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waikiat
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Posting #41: Mon Jun 23rd, 2008 10:13 |
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say... how do u attach a file to a reply??? any idea???
Attachment: china coke price.jpg (Downloaded 47 times) Last edited on Tue Jun 24th, 2008 16:23 by Moolah
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Moolah
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Posting #42: Tue Jun 24th, 2008 16:31 |
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Waikiat,
loaded... many thanks for sharing those info!
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waikiat
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Posting #43: Tue Jun 24th, 2008 16:34 |
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oh not a problem, if i m not mistaken HUAAN's operating province is in Linyi....
anybody have the link to the current coking coal price for China market??
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James Bull
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Posting #44: Wed Jun 25th, 2008 04:51 |
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waikiat wrote: it clearly shows that the increase in the coal price is too fast for the company. whenever they revise their coke price, the coal starts to surge again. the company has been adapting in reviewing their coke price on a weekly basis, but not good enuf. thus, the difference of the selling price...
but the so called gem here is clearly the "additional" contribution from their new plant. but will have to wait till the 3rd qtr for the results. will it be too late then? or will it be a clear dissappointment?
their margins dropped from 21% (3Q07) to 19% (4Q07) to 15% (1Q08)... tho with the substantial increase in their selling price, there is still a drop in their margins, so with all the news clipping saying their ability to transfer the additional cost to their customers is not working... also the crude oil surge is not helping too...
for a company like HUAAN, they do not have to worry no one is buying their products coz an agreement is made every year on the contractual quantity they have to provide to their clients. just tat the selling price will depends on the current spot price...
so i believe the company will be profitable but not many will like the margin squeeze... for me, its a YES! what i hope to see is HUAAN to get back to the region of 18-20% for their margins (which is quite a task). also, i believe an EPS of 15-17c is achievable for 2008...
Their gross profit margin was quite sustainable at 18-20% every quarter therefore I believe what their claimed on ability to transfer the addtional cost was true.
Judging from their coal & coke price slope, I believe they will not have significant gross profit margin squeeze in 2Q 08
However, my doubt is on their operating expenses:
Cumulative operating expenses for 3Q 07: RM12.9mil (So i assume average RM4mil each quarter)
Individual operating expenses for 3Q 07: RM4.2mil
Individual operating expenses for 4Q 07: RM5.5mil
Individual operating expenses for 1Q 08: RM9.9mil
Apasai increased so much?  Makan lobster everyday kah?
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The only thing we learn from financial history is that we learn nothing from it!
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waikiat
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Posting #45: Wed Jun 25th, 2008 06:22 |
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well.. they did mentioned that labour cost increase lar... salary increase lar... transportation cost also increase...
tiger prawn for breakfast, shark fin for lunch, lobster for dinner, abalone for supper
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Moolah
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Posting #46: Wed Jun 25th, 2008 07:19 |
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waikiat wrote:
tiger prawn for breakfast, shark fin for lunch, lobster for dinner, abalone for supper
Wakkakakakaka.... what's for tea time?
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Moolah
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Posting #47: Wed Jun 25th, 2008 08:40 |
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Update from Waikiat.. (ps no problem la.. just send)
Attachment: 2008-06-25_133117.png (Downloaded 35 times)
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waikiat
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Posting #48: Thu Jun 26th, 2008 14:55 |
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well their margins dropped to 15% for 1Q08 leh, unless i m looking at a different sets of figures. HUAAN still new so cannot compared with the 1Q over the years.....
the 2Q results can see how they are coping with their margins....
till then, get ready for the roller coaster...
"tok kok, sing song..."
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Moolah
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Posting #49: Thu Jul 3rd, 2008 04:12 |
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| Update .. Attachment: china coke price 020708 1.png (Downloaded 19 times)
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Moolah
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Posting #50: Thu Jul 3rd, 2008 04:13 |
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| part 2... many thanks to waikiat Attachment: china coke price 020708 2.png (Downloaded 19 times)
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