane manufacturer Yongmao Holdings on Monday guided for a " significantly lower" net profit for the second half of the financial year ended March 31, 2020 (FY2020), compared with the same period last year.
The decline in net profit is due to lower revenue in China, in light of the national lockdown to combat the Covid-19 pandemic in the first few months of 2020, the China-based firm said in a profit-guidance note.
In addition, due to the consolidation of Beijing Yongmao&rsquo s plant with Fushun, the group recorded a one-off obsolescence stocks adjustment and write-off, as well as higher cost of goods sold in the second half of FY2020 to adjust for an undercharge of goods sold in the first half.
Amid the virus outbreak, strict government containment measures were first implemented in China, where the firm' s major production plants operate. These measures were subsequently extended globally, in many instances resulting in full or partial national lockdowns, said Yongmao.
https://www.businesstimes.com.sg/companies-markets/crane-builder-yongmao-expects-significantly-lower-net-profit-on-lower-revenue-in
This counter up xiong
some action today after appear in Edge this wk.
Yongmao 3QFY14 net profit spiked up 491.4% y/y to Rmb12.3m while revenue climbed 8.9% to Rmb198.5m mainly from improvement in Asia (outside the PRC) and USA & Europe sales by 38% and 565% respectively from stronger demand. This was offset by lower sales from China (-12%) on lower demand. Gross margins improved from 24.8% to 32.9% mainly due to higher sales of the higher margin luffing series towercranes. While expenses increased overall, the aforementioned lifted the towercrane manufacturer?s bottomline significantly. Management expects greater demand for towercranes in SEA, especially markets like Malaysia and new markets like Myanmar to improve on increased construction activities. Export demand to US and European countries is also likely to improve in tandem with their economies. To mitigate margin pressures due to appreciating CNY, price adjustments may be possible. NAV as at end Dec was Rmb1.1689, translating to a P/B of ~0.8x
nothing special. just got stuck with this counter.
founder abt 57%, Tat Hong 25% free flow quite
low. Its profitable coy and there is potential to
be delist,
Bro Derek, you are with this thread since 2008. Are you able to share the insight of this counter that keep your interest going for years? Thanks.
looking at the chart, something brewing.
price moving steadily,only waiting for vol. to catch up.
and punters will join in the play.
you only need to hold 600 lots to be in the
top 20 highest shareholders of the coy.
after a long rest,
some trading in the last few days.
good signs.